TV and Jeff Return Further Precious Metal Rich VMS Drill Intercepts
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NEWS RELEASE
FOR IMMEDIATE RELEASE: December 8, 2021
TV and Jeff Return Further Precious Metal Rich VMS Drill Intercepts
for Eskay Mining Including 10.1 gpt Au eq over 8.32m within 3.4 gpt
Au eq over 40.07m, 16.3 gpt Au eq over 4.67m within 7.0 gpt Au eq
over 12.09m, 3.6 gpt Au eq over 19.01m within 2.5 gpt Au eq over
53.86m and 61.3 gpt Au eq over 1.00m within 8.1 gpt Au eq over 8.53m
Toronto, December 8, 2021 – Eskay Mining Corp. (“Eskay” or the “Company”) (TSX-V:ESK)
(OTCQX: ESKYF) (Frankfurt:KN7)(WKN:A0YDPM) is pleased to announce its second tranche of assay
results from its 2021 diamond drill campaign at its 100% controlled Consolidated Eskay precious metal
rich volcanogenic massive sulfide (“VMS”) project, British Columbia. Results discussed in this news
release include those from eighteen holes from the Jeff deposit and twelve holes from the TV deposit
bringing the number of fully assayed holes announced by the Company to thirty-five out of a total of
ninety-eight drilled this season.
“Impressive drill results from our 2021 diamond drill campaign at the Consolidated Eskay Precious Metal
VMS Project are now steadily rolling in,” commented Dr. Quinton Hennigh, technical advisor and director
of Eskay Mining. “We now have 35 of 98 complete holes back, and remarkably, over 90% display
significant reportable mineralized intercepts. Many holes from both TV and Jeff are displaying high-
grades, a promising indication we are dealing with strong mineralizing systems. Our team’s understanding
of these deposits is growing rapidly as data returns, and we eagerly await return of data from the
remaining 63 holes over the coming weeks.”
“We are excited by results that continue to confirm our hypothesis that the TV and Jeff deposits are
members of a larger VMS system that extends along strike and up and down stratigraphy" , commented
Dr. John DeDecker, Eskay Mining's VP of Exploration. "Both systems show extensive hydrothermal
alteration associated with mineralization. TV in particular has all the hallmarks of being located along a
syn-volcanic feeder structure. As our stratigraphic model is refined with drilling, the trends of SkyTEM
anomalies become more compelling, particularly given TV21-78, and TV21-81 intercepted massive
sulfide and stockwork sulfide respectively. We look forward to continuing exploring these trends of
anomalies in 2022." ”
TV Drill Highlights:
- 10.1 gpt Au eq (7.6 gpt Au and 201.6 gpt Ag) over 8.32m within 3.4 gpt Au eq (2.6 gpt Au
and 65.5 gpt Ag) over 40.07m in hole TV21-56.
- 16.3 gpt Au eq (1.8 gpt Au and 1,138.0 gpt Ag) over 4.67m within 7.0 gpt Au eq (0.9 gpt Au
and 483.0 gpt Ag) over 12.09m in hole TV21-78.
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- 9.4 gpt Au eq (7.5 gpt Au and 151.8 gpt Ag) over 5.94m within 2.8 gpt Au eq (2.3 gpt Au
and 42.2 gpt Ag) over 34.03m in hole TV21-53.
- 13.2 gpt Au eq (12.6 gpt Au and 50.8 gpt Ag) over 3.39m within 2.5 gpt Au eq (2.2 gpt Au
and 28.2 gpt Ag) over 35.50m in hole TV21-49.
- 4.9 gpt Au eq (2.6 gpt Au and 182.5 gpt Ag) over 7.94m within 2.2 gpt Au eq (1.5 gpt Au
and 57.6 gpt Ag) over 40.80m in hole TV21-57.
- 3.6 gpt Au eq (1.7 gpt Au and 143.8 gpt Ag) over 19.01m within 2.5 gpt Au eq (1.3 gpt Au
and 101.2 gpt Ag) over 53.86m in hole TV21-51.
Summary:
These twelve holes provide further evidence that the TV deposit, located approximately 13 km south
of Skeena’s Eskay Creek mine, is shaping up to be an extensive precious metal rich VMS system
(results presented in the table below).
Mineralization remains open along strike to the north and south and down dip to the east (Figures 1,
2 and 3).
Given that the Betty Creek Formation has been determined to be the host for this deposit, Eskay
Mining considers stratigraphy above TV, through units of the Upper Hazelton Group, to also be highly
prospective for further VMS discovery.
Several recent holes from TV have returned high grades such as 16.3 gpt Au eq (1.8 gpt Au and
1,138.0 gpt Ag) over 4.67m in hole TV21-78, 13.2 gpt Au eq (12.6 gpt Au and 50.8 gpt Ag) over
3.39m in hole TV21-49, 10.1 gpt Au eq (7.6 gpt Au and 201.6 gpt Ag) over 8.32m in hole TV21-56
and 9.4 gpt Au eq (7.5 gpt Au and 151.8 gpt Ag) over 5.94m in hole TV21-53, a very promising
indication of the strength of this system.
Most of the reported intercepts from these twelve holes are from stockwork and/or sub-sea floor
replacement style mineralization from both the Upper and Lower VMS systems at TV (Fig. 4).
Silver grades are notably strong throughout most of the TV deposit.
The high-grade interval of 16.3 gpt Au eq (1.8 gpt Au and 1,138.0 gpt Ag) over 4.67m in hole
TV21-78 is the first assayed interval of the newly discovered Upper massive sulfide layer (Fig. 5) and
is believed to represent near true width. Because there is no stockwork feeder mineralization
immediately beneath this intercept in hole TV21-78, Eskay Mining believes the position of this
intercept is somewhat distal from the core of the system. Nonetheless, this is a very encouraging first
result.
Sub-intervals reported from hole TV21-57 including 4.9 gpt Au eq (2.6 gpt Au and 182.5 gpt Ag)
over 7.94m and 3.5 gpt Au eq (3.3 gpt Au and 11.9 gpt Ag) over 3.26m are of Lower massive
sulfide mineralization and are consistent with previous intercepts through this layer including results
reported from last year’s drilling (Fig. 6).
Seventeen of thirty-eight holes completed at TV have returned thus far. Holes still outstanding include
numerous intercepts of stockwork, replacement and massive sulfide mineralization.
Assays from twelve diamond drill holes at TV:
Hole From (m) To (m) Length Au (gpt) Ag (gpt) Au eq Ag eq
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(m) (gpt) (gpt)
TV21-46 69.09 79.00 9.91 1.1 28.4 1.5 118.0
TV21-49 31.15 66.65 35.50 2.2 28.2 2.5 199.6
includes 32.17 35.56 3.39 12.6 50.8 13.2 1043.0
includes 33.15 34.97 1.82 17.5 66.4 18.4 1450.9
includes 56.99 58.98 1.99 4.3 91.6 5.4 428.0
TV21-51 42.06 95.92 53.86 1.3 101.2 2.5 200.5
includes 49.98 50.98 1.00 2.2 570.0 9.4 743.8
includes 61.99 81.00 19.01 1.7 143.8 3.6 281.1
includes 70.99 75.00 4.01 3.6 246.3 6.8 534.4
TV21-53 23.99 58.02 34.03 2.3 42.2 2.8 224.2
includes 44.28 50.22 5.94 7.5 151.8 9.4 742.7
includes 46.20 47.35 1.15 24.6 582.0 32.0 2525.4
TV21-56 21.93 62.00 40.07 2.6 65.5 3.4 267.0
includes 21.93 27.19 5.26 3.8 23.9 4.1 320.9
includes 38.76 47.08 8.32 7.6 201.6 10.1 800.2
includes 40.58 47.08 6.50 8.9 203.9 11.5 910.1
TV21-57 110.25 151.05 40.80 1.5 57.6 2.2 177.0
includes 120.19 128.13 7.94 2.6 182.5 4.9 389.0
includes 120.19 122.13 1.94 3.7 285.9 7.3 579.5
includes 138.75 142.01 3.26 3.3 11.9 3.5 275.9
175.00 179.97 4.97 1.1 0.4 1.1 89.0
TV21-59 223.00 249.25 26.25 0.9 26.5 1.2 94.8
TV21-68 122.49 126.50 4.01 0.4 39.8 0.9 72.9
148.51 162.87 14.36 0.7 38.9 1.2 92.8
includes 149.46 155.01 5.55 0.8 71.6 1.7 136.6
TV21-72 3.60 48.03 44.43 0.7 32.3 1.1 86.0
includes 31.00 35.00 4.00 1.7 80.7 2.7 212.6
includes 45.00 48.03 3.03 2.8 16.5 3.0 234.5
TV21-75 4.20 19.65 15.45 1.0 24.3 1.3 106.6
TV21-77 4.61 13.00 8.39 0.5 94.1 1.7 131.3
TV21-78 36.00 48.09 12.09 0.9 483.0 7.0 551.3
includes 42.85 47.52 4.67 1.8 1138.0 16.3 1284.1
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Jeff Drill Highlights:
- 61.3 gpt Au eq (59.7 gpt Au and 127.0 gpt Ag) over 1.00m within 8.1 gpt Au eq (7.9 gpt Au
and 17.1 gpt Ag) over 8.53m in hole J21-77.
- 18.3 gpt Au eq (17.8 gpt Au and 40.0 gpt Ag) over 1.08m within 7.1 gpt Au eq (6.9 gpt Au
and 16.6 gpt Ag) over 3.67m in hole J21-46.
- 4.3 gpt Au eq (4.2 gpt Au and 12.3 gpt Ag) over 4.12m within 2.3 gpt Au eq (2.2 gpt Au and
10.9 gpt Ag) over 12.43m in hole J21-53.
Summary:
Like TV, drill intercepts from Jeff include notable high grade including 61.3 gpt Au eq (59.7 gpt Au
and 127.0 gpt Ag) over 1.00m within 8.1 gpt Au eq (7.9 gpt Au and 17.1 gpt Ag) over 8.53m in
hole J21-77 and 18.3 gpt Au eq (17.8 gpt Au and 40.0 gpt Ag) over 1.08m within 7.1 gpt Au eq
(6.9 gpt Au and 16.6 gpt Ag) over 3.67m in hole J21-46, a positive indication this system displays
strength.
Mineralization remains open along strike to the north and south and down dip to the east (Figures 7,
8 and 9).
The Company’s geologic team has conclusively determined that currently drilled mineralization at Jeff
lies stratigraphically beneath mineralization at TV (Figure 10 and 11.) This implies that excellent
potential remains for further discovery in areas stratigraphically above Jeff. In fact, high-grade
mineralization encountered in several holes at Jeff (Figs. 12, and 13) may actually represent feeder
mineralization to a deposit situated stratigraphically above Jeff, a very intriguing exploration
opportunity.
Eskay Mining geologists note that many recently assayed drill holes from Jeff display intervals of
reportable mineralization (see table below) occurring within broad halos of lower grade
mineralization, unreported, grading 0.1-0.5 gpt Au eq. One interpretation for this is that Jeff is a
satellite to a larger system, perhaps the TV system located approximately 2 km to the south. SkyTEM
data indicates the presence of numerous anomalies thought to be associated with sulfides occurring
within a belt stretching north-south over approximately 6 km and encompassing both the Jeff and TV
deposits (Fig. 13).
Eighteen of forty-nine holes completed at Jeff have returned thus far. Holes still outstanding include
numerous intercepts of stockwork and replacement mineralization.
Assays from eighteen diamond drill holes at Jeff:
Hole From (m) To (m) Length (m) Au (gpt) Ag (gpt)
Au eq
(gpt)
Ag eq
(gpt)
J21-40 nsv
J21-41 98.43 100.71 2.28 0.7 20.6 1.0 78.8
J21-42 4.60 6.95 2.35 4.4 8.4 4.5 359.2
J21-43 4.40 20.79 16.39 1.3 29.7 1.7 133.7
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includes 4.40 5.65 1.25 6.7 126.8 8.3 658.4
35.00 38.03 3.03 0.5 45.3 1.0 82.1
346.62 348.14 1.52 2.4 1.5 2.4 187.9
352.68 354.10 1.42 1.4 3.7 1.5 114.6
375.75 378.00 2.25 1.4 1.8 1.4 114.4
J21-44 6.90 9.47 2.57 1.2 63.2 2.0 154.9
18.20 33.02 14.82 1.4 42.9 1.9 153.3
J21-46 7.99 14.55 6.56 2.1 29.1 2.5 198.7
includes 7.99 10.02 2.03 4.9 66.0 5.8 456.3
25.16 28.83 3.67 6.9 16.6 7.1 559.7
includes 26.80 27.88 1.08 17.8 40.0 18.3 1442.3
111.58 126.00 14.42 0.7 69.2 1.6 126.9
includes 117.66 119.00 1.34 0.9 351.0 5.4 424.9
J21-50 10.08 16.20 6.12 1.6 13.7 1.7 136.8
21.22 26.00 4.78 1.4 9.9 1.5 120.3
54.22 58.93 4.71 0.9 22.4 1.2 92.6
J21-51 nsv
J21-53 5.48 17.91 12.43 2.2 10.9 2.3 181.1
includes 7.36 11.48 4.12 4.2 12.3 4.3 342.1
J21-55 53.55 56.42 2.87 0.8 12.7 1.0 78.9
J21-62 165.85 167.86 2.01 1.4 0.5 1.4 108.7
J21-66 19.00 22.00 3.00 1.4 7.3 1.5 116.0
55.00 58.00 3.00 1.0 4.8 1.1 85.5
60.00 63.00 3.00 1.0 10.7 1.1 87.1
J21-67 111.08 114.00 2.92 1.1 2.7 1.1 90.4
J21-68 24.00 31.34 7.34 1.1 9.3 1.2 94.5
J21-69 nsv
J21-76 52.35 65.78 13.43 1.1 42.4 1.6 127.3
includes 52.35 56.00 3.65 2.5 144.5 4.3 341.1
J21-77 32.79 35.16 2.37 1.4 12.4 1.6 124.4
61.00 65.00 4.00 0.9 9.9 1.0 78.2
112.99 121.52 8.53 7.9 17.1 8.1 640.2
includes 115.99 116.99 1.00 59.7 127.0 61.3 4843.3
J21-80 146.05 147.98 1.93 0.7 47.7 1.3 101.8
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162.00 165.00 3.00 0.4 54.5 1.1 88.9
171.33 172.70 1.37 1.8 48.0 2.4 191.0
Au eq and Ag eq calculations
Note on use of Au eq (Au eq=Au+Ag/79) and Ag eq (Ag eq=Au*79+Ag): Mineralization at the TV and Jeff
deposits displays similar characteristics and mineralogy to the Eskay Creek deposit and therefore for Au
eq, and Au:Ag, a ratio of 79:1 is used and Au eq and Ag eq values are deemed to be reasonable based
on assumed gold recovery (84.2%) and silver recovery (87.3%) as reported in the Eskay Creek Project NI
43-101 Technical Report and Prefeasibility Study, British Columbia, Canada, Effective Date: 22 July,
2021, Prepared for: Skeena Resources Ltd., Prepared by: Absence Engineering Canada Inc.
Drill hole coordinates and orientations:
Hole UTM_East UTM_North UTM_Elevation Length_m Azimuth Dip
J21-40 409830 6267829 452 199 105 55
J21-41 409830 6267829 452 140 105 70
J21-42 409830 6267829 452 144.95 305 -45
J21-43 409830 6267829 452 447.4 300 -45
J21-44 409830 6267829 452 115.25 235 -45
J21-46 409897.338 6267891.98 464.801 195 282 -45
J21-50 409897 6267891 464 163 282 -65
J21-51 410003.658 6268399.42 467.005 410.6 270 -50
J21-53 409897.338 6267891.98 464.801 178 310 -55
J21-55 409557 6267944 387.1688 197.2 310 -75
J21-62 409557 6267944 387.16879 195.81 120 -45
J21-66 409897.338 6267891.98 464.801 177 270 -75
J21-67 409595.924 6267920.59 383.366 200.2 270 -75
J21-68 409897.338 6267891.98 464.801 177 0 -90
J21-69 409595.924 6267920.59 383.366 110 0 -90
J21-76 409596 6267944 380.295 115.96 90 -70
J21-77 409596 6267944 380.295 175 212 55
J21-80 409897.338 6267891.98 464.801 189 199 -45
TV21-46 409595.338 6265804.8 802.325 193 282 -45
TV21-49 409554.393 6265847.92 781.088 245.35 315 -45
TV21-51 409554.393 6265847.92 781.088 208.15 0 -90
TV21-52 409595.338 6265804.8 802.325 150 260 -45
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TV21-53 409554.393 6265847.92 781.088 185.35 282 -45
TV21-54 409727.414 6265841.26 848.684 456 293 -45
TV21-56 409554.393 6265847.92 781.088 126.85 250 -45
TV21-57 409390.001 6265971.36 712.333 311.25 90 -60
TV21-59 409727.414 6265841.26 848.684 429.2 293 -50
TV21-68 409390.001 6265971.36 712.333 300.3 63 -62
TV21-72 409522.156 6265781.61 821.435 126 282 -45
TV21-75 409522.156 6265781.61 821.435 195 180 -45
TV21-77 409522.156 6265781.61 821.435 151 90 -53
TV21-78 409585.454 6265762.61 820.287 115.78 270 -45
QA/QC, Methodology Statement:
Halved HQ drill core samples are submitted to ALS Geochemistry in Terrace, British Columbia for
preparation and analysis. ALS is accredited to the ISO/IEC 17025 standard for gold assays. All analytical
methods include quality control standards inserted at set frequencies. The entire sample interval is
crushed and homogenized, 250 g of the homogenized sample is pulped. All samples were analyzed for
gold, silver, mercury, and a suite of 48 major and trace elements. Analysis for gold is by fire assay fusion
followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) on 30 g of pulp.
Analysis for silver is by fire assay and gravimetric analysis on 30 g of pulp. Mercury is analyzed using the
trace Hg Inductively Coupled Plasma Mass Spectroscopy (ICP-MS) method. All other major and trace
elements are analyzed by four-acid digestion followed by ICP-MS.
Dr. Quinton Hennigh, P. Geo., a Director of the Company and its technical adviser, a qualified person as
defined by National Instrument 43-101, has reviewed and approved the technical contents of this news
release.
About Eskay Mining Corp:
Eskay Mining Corp (TSX-V:ESK) is a TSX Venture Exchange listed company, headquartered in Toronto,
Ontario. Eskay is an exploration company focused on the exploration and development of precious and
base metals along the Eskay rift in a highly prolific region of northwest British Columbia known as the
“Golden Triangle,” 70km northwest of Stewart, BC. The Company currently holds mineral tenures in this
area comprised of 177 claims (52,600 hectares).
All material information on the Company may be found on its website at www.eskaymining.com and on
SEDAR at www.sedar.com.
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For further information, please contact:
Mac Balkam T: 416 907 4020
President & Chief Executive Officer E: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Forward-Looking Statements: This Press Release contains forward-looking statements that involve
risks and uncertainties, which may cause actual results to differ materially from the statements made.
When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”,
“believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements.
Such statements reflect our current views with respect to future events and are subject to risks and
uncertainties. Many factors could cause our actual results to differ materially from the statements made,
including those factors discussed in filings made by us with the Canadian securities regulatory authorities.
Should one or more of these risks and uncertainties, such as actual results of current exploration
programs, the general risks associated with the mining industry, the price of gold and other metals,
currency and interest rate fluctuations, increased competition and general economic and market factors,
occur or should assumptions underlying the forward looking statements prove incorrect, actual results
may vary materially from those described herein as intended, planned, anticipated, or expected. We do
not intend and do not assume any obligation to update these forward-looking statements, except as
required by law. Shareholders are cautioned not to put undue reliance on such forward-looking
statements.