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Skeena Intersects 7.83 g/t AuEq over 42.59 m in 21C Zone Infill Drilling at Eskay Creek

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Vancouver, BC (October 20, 2020) Skeena Resources Limited (TSX: SKE, OTCQX: SKREF) (“Skeena” or the “Company” - https://www.commodity-tv.com/play/skeena-resourecs-investor-presentation-with-qa-october-2020/) is pleased to report additional diamond drill core results from the Phase 1 combined campaign of definition and exploration drilling at the Eskay Creek Project (“Eskay Creek” or the “Project”) located in the Golden Triangle of British Columbia. Phase 2 drilling continues with nine drill rigs currently active with more planned to be added shortly. The Phase 2 infill program is focused on Pre-Feasibility Study (“PFS”) resource category conversions for the open-pit constrained resources. Reference images are presented at the end of this release as well as on the Company’s website.

 

Eskay Creek 21C Zone Drilling – Highlights:

  • 7.19 g/t Au and 665 g/t Ag (16.05 g/t AuEq) over 14.45 m (SK-20-331)
  • 5.59 g/t Au and 5 g/t Ag (5.66 g/t AuEq) over 25.50 m (SK-20-341)
  • 6.88 g/t Au and 71 g/t Ag (7.83 g/t AuEq) over 42.59 m (SK-20-364)

 

Gold Equivalent (AuEq) calculated via the formula: Au (g/t) + [Ag (g/t) / 75]. True widths range from 70-100% of reported core lengths. Length weighted AuEq composites are constrained by geological considerations. Grade-capping of individual assays has not been applied to the Au and Ag assays informing the length-weighted AuEq composites. Metallurgical processing recoveries have not been applied to the AuEq calculation and are taken at 100%. Samples below detection limit were nulled to a value of zero.

 

21C Zone Infill Drilling Intersects Substantial Silver Mineralization in Contact Mudstone

The Phase 1 infill drill campaign is reducing the drill spacing and upgrading the confidence of Inferred resources in a portion of the 21C Zone. Phase 1 drillhole SK-20-331 intersected significant and previously unknown high-grade Ag mineralization hosted within the Contact Mudstones. The intercept averaged 7.19 g/t Au and 665 g/t Ag (16.05 g/t AuEq) over 14.45 m, however there is significant high-grade within this zone (Table 1). This intercept is closely flanked by historical drill holes 6717 and C001053, but these intersected markedly lower grades averaging 1.13 g/t AuEq over 8.69 m and 1.69 g/t AuEq over 12.78 m respectively (see section 10480 below).

Table 1: DDH SK-20-331 – 21C Zone Detailed Au-Ag Results

 

DDH SK-20-331

From

(m)

To

(m)

Core Length

(m)

Au

(g/t)

Ag

(g/t)

AuEq

(g/t)

Total mineralized Intercept

164.90

179.35

14.45

7.19

665

16.05

including:

165.85

166.55

  0.70

20.40

2530

54.13

and:

166.55

167.00

  0.45

4.44

1765

27.97

and:

167.00

167.50

  0.50

3.25

1540

23.78

and:

167.50

168.00

  0.50

4.84

1835

29.31

and:

168.00

168.50

  0.50

4.64

1980

31.04

and:

168.50

169.00

  0.50

4.48

1215

20.68

and:

169.00

169.50

  0.50

1.13

915

13.33

and:

169.50

170.00

  0.50

17.20

2900

55.87

and:

170.00

171.30

  1.30

43.10

966

55.98

and:

172.80

173.70

  0.90

6.89

356

11.64

In addition to the above results, SK-20-331 also encountered better than expected grades stratigraphically above the historically important Contact Mudstone (8.18 g/t Au and 117 g/t Ag (9.73 g/t AuEq) over 4.25 m) compared to the surrounding historical drill holes. Historical surface hole C001053, which originally informed the 2019 Mineral Resource Estimate (“MRE”), intersected 2.68 g/t AuEq over 3.16 m. These recent results highlight the potential remaining throughout the Eskay Creek project. 

 

The recently completed Phase 1 portion of the infill drilling campaign at Eskay Creek continues to demonstrate the predictability of the Company’s 2019 MRE, which was largely informed by historical drilling results. As well, recent drill intercepts of grades and widths in the 21C Zone continue to correlate very well with the modelled Inferred mineralization (see section 10410 below).

 

Annual and Special General Meeting Results

Skeena is also pleased to announce that all resolutions presented to shareholders were passed at the Company’s Annual and Special General Meeting held on October 15, 2020.

 

About Skeena

Skeena Resources Limited is a junior mining company focused on developing the past-producing Eskay Creek gold-silver mine located in Tahltan Territory in the Golden Triangle of northwest British Columbia, Canada. The Company released a robust Preliminary Economic Assessment in late 2019 and is currently focused on infill and exploration drilling at Eskay Creek to advance the project to Prefeasibility. Skeena is also exploring the past-producing Snip gold mine.

 

On behalf of the Board of Directors of Skeena Resources Limited,

 

 

 


Walter Coles Jr.

President & CEO

 

In Europe:

Swiss Resource Capital AG

Jochen Staiger

[email protected]

www.resource-capital.ch

 

 

Qualified Persons

Exploration activities at the Eskay Creek Project are administered on site by the Company’s Exploration Managers, Colin Russell, P.Geo. and Adrian Newton, P.Geo. In accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects, Paul Geddes, P.Geo. Vice President Exploration and Resource Development, is the Qualified Person for the Company and has prepared, validated and approved the technical and scientific content of this news release. The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting the exploration activities on its projects.

 

Quality Assurance – Quality Control

Once received from the drill and processed, all drill core samples are sawn in half, labelled and bagged. The remaining drill core is subsequently securely stored on site. Numbered security tags are applied to lab shipments for chain of custody requirements. The Company inserts quality control (QC) samples at regular intervals in the sample stream, including blanks and reference materials with all sample shipments to monitor laboratory performance. The QAQC program was designed and approved by Lynda Bloom, P.Geo. of Analytical Solutions Ltd., and is overseen by the Company’s Qualified Person, Paul Geddes, P.Geo, Vice President Exploration and Resource Development.

 

Drill core samples are submitted to ALS Geochemistry’s analytical facility in North Vancouver, British Columbia for preparation and analysis. The ALS facility is accredited to the ISO/IEC 17025 standard for gold assays and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is crushed and 1 kg is pulverized. Analysis for gold is by 50 g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.01 ppm and upper limit of 100 ppm. Samples with gold assays greater than 100 ppm are re-analyzed using a 50 g fire assay fusion with gravimetric finish. Analysis for silver is by 50 g fire assay fusion with gravimetric finish with a lower limit of 5ppm and upper limit of 10,000 ppm. Samples with silver assays greater than 10,000 ppm are re-analyzed using a gravimetric silver concentrate method. A selected number of samples are also analyzed using a 48 multi-element geochemical package by a 4-acid digestion, followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) and Inductively Coupled Plasma Mass Spectroscopy (ICP-MS) and also for mercury using an aqua regia digest with Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) finish. Samples with sulfur reporting greater than 10% from the multi-element analysis are re-analyzed for total sulfur by Leco furnace and infrared spectroscopy.

 

Cautionary note regarding forward-looking statements

Certain statements made and information contained herein may constitute “forward looking information” and “forward looking statements” within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management’s expectations. Forward-looking statements and information may be identified by such terms as “anticipates”, “believes”, “targets”, “estimates”, “plans”, “expects”, “may”, “will”, “could” or “would”. Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and reserves, the realization of resource and reserve estimates, metal prices, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes and other matters. While the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. The Company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws.

 

Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

 

Table 2: Eskay Creek Project 2020 Length Weighted Drill Hole Gold and Silver Composites:

 

Hole-ID

From

(m)

To

(m)

Core Length

(m)

Au

(g/t)

Ag

(g/t)

AuEq

(g/t)

Zone

SK-20-331

153.00

157.25

4.25

8.18

117

9.73

21C

INCLUDING

153.95

155.35

1.40

8.54

328

12.91

21C

AND

155.35

155.85

0.50

35.50

40

36.03

21C

SK-20-331

164.90

179.35

14.45

7.19

665

16.05

21C

INCLUDING

165.85

166.55

0.70

20.40

2530

54.13

21C

AND

166.55

167.00

0.45

4.44

1765

27.97

21C

AND

167.00

167.50

0.50

3.25

1540

23.78

21C

AND

167.50

168.00

0.50

4.84

1835

29.31

21C

AND

168.00

168.50

0.50

4.64

1980

31.04

21C

AND

168.50

169.00

0.50

4.48

1215

20.68

21C

AND

169.00

169.50

0.50

1.13

915

13.33

21C

AND

169.50

170.00

0.50

17.20

2900

55.87

21C

AND

170.00

171.30

1.30

43.10

966

55.98

21C

AND

172.80

173.70

0.90

6.89

356

11.64

21C

SK-20-331

193.80

210.75

16.95

2.74

10

2.87

21C

INCLUDING

195.30

196.30

1.00

10.90

5

10.97

21C

AND

196.30

197.00

0.70

18.15

9

18.27

21C

SK-20-331

213.45

227.30

13.85

3.43

14

3.62

21C

INCLUDING

222.80

224.30

1.50

10.25

36

10.73

21C

SK-20-332

     

PENDING

21C

SK-20-333

     

PENDING

21C

SK-20-334

     

PENDING

21C

SK-20-335

226.00

233.05

7.05

1.72

5

1.79

21C

SK-20-336

132.60

136.16

3.56

0.67

89

1.86

21C

SK-20-336

148.00

155.00

7.00

1.15

7

1.23

21C

SK-20-336

162.00

166.00

4.00

1.60

10

1.74

21C

SK-20-336

173.00

187.50

14.50

3.96

8

4.07

21C

INCLUDING

173.00

174.45

1.45

18.80

5

18.87

21C

AND

163.79

164.29

0.50

13.70

20

13.97

21C

SK-20-337

181.80

195.00

13.20

2.06

10

2.19

21C

SK-20-338

184.75

197.00

12.25

3.07

14

3.26

21C

INCLUDING

188.89

189.50

0.61

19.40

6

19.48

21C

SK-20-339

195.00

208.50

13.50

3.10

5

3.17

21C

SK-20-340

186.60

194.70

8.10

1.89

18

2.12

21C

SK-20-341

186.50

212.00

25.50

5.59

5

5.66

21C

INCLUDING

186.50

187.65

1.15

49.20

10

49.33

21C

AND

187.65

188.50

0.85

17.00

<5

17.00

21C

SK-20-342

194.00

208.00

14.00

3.18

30

3.58

21C

INCLUDING

196.06

197.50

1.44

13.70

233

16.81

21C

SK-20-343

185.50

196.00

10.50

1.59

8

1.70

21C

SK-20-344

189.00

205.50

16.50

1.70

7

1.80

21C

SK-20-345

170.38

174.50

4.12

2.68

5

2.74

21C

SK-20-345

197.00

215.00

18.00

1.57

8

1.67

21C

SK-20-346

     

PENDING

21C

SK-20-347

     

PENDING

21C

SK-20-348

138.25

160.00

21.75

1.35

32

1.78

21C

SK-20-349

144.30

169.90

25.60

1.91

42

2.47

21C

SK-20-350

146.50

163.50

17.00

1.55

20

1.81

21C

INCLUDING

153.05

154.05

1.00

10.05

29

10.44

21C

SK-20-351

89.20

90.40

1.20

2.65

8

2.76

21C

SK-20-351

93.00

107.36

14.36

1.92

7

2.01

21C

SK-20-351

136.88

156.00

19.12

3.37

26

3.71

21C

INCLUDING

144.00

145.00

1.00

11.30

<5

11.30

21C

AND

145.00

146.00

1.00

13.70

<5

13.70

21C

SK-20-352

     

PENDING

21C

SK-20-353

     

PENDING

21C

SK-20-354

     

PENDING

21C

SK-20-355

     

PENDING

21C

SK-20-356

     

PENDING

21C

SK-20-357

     

PENDING

21C

SK-20-358

     

PENDING

21C

SK-20-359

     

PENDING

21C

SK-20-360

145.60

150.50

4.90

1.14

12

1.31

21C

SK-20-360

168.00

193.50

25.50

2.44

28

2.82

21C

INCLUDING

168.75

169.50

0.75

12.90

27

13.26

21C

AND

169.50

170.25

0.75

10.25

55

10.98

21C

SK-20-360

196.50

217.50

21.00

1.40

6

1.48

21C

SK-20-361

84.90

101.50

16.60

1.47

13

1.65

21C

SK-20-361

141.59

146.50

4.91

1.74

51

2.42

21C

SK-20-362

144.70

153.00

8.30

2.24

483

8.68

21C

INCLUDING

146.00

147.50

1.50

3.95

1160

19.42

21C

AND

147.50

149.00

1.50

1.31

665

10.18

21C

SK-20-362

163.50

200.50

37.00

1.84

17

2.06

21C

SK-20-362

206.50

214.08

7.58

1.19

5

1.25

21C

SK-20-363

     

ABANDONED

21C

SK-20-364

145.67

149.50

3.83

1.84

603

9.88

21C

INCLUDING

145.67

146.50

0.83

1.62

838

12.79

21C

AND

146.50

147.50

1.00

1.99

832

13.08

21C

AND

147.50

148.35

0.85

3.42

888

15.26

21C

SK-20-364

153.10

161.50

8.40

1.86

41

2.41

21C

SK-20-364

164.91

207.50

42.59

6.88

71

7.83

21C

INCLUDING

164.91

165.50

0.59

5.94

375

10.94

21C

AND

165.50

166.00

0.50

21.00

439

26.85

21C

AND

171.44

172.10

0.66

88.40

414

93.92

21C

AND

172.10

173.00

0.90

16.10

817

26.99

21C

AND

173.00

173.60

0.60

12.65

99

13.97

21C

AND

174.28

175.20

0.92

21.50

277

25.19

21C

AND

175.20

176.50

1.30

18.45

246

21.73

21C

AND

176.50

176.87

0.37

127.50

341

132.05

21C

AND

176.87

178.11

1.24

41.10

65

41.97

21C

 

Gold Equivalent (AuEq) calculated via the formula: Au (g/t) + [Ag (g/t) / 75]. True widths range from 70-100% of reported core lengths. Length weighted AuEq composites were constrained by geological considerations. Grade capping of individual assays has not been applied to the Au and Ag assays informing the length weighted AuEq composites. Processing recoveries have not been applied to the AuEq calculation and are disclosed at 100%. Samples below detection limit were nulled to a value of zero.

 

Table 3: Mine Grid Drill Hole Locations and Orientations:

 

Hole-ID

Easting

(m)

Northing

(m)

Elevation

(m)

Length

(m)

Azimuth

(°)

DDH Angle

(°)

SK-20-331

9776.0

10538.0

971.2

240.0

186.1

-69.9

SK-20-335

9776.0

10538.0

970.7

240.0

200.1

-77.3

SK-20-336

9787.0

10602.0

943.1

190.0

109.5

-70.2

SK-20-337

9780.0

10545.0

970.5

210.0

100.2

-65.2

SK-20-338

9780.0

10544.0

968.9

215.0

100.3

-69.1

SK-20-339

9780.0

10544.0

969.0

227.0

100.0

-73.0

SK-20-340

9780.0

10544.0

968.9

210.0

109.2

-66.8

SK-20-341

9780.0

10544.0

969.9

220.0

109.0

-71.1

SK-20-342

9780.0

10544.0

969.5

213.0

91.0

-71.0

SK-20-343

9780.0

10544.0

968.6

210.0

82.3

-65.0

SK-20-344

9780.0

10544.0

968.0

215.0

82.0

-69.0

SK-20-345

9780.0

10544.0

969.1

215.0

82.0

-73.0

SK-20-348

9773.0

10605.0

941.8

182.0

112.1

-68.0

SK-20-349

9773.0

10605.0

942.7

173.0

112.1

-73.0

SK-20-350

9773.0

10605.0

942.4

175.0

99.9

-70.4

SK-20-351

9713.0

10627.0

920.2

156.0

114.0

-73.0

SK-20-360

9700.0

10423.0

963.8

225.0

96.5

-66.0

SK-20-361

9713.0

10627.0

919.4

155.0

104.1

-81.2

SK-20-362

9700.0

10423.0

963.6

220.0

94.0

-62.0

SK-20-363

9700.0

10423.0

961.8

35.0

95.9

-59.0

SK-20-364

9700.0

10423.0

961.8

220.0

96.1

-59.0

                                           

 

 

 

 

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Swiss Resource Capital AG will use the information you provide in this form to keep in touch with you and to provide you with updates and marketing information. To receive our news, you still have to give us permission to send you E-Mails below.

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