Vancouver, BC (December 8, 2020) Skeena Resources Limited (TSX: SKE, OTCQX: SKREF) (“Skeena” or the “Company”) is pleased to report additional diamond drill core results from the Phase 1 combined campaign of definition and exploration drilling at the Eskay Creek Project (“Eskay Creek” or the “Project”) located in the Golden Triangle of British Columbia. The Phase 2 infill program, focused upon resource category conversions for the Pre-Feasibility Study (“PFS”) on open-pit constrained resources, is on-going with twelve drill rigs currently active. Reference images are presented at the end of this release as well as on the Company’s website.
 
Eskay Creek 22 Zone Phase 1 Infill Drilling Highlights

•   1.73 g/t Au, 155 g/t Ag (3.80 g/t AuEq) over 42.80 m (SK-20-424)
•   3.02 g/t Au, 11 g/t Ag (3.16 g/t AuEq) over 31.50 m (SK-20-444)
•   1.37 g/t Au, 80 g/t Ag (2.44 g/t AuEq) over 48.00 m (SK-20-448)
•   1.53 g/t Au, 68 g/t Ag (2.43 g/t AuEq) over 47.50 m (SK-20-452)
• 20.68 g/t Au, 5 g/t Ag (20.75 g/t AuEq) over 11.78 m (SK-20-456)

Gold Equivalent (AuEq) calculated via the formula: Au (g/t) + [Ag (g/t) / 75]. Apparent widths are reported for the 22 Zone due to the geometry of the mineralization and the orientation of the drill holes. Length weighted AuEq composites are constrained by geological considerations. Grade-capping of individual assays has not been applied to the Au and Ag assays informing the length-weighted AuEq composites. Metallurgical processing recoveries have not been applied to the AuEq calculation and are taken at 100%. Samples below detection limit were nulled to a value of zero.

22 Zone Phase 1 Infill Intersects Predicted Mineralization
The 2020 Phase 1 infill program at Eskay Creek continues to verify the expected grades, thickness and continuity of mineralization modelled in the 22 Zone as demonstrated by 1.73 g/t Au, 155 g/t Ag (3.80 g/t AuEq) over 42.80 m (SK-20-424). This intercept correlates well with two intervals of 3.36 g/t AuEq over 22.50 m and 3.33 g/t AuEq over 59.50 m (SK-20-423) positioned 15 m down-dip.

An additional, near surface zone of high-grade mineralization analogous to the 22 Zone lies 200 m to the northeast. This zone is parallel to the 22 Zone and averaged 20.68 g/t Au, 5 g/t Ag (20.75 g/t AuEq) over 11.78 m (SK-20-456) and 6.18 g/t Au, 5 g/t Ag (6.24 g/t AuEq) over 7.56 m (SK-20-468). This area has potential for expansion with further drilling. 

About Skeena
Skeena Resources Limited is a junior mining company focused on developing 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 at Eskay Creek to advance the project to Prefeasibility. Skeena is also exploring the past-producing Snip gold mine.

On behalf of the Board of Directors of Skeena Resources Limited,

Walter Coles Jr.
President & CEO

Contact Information

Investor Inquiries: info@skeenaresources.com
Office Phone: +1 604 684 8725
Company Website: www.skeenaresources.com