Skeena Initiates Metallurgical Optimizations and Preliminary Economic Assessment for Eskay Creek
Skeena Initiates Metallurgical Optimizations and
Preliminary Economic Assessment for Eskay Creek
Vancouver, BC ( March 2 6, 201 9) Skeena Resources Limited (TSX.V: SKE, OTCQX: SKREF)
(“Skeena” or the “Company”) is pleased to announce that metallurgical optimizations as well as a
Preliminary Economic Assessment, for the Eskay Creek Project (“Eskay Creek”) have been initiated.
The Company also welcomes Stacy Freudigmann, P.Eng., to the Skeena team as Project Manager
for the aforementioned studies. Eskay Creek is endowed with excellent infrastructure including road
access, proximity to recently commissioned 195MW run-of-river hydroelectric facilities, tailings storage
capacity and historical underground development situated less than 100 metres from existing mineral
resources.
Phase I Metallurgical Optimizations
Demonstrated metallurgy from the past producing Eskay Creek mine involved a 350 TPD flotation
plant with average gold and silver recoveries of 80% and 92% respectively. Gravity separation of gold
accounted for 10 -30% of preliminary separation. Sulphide c oncentrates were subsequently
transported via truck to either the Port of Stewart for further smelting in Japan or trucked to Kitwanga
for loading onto rail cars and transported to a smelter in Quebec.
Notwithstanding the proven historical process associated with flotation, the Company will be
investigating the amenability of the Eskay Creek blended mineralization to leaching.
The Blue Coast Research Group (“Blue Coast”), located in Parksville British Columbia, is currently
undertaking the metallurgical investigations and subsequent optimizations. Blue Coast provides
metallurgical laboratory test work services, specializing in precious and base metals , metallurgical
flowsheet development, evaluati on of processes and technologies including grinding, froth flotation,
gravity concentration, leaching, heap leaching, to full continuous pilot plant testing.
The Phase I metallurgical testing is proceeding on schedule with results anticipated in Q2 2019.
Preliminary Economic Assessment
Ausenco Engineering Canada Inc. (“Ausenco”) has been engaged to perform a Preliminary Economic
Assessment (“PEA”) for Eskay Creek. The PEA will contemplate an open pit mining scenario with a
small up-front contribution of underground resources. Dependent on the results of the metallurgical
optimizations, subsequent t rade-off analyses will contemplate either the leaching or flotation
processes. The Eskay Creek PEA is scheduled for completion in Q3 2019.
Ausenco is a global diversified engineering, construction and project management company providing
consulting, project de livery and asset management solutions to the resources, energy and
infrastructure sectors. Ausenco’s experience in gold projects ranges from conceptual, pre -feasibility
and feasibility studies for new project developments to project execution with EPCM and EPC delivery.
Ausenco is currently engaged on a number of global projects with similar characteristics and
opportunities to Eskay Creek.
NR: 19-06
March 26, 2019
New Project Manager Strengthens Operational Team
Stacy Freudigmann P.Eng., is a metallurgist with over 20 years’ experience, specializing in areas of
mining management, metallurgy and process engineering, project management and development. He
possesses extensive experience in evaluating, directing and coordinating engineering for mineral
development projects and man aging process operations and production. Stacy brings with him the
proven capability to oversee large engineering studies for clients , including Prefeasibility and
Feasibility studies, as well as the proven ability to solve complex metallurgical and process issues. His
founding of Canenco Consulting Corp. (“Canenco”) in 2010 has seen him assist multiple mining and
engineering companies around the world such as Nystar N.V., Sabina Gold & Silver Corp., Lion One
Metals Ltd., SRK Consulting Inc., Dalradian Reso urces Inc. and more. Other operational, technical
and management experience includes Pebble Limited Partnership working with Northern Dynasty and
Anglo American, Hunter Dickinson Inc., Taseko Mines Ltd and Placer Dome.
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 further development of the past -
producing Eskay Creek and Snip 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 Prac tices 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 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 securities laws.
Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for
the adequacy or accuracy of this release.