An overview of the Snip Gold Project, owned by Skeena Resources Limited. — Photo courtesy Skeena Resources Limited Skeena Resources Limited (TSX.V:S
An overview of the Snip Gold Project, owned by Skeena Resources Limited. — Photo courtesy Skeena Resources Limited
Skeena Resources Limited (TSX.V:SKE) (“Skeena” or the “Company”) is pleased to announce additional drill results from 13 holes at the Company’s Snip gold project (“Snip”) located in the Golden Triangle of British Columbia.
Drilling Highlights
- UG17-027: 74.35 g/t Au over 2.00 metres
- UG17-033: 77.41 g/t Au over 1.10 metres
- UG17-034: 26.28 g/t Au over 2.03 metres
- UG17-034: 7.48 g/t Au over 6.35 metres
- UG17-035: 19.26 g/t Au over 11.85 metres
- UG17-035: 11.21 g/t Au over 5.95 metres
- UG17-036: 35.49 g/t Au over 4.35 metres
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. Assays are still pending for 21 holes of the 62 underground drill holes completed in 2017.
Underground drill hole UG17-035 on Section 4920E intersected two previously undrilled mineralized sections of the eastern Twin Zone grading 19.26 g/t Au over 11.85 metres followed by a second interval grading 11.21 g/t Au over 5.95 metres. These new intersections are located 60 metres up dip of historic drill hole UG-56 (drilled in 1988), which intersected 14.73 g/t Au over 4.00 metres. On the same section 100 metres up dip of the new occurrences, 2017 drill hole UG17-036 intersected additional mineralization grading 35.49 g/t Au over 4.35 metres. The Twin Zone was further extended on Section 4900E by drill holes UG17-027 and UG17-028 which intersected 74.35 g/t Au over 2.00 metres and 6.77 g/t Au over 7.56 metres respectively.
The 412 Zone, located 150 metres into the footwall of the Twin Zone, continues to show continuity with drill hole UG17-034 on Section 4920E intersecting two mineralized veins averaging 26.28 g/t Au over 2.03 metres and 7.48 g/t Au over 6.35 metres. The downdip continuity of the 412 Zone is demonstrated by previously disclosed 2017 drill holes UG17-021 which intersected 4.88 g/t Au over 8.30 metres including 37.60 g/t Au over 0.50 metres and UG17-020 which intersected 132.00 g/t Au over 0.50 metres. This mineralized corridor remains open for expansion at depth.
The Twin Zone, which accounted for 61% of historical production, is a dilatant shear zone consisting of a number of southwest dipping shear veins. The most productive parts of the shear zone occur when the structures change orientation and become steeper dipping, causing zones of extension that can form thicker zones of mineralization, including parallel zones as seen in the 150 and 130 Veins, which accounted for 24% of historical production. 2017 underground drilling is successfully identifying other dilatant shear zones, caused by changes in attitude of the shears, and specifically zones that are down plunge or in the footwall of the Twin Zone, such as the 412 Zone.
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 samples 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.
The scientific 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.
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 mines, 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
