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Skeena Resources Ltd (3)
Symbol SKE
Shares Issued 123,391,872
Close 2020-01-08 C$ 0.79
Recent Sedar Documents

Skeena drills 5.1 m of 16.64 g/t Au at Snip

2020-01-09 08:35 ET - News Release

Mr. Walt Coles Jr. reports

SKEENA INTERSECTS 16.64 G/T AU OVER 5.10 M IN 200 FOOTWALL AT SNIP

Skeena Resources Ltd. has provided the remaining analytical results from the 2019 phase I surface exploration drilling program at the 100-per-cent-owned Snip gold project located in the Golden Triangle of British Columbia. The 2019 exploration program consisted of 10 surface drill holes totalling 1,934 m which tested the 200 Footwall Corridor.

2019 phase I Snip project drilling highlights

  • 16.64 grams per tonne Au over 5.10 metres (S19-035);
    • Including: 96.20 g/t Au over 0.50 m;
    • 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 informing 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 subintervals 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 ounces per ton) 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.

About Skeena Resources Ltd.

Skeena Resources 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 Eskay Creek mine. In addition, the company has completed a preliminary economic assessment on the GJ copper-gold porphyry project.

Qualified persons

Exploration activities at the Eskay Creek project are administered on site by the company's exploration managers, Colin Russell, PGeo, and Adrian Newton, PGeo. In accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects, Paul Geddes, PGeo, vice-resident 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 quality assurance/quality control program was designed and approved by Lynda Bloom, PGeo, of Analytical Solutions Ltd., and is overseen by the company's qualified person, Paul Geddes, PGeo, vice-president of exploration and resource development.

Drill core samples are submitted to ALS Geochemistry's analytical facility in North Vancouver, B.C., 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 one kilogram is pulverized. Analysis for gold is by 50 g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.01 part per million and upper limit of 100 ppm. Samples with gold assays greater than 100 ppm are reanalyzed 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 five ppm and upper limit of 10,000 ppm. Samples with silver assays greater than 10,000 ppm are reanalyzed using a gravimetric silver concentrate method. A selected number of samples are also analyzed using a 48-multielemental geochemical package by a four-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 sulphur reporting greater than 10 per cent from the multielement analysis are reanalyzed for total sulphur by Leco furnace and infrared spectroscopy.

          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 informing the length-weighted composites. 
Samples below detection limit were nulled to a value of zero.

We seek Safe Harbor.

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