TSX VENTURE: SKE
www.skeenaresources.com
Mr. Walter Coles reports:
VANCOUVER, British Columbia, Jan. 23, 2018 (GLOBE NEWSWIRE) -- Skeena Resources Limited (TSX.V:SKE) ("Skeena" or the "Company") is pleased to announce additional drill results from 9 holes at the Company's Snip gold project ("Snip") located in the Golden Triangle of British Columbia.
Drilling Highlights
UG17-044: 12.59 g/t Au over 4.70 metresUG17-053: 58.70 g/t Au over 1.15 metresUG17-054: 30.40 g/t Au over 1.50 metresUG17-055: 23.30 g/t Au over 1.50 metresUG17-062: 91.56 g/t Au over 3.82 metresCross sections and drill hole data are available on the Company's website. A detailed table of length-weighted gold composites is presented at the end of this news release.
Upper Twin Zone Continues to Demonstrate Continuity
Targeting a less densely drilled portion of the Upper Twin Zone, 2017 underground drill hole UG17-062 intersected two intervals grading 91.56 g/t Au over 3.82 metres and 8.71 g/t Au over 5.00 metres. This hole successfully demonstrates the up-dip grade and geological continuity of the Upper Twin. Previously disclosed Skeena drill hole UG17-035 intersected the same style of mineralization again over two intervals grading 19.26 g/t Au over 11.85 metres as well as 11.21 g/t Au over 5.95 metres. Inclusive of historical drilling, this portion of the Upper Twin has now been traced along its dip extent for 370 metres and remains open for expansion.
In the footwall of the Upper Twin, drilling has also confirmed and is expanding upon the extensional veining systems that are geologically equivalent to the historically mined 130 and 150 Vein systems. Drill hole UG17-044 intersected 12.59 g/t Au over 4.70 metres and the geological continuity is verified by UG17-054 and UG17-055 which graded 30.40 g/t Au over 1.50 metres and 23.30 g/t Au over 1.50 metres respectively.
Skeena's CEO, Walter Coles Jr. commented, "The latest drill results from Snip speak for themselves. They confirm the high-grade nature of the deposit and the continuity of the veins. We're looking forward to getting back underground in February and commencing a surface exploration drill program in the spring."
Assays are still pending for 12 of the 62 underground drill holes completed in 2017. A Phase 2 underground drill program is expected to commence in February with surface drilling planned for summer 2018.
Quality Assurance and Quality Control Qualified Persons About Skeena Snip 2017 Underground Drill Hole Assays Notes: All values are un-cut. Drill intercepts are core length as there is insufficient data available to present true widths.
A rigorous chain-of-custody and quality assurance/quality control program, consisting of the insertion of certified standard control samples, duplicates and blanks, was applied to the NQ 2?EUR<-diameter, sawn half-core samples. Sample preparation and analyses for 2017 samples were completed at Activation Labs in ?EUR
The scientific and technical information contained in this news release has been reviewed and approved by Skeena's Chief Geologist, Ron Nichols, P.Eng., a Qualified Person as defined by National Instrument 43-101.
Skeena Resources Limited 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 and Eskay Creek mines, 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 Spectrum-GJ copper-gold porphyry project.SECTION HOLE # FROM TO LENGTH (M) AU g/t TARGET 4460E-300 UG17-023 93.00 94.50 1.50 2.87 150 Zone 4930E-550 UG17-062 134.00 139.00 5.00 8.71 Upper Twin incl. 137.00 139.00 2.00 13.78 148.56 152.38 3.82 91.56 incl. 150.90 152.38 1.48 231.42 4950E-550 UG17-053 128.00 128.60 0.60 42.20 Upper Twin 133.70 135.20 1.50 11.30 148.95 150.10 1.15 58.70 158.00 158.70 0.70 8.82 4950E-550 UG17-054 36.50 38.00 1.50 8.59 Upper Twin 111.00 112.50 1.50 30.40 124.50 125.85 1.35 7.66 145.50 149.65 4.15 5.00 191.25 192.00 0.75 23.50 4950E-550 UG17-055 93.20 94.70 1.50 23.30 Upper Twin 109.70 110.20 0.50 52.00 4950E-550 UG17-056 160.00 161.00 1.00 4.18 Upper Twin 178.70 179.50 0.80 5.10 4970E-550 UG17-043 119.40 119.90 0.50 10.30 Upper Twin 141.00 142.50 1.50 7.21 151.85 153.00 1.15 6.45 4970E-550 UG17-044 114.45 116.10 1.65 6.92 Upper Twin 125.00 129.70 4.70 12.59 4970E-550 UG17-045 102.50 105.50 3.00 5.90 Upper Twin 108.50 111.00 2.50 6.25 112.50 114.80 2.30 5.21 119.55 121.00 1.45 4.54