Skeena Initiates Phase II Underground Drilling at Snip
Skeena Initiates Phase II Underground Drilling at Snip
Vancouver, BC ( April 3 , 2018) Skeena Resources Limited (TSX.V: SKE, OTCQX: SKREF )
(“Skeena” or the “Company”) is pleased to announce the commencement of underground drilling at
its 100% owned Snip Project located in the Golden Triangle of British Columbia. The budgeted Phase
II drill program totalling 11,000 metres is being performed from the existing underground infrastructure
utilizing two drill rigs. Building upon the data gathered from the recently completed Phase I campaign,
the 2018 program is designed to further delineate areas of known mineralization with low drill density
and to expand newly modelled zones via widely spaced exploratory drill step outs. Reference mine
sections are presented at the end of this release as well as on the Company’s website.
200 Footwall
Situated 200 metres below the Twin Zone which produced 709,601 ounces averaging 28.95 g/t Au,
the newly interpreted 200 Footwall is a parallel structure geologically and structurally analogous to the
mineralization hosted in the Twin Zone (Figure 1). The 200 Footwall received limited underground
drilling from previous operators and was tested by 2016 Skeena drill hole S16-006 which intersected
16.24 g/t Au over 13.50 metres in a previously undrilled area (Figure 2). The lack of drilling and
geological similarities to the Twin Zone 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.
Eastern Twin Zone
Along its strike extension beyond the eastern portion of the Snip Mine, the Eastern Twin Zone was
less densely drill defined by the former operators and never developed. During the 2017 Phase I
program, Skeena targeted this area and intersected 91.56 g/t Au over 3.82 metres in UG17-062 at a
vertical depth of 50 metres below surface. The depth potential of the Eastern Twin Zone was also
tested by drill hole UG17-035 which intersected two broad intervals grading 19.26 g/t Au over 11.85
metres followed by 11.21 g/t Au over 5.95 metres at a vertical depth of 370 metres below surface
(Figure 3). As the Eastern Twin Zone remains open for expansion down plunge below these new
intersections, 2018 drilling on the Eastern Twin Zone will focus on infill drilling as well as testing depth
extensions.
412 Corridor
Mineralization in the 412 Corridor is characterized by a network of discrete, structurally controlled veins
geologically akin to the historically mined 130 and 150 veins. Together, these two mineralized zones
accounted for 23% of historical gold production at Snip, averaging 24.93 g/t Au from 304,508 Tonnes.
Phase II underground drilling of the Eastern Twin Zone will utilize drill stations that will also test the
412 Corridor (Figure 3).
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 technical and scientific content of this
news release. The Company strictly adheres to CIM Best Practices Guidelines in conducting,
NR: 18-11
April 3, 2018
documenting, and reporting its exploration activities. The exact geometry and hence true width of the
mineralized zones cannot be assuredly concluded at this time, therefore core lengths are reported.
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, both acquired from Barrick. In addition, the
Company is performing preliminary exploration on the past -producing Porter Idaho silver mine and
has completed a Preliminary Economic Assessment on the GJ copper-gold porphyry project.
On behalf of the Board of Directors of Skeena Resources Limited,
Walt 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 ava ilable 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 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 information are not
guarantees of future performance and readers should not place undue importance on such statements as actual eve nts
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.
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