Skeena Intersects 45.76 g/t Au over 5.60 metres at Snip Gold Project
Skeena Intersects 45.76 g/t Au over 5.60 metres at Snip Gold Project
Vancouver, BC ( April 27 , 2021) Skeena Resources Limited (TSX: SKE, OTCQX: SKREF)
(“Skeena” or the “Company”) is pleased to report diamond drill core results from the 2020-2021
campaign of exploration drilling at the Snip gold project (“Snip” or the “Project”) located in the Golden
Triangle of British Columbia. The exploratory program was focused upon resource expansion and
delineating additional mineralization in previously unexplored areas of the near mine environment.
The surface-based program was comprised of ten drill holes totaling 5,366 metres. Reference images
are presented at the end of this release as well as on the Company’s website.
Snip Drilling Highlights:
• 45.40 g/t Au over 0.50 m (S20-047)
• 45.76 g/t Au over 5.60 m (S20-049)
• 29.52 g/t Au over 4.03 m (S20-049)
• 37.78 g/t Au over 2.86 m (S20-049)
True widths range from 60-85% 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.
Additional Mineralization Established Below Twin Zone
Situated in the footwall sediments below the Twin Zone, two new occu rrences of high -grade, vein-
hosted gold mineralization have been discovered during the 2020-2021 exploration program. Drill hole
S20-049 intersected a previously unidentified zone averaging 29.52 g/t Au over 4.03 m including
65.60 g/t Au over 1.14 m and 31.10 g/t Au over 1.03 m. The second zone occurs 20 m further downhole
averaging 37.78 g/t Au over 2.86 m including 29.60 g/t Au over 1.32 m and 44.80 g/t Au over 1.54 m.
These new intercepts occur in an area devoid of previous drilling and are open for expansion. The
same drill hole also predictably intersected the known Twin Zone mineralization which graded
45.76 g/t Au over 5.60 m including 41.80 g/t Au over 0.90 m and 177.00 g/t Au over 1.16 m.
New Mineralization Discovered Below Current Resources
Exploratory drill hole S21 -054 has intersected two new occurrences of footwall vein mineralization
530 m vertically below surface and 250 m downdip of existing resources av eraging 5.82 g/t Au over
2.00 m and 12.40 g/t Au over 1.20 m. Due to the absence of any previous drilling in this new area, this
discovery opens an entire area for potential resource expansion.
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 Q1 2022. Additionally, Skeena continues exploration programs at the past-
producing Snip gold mine.
NR: 21-17 | April 27, 2021
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 at Snip are administered on site by the Company’s Exploration Managers,
Raegan Markel, P.Geo. and John Tyler , 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 Analytica l 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 c oncentrate 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 matte rs. 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 2020-2021 Drilling Campaign; Length-Weighted Drill Hole Gold
Composites:
Hole-ID From (m) To (m) Core Length (m) Au (g/t)
S20-045 ABANDONED
S20-046 265.90 267.07 1.17 1.04
S20-047 153.50 154.40 0.90 3.52
S20-047 190.70 191.20 0.50 45.40
S20-048 206.50 208.00 1.50 5.10
S20-049 214.74 220.34 5.60 45.76
Including 214.74 215.64 0.90 41.80
and 219.18 220.34 1.16 177.00
S20-049 277.00 281.03 4.03 29.52
Including 277.86 279.00 1.14 65.60
and 280.00 281.03 1.03 31.10
S20-049 299.00 301.86 2.86 37.78
Including 299.00 300.32 1.32 29.60
and 300.32 301.86 1.54 44.80
S20-049 363.00 364.00 1.00 3.27
S20-049 476.06 477.30 1.24 2.06
S20-050 44.35 45.25 0.90 8.03
S20-050 336.00 337.50 1.50 4.56
S20-051 493.15 493.65 0.50 2.31
S20-052 426.25 427.25 1.00 14.65
S20-052 452.25 452.75 0.50 2.89
S20-052 593.50 595.00 1.50 6.46
S20-053 349.00 350.50 1.50 2.36
S20-053 395.00 397.00 2.00 6.18
S20-053 399.00 400.00 1.00 3.55
S20-053 428.85 429.40 0.55 14.10
S20-053 434.05 435.50 1.45 2.09
S20-053 437.00 438.50 1.50 2.49
S20-053 502.28 504.17 1.89 9.99
Including 502.28 503.00 0.72 22.10
S20-053 556.50 557.50 1.00 23.60
S20-053 564.00 565.50 1.50 4.01
S21-054 463.26 465.50 2.24 2.84
S21-054 467.13 467.89 0.76 17.10
S21-054 477.00 479.70 2.70 1.79
S21-054 539.00 540.00 1.00 2.80
S21-054 631.00 633.00 2.00 5.82
S21-054 659.30 660.50 1.20 12.40
True widths range from 60-85% 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.
Table 2: Mine Grid Drill Hole Locations and Orientations:
Hole-ID Easting (m) Northing (m) Elevation (m) Length (m) Azimuth (°) Dip (°)
S20-045 4212.0 1971.8 282.0 36.0 0.0 -75.0
S20-046 4212.0 1971.8 282.0 347.0 0.0 -60.0
S20-047 4212.0 1971.8 282.0 341.0 0.0 -45.0
S20-048 4212.0 1971.8 278.0 398.0 0.0 -75.0
S20-049 4633.4 1880.6 521.0 519.0 0.0 -60.0
S20-050 4633.4 1880.6 521.0 555.0 0.0 -45.0
S20-051 4852.3 1783.2 724.0 852.0 0.0 -70.0
S20-052 4852.3 1783.2 724.0 777.0 0.0 -47.0
S20-053 4852.3 1783.2 724.0 717.0 0.0 -53.0
S21-054 4852.0 1783.0 724.0 824.0 340.0 -65.0