Skeena Resources drills 14 metres of 7.28 g/t gold at Spectrum

Skeena Resources Ltd. [SKE-TSXV] has relported assay results for nine holes totaling 2,828 metres from its drill program at the Spectrum gold project in the Golden Triangle of northwestern British Columbia. Exploration drilling is now complete for the season, with a total of 17,357 metres drilled in 61 holes. Assays for the remaining 18 holes (6,576 metres) will be reported over the next four to six weeks.

Walter Coles, President and CEO, said, “Drilling in the southern part of the central zone continues to reveal areas of high-grade gold intersections with meaningful widths. In addition, hole S15-044, drilled through the western part of the central zone, has increased the volume of newly recognized, near-surface, low-grade porphyry gold-copper mineralization. This porphyry-style mineralization partially overlaps with the high-grade structures and is certainly open to the west, at depth, and perhaps on strike too.”

Highlights:

Hole S15-049, drilled on Section 4810N toward the south end of the central zone, intersected four intervals with greater than 5.0 g/t gold between 197 metres and 232 metres, with the best being 14 metres grading 7.82 g/t gold, including 2.0 metres grading 35 g/t gold. Hole S15-048, drilled above S15-049 on the same section, was abandoned due to drilling problems at 149.8 metres short of its target and returned no significant values. Assays are pending for three additional holes drilled under hole S15-049.

Hole S15-046, drilled on Section 4930N at depth in the middle part of the central zone, intersected a high-grade interval of 4.0 metres grading 16.97 g/t gold, including 2.0 metres grading 29.8 g/t gold.

Hole S15-044, also drilled on Section 4930N in the west-central portion of the deposit, encountered two broad intervals of porphyry gold-copper mineralization with 172 metres grading 0.6 g/t gold and 0.14% copper, beginning at a downhole depth of 6.0 metres, and a deeper interval of 47.73 metres grading 0.49 g/t gold and 0.13% copper. This hole was drilled above and to the west of hole S15-036, which cut lower-grade porphyry mineralization with an interval of 147.5 metres grading 0.42 g/t gold and 0.08% copper (see news release of Oct. 8, 2015).

The results from hole S15-044 suggest that the tenor of porphyry mineralization in this area is improving to the west. This mineralization is thought to form a north-trending, moderately to steeply west-dipping panel, associated with the main monzonite body, and partially overlapping with high-grade gold zones that have been the primary focus of the 2015 drilling. Based on 2015 and historical drilling, the porphyry-style gold-copper mineralization has dimensions of approximately 600 metres in a north-south direction, 100 metres to 150 metres in width and 200 metres to 250 metres in depth.

An updated drill plan, a table of collar information and a list of intersections are available on the Skeena website. Skeena remains on track to publish a NI 43-101-compliant resource estimate for the Spectrum Project in the first quarter of 2016. In addition, Skeena will publish an updated NI 43-101-compliant resource estimate for the adjacent GJ in December, 2015, which will be updated to include drilling completed by Teck during the period from 2010 through 2014.

Getting ready to drill the Spectrum property in northwest British Columbia. Source: Skeena Resources Ltd.

Getting ready to drill the Spectrum property in northwest British Columbia. Source: Skeena Resources Ltd.

Filed in: Gold, Resources

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