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INTERSECTS 10.09 G/T AUEQ OVER 45 METRES AT ESKAY CREEK

 

Gold drill core

Skeena Resources Ltd. (SKE.V) has provided additional gold-silver assays for six holes from the continuing phase I surface drilling program at the Eskay Creek project located in the Golden Triangle of British Columbia. The multifaceted Phase I program is being performed in the historically drill defined 21A, 21C and 22 Zones. Reference images are presented at the end of this release as well as on the Company's website.

Eskay Creek Phase I Drilling - Recent Highlights: 9.07 g/t Au, 76 g/t Ag, 10.09 g/t AuEq over 45.00 m (SK-18-012) Including: 13.06 g/t Au, 84 g/t Ag, 14.18 g/t AuEq over 27.77 m 5.39 g/t Au, 139 g/t Ag, 7.24 g/t AuEq over 28.30 m (SK-18-014) Including: 8.23 g/t Au, 185 g/t Ag, 10.69 g/t AuEq over 12.45 m 4.16 g/t Au, 204 g/t Ag, 6.88 g/t AuEq over 43.50 m (SK-18-017) Including: 3.53 g/t Au, 502 g/t Ag, 10.23 g/t AuEq over 15.00 m

Gold Equivalent (AuEq) calculated via the formula: Au (g/t) + [Ag (g/t) / 75]. Reported core lengths represent 80-100% of true widths and are supported by well-defined mineralization geometries derived from historical drilling. Length weighted AuEq composites were constrained by geological considerations as well as a calculated 1.0 g/t AuEq assay grade cutoff assuming reasonable prospects for economic extraction via open pit mining methods. Grade capping of individual assays has not been applied to the Au and Ag assays informing the length weighted AuEq composites. Processing recoveries have not been applied to the AuEq calculation and are disclosed at 100% due to a lack of supporting information. Samples below detection limit were nulled to a value of zero.

 

Phase I Drilling Discussion

The Phase I drilling program at Eskay Creek continues to demonstrate the excellent grade and geological continuity of the 21A Zone. The program is designed to infill and upgrade areas of the 21A Zone with low drill density to sufficient drill spacing to allow for future economic analyses and also to collect fresh material for an upcoming metallurgical testing program.

Mineralization intersected on section 10,000N (see images below) is largely hosted in the footwall rhyolites with minor mineralization hosted in the contact mudstone as illustrated by an intercept of 9.07 g/t Au, 76 g/t Ag, 10.09 g/t AuEq over 45 m (drill hole SK-18-012) including a higher-grade interval grading 13.06 g/t Au, 84 g/t Ag, 14.18 g/t AuEq over 27.77 m. On the same section drilling intersected 5.39 g/t Au, 139 g/t Ag, 7.24 g/t AuEq over 28.3 m including 8.23 g/t Au, 185 g/t Ag, 10.69 g/t AuEq over 12.45 m (drill hole SK-18-014) located 45 m down-dip of SK-18-012. On section 9960N drilling intercepted 4.16 g/t Au, 204 g/t Ag, 6.88 g/t AuEq over 43.5 m hosted entirely within the footwall rhyolite facies (drill hole SK-18-017).