Skeena Intersects 155.76 g/t Au over 3.22 metres at Snip Gold Project
Skeena Intersects 155.76 g/t Au over 3.22 metres at Snip Gold Project
Vancouver, BC ( May 20, 2021) Skeena Resources Limited (TSX: SKE, OTCQX: SKREF)
(“Skeena” or the “Company”) is pleased to report diamond drill core results from the 2021 Phase 3
infill and exploration drilling program at the Snip gold project (“Snip” or the “Project”) located in the
Golden Triangle of British Columbia. The Phase 3 program is designed to upgrade areas of existing
Inferred resources from the Company’s 2020 Mineral Resource Estimate (MRE), to the Measured and
Indicated categories. Reference images are presented at the end of this release as well as on the
Company’s website.
Snip 2021 Phase 3 Drilling Highlights:
• 155.76 g/t Au over 3.22 m (S21-076)
• 140.50 g/t Au over 0.50 m (S21-078)
• 8.40 g/t Au over 3.00 m (S21-080)
• 61.30 g/t Au over 0.50 m (S21-083)
True widths range from 60-90% of reported core lengths. Length weighted Au composites are constrained by geological considerations. Grade -
capping of individual assays has not been applied to the Au assays informing the length -weighted Au composites. Samples below detection
limit were nulled to a value of zero.
New High-Grade Mineralization Intersected Below Twin Zone
Situated in the footwall sediments below the Twin Zone, occurrences of high tenor, vein -hosted
mineralization have been in tersected grading 155.76 g/t Au over 3.22 m including 376.00 g/t Au
over 0.89 m and 194.00 g/t Au over 0.83 m (S21-076), and 140.50 g/t Au over 0.50 m (S21-078).
These surface-based drill holes were targeting Inferred resources hosted by footwall veins that were
previously only populated by widely spaced, selectively sampled historical drill holes in this area of the
deposit. The new high-grade mineralization, defined by S21 -076, occurs hanging-wall to the known
footwall veins.
Additional footwall vein -hosted mineralization was also encountered by surface drill hole S21 -080
which intersected 8.40 g/t Au over 3.00 m including 12.20 g/ t Au over 1.50 m . This drill hole
intersection occurs 100 m northwest S21-076 and correlates spatially with the modelled resources.
2021 Phase 3 Program Description
The 2021 drilling program at Snip is designed to convert Inferred resources from the Company’s 2020
MRE to higher confidence categories (Measured and Indicated) through surface and underground
drilling. Dedicated geotechnical drilling is also being completed at the Project. Approximately 3,100 m
of surface-based drilling and 8,000 m of underground drilling remain to be completed in 2021. The
Company is currently operating two underground rigs at Snip and additional surface rigs will be added
once permits are received.
NR: 21-21 | May 20, 2021
About Skeena
Skeena Resources Limited is a Canadian mining exploration company focused on revitalizing the past-
producing Eskay Creek gold -silver mine l ocated 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 Q1 2022. 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 Snip Project are administered on site by the Company’s Exploration
Managers, Raegan Markel, P.Geo. and John Tyler. In accordance with National Instrument 43 -101
Standards of Disclosure for Mineral Projects, Paul Geddes, P.Geo. Vice President Explorat ion 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 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 matt ers. 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 the Toronto Stock 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 2021 Length-Weighted Drill Hole Gold Composites:
Hole-ID From (m) To (m) Core Length (m) Au (g/t)
S21-059 ABANDONED
S21-060 93.19 93.96 0.77 3.15
S21-062 79.21 79.70 0.49 3.68
S21-063 68.93 70.00 1.07 3.55
S21-063 124.75 125.27 0.52 5.46
S21-066 11.40 13.75 2.35 4.42
S21-067 14.00 15.36 1.36 4.59
S21-068 9.57 10.19 0.62 9.86
S21-068 11.50 12.55 1.05 7.32
S21-071 ABANDONED
S21-072 ASSAYS PENDING
S21-073 65.50 66.99 1.49 2.09
S21-073 89.28 89.84 0.56 3.05
S21-074 77.50 78.45 0.95 4.06
S21-075 76.50 78.00 1.50 2.95
S21-075 83.25 84.45 1.20 3.62
S21-075 105.95 106.65 0.70 5.53
S21-075 111.00 112.00 1.00 13.35
S21-076 86.28 89.50 3.22 155.76
INCLUDING 86.28 87.17 0.89 376.00
AND 87.17 88.00 0.83 194.00
S21-077 ASSAYS PENDING
S21-078 51.56 52.80 1.24 2.97
S21-078 93.15 93.65 0.50 140.50
S21-080 13.00 13.85 0.85 3.27
S21-080 82.00 85.00 3.00 8.40
INCLUDING 83.50 85.00 1.50 12.20
S21-081 52.50 54.00 1.50 3.24
S21-083 37.00 41.00 4.00 2.75
S21-083 43.30 43.80 0.50 61.30
Hole-ID From (m) To (m) Core Length (m) Au (g/t)
S21-083 74.00 79.00 5.00 4.82
S21-084 54.00 55.30 1.30 7.97
INCLUDING 54.72 55.30 0.58 15.05
S21-084 64.25 64.75 0.50 6.16
S21-085 11.00 11.75 0.75 2.09
S21-085 18.05 18.75 0.70 2.62
S21-086 ASSAYS PENDING
S21-087 22.69 24.16 1.47 2.71
S21-087 35.00 36.50 1.50 2.78
S21-087 40.65 41.48 0.83 11.20
S21-055 NSA
S21-056 NSA
S21-057 NSA
S21-058 NSA
S21-061 NSA
S21-064 NSA
S21-065 NSA
S21-069 NSA
S21-070 NSA
S21-079 NSA
S21-082 NSA
True widths range from 60-90% of reported core lengths. Length weighted Au composites are constrained by geological considerations. Grade -
capping of individual assays has not been applied to the Au assays informing the length -weighted Au composites. 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 (°)
S21-055 4272.7 1706.7 293.2 279.6 345.8 -65.1
S21-056 4273.9 1708.0 293.2 243.0 349.1 -53.0
S21-057 4273.6 1707.6 293.2 241.0 0.3 -50.1
S21-058 4273.8 1707.2 293.2 252.6 358.2 -56.1
S21-059 4273.6 1705.7 293.2 33.5 0.1 -65.0
S21-060 4141.1 1834.0 239.4 106.2 359.0 -65.9
S21-061 4053.8 1818.8 190.0 81.1 0.3 -50.1
S21-062 4053.8 1819.3 190.0 88.3 0.4 -68.3
S21-063 4084.6 1847.1 214.7 139.0 328.0 -76.9
S21-064 4085.0 1847.9 214.7 103.0 345.0 -56.9
S21-065 4049.3 1869.1 189.9 41.4 9.2 -51.1
S21-066 4076.7 1890.0 197.6 65.4 1.2 -55.1
S21-067 4067.9 1897.9 198.4 22.6 360.0 -51.2
S21-068 4094.5 1900.6 209.0 28.0 357.0 -51.0
S21-069 4115.4 1906.5 217.2 64.7 10.9 -45.1
S21-070 4272.8 1707.9 293.2 252.0 0.0 -64.8
S21-071 4064.9 1897.4 198.4 10.6 360.0 -51.0
S21-072 4273.8 2057.1 332.4 132.9 353.1 -64.1
S21-073 4275.4 2058.1 332.4 124.8 8.0 -52.2
S21-074 4275.5 2058.0 332.4 133.2 15.0 -60.1
S21-075 4284.8 2066.5 337.6 146.1 33.9 -53.1
S21-076 4304.4 2041.7 330.7 139.8 30.2 -50.1
S21-077 4315.4 2085.2 349.3 99.2 30.2 -56.1
S21-078 4316.5 2083.8 349.3 116.1 30.9 -70.0
S21-079 4360.7 2116.8 371.7 88.5 10.0 -45.0
S21-080 4377.4 2114.1 367.8 110.0 19.0 -58.0
Hole-ID Easting (m) Northing (m) Elevation (m) Length (m) Azimuth (°) Dip (°)
S21-081 4377.7 2113.9 367.8 116.0 30.9 -50.0
S21-082 4378.1 2114.0 367.8 101.7 55.9 -57.1
S21-083 4406.8 2136.9 381.7 92.0 36.0 -59.1
S21-084 4237.1 2116.8 306.4 82.0 25.0 -57.0
S21-085 4208.0 2131.9 277.5 120.5 22.0 -53.1
S21-086 4207.8 2132.7 277.5 43.5 355.0 -47.0
S21-087 4207.1 2130.1 277.5 58.2 347.0 -66.0