Eskay Creek New Discovery Of Deep Mineralization In Lower Mudstones
VANCOUVER - Skeena Resources Limited reported gold-silver drill results from the 2020 Phase I surface drilling program at the Eskay Creek Project located in the Golden Triangle of British Columbia. Six ground-based and helicopter supported diamond drill rigs are being utilized for the 2020 Phase I program in the 21A, 21B and 21C Zones for Preliminary Feasibility Study (PFS) resource category conversions. Additionally, the Company is also conducting exploratory drilling in the near-mine environment testing the Water Tower Zone (WTZ) as well as the largely under-explored Lower Mudstone (LM) sequences, which lie beneath the historically mined Contact Mudstone sequences.
Phase I – 21A Zone Infill Drilling Highlights: 5.93 g/t Au, 40 g/t Ag (6.46 g/t AuEq) over 34.40 meters (SK-20-274); 21.90 g/t Au, 235 g/t Ag (25.03 g/t AuEq) over 35.42 meters (SK-20-290); & 6.52 g/t Au, 24 g/t Ag (6.84 g/t AuEq) over 36.50 meters (SK-20-291).
Phase I – Exploratory Lower Mudstones Drilling Highlights: 11.99 g/t Au, 21 g/t Ag (12.27 g/t AuEq) over 5.99 meters (SK-20-274); & 5.99 g/t Au, 20 g/t Ag (6.26 g/t AuEq) over 4.20 meters (SK-20-290)
Reported core lengths represent 80-100% of true widths and are supported by well-defined mineralization geometries derived from historical drilling. 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%.
New Deep Mineralization Discovered in Even Lower Mudstone Below 21A Zone
Three drill holes designed for PFS resource category conversion in the 21A Zone were extended to explore the Lower and Even Lower Mudstone (ELM) sequences. This drilling intersected 5.99 g/t Au, 20 g/t Ag (6.26 g/t AuEq) over 4.20 m within a broader anomalous interval grading 3.67 g/t Au, 12 g/t Ag (3.83 g/t AuEq) over 10.50 m in the ELM at a vertical depth approximately 200 m below surface in a previously unexplored area (SK-20-290). This new discovery of discordant, replacement-style mineralization is hosted within an intercalated sedimentary sequence of mudstones and siltstones. Differing from the overlying historically mined Contact Mudstone, this new discovery possesses a different geochemical signature in that there are no significant concentrations of the pathfinder suite of elements (Hg-As-Sb). Drill holes SK-20-274 and SK-20-291 intersected weakly anomalous mineralization in the Lower Mudstones suggesting they are a greater distance from a yet to be discovered synvolcanic feeder and provide support for the geological concept model. The evidence of mineralization in these lower mudstone units, lying below the historically important Contact Mudstone, could represent not only the discordant, crosscutting epigenetic/replacement style, but also needs to be evaluated for the possible presence of stacked predecessor exhalative synsedimentary mineralization events. This new discovery is entirely open for expansion along strike and up-dip and represents a target amenable to underground mining methods.
Additional Mineralization Discovered in Lower Mudstone Below 21A Zone
Phase I drilling has intersected additional mineralization in the LM grading 11.99 g/t Au, 21 g/t Ag (12.27 g/t AuEq) over 5.99 m within a larger interval averaging 6.49 g/t Au, 11 g/t Ag (6.63 g/t AuEq) over 12.94 m (SK-20-274). This mineralization is situated 50 m below the designed PEA open-pit and 25 m up-dip of the previously reported intersection of 312.81 g/t Au, 95 g/t Ag (314.07 g/t AuEq) over 2.21 m including 1,380.00 g/t Au, 322 g/t Ag (1,384.29 g/t AuEq) over 0.50 m (SK-19-063).
The infill component of the Phase I program continues to confirm the continuity of the modeled mineralization in the 21A Zone as demonstrated by intersection of 21.90 g/t Au, 235 g/t Ag (25.03 g/t AuEq) over 35.42 m (SK-20-290). Further support for the geological concept model are provided by intersections 5.93 g/t Au, 40 g/t Ag (6.46 g/t AuEq) over 34.40 m and 6.52 g/t Au, 24 g/t Ag (6.84 g/t AuEq) over 36.50 m (SK-20-274 and SK-20-291, respectively), which validated the expected resource grades and mineralization distribution.
Paul Geddes, Vice President Exploration & Resource Development, said, “This is the first time Skeena has systematically tested the laterally-extensive Lower Mudstone Sequences with exploratory drilling. With only three drill holes in a very limited area of the property, we have proven the geological concept model that the LM and ELM, laying below the Contact Mudstone, are mineralized by the same fluids that produced the overlying mining area, and are very prospective. Our ongoing 2020 exploration program will continue to focus on syn-volcanic feeder zones with emphasis on where these feeders intersect all the mudstones, specifically the Lower Mudstones discussed here.”
“We’ve drilled 46 holes at Eskay Creek since we restarted our exploration program in July. This press release represents the assay results from only the first three of those holes. In September we intend to add two more drill rigs, which will bring our rig count up to eight. Over the next six months we will have a steady stream of assay results from both infill and step-out exploration holes, which should make for an exciting fall,” said, Walter Coles Jr., CEO.