Skeena Commences Drilling at Eskay Creek
Skeena Commences Drilling at Eskay Creek
Vancouver, BC ( August 07, 2019) Skeena Resources Limited (TSX.V: SKE, OTCQX: SKREF)
(“Skeena” or the “Company”) is pleased to announce that surface drilling has commenced at the Eskay
Creek Gold-Silver Project (“Eskay Creek” or the “Project”) located in the Golden Triangle of British
Columbia.
2019 Drill Program
The 2019 Phase I drill program at Eskay Creek will initially focus on converting pit constrained Inferred
resources to Indicated resources via infill in the 22, 21A, 21E and HW Zones. These zones have been
prioritized for helicopter supported drilling such that the remaining drilling in the 21B Zone c an be
performed with ground transported drill rigs later this year.
This initial phase of drilling at Eskay Creek will total approximately 15,000 metres over 200 drill holes
with average drilling depths of 75 met res. Hole spacings required for indicated resources varies by
zone but averages 15 to 20 metres between drill holes. A second drill rig will be mobilized to Eskay
Creek in the coming weeks to accelerate the drilling schedule and may focus on exploration step-out
holes to test for additional tonnage potential.
The Company also plans to mobilize a drill rig to the Snip Gold Project later this fall for a 5,000 metre
program targeting mineralization in the down plunge of the Twin Zone and in the 200 Foot Wall Zone.
Eskay Creek PEA Update
The Preliminary Economic Assessment (“PEA”) for Eskay Creek is currently being undertaken by
Ausenco Engineering Canada Inc. (“Ausenco”) in Vancouver and is scheduled for completion in the
third quarter of 2019. It will include an assessment of an open-pit mining scenario followed by flotation
and pressure oxidation of the concentrate for precious metal recovery with tailings deposition similar
to historical operations.
Ausenco is a global diversified engineering, construction and project management company providing
consulting, project delivery and asset management solutions to the resources, energy and
infrastructure sectors; with experience in all stages of project dev elopment. Ausenco has previously
been engaged on several global projects with similar characteristics and opportunities to Eskay Creek.
About Eskay Creek
In December 2017, Skeena secured an option to acquire 100% interest in the Eskay Creek property.
Discovered in the Golden Triangle in 1988, the former Eskay Creek mine produced approximately 3.3
million ounces of gold and 160 million ounces of silver at average grades of 45 g/t gold and 2,224 g/t
silver and was once the world’s highest-grade gold mine.
In February 2019, Skeena released an updated Mineral Resource Estimate for Eskay Creek. The pit
constrained Indicated resource includes 2.46 million gold equivalent ounces within 12.7 million
tonnes at an average gold equivalent grade of 6.0 g/t. The pit constrained Inferred resource
includes 1.23 million gold equivalent ounces within 13.6 million tonnes at an average gold equivalent
NR: 19-13
August 07, 2019
grade of 2.8 g/t. The underground Indicated resource estimate includes 218,000 gold equivalent
ounces within 819,000 tonnes at an average gold equivalent grade of 8.2 g/t. The
underground Inferred resource estimate includes 78,000 gold equiva lent ounces within 295,000
tonnes at an average gold equivalent grade of 8.2 g/t.
About Skeena
Skeena Resources Limited is a junior Canadian mining exploration company focused on developing
prospective precious and base metal properties in the Golden Triangle of northwest British Columbia,
Canada. The Company’s primary activities are the exploration and development of the past-producing
Snip and Eskay Creek mines, both optioned from Barrick. In addition, the Company has completed a
Preliminary Economic Assessment on the GJ copper-gold porphyry project.
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 its exploration
activities on its exploration projects.
On behalf of the Board of Directors of Skeena Resources Limited,
Walter Coles Jr.
President & CEO
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 stateme nts 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 oper ating 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 info rmation 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 TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for
the adequacy or accuracy of this release.