Skeena Commences Pre-Feasibility Study For Eskay Creek
Skeena Commences Pre-Feasibility Study For Eskay Creek
Vancouver, BC ( June 15, 20 20) Skeena Resources Limited (TSX.V: SKE, OTCQX: SKREF)
(“Skeena” or the “Company”) is pleased to announce the commencement of a Preliminary Feasibility
Study (“PFS”) for the Eskay Creek gold-silver project (“Eskay Creek”) located in the Golden Triangle
of northwest British Columbia. The goal of the PFS is to technically further de-risk Eskay Creek while
developing an appropriate execution strategy to ensure fast tracked development towards commercial
production.
Given the success of the team that developed the Preliminary Economic Assessment (“PEA”) study
for Eskay Creek, Skeena will once again partner with Ausenco Engineering Canada Inc. (“Ausenco”),
SRK Consulting (“SRK”), and AGP Mini ng Consultants (“AGP”) to complete the PFS. The t arget
completion date for the PFS is summer 2021.
Shane Williams, Skeena’s new Chief Operating Officer commented, “ I am very excited to be joining
the Skeena team at this transitional stage in the Company’s history. The PFS is the next step in the
evolution of Eskay Creek as we move this high -grade, open -pit project towards development and
through to commercial production.”
PFS Work Program
A key work program as part of the development of the PFS will be an extensive infill drilling program
to convert a large portion of the Inferred resources into the Measured & Indicated category and
following completion of the PFS, declare maiden reserves for Eskay Creek.
Following the completion of the Eskay Creek PEA in 2019, several areas were identified that could be
optimized and enhanced with further work. This includes optimizing the metallurgy and the concentrate
quality and to better optimize the flow sheet. This work will further enhance the consistency and value
of the final concentrate produced allowing for key concentrate offtake discussion s to begin. Another
focus area will be to gain a better understanding of the geotechnical characteristics in the open-pit
which will allow for further pit optimization studies. Preparations and planning for these
work programs are ongoing.
Subject to the agreement with Barrick, upon exercise of the option to acquire a 100%-interest in Eskay
Creek (by December 2020), the Com pany will enter the permitting process for the expanded Eskay
Creek project. Skeena has already begun the comprehensive environmental studies that are required
for permitting and has initiated community engagement and consultation with Indigenous Nations .
Skeena has developed a comprehensive environmental program designed to fill identified historical
data gaps and to enhance existing data to meet current standards. Rescan Tahltan Environmental
Consultants (RTEC), a subsidiary of ERM, has been engaged to carry out the environmental studies.
NR: 20-16
June 15, 2020
Warrant Update
Between June 5 and June 13, 2020, 5,146,616 warrants were exercised for total proceeds of
C$5,146,616, and the Company’s remaining 127,423 outstanding warrants expired unexercised. The
Company now has zero warrants outstanding.
About Skeena
Skeena Resources Limited is a junior Canadian mining exploration company focused on developing
prospective precious 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 Eskay
Creek gold-silver mine. The Company released a robust Preliminary Economic Assessment in late
2019 and is currently focused on infill and exploration drilling at E skay Creek to advance the project
to Pre-feasibility. Skeena is also exploring the past-producing Snip gold mine.
On behalf of the Board of Directors of Skeena Resources Limited,
Walter Coles Jr.
President & CEO
Qualified Persons
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 techni cal and scientific content of this
news release. The Company strictly adheres to CIM Best Practices Guidelines in conducting,
documenting, and reporting its exploration and development activities on its projects.
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 statements and information may be identified by such terms as
“anticipates”, “b elieves”, “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 operating costs, the availability of
financing, the receipt of regulatory ap provals, 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 information 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 securit ies laws.
Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for
the adequacy or accuracy of this release.