Mr. Mac Balkam reports
ESKAY MINING ENCOUNTERS BROAD INTERCEPTS OF PRECIOUS METAL RICH STOCKWORK FEEDER MINERALIZATION AT TV INCLUDING 47.8M GRADING 5.2 GPT AU EQ WITHIN 140.3M GRADING 2.6 GPT AU EQ AND 44.4M GRADING 4.7 GPT AU EQ WITHIN 92.3M GRADING 2.7 GPT AU EQ
Eskay Mining Corp. has released the first assay results from its 2021 diamond drill campaign at its 100-per-cent-controlled Consolidated Eskay precious-metal-rich volcanogenic massive sulphide (VMS) project in British Columbia.
Drill highlights:
26.0 metres grading 1.9 grams per tonne gold and 367.7 g/t silver (6.8 g/t AuEq) within 47.77 m grading 1.3 g/t Au and 287.4 g/t Ag (5.2 g/t AuEq) within 140.28 m grading 0.9 g/t Au and 123.2 g/t Ag (2.6 g/t AuEq) in hole TV21-63;24.09 m grading 2.2 g/t Au and 374.0 g/t Ag (7.2 g/t AuEq) within 44.41 m grading 1.5 g/t Au and 236.0 g/t Ag (4.7 g/t AuEq) within 92.3 m grading 1.1 g/t Au and 124.0 g/t Ag (2.7 g/t AuEq) in hole TV21-54;14.17 m grading 3.3 g/t Au and 37.2 g/t Ag (3.8 g/t AuEq) within 30.41 m grading 2.1 g/t Au and 25.9 g/t Ag (4.7 g/t AuEq) in hole TV21-47;8.70 m grading 3.4 g/t Au and 115.4 g/t Ag (5.0 g/t AuEq) in hole TV21-52;Eskay Mining's 2021 drill program picked up where diamond drill results from its 2020 program at the TV deposit, located approximately 13 kilometres south of Skeena's Eskay Creek mine, left off. These five holes (results presented in the associated table), suggest the presence of an extensive VMS feeder zone at TV. Mineralization remains open along strike to the north and south and downdip to the east;Notably, these results are exclusively from stockwork feeder mineralization and do not include intercepts through the upper and lower massive sulphide horizons discussed in a company news release dated Oct. 13, 2021. As discussed in that release, Eskay Mining believes the TV deposit comprises a stacked VMS system, and therefore these intercepts are interpreted to be from the stockwork feeder system that fed the upper massive sulphide deposit discovered in drilling late in the season. Assays from massive sulphide mineralization are awaited;Drill holes TV21-47, TV21-48, TV21-52 and TV21-54 all intercept stratigraphy approximately perpendicular to bedding, so downhole thicknesses are approximately true. Hole TV21-63 drilled obliquely along strike of the stringer zone and successfully demonstrates continuity of Au and Ag grades in an area of older wide-spaced drilling;Rock hosting stockwork mineralization is dominantly dacite breccia overlaid by carbonaceous mudstone. Both lithologies are intensely silicified, consistent with a subsea floor position proximal to an overlying volcanogenic massive sulphide body that formed on the sea floor;Eskay Mining completed approximately 23,500 m of diamond drilling in 98 holes at its Consolidated Eskay precious-metal-rich VMS project in 2021. Assay turnaround is expected to continue to be slow due to a very active drill season in the region as well as shortages of personnel at the laboratory. Further assays will be released as they become available.
"We are thrilled with recent diamond drill results from the stockwork zone at the TV deposit," commented Dr. Quinton Hennigh, technical adviser and director of Eskay Mining. "These first five holes indicate there is a large stockwork feeder under the upper massive sulphide deposit discovered in drilling late in the season. The 92.3 m intercept grading 2.7 g/t AuEq in hole TV21-54 is thought to represent the true thickness of this large system, open along strike and downdip. We will be anxious to see return of further assays from the TV stockwork, the upper and lower massive sulphide horizons, as well as the other VMS systems drilled by Eskay this season. These results are a great start."
"The TV deposit is showing all the signs of a textbook VMS system," commented Dr. John DeDecker, Eskay Mining's vice-president of exploration. "Identifying the VMS feeder zone above the lower massive sulphide zone indicated our stacked VMS deposit concept was on the right track. Through close examination of the stratigraphy and hydrothermal alteration in the feeder zone, our team was able to predict the location of the upper massive sulphide zone before it was drilled. It is encouraging that assays for the stockwork mineralization show robust continuity of Au and Ag grades. I look forward to results from both massive sulphide horizons."
ASSAYS FROM FIVE DIAMOND DRILL HOLES AT TVHole From To Length Au Ag AuEq AgEq(m)(m)(m)(g/t)(g/t)(g/t)(g/t)TV21-47 33.1063.5130.412.1 25.92.4180.6including 35.3049.4714.173.3 37.23.8280.7including 35.3038.40 3.104.4 23.24.7349.5and including 45.1549.47 4.323.8 43.44.4326.8TV21-48 65.1571.78 6.631.1 53.61.9138.0TV21-52 65.2573.95 8.703.4115.45.0366.7TV21-54211.42 303.7192.291.1124.02.7203.2including259.30 303.7144.411.5236.04.7346.3including279.00 303.0924.092.2374.07.2536.1TV21-633.72 144.00 140.280.9123.22.6193.1including3.7251.4947.771.3287.45.2386.0including 11.0037.0026.001.9367.76.8506.9and including 43.0047.50 4.500.7429.66.5482.1Mineralization at the TV deposit displays similar characteristics and mineralogy to the Eskay Creek deposit and therefore for AuEq, and Au:Ag, a ratio of 74:1 is used based on assumed gold recovery (84.2 per cent) and silver recovery (87.3 per cent) as reported in the Eskay Creek project National Instrument 43-101 technical report and prefeasibility study, British Columbia, Canada, effective date: July 22, 2021, prepared for: Skeena Resources Ltd., prepared by: Absence Engineering Canada Inc.
QA/QC (quality assurance/quality control), methodology statement
Halved HQ drill core samples are submitted to ALS in Terrace, B.C., for preparation and analysis. ALS is accredited to the ISO/IEC (International Organization for Standardization and the International Electrotechnical Commission) 17025 standard for gold assays. All analytical methods include quality control standards inserted at set frequencies. The entire sample interval is crushed and homogenized, 250 g of the homogenized sample is pulped. All samples were analyzed for gold, silver, mercury and a suite of 48 major and trace elements. Analysis for gold is by fire assay fusion followed by inductively coupled plasma atomic emission spectroscopy (ICP-AES) on 30 g of pulp. Analysis for silver is by fire assay and gravimetric analysis on 30 g of pulp. Mercury is analyzed using the trace mercury inductively coupled plasma mass spectroscopy (ICP-MS) method. All other major and trace elements are analyzed by four-acid digestion followed by ICP-MS.
Dr. Quinton Hennigh, PGeo, a director of the company and its technical adviser, a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical contents of this news release.
About Eskay Mining Corp.
Eskay Mining is a TSX Venture Exchange listed company, headquartered in Toronto, Ont. Eskay is an exploration company focused on the exploration and development of precious and base metals along the Eskay rift in a highly prolific region of northwestern British Columbia known as the Golden Triangle, approximately 70 km northwest of Stewart, B.C. The company currently holds mineral tenures in this area comprising 177 claims (130,000 acres).
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