Skeena Intersects 21.77 g/t Gold over 7.20 Metres at Snip Eastern Extension of Twin Zone Also Yields 50.21 g/t Gold over 2.00 Metres
Skeena Intersects 21.77 g/t Gold over 7.20 Metres at Snip
Eastern Extension of Twin Zone Also Yields 50.21 g/t Gold over 2.00 Metres
Vancouver, BC ( January 8, 2018 ) Skeena Resources Limited (TSX.V: SKE) (“Skeena” or the
“Company”) is pleased to announce additional drill results from 11 holes at the Company’s Snip
gold project (“Snip”) located in the Golden Triangle of British Columbia. The 2017 underground drill
program finished on December 16, 2017 with a total of 8,650 metres drilled over 62 holes. Assays
are still pending for 34 holes.
Cross sections and drill hole data are available on the Company’s website. A detailed table of
length-weighted gold composites is presented at the end of this news release.
High Grades Intersected at Twin Zone East
Targeting the eastern extension of the Twin Zone on Section 4860E, drill hole UG17 -040
intersected 50.21 g/t Au over 2.0 0 metres while 40 metres up dip, drill hole UG17 -030
intersected 12.84 g/t Au over 2.90 metres . On the same section 110 metres further up dip, drill
hole UG17 -039 intersected two additional intersections grading 20.17 g/t Au over 2.40
metres and 14.40 g/t Au over 1.55 metres . During historical production at the Snip mine, the Twin
Zone comprised the bulk of the produced ounces and ranged in width from 0.5 to 15.0 metres.
Supplementary results on section 4860E include drill hole UG17-030 which intersected 21.77 g/t Au
over 7.2 metres , including 133.00 g/t Au over 1.00 metres . This newly discovered mineralization
may indicate a new shear zone located between the Twin Zone and 150 Vein that warrants follow -
up.
412 Zone Drilling
Section 4930E was drilled with four fanned drill holes to confirm the his torical drilling in the newly
defined 412 Zone. Highlights include drill hole UG17-018 which intersected 22.01 g/t Au over 1.90
metres as well as 7.99 g/t Au over 3.00 metres . Located 80 metres down dip of UG17 -018, drill
hole UG17-020 intersected 132.00 g/t Au over 0.50 metres . The 412 Zone appears to be a series
of parallel, high-grade shears located in the footwall, below the Twin Zone and 150 Veins in an area
without previous mining.
Skeena’s CEO, Walter Coles Jr. commented, “We are delighted by the drill results to date from Snip
as we continue to see grades and widths that are consistent with historical results. The most recent
drill assays from the 412 Zone are particularly exciting as this area was never mined and we ’ve
been able to expand the mineralized zone. Once all results from the 2017 underground drill program
have been received we will announce detailed plans for further underground drilling and surface
drilling in 2018.”
Additional assay results are expected short ly. A Phase 2 underground drill program is expected to
commence in February with surface drilling planned for summer 2018.
NR: 18-1
January 8, 2018
Quality Assurance and Quality Control
A rigorous chain -of-custody and quality assurance/quality control program, consisting of the
insertion of certified standard control samples, duplicates and blanks, was applied to the NQ 2-
diameter, sawn half-core samples. Sample preparation and analyses for 2017 samples were
completed at Activation Labs in Kamloops, B.C. Gold is determined by 50 -gram fire assay followed
by an atomic absorption finish, or by gravimetric finish for sampl es over 10 g/t. Silver and other
elements are determined by an ICP analysis following aqua regia digestion. Samples with over 100
g/t silver, 0.5% lead or 1% zinc are re-analyzed by a 4-acid digestion followed by ICP-OES.
Qualified Persons
The scientifi c and technical information contained in this news release has been reviewed and
approved by Skeena’s Chief Geologist , Ron Nichols , P. Eng., a Qualified Person as defined by
National Instrument 43-101.
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 and Eskay Creek mi nes, 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 Spectrum-GJ copper-gold porphyry project.
On behalf of the Board of Directors of Skeena Resources Limited,
Walter 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 Unite d States securities legislation . These statements and information
are based on facts currently available to the Company and there is no assura nce 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 es timation, timing and amount of future exploration and
development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental r isks, title
disputes and other matters. While the Company considers its assum ptions 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 thos e 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.
Snip 2017 Underground Drill Hole Assays
SECTION HOLE # FROM TO LENGTH (M) AU g/t TARGET
4460E-300 UG17-022 85.00 85.55 0.55 1.56 150 Vein
4460E-300 UG17-023 Assays Pending 150 Vein
4460E-300 UG17-024 96.10 96.60 0.50 4.48 150 Vein
4460E-300 UG17-025 77.72 79.25 1.53 3.42 150 Vein
4860E-500 UG17-030 47.80 55.00 7.20 21.77
incl. 47.80 48.30 0.50 13.60
and 51.00 52.00 1.00 133.00
107.50 108.0 0.50 72.50 Twin Zone
120.20 123.10 2.90 12.84 Twin Zone
incl. 120.20 121.20 1.00 32.80
4860E-500 UG17-031 28.00 29.35 1.35 4.16 150 Vein
103.70 105.65 1.95 6.35 Twin Zone
4860E-500 UG17-039 4.00 5.25 1.25 4.83 150 Vein
32.10 33.10 1.00 5.69
54.65 55.2 0.55 8.30
82.50 83.00 0.50 7.49
88.10 90.50 2.40 20.17 Twin Zone
incl. 88.10 88.60 0.50 88.40
95.40 95.90 0.50 5.38
112.25 113.8 1.55 14.40 Twin Zone
4860E-500 UG17-040 18.20 23.50 5.30 4.52 150 Vein
incl. 18.20 18.70 0.50 17.00
119.00 122.90 3.90 5.35
incl. 121.95 122.9 0.95 12.30
157.50 159.50 2.00 50.21 Twin Zone
SECTION HOLE # FROM TO LENGTH (M) AU g/t TARGET
incl. 157.50 158.15 0.65 140.00
4930E-412 UG17-018 63.00 64.90 1.90 22.01 412 Zone
incl. 63.00 63.90 0.90 43.30
100.00 100.80 0.80 27.20
106.50 109.50 3.00 7.99
incl. 108.00 109.50 1.50 10.60
117.50 118.00 0.50 7.23
4930E-412 UG17-019 7.35 7.85 0.50 5.09 412 Zone
50.00 51.00 1.00 6.10
69.00 69.50 0.50 7.24
4930E-412 UG17-020 6.00 7.50 1.50 4.47 412 Zone
63.50 64.00 0.50 132.00
4930E-412 UG17-021 41.60 49.90 8.30 4.88 412 Zone
incl. 42.65 43.15 0.50 12.80
incl. 49.40 49.90 0.50 37.60
74.50 75.60 1.10 5.70
Notes: All values are un-cut. Drill intercepts are core length as there is insufficient data available
to present true widths.