Skeena Intersects 14.73 g/t AuEq Over 36.85 m at Eskay Creek

 

VANCOUVER -  Skeena Resources Limited reported additional gold-silver drill results from the 2019 Phase I surface drilling program at the Eskay Creek Project (located in the Golden Triangle of British Columbia. Four surface drill rigs were utilized for the 2019 Phase I program in the 21A, 21E and HW Zones to infill and upgrade areas of inferred resources to the indicated classification. Drill hole results reported in this release are from the 21A, 21E and HW Zones. 

Gold Equivalent (AuEq) calculated via the formula: Au (g/t) + [Ag (g/t) / 75]. 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%. Samples below detection limit are nulled to a value of zero.

21A Zone Continues to Demonstrate Increased Grades and Widths: 2019 Phase I drilling within the 21A Zone continues to return both higher Au-Ag grades and thicknesses than expected. The newest infill hole SK-19-170 intersected 10.14 g/t Au, 345 g/t Ag (14.73 g/t AuEq) over 36.85 m (refer to attached section). This drill hole was originally designed to add confidence to the inferred resources; however, the intersection has established both higher grades and greater widths than the surrounding historical drill holes. For comparison, the nearest historical drill hole CA89-078 only intersected 7.16 g/t AuEq over 16.71 m.

It is also important to note that this high-grade mineralization occurs not only in the mudstone but also stratigraphically below the mudstone within intensely sheared, brecciated and hydrothermally altered rhyolites. This potentially indicates the uppermost expression of a previously unidentified synvolcanic feeder structure, which could lead to additional exploration targets.

“The Phase I drilling program has been and continues to be very successful in that the Company’s drill intercepts continue to predictably validate the geometries and grades defined by the historical drilling”, comments Paul Geddes, the Company’s Vice President of Exploration and Resource Development.  “We are also quite encouraged by the improved mineralization widths and gold-silver grades as we infill and upgrade the inferred resources. The 2020 mandate to organically grow the current resource base at Eskay Creek will involve the allocation of approximately 30% of the current drill budget to exploratory step out drilling”.

Four ground-based drill rigs are currently on site at the Eskay Creek Project. The Company anticipates commencement of the ground based 2020 Phase I infill and exploration drilling program in February.

The company’s address is Suite 650, 1021 W. Hastings St., Vancouver, BC V6E 0C3, (604) 684-8725, www.skeenaresources.com.