Mr. Walter Coles Jr. reports
SKEENA DRILLING INTERSECTS MORE HIGH-GRADE GOLD AT SNIP
Skeena Resources Ltd. has released analytical results from the first eight holes of the recently initiated phase 2 underground drilling program at the company's 100-per-cent-owned Snip gold project located in the Golden Triangle of British Columbia.
The 2018 phase 2 diamond drill program totalling 11,000 metres is being drilled from existing underground infrastructure utilizing two drill rigs. The 2018 program is building upon the data gathered from the 2017 phase 1 campaign, and is designed to further delineate known mineralization in areas with low-drill density, and to expand newly modelled zones via widely spaced exploratory step-out drill holes (see mine sections presented at the end of this release as well as on the company's website).
Eastern Twin zone expansion
Drilling on the eastern strike extension of the Twin zone is focusing on increasing drill density and geological confidence in areas with a paucity of historical drill intercepts. UG18-072 intersected 14.49 grams per tonne gold over 4.05 metres. This intercept expands the Twin zone at a vertical depth of 320 metres below surface and 100 metres up-plunge from previously reported broad intervals of 19.26 g/t Au over 11.85 m and 11.21 g/t Au over 5.95 m in UG17-035 at a vertical depth of 375 m below surface.
This new mineralization is also corroborated by the previously reported intercept of 35.49 g/t Au over 4.35 m in UG17-036. There is high potential for further discovery here as historical drill hole pierce points are widely spaced and the Twin zone remains untested by drilling at depth and along strike.
412 Veining corridor infill drilling
Drill stations in the footwall development that are targeting the Eastern Twin zone also cross the 412 Veining corridor. Current drilling is expanding upon and adding geological confidence in this area. UG18-064 intersected 11.74 g/t Au over 4.5 m and confirms the continuity of the 412 Veining, as the intercept is positioned 25 m west of historical drill hole UG-1723 which intersected 25.90 g/t Au over one metre. Drill-hole spacings in the 412 Veining corridor average 25 metres.
Phase 2 drill program -- 200 footwall update
The continuing 11,000-metre phase 2 infill and exploratory drill program at Snip is well under way with 28 drill holes completed to date in the Eastern Twin and 412 Veining corridor areas. The company has also relocated a drill rig to test the newly modelled 200 Footwall corridor now that services have been provided to the necessary underground drill bays. Situated 200 metres below the Twin zone, which historically produced 709,601 ounces of gold averaging 28.95 g/t Au, the 200 Footwall is interpreted as a parallel, en echelon structure which is geologically and structurally analogous to, and contains mineralization similar to, the Twin zone. The 200 Footwall received limited underground drilling from previous operators and was successfully tested by 2016 Skeena drilling, which intersected 16.24 g/t Au over 13.5 m (S16-006) in a previously undrilled area. The geological similarities to the Twin zone, coupled with the lack of drill testing, make the 200 Footwall a substantial exploration target and a large portion of the 2018 program is designed to expand upon this newly modelled and largely untested area.
Analytical results from the phase 2 program will be disclosed in a timely manner once received.
Qualified persons
Exploration activities at Snip are administered on site by the company's exploration managers, Colin Russell, PGeo, and Adrian Newton, PGeo. In accordance with National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, Paul Geddes, PGeo, vice-president, exploration and resource development, is the qualified person for the company and has prepared, validated and approved the technical and scientific content of this news release. The company strictly adheres to Canadian Institute of Mining's best practices guidelines in conducting, documenting and reporting its exploration activities on its exploration projects.
Quality assurance -- quality control
Once received from the drill and processed, all drill core samples are sawn in half, labelled and bagged. The remaining drill core is subsequently securely stored on site. Numbered security tags are applied to lab shipments for chain of custody requirements. The company inserts quality control samples at regular intervals in the sample stream, including blanks and reference materials with all sample shipments to monitor laboratory performance. The QA/QC program was designed and approved by Lynda Bloom, PGeo, of Analytical Solutions Ltd., and is overseen by the company's qualified person, Mr. Geddes.
Drill core samples are submitted to ALS Geochemistry's analytical facility in North Vancouver, B.C., for preparation and analysis. The ALS facility is accredited to the ISO/IEC 17025 standard for gold assays and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is crushed and 250 grams are pulverized. Analysis for gold is by 50-gram fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.01 part per million and upper limit of 100 ppm. Samples with gold assays greater than 10 ppm are reanalyzed using a 1,000 gscreen metallic fire assay. A selected number of samples are also analyzed using a 48-multielemental-geochemical package by a four-acid digestion, followed by inductively coupled plasma atomic emission spectroscopy (ICP-AES) and inductively coupled plasma mass spectroscopy (ICP-MS).
SNIP PROJECT PHASE 2 LENGTH WEIGHTEDDRILL-HOLE GOLD COMPOSITESHole ID From (m) To (m) Length (m)Au (g/t)AreaUG18-06328.0029.75 1.755.72412UG18-063 151.25 152.40 1.154.15Twin EastUG18-06469.5074.00 4.50 11.74412Including 69.5071.00 1.50 31.80412UG18-064 108.00 109.50 1.509.74Twin EastUG18-064 113.70 114.40 0.70 14.00Twin EastUG18-064 144.00 145.50 1.506.76 Twin East HWUG18-06556.0556.55 0.508.38412UG18-06584.6785.17 0.504.27Twin EastUG18-06649.1049.60 0.50 10.15412UG18-06652.6053.10 0.509.45412UG18-06680.5082.00 1.509.00Twin EastUG18-06782.9083.40 0.509.85412UG18-067 202.00 203.56 1.564.94Twin EastUG18-068 186.50 188.00 1.506.89Twin EastUG18-06982.0883.23 1.15 17.20412UG18-069 111.00 114.00 3.005.89Twin EastIncluding111.00 112.00 1.00 10.20Twin EastUG18-069 120.00 121.50 1.508.60Twin EastUG18-069 137.50 138.00 0.50 10.80Twin EastUG18-069 140.80 141.30 0.506.21Twin EastUG18-069 142.04 143.00 0.966.39Twin EastUG18-069 173.00 174.00 1.006.46 Twin East HWUG18-070 Abandoned holeUG18-071 Assays pendingUG18-07281.2585.30 4.05 14.49Twin EastIncluding 81.2581.75 0.50 13.55Twin EastAnd 82.2583.10 0.858.91Twin EastAnd 83.1083.60 0.50 12.80Twin EastAnd 83.6084.30 0.70 18.00Twin EastAnd 84.3084.80 0.50 49.30Twin East True widths cannot be accurately determined from the information available,therefore core lengths are reported. Top cuts have not been applied to high-grade assays.
About Skeena Resources Ltd.
Skeena Resources 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 mine and the recently optioned Eskay Creek mine, 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 GJ copper-gold porphyry project.
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