Skeena Intersects 36.65 g/t Gold over 2.0 Metres at Snip New Mineralization Discovered in 200 Footwall Corridor
Skeena Intersects 36.65 g/t Gold over 2.0 Metres at Snip
New Mineralization Discovered in 200 Footwall Corridor
Vancouver, BC ( June 14 , 2018 ) Skeena Resources Limited (TSX.V: SKE, OTCQX: SKREF)
(“Skeena” or the “Company”) is pleased to announce additional assays from 11 holes of 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 totalling 11,000 m is being performed from the existing underground
infrastructure utilizing two drill rigs. Building upon the data gathered from the recently completed 2017
Phase I campaign, the 2018 program is designed to further delineate known mineralization with low
drill density and to expand newly modelled zones via widely spaced exploratory step-out drill holes.
Reference mine sections are presented at the end of this release as well as on the Company’s website.
Phase II Drilling Highlights:
• 7.27 g/t Au over 3.0 m (UG18-074)
• 28.25 g/t Au over 1.0 m (UG18-079)
• 10.95 g/t Au over 2.6 m (UG18-079)
• 36.65 g/t Au over 2.0 m (UG18-080)
• 95.00 g/t Au over 0.5 m (UG18-080)
• 7.87 g/t Au over 3.3 m (UG18-080)
• 17.60 g/t Au over 1.5 m (UG18-081)
• 26.20 g/t Au over 1.5 m (UG18-081)
New 200 Footwall Corridor Expands
In an historically unexplored portion of the easternmost footwall mine stratigraphy, Phase II drill hole
UG18-081 successfully intersected the recently modelled 200 Footwall Corridor over a wide interval
grading 5.87 g/t Au over 8.6 m including 26.20 g/t Au over 1.5 m, 9.07 g/t Au over 0.5 m and 9.22
g/t Au over 0.5 m. Spatially, these new intersections correlate with the interpreted strike extension of
the 200 Footwall C orridor and represent an up -plunge expansion 100 m east of historic 199 7
underground drill hole UG -1701 (26.67 g/t Au over 4.4 m). Past drilling prog rams by previous
operators focused on the historically mined Twin Zone and not the exploration potential of the footwall.
As such, these new intersections are open for expansion due to the lack of drilling in this area.
Infill Drilling Continues to Demonstrate Grade Continuity
Delineation drilling of the Eastern Twin Zone and 412 Veining Corridors continues to upgrade
geological and grade confidence of the historical database in preparation for a maiden resource
estimate at Snip. This is demonstrated by drill hole UG18-080 in the 412 Corridor which intersected
36.65 g/t Au over 2.0 m, including 142.00 g/t Au over 0.5 m. Drill hole UG18-080 also intersected
NR: 18-14
June 14, 2018
additional 412 Corridor mineralization grading 95.00 g/t Au over 0.5 m and Eastern Twin Zone
mineralization averaging 7.87 g/t Au over 3.3 m including 45.6 g/t Au over 0.5 m.
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 Economic Ass essment 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 Snip 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 c ontrol materials at set frequencies with
established data acceptance criteria. The entire sample is crushed and 250 grams 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 10 ppm are re-analyzed
using a 1,000 g screen metallic fire assay. 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) finish.
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 i s 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 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 materi ally 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 drill hole gold composites:
HOLE-ID FROM (M) TO (M) CORE LENGTH (M) AU (G/T) AREA
UG18-071 162.95 165.50 2.55 5.34 TWIN EAST
INCLUDING 165.00 165.50 0.50 12.00 TWIN EAST
UG18-073 42.20 42.70 0.50 6.18 412
UG18-073 50.50 52.00 1.50 5.59 412
UG18-074 15.00 15.50 0.50 6.02 412
UG18-074 101.00 104.00 3.00 7.27 TWIN EAST
INCLUDING 101.00 102.50 1.50 10.95 TWIN EAST
UG18-075 25.30 25.80 0.50 7.49 412
UG18-075 61.50 63.00 1.50 8.01 412
UG18-076 83.00 83.50 0.50 38.80 412
UG18-076 105.50 106.10 0.60 8.52 412
UG18-077 ABANDONED
UG18-078 156.00 158.50 2.50 7.38 TWIN EAST
INCLUDING 157.50 158.00 0.50 30.30 TWIN EAST
UG18-079 77.50 78.00 0.50 16.05 412
UG18-079 99.00 99.50 0.50 8.68 412
UG18-079 107.00 107.50 0.50 12.80 412
UG18-079 114.50 115.50 1.00 28.25 412
INCLUDING 114.50 115.00 0.50 54.50 412
UG18-079 141.40 144.00 2.60 10.95 TWIN EAST
INCLUDING 141.40 142.00 0.60 17.75 TWIN EAST
AND 142.00 142.50 0.50 23.70 TWIN EAST
UG18-080 104.80 106.80 2.00 36.65 412
INCLUDING 105.30 105.80 0.50 142.00 412
UG18-080 124.40 124.90 0.50 95.00 TWIN EAST
UG18-080 149.40 152.70 3.30 7.87 TWIN EAST
INCLUDING 150.40 150.90 0.50 45.60 TWIN EAST
UG18-080 211.10 212.10 1.00 9.14 TWIN EAST HW
HOLE-ID FROM (M) TO (M) CORE LENGTH (M) AU (G/T) AREA
UG18-081 0.00 1.50 1.50 17.60 412
UG18-081 113.85 122.45 8.60 5.87 200 FW
INCLUDING 113.85 114.35 0.50 9.07 200 FW
AND 117.50 119.00 1.50 26.20 200 FW
AND 121.95 122.45 0.50 9.22 200 FW
UG18-082 ABANDONED
True widths cannot be accurately determined at this time from the information available therefore core
lengths are reported. Note that top cuts have not been applied to high grade assays.
Table 2: Mine grid Phase II underground drill hole locations and orientations
HOLE-ID EASTING NORTHING ELEVATION LENGTH (M) AZIMUTH DIP
UG18-071 4918.7 2373.1 552.7 260.3 177.1 37.1
UG18-073 4930.0 2191.8 418.1 204.2 5.1 -20.1
UG18-074 4934.1 2185.6 418.3 251.5 165.5 -20.1
UG18-075 4930.2 2191.0 417.3 211.9 15.3 -65.4
UG18-076 4918.7 2372.8 550.9 250.2 178.2 5.0
UG18-077 4908.8 2373.2 550.2 47.6 176.4 -10.7
UG18-078 4910.0 2371.7 550.2 309.4 178.5 -10.7
UG18-079 4909.9 2371.6 550.9 278.9 179.1 9.9
UG18-080 4908.7 2373.1 551.9 277.4 179.1 29.3
UG18-081 4783.8 2193.4 416.4 223.1 350.3 -0.2
UG18-082 4783.7 2193.4 415.6 98.2 349.5 -0.2