Skeena Drilling Intersects More High-grade Gold at Snip
Skeena Drilling Intersects More High-grade Gold at Snip
• 14.49 g/t Au over 4.1 m in the Twin Zone Extension
• 11.74 g/t Au over 4.5 m in the 412 Zone Infill
Vancouver, BC ( May 16, 2018 ) Skeena Resources Limited (TSX.V: SKE, OTCQX: SKREF)
(“Skeena” or the “Company”) is pleased to announce analytical results from the first 8 holes of the
recently initiated Phase II underground drilling program at the Company’s 1 00% owned Snip Gold
Project (“Snip”) located in the Golden Triangle of British Columbia.
The 2018 Phase II diamond drill program totalling 11,000 m is being drilled from existing underground
infrastructure utilizing two drill rigs. The 2018 program is building upon the data gathered from the
2017 Phase I campaign, and is designed to further delineate known mineralization in areas with low
drill density, and to expand newly modelled zones via widely spaced exploratory step-out drill holes
(see mine sections presented at the end of this release as well as on the Company’s website).
Eastern Twin Zone Expansion
Drilling on the eastern strike-extension of the Twin Zone is focusing on increasing drill density and
geological confidence in areas with a paucity of historical drill intercepts.
• UG18-072 intersected 14.49 g/t Au over 4.05 m . This intercept expands the Twin Zone at a
vertical depth of 320 m below surface and 100 m up-plunge from previously reported broad
intervals of 19.26 g/t Au over 11.85 m and 11.21 g/t Au over 5.95 m in UG17-035 at a vertical
depth of 375 m below surface.
This new mineralization is also corroborated by the previously reported intercept of 35.49 g/t Au over
4.35 m in UG17-036. There is high potential for further discovery here as h istorical drill hole pierce
points are widely-spaced and the Twin Zone remains untested by drilling at-depth and along strike.
412 Veining Corridor Infill Drilling
Drill stations in the footwall development that are targeting the Eastern Twin Zone also cross the 412
Veining Corridor. Current drilling is expanding upon and adding geological confidence in this area.
• UG18-064 intersected 11.74 g/t Au over 4.50 m and confirms the continuity of the 412 Veining,
as the intercept is positioned 25 m west of historical drill hole UG-1723 which intersected 25.90
g/t Au over 1.00 m. Drill hole spacings in the 412 Veining Corridor average 25 m.
Phase II Drill Program & 200 Footwall Update
The ongoing 11,000 m Phase II infill and exploratory drill program at Snip is well underway with 28
drill holes completed to-date in the Eastern Twin and 412 Veining Corridor Areas. The Company has
also relocated a drill rig to test the newly modelled 200 Footwall Corridor now that services have been
provided to the necessary underground drill bays. Situated 200 m below the Twin Zone , which
historically produced 709,601 oz Au averaging 28.95 g/t Au, the 200 Footwall is interpreted as a
parallel, en echelon structure which is geologically and structurally analogous to , and contains
NR: 18-13
May 16, 2018
mineralization similar to the Twin Zone. The 200 Footwall received limited underground drilling fr om
previous operators and was successfully tested by 2016 Skeena drill ing which intersected 16.24 g/t
Au over 13.50 m (S16-006) in a previously undrilled area. The geological similarities to the Twin Zone,
coupled with the lack of drill testing, make the 200 Footwall a substantial exploration target and a large
portion of the 2018 program is designed to expand upon this newly modelled and largely untested
area.
Analytical results from the Phase II program will be disclosed in a timely manner once received.
Qualified Persons
Exploration activities at Snip 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 R esource
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 r eporting its exploration activities on its
exploration projects.
Quality Assurance – Quality Control
Once received from the drill and processed, all drill core samples are sawn in half, labelled and
bagged. The remaining drill core is subsequently securely stored on site. Numbered security tags are
applied to lab shipments for chain of custody requirements. The Company inserts quality control (QC)
samples at regular intervals in the sample stream, including blanks and reference materials with all
sample s hipments to monitor laboratory performance. The QAQC program was designed and
approved by Lynda Bloom, P.Geo. of Analytical Solutions Ltd., and is overseen by the Company’s
Qualified Person, Paul Geddes, P.Geo., Vice President Exploration and Resource Development.
Drill core samples are submitted to ALS Geochemistry’s analytical facility in North Vancouver, British
Columbia for preparation and analysis. The ALS facility is accredited to the ISO/IEC 17025 standard
for gold assays and all analytical methods include quality control materials at set frequencies with
established data acceptance criteria. The entire sample is crushed and 250 grams is pulverized.
Analysis for gold is by 50g fire assay fusion with atomic absorption (AAS) finish with a lower limit of
0.01 ppm and upper limit of 100 ppm. Samples with gold assays greater than 10 ppm are re-analyzed
using a 1,000g screen metallic fire assay. A selected number of samples are also analyzed using a
48 multi -elemental geochemical package by a 4 -acid digest ion, followed by Inductively Coupled
Plasma Atomic Emission Spectroscopy (ICP -AES) and Inductively Coupled Plasma Mass
Spectroscopy (ICP-MS).
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 mine and the recently optioned Eskay Creek mine, bo th acquired from Ba rrick. In addition, the
Company has completed a Preliminary Econ omic Assessment on the GJ copper -gold porphyry
project.
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 statements 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 operating costs, the availability of
financing, the receipt o f 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 information are not
guarantees of future performance and read ers 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.
Table 1: Snip Project Phase II length weighted drill hole gold composites:
HOLE-ID FROM (M) TO (M) LENGTH (M) AU (G/T) AREA
UG18-063 28.00 29.75 1.75 5.72 412
UG18-063 151.25 152.40 1.15 4.15 TWIN EAST
UG18-064 69.50 74.00 4.50 11.74 412
INCLUDING 69.50 71.00 1.50 31.80 412
UG18-064 108.00 109.50 1.50 9.74 TWIN EAST
UG18-064 113.70 114.40 0.70 14.00 TWIN EAST
UG18-064 144.00 145.50 1.50 6.76 TWIN EAST HW
UG18-065 56.05 56.55 0.50 8.38 412
UG18-065 84.67 85.17 0.50 4.27 TWIN EAST
UG18-066 49.10 49.60 0.50 10.15 412
UG18-066 52.60 53.10 0.50 9.45 412
UG18-066 80.50 82.00 1.50 9.00 TWIN EAST
UG18-067 82.90 83.40 0.50 9.85 412
UG18-067 202.00 203.56 1.56 4.94 TWIN EAST
UG18-068 186.50 188.00 1.50 6.89 TWIN EAST
UG18-069 82.08 83.23 1.15 17.20 412
UG18-069 111.00 114.00 3.00 5.89 TWIN EAST
INCLUDING 111.00 112.00 1.00 10.20 TWIN EAST
UG18-069 120.00 121.50 1.50 8.60 TWIN EAST
UG18-069 137.50 138.00 0.50 10.80 TWIN EAST
HOLE-ID FROM (M) TO (M) LENGTH (M) AU (G/T) AREA
UG18-069 140.80 141.30 0.50 6.21 TWIN EAST
UG18-069 142.04 143.00 0.96 6.39 TWIN EAST
UG18-069 173.00 174.00 1.00 6.46 TWIN EAST HW
UG18-070 ABANDONED HOLE
UG18-071 ASSAYS PENDING
UG18-072 81.25 85.30 4.05 14.49 TWIN EAST
INCLUDING 81.25 81.75 0.50 13.55 TWIN EAST
AND 82.25 83.10 0.85 8.91 TWIN EAST
AND 83.10 83.60 0.50 12.80 TWIN EAST
AND 83.60 84.30 0.70 18.00 TWIN EAST
AND 84.30 84.80 0.50 49.30 TWIN EAST
True widths cannot be accurately determined from the information available therefore core lengths are
reported. Top cuts have not been applied to high grade assays.
Table 2: Mine grid Phase II underground drill hole locations and orientations.
HOLE-ID EASTING NORTHING ELEVATION LENGTH (M) AZIMUTH DIP
UG18-063 4849.1 2185.8 416.8 225.6 180.6 -20.3
UG18-064 4849.1 2185.7 417.2 195.1 180.4 0.0
UG18-065 4849.1 2185.7 418.0 185.6 180.2 19.8
UG18-066 4849.1 2186.3 419.4 248.6 178.9 49.9
UG18-067 4919.9 2371.4 550.4 251.8 180.7 -10.0
UG18-068 4920.0 2371.0 552.0 250.2 176.6 -0.9
UG18-069 4920.0 2371.0 552.0 251.8 176.5 14.4
UG18-072 4930.0 2188.0 420.0 196.9 167.8 4.9