Skeena Intersects 12.51 g/t AuEq over 19.15 metres in 21C Zone Infill Drilling at Eskay Creek
Skeena Intersects 12.51 g/t AuEq over 19.15 metres
in 21C Zone Infill Drilling at Eskay Creek
Vancouver, BC ( March 2 , 2021) Skeena Resources Limited (TSX: SKE, OTCQX: SKREF)
(“Skeena” or the “Company”) is pleased to report the last diamond drill core results from the Phase 2
campaign of definition and exploration drilling at the Eskay Creek Project (“Eskay Creek” or the
“Project”) located in the Golden Triangle of British Columbia. The Phase 2 infill program, focused upon
resource category conversions for the Pre -Feasibility S tudy (“PFS”) on open -pit constrained
resources, is now complete. This release presents the last of the Phase 2 results. The Company has
also recently completed a 5,000 m near -mine exploration program at Eskay Creek with results
expected shortly. Reference images are presented at the end of this release as well as on the
Company’s website.
Eskay Creek Infill Drilling Highlights:
21C Zone:
• 3.35 g/t Au, 9 g/t Ag (3.47 g/t AuEq) over 33.93 m (SK-21-677)
• 7.10 g/t Au, 406 g/t Ag (12.51 g/t AuEq) over 19.15 m (SK-21-678)
• 2.82 g/t Au, 57 g/t Ag (3.58 g/t AuEq) over 49.00 m (SK-21-679)
• 5.45 g/t Au, 12 g/t Ag (5.61 g/t AuEq) over 26.80 m (SK-21-702)
• 3.99 g/t Au, 14 g/t Ag (4.17 g/t AuEq) over 41.92 m (SK-21-815)
• 3.97 g/t Au, 13 g/t Ag (4.15 g/t AuEq) over 28.00 m (SK-21-816)
HW Zone:
• 6.06 g/t Au, 11 g/t Ag (6.21 g/t AuEq) over 16.40 m (SK-21-805)
• 3.20 g/t Au, 11 g/t Ag (3.34 g/t AuEq) over 32.19 m (SK-21-806)
Gold Equivalent (AuEq) calculated via the formula: Au (g/t) + [Ag (g/t) / 75]. True widths range from 70 -100% of reported core lengths. Length
weighted AuEq composites are constrained by geological considerations. Grade -capping of individual assays has not been applied to the Au
and Ag assays informing the length -weighted AuEq composites. Metallurgical processing recoveries have not been applied to the AuEq
calculation and are taken at 100%. Samples below detection limit were nulled to a value of zero.
Improved Widths Observed In 21C Zone
Mineralization within the 21C Zone has been expanded to depth as confirmed by 2021 Phase 2 drill
intersection 2.82 g/t Au, 57 g/t Ag (3.58 g/t AuEq) over 49.00 m (SK-21-679) in a combination of
Contact Mudstones and Rhyolite breccias. The nearest historical drill hole intersected comparable
grade but over a lesser width, averaging 4.04 g/t AuEq over 25.99 m (C011099). Additional high-grade
gold-silver mineralization was intersected by a flanking drill hole which intersected 7.10 g/t Au, 406 g/t
Ag (12.51 g/t AuEq) over 19.15 m (SK-21-678) hosted in Contact Mudstones with a second Rhyolite-
hosted interval grading 2.87 g/t Au, 7 g/t Ag (2.97 g/t AuEq) over 18.40 m.
NR: 21-09 | March 2, 2021
Additional Mineralization Established in HW Zone
Supplementary near surface gold-silver mineralization has been established over two new intervals
by SK-21-803 in the HW Zone averaging 2.14 g/t Au, 27 g/t Ag (2.50 g/t AuEq) over 7.57 m and 2.09
g/t Au, 25 g/t Ag (2.42 g/t AuEq) over 10.32 m, respectively. These grades and widths compare closely
to the surrounding historical drill holes which informed the Company’s current Mineral Resource
Estimate (MRE). However, this drill hole represents a potential expansion to the in-pit resource base
due to its location outside the limits of the current resource blocks.
About Skeena
Skeena Resources Limited is a Canadian mining exploration company focused on revitalizing the past-
producing Eskay Creek gold -silver mine located in Tahltan Territory in the Golden Triangle of
northwest British Columbia, Canada. The Company released a robust Preliminary Economic
Assessment in late 2019 and is currently focused on infill and exploration drilling to advance Eskay
Creek to full Feasibility by the end of 2021. Additionally, Skeena continues exploration programs at
the past-producing Snip gold mine.
On behalf of the Board of Directors of Skeena Resources Limited,
Walter Coles Jr.
President & CEO
Contact Information
Investor Inquiries: [email protected]
Office Phone: +1 604 684 8725
Company Website: www.skeenaresources.com
Qualified Persons
Exploration activities a t the Eskay Creek Project are administered on site by the Company’s
Exploration Managers, Raegan Markel, 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
the exploration activities on its 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 1 kg is pulverized. Analysis for
gold is by 50 g 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 100 ppm are re-analyzed using a 50 g
fire assay fusion with gravimetric finish. Analysis for silver is by 50 g fire assay fusion with gravimetric
finish with a lower limit of 5ppm and upper limit of 10,000 ppm. Samples with silver assays greater
than 10,000 ppm are re -analyzed using a gravimetric silver concentrate method. A selected number
of samples are also analyzed using a 48 multi -element geochemical package by a 4 -acid digestion,
followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP -AES) and Inductively
Coupled Plasma Mass Spectroscopy (ICP-MS) and also for mercury using an aqua regia digest with
Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP -AES) finish. Samples with sulfur
reporting greater than 10% from the multi -element analysis are re -analyzed for total sulfur by Leco
furnace and infrared spectroscopy.
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 expect ations.
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 matt ers. While the
Company considers its assumptions to be reasonable as of the date hereof, forward -looking stateme nts 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 the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the
adequacy or accuracy of this release.
Table 1: Eskay Creek Project Phase 2 Drilling Campaign; Length-Weighted Drill Hole Gold and
Silver Composites:
Hole-ID From (m) To (m) Core Length (m) Au (g/t) Ag (g/t) AuEq (g/t) Zone
SK-21-645 33.07 45.10 12.03 2.29 68 3.20 HW
Including 38.85 39.35 0.50 21.30 1200 37.30 HW
SK-21-646 26.25 39.12 12.87 2.32 229 5.37 HW
Including 37.80 38.30 0.50 9.15 5120 77.42 HW
SK-21-648 19.63 26.00 6.37 0.95 12 1.11 HW
SK-21-648 28.32 39.67 11.35 3.43 138 5.26 HW
Including 38.00 39.67 1.67 3.64 484 10.09 HW
SK-21-648 41.77 53.00 11.23 1.24 39 1.76 HW
SK-21-677 77.50 94.00 16.50 1.15 16 1.35 21C
SK-21-677 96.33 130.26 33.93 3.35 9 3.47 21C
Including 117.50 118.50 1.00 32.20 18 32.44 21C
and 118.50 119.32 0.82 36.50 19 36.75 21C
SK-21-677 132.70 147.00 14.30 1.98 8 2.09 21C
SK-21-678 103.85 123.00 19.15 7.10 406 12.51 21C
Including 103.85 104.50 0.65 35.50 5810 112.97 21C
and 105.50 106.50 1.00 30.10 180 32.50 21C
and 106.50 107.00 0.50 20.50 1690 43.03 21C
Hole-ID From (m) To (m) Core Length (m) Au (g/t) Ag (g/t) AuEq (g/t) Zone
and 107.00 108.00 1.00 24.50 2040 51.70 21C
and 108.00 108.50 0.50 16.10 423 21.74 21C
and 108.50 109.10 0.60 11.80 585 19.60 21C
SK-21-678 126.00 144.40 18.40 2.87 7 2.97 21C
Including 132.00 133.00 1.00 11.20 <5 11.20 21C
SK-21-679 73.00 82.00 9.00 0.64 18 0.88 21C
SK-21-679 86.50 91.00 4.50 2.16 19 2.42 21C
SK-21-679 98.00 147.00 49.00 2.82 57 3.58 21C
Including 100.45 101.40 0.95 6.61 1470 26.21 21C
and 120.92 121.42 0.50 11.15 18 11.39 21C
SK-21-701 ABANDONED 21C
SK-21-702 201.70 228.50 26.80 5.45 12 5.61 21C
Including 201.70 203.09 1.39 52.40 6 52.48 21C
and 203.09 204.00 0.91 12.95 <5 12.95 21C
and 204.74 205.65 0.91 18.15 7 18.24 21C
SK-21-715 34.45 47.00 12.55 1.81 52 2.50 HW
Including 44.47 45.00 0.53 11.35 176 13.70 HW
SK-21-733 9.00 22.80 13.80 4.98 31 5.39 HW
Including 17.00 19.80 2.80 11.95 48 12.59 HW
SK-21-733 28.00 32.33 4.33 1.37 9 1.49 HW
SK-21-733 37.27 44.00 6.73 1.70 7 1.79 HW
SK-21-733 49.10 53.00 3.90 0.73 8 0.83 HW
SK-21-734 13.44 19.20 5.76 2.26 100 3.60 HW
SK-21-734 21.67 31.55 9.88 2.36 31 2.78 HW
SK-21-734 38.84 42.27 3.43 1.03 13 1.20 HW
SK-21-789 56.27 90.00 33.73 1.95 34 2.40 21E
SK-21-790 57.00 73.00 16.00 4.04 50 4.70 21E
Including 68.00 69.00 1.00 22.10 43 22.67 21E
and 69.00 69.60 0.60 11.50 137 13.33 21E
and 69.60 70.20 0.60 21.60 404 26.99 21E
SK-21-790 77.50 93.00 15.50 1.86 160 3.99 21E
Including 80.07 81.07 1.00 8.82 281 12.57 21E
and 81.07 82.20 1.13 7.98 408 13.42 21E
SK-21-791 72.00 80.23 8.23 3.65 23 3.96 21E
Including 76.43 77.00 0.57 11.20 43 11.77 21E
and 77.00 77.87 0.87 10.50 44 11.09 21E
SK-21-791 85.05 99.50 14.45 3.55 30 3.94 21E
SK-21-791 105.50 115.00 9.50 3.65 105 5.05 21E
Including 113.46 114.00 0.54 14.60 796 25.21 21E
SK-21-792 97.60 112.50 14.90 2.31 23 2.61 21E
SK-21-794 72.90 75.08 2.18 0.49 39 1.01 21E
SK-21-794 89.50 105.45 15.95 2.16 23 2.46 21E
Including 102.69 104.00 1.31 9.31 55 10.04 21E
SK-21-794 113.00 115.00 2.00 0.90 5 0.96 21E
SK-21-795 94.00 116.70 22.70 1.91 32 2.34 21E
SK-21-795 119.50 125.00 5.50 1.46 8 1.56 21E
SK-21-796 98.50 103.00 4.50 1.39 15 1.59 21E
SK-21-796 110.50 134.00 23.50 1.19 94 2.44 21E
Including 131.00 132.26 1.26 2.13 1335 19.93 21E
SK-21-797 29.95 33.08 3.13 2.45 8 2.56 21B
SK-21-798 28.38 38.30 9.92 0.78 29 1.17 21B
Hole-ID From (m) To (m) Core Length (m) Au (g/t) Ag (g/t) AuEq (g/t) Zone
SK-21-799 41.45 65.00 23.55 1.60 115 3.13 21B
Including 46.96 48.57 1.61 6.20 954 18.92 21B
SK-21-800 56.18 68.20 12.02 2.74 184 5.19 21B
Including 64.00 66.67 2.67 6.71 696 15.99 21B
SK-21-800 70.30 75.00 4.70 0.53 28 0.90 21B
SK-21-801 27.45 40.00 12.55 0.92 12 1.08 21B
SK-21-801 44.00 47.00 3.00 1.06 5 1.13 21B
SK-21-802 1.37 3.86 2.49 0.55 14 0.74 HW
SK-21-802 7.54 21.15 13.61 3.10 112 4.59 HW
Including 11.78 12.74 0.96 8.35 340 12.88 HW
and 17.00 18.35 1.35 10.20 183 12.64 HW
and 18.35 19.11 0.76 3.63 733 13.40 HW
SK-21-802 26.00 32.00 6.00 1.03 10 1.17 HW
SK-21-803 5.20 12.77 7.57 2.14 27 2.50 HW
SK-21-803 14.90 25.22 10.32 2.09 25 2.42 HW
Including 21.13 21.70 0.57 10.50 87 11.66 HW
SK-21-803 28.83 37.94 9.11 0.90 9 1.02 HW
SK-21-803 43.00 45.14 2.14 1.26 6 1.34 HW
SK-21-804 3.51 13.80 10.29 2.10 15 2.30 HW
SK-21-804 16.30 18.75 2.45 0.82 15 1.02 HW
SK-21-804 29.00 32.00 3.00 0.75 19 1.00 HW
SK-21-804 35.00 44.00 9.00 0.98 12 1.14 HW
SK-21-804 53.00 55.00 2.00 1.21 5 1.28 HW
SK-21-805 8.70 20.00 11.30 0.95 15 1.14 HW
SK-21-805 25.20 28.40 3.20 0.61 26 0.95 HW
SK-21-805 33.60 43.25 9.65 0.92 8 1.03 HW
SK-21-805 45.60 62.00 16.40 6.06 11 6.21 HW
Including 52.00 55.00 3.00 10.05 11 10.20 HW
SK-21-806 41.81 74.00 32.19 3.20 11 3.34 HW
Including 72.00 74.00 2.00 28.40 71 29.35 HW
SK-21-815 163.00 204.92 41.92 3.99 14 4.17 21C
Including 168.00 169.50 1.50 10.40 58 11.17 21C
and 170.50 171.69 1.19 12.15 14 12.34 21C
and 182.00 183.36 1.36 11.05 126 12.73 21C
SK-21-816 196.00 224.00 28.00 3.97 13 4.15 21C
Including 197.21 198.00 0.79 43.90 5 43.97 21C
and 200.20 201.00 0.80 13.75 6 13.83 21C
SK-21-816 227.00 236.00 9.00 1.65 18 1.89 21C
Gold Equivalent (AuEq) calculated via the formula: Au (g/t) + [Ag (g/t) / 75]. True widths range from 70-100% of reported core lengths. Length weighted
AuEq composites are constrained by geological considerations. Grade -capping of individual assays has not been applied to the Au and Ag assays
informing the length-weighted AuEq composites. Metallurgical processing recoveries have not been applied to the AuEq calculation and are taken at
100%. Samples below detection limit were nulled to a value of zero. NSA – No Significant Assays.
Table 2: Mine Grid Drill Hole Locations and Orientations:
Hole-ID Easting (m) Northing (m) Elevation (m) Length (m) Azimuth (°) Dip (°)
SK-21-645 9937.5 10746.6 908.7 53.0 146.1 -65.0
SK-21-646 9955.1 10760.4 899.7 50.0 355.1 -83.0
SK-21-648 9950.9 10760.9 899.4 55.0 335.3 -74.0
SK-21-677 9812.6 10875.2 845.6 147.0 235.4 -82.7
SK-21-678 9812.3 10875.3 845.5 148.0 235.5 -73.2
SK-21-679 9812.3 10875.1 845.3 150.0 235.1 -77.2
Hole-ID Easting (m) Northing (m) Elevation (m) Length (m) Azimuth (°) Dip (°)
SK-21-701 9677.1 10720.5 859.3 89.0 112.1 -65.9
SK-21-702 9652.7 10660.7 868.3 265.0 67.4 -66.0
SK-21-715 9955.2 10729.9 910.5 55.0 345.0 -79.0
SK-21-733 9926.2 10850.0 873.2 61.0 175.0 -78.1
SK-21-734 9926.2 10850.2 873.8 53.0 224.9 -64.0
SK-21-789 10042.5 10665.9 928.1 100.0 260.1 -60.0
SK-21-790 10042.8 10666.1 928.3 93.0 285.0 -74.2
SK-21-791 10082.9 10623.3 930.8 115.0 269.8 -73.0
SK-21-792 10083.0 10623.4 931.6 120.0 270.2 -79.1
SK-21-794 10097.0 10633.0 927.0 115.0 270.3 -61.0
SK-21-795 10098.5 10634.7 926.4 125.0 270.2 -69.9
SK-21-796 10098.7 10634.2 926.1 189.0 270.1 -76.0
SK-21-797 9893.4 10846.7 856.4 45.0 186.1 -89.3
SK-21-798 9874.2 10856.8 852.0 60.0 62.9 -89.1
SK-21-799 9880.1 10856.8 853.1 65.0 180.2 -71.9
SK-21-800 9879.6 10857.2 853.1 75.0 208.8 -67.1
SK-21-801 9874.1 10857.1 851.8 65.0 345.5 -75.0
SK-21-802 9918.6 10868.0 866.5 47.0 335.2 -81.9
SK-21-803 9918.5 10865.3 865.0 55.0 170.9 -75.1
SK-21-804 9910.2 10886.9 868.9 55.0 13.6 -80.9
SK-21-805 9911.2 10886.7 869.2 62.0 65.0 -75.0
SK-21-806 9936.1 10906.1 880.3 74.0 250.0 -72.9
SK-21-815 9677.2 10720.7 859.7 230.0 112.0 -66.1
SK-21-816 9672.9 10684.1 864.9 261.0 89.9 -74.1