TV, Jeff and C-10 Deliver High-grade Intercepts for Eskay Mining
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NEWS RELEASE
FOR IMMEDIATE RELEASE: March 15, 2022
TV, Jeff and C-10 Deliver High-grade Intercepts for Eskay Mining
- 24.69 gpt Au eq over 1.99m and 29.02 gpt Au eq over 0.72m within 7.39 gpt
Au eq over 13.38m within 2.64 gpt Au eq over 53.86m at TV
- 34.23 gpt Au eq over 1.93m within 17.83 gpt Au eq over 3.88m and another
interval of 5.26 gpt Au eq over 4.94m within 2.26 gpt Au eq over 26.42m at
Jeff
- Discovery of a new precious metal rich VMS system, 31.16 gpt Au eq over
1.95m, at the C-10 prospect
Toronto, March 15, 2022 – Eskay Mining Corp. (“Eskay” or the “Company”) (TSX-V:ESK) (OTCQX:
ESKYF) (Frankfurt:KN7)(WKN:A0YDPM) is pleased to announce all remaining assay results from its
Summer, 2021 diamond drill campaign at its 100% controlled Consolidated Eskay precious metal rich
volcanogenic massive sulfide (“VMS”) project, British Columbia. A total of ninety-eight holes were drilled
as part of this program. In addition to new strong results from the TV and Jeff deposits, Eskay has
confirmed discovery of similar precious metal rich VMS mineralization at the C-10 prospect located
approximately 8km south-southeast from TV.
“We are delighted with the long list of strong assay results from our 2021 drill program,” commented Dr.
Quinton Hennigh, technical advisor and director of Eskay Mining. “At TV, we see further high-grade
assays including 24.69 gpt Au eq (2.96 gpt Au and 1,695 gpt Ag) over 1.99m and 29.02 gpt Au eq
(1.20 gpt Au and 2,170 gpt Ag) over 0.72m within 7.39 gpt Au eq (0.77 gpt Au 516.30 gpt Ag) over
13.38m within 2.64 gpt Au eq (0.59 gpt Au and 160.26 gpt Ag) over 53.86m . Jeff also delivered high-
grade including 17.83 gpt Au eq (17.56 gpt Au and 20.81 gpt Ag) over 3.88m and another interval of
5.26 gpt Au eq (4.94 gpt Au and 24.81 gpt Ag) over 4.94m within 2.26 gpt Au eq (1.91 gpt Au and
27.55 gpt Ag) over 26.42m . We are also pleased to announce discovery of high-grade VMS
mineralization at C-10 with an intercept of 31.16 gpt Au eq (31.10 gpt Au and 4.97 gpt Ag) over 1.95m.
With all 2021 drill data now in hand, we eagerly approach the 2022 drill season with the goal of expanding
both TV and Jeff, following up on our new high-grade VMS discovery at C-10, and testing numerous new
targets across our district scale land package. Drill planning is currently underway in preparation for our
aggressive 35,000m program beginning in early June.”
“The 2021 exploration program has shown that TV and Jeff are components of a larger precious metal
endowed VMS system,” commented Dr. John DeDecker, Eskay Mining's VP of Exploration. "Importantly
mineralization at TV and Jeff is shallow or outcropping on the surface, and remains open along strike,
down-dip, and up stratigraphic section. Drilling at C10 and Vermillion shows that VMS hydrothermal
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activity extended well to the south of Eskay Creek, and occurred much earlier in time than previously
thought. This opens up the potential for discovering an entire Au-Ag VMS district on our property.”
2021 TV Drill Highlights:
Impressively, of the 38 holes completed at TV in 2021, all but three holes returned mineralized intercepts
(2021 TV drill results are presented in the table below). Notable intercepts from the 2021 TV drill
campaign include:
o 10.34 gpt Au eq (3.12 gpt Au and 577.65 gpt Ag) over 11.93m within 4.01 gpt Au eq (2.39
gpt Au and 129.85 gpt Ag) over 117.32m within 2.35 gpt Au eq (1.43 gpt Au and 73.60 gpt
Ag) over 238.87m in hole TV21-67
o 6.8 gpt Au eq (1.9 gpt Au and 367.7 gpt Ag) over 26.0m within 5.2 gpt Au eq (1.3 gpt Au
and 287.4 gpt Ag) over 47.77m within 2.6 gpt Au eq (0.9 gpt Au and 123.2 gpt Ag) over
140.28m in hole TV21-63
o 14.44 gpt Au eq (0.80 gpt Au and 1090.80 gpt Ag) over 9.36m within 10.62 gpt Au eq (0.59
gpt Au and 802.07 gpt Ag) over 14.58m within 2.96 gpt Au eq (0.82 gpt Au and 171.34 gpt
Ag) over 81.60m in hole TV21-71
o 7.2 gpt Au eq (2.2 gpt Au and 374.0 gpt Ag) over 24.09m within 4.7 gpt Au eq (1.5 gpt Au
and 236.0 gpt Ag) over 44.41m within 2.7 gpt Au eq (1.1 gpt Au and 124.0 gpt Ag) over
92.3m in hole TV21-54
o 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
o 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
o 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
o 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
o 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
o 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
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o 3.67 gpt Au eq (3.29 gpt Au and 30.62 gpt Ag) over 27.49m in hole TV21-55
o 4.76 gpt Au eq (3.21 gpt Au and 124.39 gpt Ag) over 15.60m within 2.64 gpt Au eq (1.41 gpt
Au and 98.75 gpt Ag) over 56.60m in hole TV21-66
o 24.69 gpt Au eq (2.96 gpt Au and 1,695 gpt Ag) over 1.99m and 29.02 gpt Au eq (1.20 gpt
Au and 2,170 gpt Ag) over 0.72m within 7.39 gpt Au eq (0.77 gpt Au 516.30 gpt Ag) over
13.38m within 2.64 gpt Au eq (0.59 gpt Au and 160.26 gpt Ag) over 53.86m in hole TV21-70
(some intervals above were originally reported in Company news releases dated November 8, 2021,
December 8, 2021 and January 19, 2022)
Highlights of most recent TV drill results and interpretation:
- 24.69 gpt Au eq (2.96 gpt Au and 1,695 gpt Ag) over 1.99m and 29.02 gpt Au eq (1.20 gpt
Au and 2,170 gpt Ag) over 0.72m within 7.39 gpt Au eq (0.77 gpt Au 516.30 gpt Ag) over
13.38m within 2.64 gpt Au eq (0.59 gpt Au and 160.26 gpt Ag) over 53.86m in hole TV21-
70
- 3.19 gpt Au eq (1.86 gpt Au and 103.80 gpt Ag) over 5.00m within 1.76 gpt Au eq (1.06 gpt
Au and 54.24 gpt Ag) over 28.50m in hole TV21-83
- 9.22 gpt Au eq (0.86 gpt Au and 652.00 gpt Ag) over 2.00m within 3.14 gpt Au eq (0.84 gpt
Au and 200.64 gpt Ag) over 9.12m in hole TV21-80
- 2.91 gpt Au eq (0.36 gpt Au and 199.40 gpt Ag) over 3.57m within 1.33 gpt Au eq (0.61 gpt
Au and 55.88 gpt Ag) over 48.23m in hole TV21-64
- As of the end of the 2021 drill program, the TV deposit, including the upper and lower zones, has been
drilled approximately 225m along strike from north to south and down dip to approximately 130m
(Figures 1 and 2). The TV deposit remains open along strike to the north and south and down dip.
- Given that TV is hosted by the Betty Creek Formation, situated low in the prospective stratigraphy of
this region, Eskay thinks there is good potential for discovery of additional precious metal rich VMS
deposit in prospective stratigraphic units above TV. Potential exists down deeper in the stratigraphy as
well.
- TV is notably elevated in silver with many reportable equivalent intercepts displaying predominant
silver value contribution. Bonanza silver grades are seen in some intercepts at the top of the main
stockwork zone.
- Mineralization at TV appears to be closely associated with domes of dacite lava the extent of which is
unknown but appears expansive.
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- Several SkyTEM conductive anomalies interpreted as potential sulfide deposits lie in close proximity to
TV and will be drill tested during the 2022 drill season. Drilling was cut short in 2021 due to an early
heavy snow event in September.
- Locally, there exist late crosscutting gabbro intrusive dikes at TV, but volumetrically, these appear to be
small with no significant displacement of adjacent mineralization.
- One hole, TV21-81, collared approximately 350m northeast of TV, encountered considerable stockwork
pyrite veining containing anomalous gold and silver values as well as very strong pathfinder elements
including arsenic (100-1,100 ppm), antimony (20-113 ppm) and mercury (1-6 ppm) from 298-344m.
Eskay’s geologic team interprets this to be VMS stockwork mineralization peripheral to a precious
metal rich feeder. Hole TV21-60 was terminated in a gabbro dike and hole TV21-76 did not encounter
any significant mineralized intervals.
- Now that all 2021 drill results have returned, geologic modeling of the TV system is being undertaken
to plan Eskay’s 2022 diamond drilling program. The Company will employ its in-house alteration index
modeling, a geochemical technique utilized by the Colorado School of Mines, to vector in on promising
extensions of the TV deposit. This year, Eskay expects to drill approximately 18,000 m more diamond
drill core at TV to expand the deposit along strike and down dip as well as test stratigraphy above the
current deposit.
Assays from 2021 diamond drill holes at TV:
Hole From (m) To (m) Length (m) Au (gpt) Ag (gpt) Au eq (gpt) Ag eq (gpt)
TV21-46 69.09 79.00 9.91 1.10 28.40 1.46 114.20
TV21-47 33.10 63.51 30.41 2.10 25.90 2.43 189.70
includes 35.30 49.47 14.17 3.30 37.20 3.78 294.60
includes 35.30 38.40 3.10 4.40 23.20 4.70 366.40
and 45.15 49.47 4.32 3.80 43.40 4.36 339.80
TV21-48 65.15 71.78 6.63 1.10 53.60 1.79 139.40
TV21-49 31.15 66.65 35.50 2.20 28.20 2.56 199.80
includes 32.17 35.56 3.39 12.60 50.80 13.25 1033.60
includes 33.15 34.97 1.82 17.50 66.40 18.35 1431.40
includes 56.99 58.98 1.99 4.30 91.60 5.47 427.00
TV21-50 67.31 73.00 5.69 0.86 72.96 1.80 140.04
TV21-51 42.06 95.92 53.86 1.30 101.20 2.60 202.60
includes 49.98 50.98 1.00 2.20 570.00 9.51 741.60
includes 61.99 81.00 19.01 1.70 143.80 3.54 276.40
includes 70.99 75.00 4.01 3.60 246.30 6.76 527.10
TV21-52 65.25 73.95 8.70 3.40 115.40 4.88 380.60
TV21-53 23.99 58.02 34.03 2.30 42.20 2.84 221.60
includes 44.28 50.22 5.94 7.50 151.80 9.45 736.80
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includes 46.20 47.35 1.15 24.60 582.00 32.06 2500.80
TV21-54 211.42 303.71 92.29 1.10 124.00 2.69 209.80
includes 259.30 303.71 44.41 1.50 236.00 4.53 353.00
includes 279.00 303.09 24.09 2.20 374.00 6.99 545.60
TV21-55 27.79 55.28 27.49 3.29 30.62 3.68 287.24
includes 29.30 36.80 7.50 6.98 28.26 7.34 572.70
and 47.15 50.77 3.62 3.39 62.40 4.19 326.82
and 52.74 54.60 1.86 5.04 49.42 5.67 442.54
TV21-56 21.93 62.00 40.07 2.60 65.50 3.44 268.30
includes 21.93 27.19 5.26 3.80 23.90 4.11 320.30
includes 38.76 47.08 8.32 7.60 201.60 10.18 794.40
includes 40.58 47.08 6.50 8.90 203.90 11.51 898.10
TV21-57 110.25 151.05 40.80 1.50 57.60 2.24 174.60
includes 120.19 128.13 7.94 2.60 182.50 4.94 385.30
includes 120.19 122.13 1.94 3.70 285.90 7.37 574.50
includes 138.75 142.01 3.26 3.30 11.90 3.45 269.30
175.00 179.97 4.97 1.10 0.40 1.11 86.20
TV21-58 101.13 108.62 7.49 0.82 203.03 3.42 266.99
includes 104.27 106.25 1.98 2.22 574.80 9.59 747.96
114.50 117.58 3.08 1.00 6.36 1.08 84.36
139.11 146.84 7.73 0.98 23.11 1.28 99.55
TV21-59 223.00 249.25 26.25 0.90 26.50 1.24 96.70
TV21-61 96.64 99.49 2.85 2.99 156.13 5.00 389.74
163.50 165.00 1.50 0.39 101.00 1.68 131.42
TV21-62 100.47 109.30 8.83 0.26 77.93 1.26 97.97
includes 100.47 105.04 4.57 0.24 132.30 1.93 150.63
117.27 124.30 7.03 1.19 0.19 1.19 92.78
TV21-63 3.72 144.00 140.28 0.90 123.20 2.48 193.40
includes 3.72 51.49 47.77 1.30 287.40 4.98 388.80
includes 11.00 37.00 26.00 1.90 367.70 6.61 515.90
and 43.00 47.50 4.50 0.70 429.60 6.21 484.20
TV21-64 105.54 153.77 48.23 0.61 55.88 1.33 103.51
includes 112.97 116.54 3.57 0.36 199.40 2.91 227.17
TV21-65 87.31 95.26 7.95 0.94 58.16 1.68 131.26
includes 91.77 93.92 2.15 1.81 134.60 3.54 275.86
101.27 102.47 1.20 1.18 11.90 1.33 103.55
TV21-66 6.40 63.00 56.60 1.41 98.75 2.68 208.73
includes 6.40 22.00 15.60 3.21 124.39 4.80 374.77
and 37.00 42.00 5.00 0.36 331.80 4.61 359.88
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and 60.75 63.00 2.25 6.06 26.90 6.40 499.58
144.00 186.00 42.00 1.46 32.73 1.88 146.61
includes 168.00 173.60 5.60 3.19 67.64 4.06 316.46
TV21-67 2.68 241.55 238.87 1.43 73.60 2.37 185.14
includes 2.68 120.00 117.32 2.39 129.85 4.05 316.27
includes 12.00 28.00 16.00 2.84 197.23 5.37 418.75
includes 37.00 55.90 18.90 2.54 431.94 8.08 630.06
includes 43.00 54.93 11.93 3.12 577.65 10.53 821.01
includes 78.68 108.54 29.86 5.00 30.62 5.39 420.62
TV21-68 122.49 126.50 4.01 0.40 39.80 0.91 71.00
148.51 162.87 14.36 0.70 38.90 1.20 93.50
includes 149.46 155.01 5.55 0.80 71.60 1.72 134.00
TV21-69 126.94 129.24 2.30 4.43 4.72 4.49 350.26
TV21-70 1.34 55.20 53.86 0.59 160.26 2.64 206.12
includes 1.34 14.72 13.38 0.77 516.30 7.39 576.44
includes 7.65 9.64 1.99 2.96 1695.00 24.69 1925.88
and 14.00 14.72 0.72 1.20 2170.00 29.02 2263.21
TV21-71 3.42 85.02 81.60 0.82 171.34 3.02 235.30
includes 3.42 18.00 14.58 0.59 802.07 10.87 848.09
includes 3.42 12.78 9.36 0.80 1090.80 14.78 1153.20
includes 3.42 5.00 1.58 2.67 2216.72 31.09 2424.98
and 11.79 12.78 0.99 1.66 5040.00 66.28 5169.48
includes 55.97 58.98 3.01 6.21 118.80 7.73 603.18
TV21-72 3.60 48.03 44.43 0.70 32.30 1.11 86.90
includes 31.00 35.00 4.00 1.70 80.70 2.73 213.30
includes 45.00 48.03 3.03 2.80 16.50 3.01 234.90
TV21-73 5.00 13.86 8.86 0.81 30.92 1.21 94.10
TV21-74 79.02 84.00 4.98 2.20 7.78 2.30 179.64
TV21-75 4.20 19.65 15.45 1.00 24.30 1.31 102.30
TV21-77 4.61 13.00 8.39 0.50 94.10 1.71 133.10
TV21-78 36.00 48.09 12.09 0.90 483.00 7.09 553.20
includes 42.85 47.52 4.67 1.80 1138.00 16.39 1278.40
TV21-79 106.98 108.09 1.11 1.14 16.40 1.35 104.93
226.80 231.13 4.33 1.08 38.05 1.56 121.97
TV21-80 67.88 77.00 9.12 0.84 200.64 3.41 266.28
includes 70.26 72.26 2.00 0.86 652.00 9.22 719.16
TV21-82 31.92 40.00 8.08 0.78 50.83 1.43 111.50
TV21-83 53.00 81.50 28.50 1.06 54.24 1.76 137.07
includes 56.00 61.00 5.00 1.86 103.80 3.19 249.04
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Holes in italics previously announce in Company news releases dated November 8, 2021, December 8, 2021 and
January 19, 2022.
Au eq and Ag eq values have all been adjusted to the silver-to-gold ratio of 78:1 for this news release.
Holes TV21-60, -76 and -81 do not have reportable Au and/or Ag values.
2021 Jeff Drill Highlights:
Of the 48 holes completed at Jeff in 2021, 31 holes returned mineralized intercepts (2021 Jeff drill results
are presented in the table below). Notable intercepts from the 2021 Jeff drill campaign include:
o 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
o 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
o 34.23 gpt Au eq (33.86 gpt Au and 28.74 gpt Ag) over 1.93m within 17.83 gpt Au eq (17.56
gpt Au and 20.81 gpt Ag) over 3.88m in hole J21-57
o 5.26 gpt Au eq (4.94 gpt Au and 24.81 gpt Ag) over 4.94m within 2.26 gpt Au eq (1.91 gpt
Au and 27.55 gpt Ag) over 26.42m in hole J21-64
o 35.55 gpt Au eq (17.60 gpt Au and 1,400.00 gpt Ag) over 0.50m within 5.32 gpt Au eq (3.13
gpt Au and 171.11 gpt Ag) over 4.78m in hole J21-58
o 6.58 gpt Au eq (6.36 gpt Au and 17.58 gpt Ag) over 3.00m within 1.83 gpt Au eq (1.65 gpt
Au and 13.29 gpt Ag) over 16.63 m in hole J21-59
o 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
o 2.54 gpt Au eq (2.48 gpt Au and 4.96 gpt Ag) over 5.94m and 7.33 gpt Au eq (7.28 gpt Au
and 3.97 gpt Ag) over 1.49m within 2.56 gpt Au eq (1.28 gpt Au and 102.03 gpt Ag) over
6.51m in hole J21-48
(some intervals above were originally reported in Company news releases dated December 8, 2021 and
January 19, 2022)
Highlights of most recent Jeff drill results and interpretation:
- 34.23 gpt Au eq (33.86 gpt Au and 28.74 gpt Ag) over 1.93m within 17.83 gpt Au eq (17.56
gpt Au and 20.81 gpt Ag) over 3.88m in hole J21-57
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- 5.26 gpt Au eq (4.94 gpt Au and 24.81 gpt Ag) over 4.94m within 2.26 gpt Au eq (1.91 gpt
Au and 27.55 gpt Ag) over 26.42m in hole J21-64
- 35.55 gpt Au eq (17.60 gpt Au and 1,400.00 gpt Ag) over 0.50m within 5.32 gpt Au eq (3.13
gpt Au and 171.11 gpt Ag) over 4.78m in hole J21-58
- 6.58 gpt Au eq (6.36 gpt Au and 17.58 gpt Ag) over 3.00m within 1.83 gpt Au eq (1.65 gpt
Au and 13.29 gpt Ag) over 16.63 m in hole J21-59
- As of the end of the 2021 drill program, the Jeff deposit, including the upper and lower zones, has been
drilled approximately 625 m along strike from north to south and down dip to approximately 190 m
(Figures 3 and 4). The Jeff deposit remains open along strike to the north and south and down dip.
- Jeff occurs lower in the Betty Creek Formation than the TV deposit. Therefore, Eskay thinks there is
good potential for discovery of additional precious metal rich VMS deposit in prospective stratigraphic
units above Jeff, especially at the same level at which TV occurs.
- Like TV, mineralization at Jeff appears to be closely associated by domes of dacite lava, the extent of
which is unknown but appears expansive.
- Jeff locally displays bonanza gold grades, all occurring in stockwork feeder mineralization. Eskay thinks
this bodes well for future discovery of gold-rich massive sulfide style mineralization in the area.
- Multiple SkyTEM conductive anomalies interpreted as potential sulfide deposits lie to the north of Jeff
as well as to the south between Jeff and TV. These will be drill tested during the 2022 drill season.
- Like TV, geologic modeling of the Jeff system is being undertaken before planning Eskay’s 2022
diamond drilling program. Use of alteration index modeling will be critical to vector in on promising
extensions of the Jeff deposit. In 2022, Eskay anticipates drilling approximately 5000 m more diamond
drill core at Jeff and surrounding targets.
Assays from 2021 diamond drill holes at Jeff:
Hole From (m) To (m) Length (m) Au (gpt) Ag (gpt) Au eq (gpt) Ag eq (gpt)
J21-41 98.43 100.71 2.28 0.70 20.60 0.96 75.20
J21-42 4.60 6.95 2.35 4.40 8.40 4.51 351.60
J21-43 4.40 20.79 16.39 1.30 29.70 1.68 131.10
includes 4.40 5.65 1.25 6.70 126.80 8.33 649.40
35.00 38.03 3.03 0.50 45.30 1.08 84.30
346.62 348.14 1.52 2.40 1.50 2.42 188.70
352.68 354.10 1.42 1.40 3.70 1.45 112.90
375.75 378.00 2.25 1.40 1.80 1.42 111.00
J21-44 6.90 9.47 2.57 1.20 63.20 2.01 156.80
18.20 33.02 14.82 1.40 42.90 1.95 152.10
J21-45 108.51 109.49 0.98 0.93 15.25 1.13 87.79