Skeena Intersects 16.64 g/t Au over 5.10 m in 200 Footwall at Snip
Skeena Intersects 16.64 g/t Au over 5.10 m in 200 Footwall at Snip
Vancouver, BC ( January 9 , 2020) Skeena Resources Limited (TSX.V: SKE, OTCQX: SKREF)
(“Skeena” or the “Company”) is pleased to announce the remaining analytical results from the 2019
Phase I surface exploration drilling program at the 100% owned Snip gold project (“Snip”) located in
the Golden Triangle of British Columbia. The 2019 exploration program consisted of 10 surface drill
holes totaling 1,934 m which tested the 200 Footwall Corridor (“200 Footwall”). Reference images are
presented at the end of this release as well as on the Company’s website.
2019 Phase I Snip Project Drilling Highlights:
• 16.64 g/t Au over 5.10 m (S19-035)
o Including: 96.20 g/t Au over 0.50 m
o And 39.80 g/t Au over 0.85 m
• 57.90 g/t Au over 0.65 m (S19-041)
• 57.00 g/t Au over 0.50 m (S19-041)
• 12.00 g/t Au over 1.35 m (S19-043)
Core lengths are reported due to a lack of supporting data to properly calculate true widths. Length weighted composites were constrained by
geological and grade considerations. Grade capping of individual assays has not been applied to the Au assays infor ming the length weighted
composites. Samples below detection limit were nulled to a value of zero.
New Mineralization Intersected in 200 Footwall
Phase I surface drill hole S19-035 has successfully intersected a new zone of high-grade gold
mineralization averaging 16.64 g/t Au over 5.10 m including two sub-intervals grading 96.20 g/t Au
over 0.50 m and 39.80 g/t Au over 0.85 m in the 200 Footwall. This zone is located 100 m vertically
below surface and 370 m east of the recently reported Phase I 200 Footwall discovery intercept which
graded 1,131.91 g/t (36.39 oz/t) Au over 1.50 m (S19-044). The area surrounding the new zone is
open down-dip and down-plunge.
The outstanding analytical results for drill holes S19-043 and S19-044 have been received. The high-
grade intercept in S19-044 occurred at a depth of 249.60 m. Additional results for this drill hole include
12.60 g/t Au over 0.50 m and 7.41 g/t Au over 0.60 m occurring at 242.35 m and 214.80 m respectively.
Phase I drill hole S19-043 was completed prior to the newly discovered mineralization in drill hole
S19-044 and intersected anomalous gold grades associated with sheared veining including 12.00 g/t
Au over 1.35 m. Recently completed modelling of the 200 Footwall mineralization indicates that this
drill hole did not extend deep enough to adequately test the 200 Footwall and will be deepened during
the next phase of drilling at Snip.
NR: 20-01
January 9, 2020
About Skeena
Skeena Resources Limited is a junior C anadian 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 Eskay Creek mine. In addition, the Company has completed a Preliminary
Economic 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 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 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 stan dard
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 1kg 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 100ppm are re -analyzed using a 50g
fire assay fusion with gravimetric finish. Analysis for silver is by 50g fire assay fusion with gravim etric
finish with a lower limit of 5ppm and upper limit of 10,000ppm. Samples with silver assays greater than
10,000ppm are re -analyzed using a gravimetric silver concentrate method. A selected number of
samples are also analyzed using a 48 multi -elemental 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 Pla sma 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”, “e stimates”, “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 2019 Phase I length weighted drill hole gold composites:
HOLE-ID FROM (m) TO (m) CORE LENGTH (m) AU (g/t) AREA
S19-035 128.65 133.75 5.10 16.64 200
INCLUDING 128.65 129.15 0.50 96.20 200
AND 129.15 130.00 0.85 39.80 200
S19-041 80.00 81.50 1.50 5.89 HW
S19-041 83.85 84.50 0.65 57.90 HW
S19-041 94.10 94.60 0.50 57.00 200
S19-041 106.40 106.90 0.50 6.74 200
S19-042 63.32 67.00 3.68 6.72 HW
INCLUDING 65.50 66.00 0.50 15.95 HW
AND 66.00 66.50 0.50 18.45 HW
S19-042 112.00 112.50 0.50 10.85 200
S19-043 167.65 169.00 1.35 12.00 HW
S19-043 177.60 178.10 0.50 4.42 HW
S19-044 214.80 215.40 0.60 7.41 UPPER
S19-044 216.30 217.15 0.85 4.41 UPPER
S19-044 242.35 242.85 0.50 12.60 LOWER
Core lengths are reported due to a lack of supporting data to properly calculate true widths. Length weighted composites were constrained by
geological and grade considerations. Grade capping of individual assays has not been applied to the Au assays infor ming the length weighted
composites. Samples below detection limit were nulled to a value of zero.
Table 2: Mine grid coordinate system Phase I drill hole locations and orientations:
HOLE-ID EASTING (m) NORTHING (m) ELEVATION (m) LENGTH (m) AZIMUTH DIP
S19-035 4517.8 2206.5 454.0 279.0 269.1 -69.9
S19-041 4652.3 2285.5 533.3 177.0 330.0 -50.7
S19-042 4652.0 2285.0 534.4 200.0 321.0 -67.0
S19-043 4217.0 1972.0 272.8 266.0 349.6 -71.6
S19-044 4217.0 1972.0 272.8 257.0 357.9 -48.0