Skeena Intersects 10.52 g/t Gold Over 4.10 Metres at Snip
Skeena Intersects 10.52 g/t Gold Over 4.10 Metres at Snip
Vancouver, BC ( August 9, 2018) Skeena Resources Limited (TSX.V: SKE, OTCQX: SKREF )
(“Skeena” or the “Company”) is pleased to report additional assay results for six drill holes from the
Phase II underground drilling program at the Company’s 100% owned Snip Gold Project (“Snip”)
located in the Golden Triangle of British Columbia.
The Phase II drilling program is now complete. A total of 9,583 metres was drilled over 48 underground
drill holes and two surface drill holes. Building upon the data gathered from the Phase I campaign, the
Phase II program was designed to expand newly modelled zones via widely spaced exploratory drill
step-outs, further delineate known mineralization in areas of low drilling density and validate the
historical data in preparation for a mai den resource estimate at Snip. A reference mine section is
presented at the end of this release, and on the Company’s website.
Phase II Drilling Highlights:
• 11.03 g/t Au over 3.00 m (UG18-101)
• 185.00 g/t Au over 0.60 m (UG18-101)
• 23.84 g/t Au over 1.50 m (UG18-103)
• 17.93 g/t Au over 2.00 m (UG18-103)
• 8.68 g/t Au over 3.90 m (UG18-103)
• 10.52 g/t Au over 4.10 m (UG18-104)
Eastern Twin Zone Continues to Demonstrate Continuity
Delineation drilling on the Eastern Twin Zone continues to add gold grade and confidence to areas
that were not fully sampled during previous operator s’ historical drilling programs. The Phase II
program is designed to populate this area with new drilling and analytical data in preparation for a
maiden resource estimate at Snip.
2018 Phase II drillhole UG18-104, which intersected 10.52 g/t Au over 4.10 metres in the Eastern
Twin Zone, is located 25 metres downdip of UG18 -102 which intersected 11.14 g/t Au over 2.00
metres. These new intersections are bracketed up and down dip by previously reported 2018 drillholes
UG18-093 and UG18-091 which intersected 9.14 g/t Au over 10.20 metres and 5.60 g/t over 19.85
metres respectively, for a total dip extent of 75 metres.
Additional mineralization surrounding the Eastern Twin Zone was also intersected by UG18-101 which
averaged 11.03 g/t Au over 3.00 metres in the footwall. UG18-101 also intersected 185.00 g/t Au
over 0.60 metres occurring 15 metres into the hangingwall to the Eastern Twin Zone, where a new
zone of mineralization is beginning to be defined.
NR: 18-18
August 9, 2018
Discussion of Historical Data and Practices
Regrettably, prior to the implementation of National Instrument 43- 101 standards, reclamation of the
mine in 1999 included disposal of all historical drill core, resulting in the inability to now validate any
prior operators’ databases to modern standards. This lack of historic drill core and supporting drilling
documentation, paired with the wide spacing of historical drilling in undeveloped areas necessitates
that Skeena devote a percentage of its drilling campaign to validate the historical data. This will allow
for high confidence underground resources to be 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 has completed a Preliminary E conomic Assessment on the GJ copper -gold porphyry
project.
On behalf of the Board of Directors of Skeena Resources Limited,
Walter Coles Jr.
President & CEO
Qualified Persons
Exploration activities at the Snip Gold 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.
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 shipments 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 digestion, follow ed by Inductively Coupled
Plasma Atomic Emission Spectroscopy (ICP -AES) and Inductively Coupled Plasma Mass
Spectroscopy (ICP-MS).
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 assur ance 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 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 drillhole gold composites:
HOLE-ID FROM (M) TO (M) CORE LENGTH (M) AU (G/T) AREA
UG18-099 69.00 70.50 1.50 6.25 EASTERN TWIN ZONE
UG18-100 72.50 73.00 0.50 16.30 EASTERN TWIN ZONE
UG18-100 83.00 83.50 0.50 7.76 EASTERN TWIN ZONE
UG18-100 91.50 92.00 0.50 7.65 EASTERN TWIN ZONE
UG18-101 67.50 70.50 3.00 11.03 EASTERN TWIN ZONE
INCLUDING 67.50 68.00 0.50 11.55 EASTERN TWIN ZONE
AND 68.50 69.00 0.50 33.10 EASTERN TWIN ZONE
UG18-101 80.00 80.50 0.50 5.15 EASTERN TWIN ZONE
UG18-101 85.30 87.00 1.70 11.56 EASTERN TWIN ZONE
INCLUDING 86.50 87.00 0.50 19.40 EASTERN TWIN ZONE
UG18-101 93.00 93.60 0.60 185.00 HW EASTERN TWIN ZONE
UG18-102 90.00 92.00 2.00 11.14 EASTERN TWIN ZONE
INCLUDING 90.50 91.00 0.50 33.80 EASTERN TWIN ZONE
UG18-103 57.00 58.50 1.50 23.84 EASTERN TWIN ZONE
INCLUDING 57.00 57.50 0.50 48.50 EASTERN TWIN ZONE
AND 57.50 58.00 0.50 21.30 EASTERN TWIN ZONE
UG18-103 68.50 70.50 2.00 17.93 EASTERN TWIN ZONE
INCLUDING 68.50 69.00 0.50 67.60 EASTERN TWIN ZONE
UG18-103 99.10 103.00 3.90 8.68 HW EASTERN TWIN ZONE
INCLUDING 101.00 102.50 1.50 19.00 HW EASTERN TWIN ZONE
UG18-104 79.10 83.20 4.10 10.52 EASTERN TWIN ZONE
INCLUDING 79.60 81.10 1.50 11.95 EASTERN TWIN ZONE
AND 81.10 82.20 1.10 21.10 EASTERN TWIN ZONE
UG18-104 89.90 90.90 1.00 17.16 HW EASTERN TWIN ZONE
INCLUDING 89.90 90.40 0.50 24.70 HW EASTERN TWIN ZONE
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 drillhole locations and orientations.
HOLE-ID EASTING NORTHING ELEVATION LENGTH (M) AZIMUTH DIP
UG18-099 4849.2 2308.8 572.8 115.8 180.0 9.8
UG18-100 4849.3 2309.0 572.1 110.0 180.1 -3.8
UG18-101 4849.2 2309.6 574.3 110.3 180.6 44.9
UG18-102 4849.3 2310.5 574.5 115.2 180.2 59.6
UG18-103 4849.5 2309.3 573.5 109.7 171.0 28.0
UG18-104 4849.5 2309.8 574.3 110.6 170.4 46.9