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 occurrences 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 averaging 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.
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
