Eskay Mining Corp. [ESK-TSXV, ESKYF-OTCQB, KN7-Frankfurt, AOYDPM] said it has encountered broad intercepts of precious metal-rich stockwork feeder mineralization in the TV deposit at its 100%-owned Consolidated Eskay VMS project in British Columbia.
Drilling highlights include 47.8 metres of grade 5.2 g/t gold equivalent (AuEQ) within 140.3 metres of grade 2.6 g/t AuEq, and 44.4 metres of grade 4.7 g/t AuEq within 92.3 metres of grade 2.7 g/t AuEq.
Eskay is focused on exploration and development of precious and base metals along the Eskay rift in a region of northwestern British Columbia known as the Golden Triangle, approximately 70 kilometres northwest of Stewart.
Its portfolio includes several gold and silver showings to the south and east of its SIB property, (which adjoins a previously mined rich VMS deposit known as the Eskay Creek mine), including the TV zone, which is held 80% by Eskay Mining and 20% by Kirkland Lake Gold Ltd. [KL-TSX, NYSE, KLA-ASX].
Eskay Mining completed approximately 23,500 metres of diamond drilling in 98 holes at its Consolidated Eskay precious-metal rich VMS (volcanogenic massive sulphide) project in 2021. Results released on Monday are from five drill holes.
The program picked up where diamond drill results from the 2020 program at the TV deposit, located approximately 13 kilometres south of Skeena Resources Ltd.’s [SKE-TSXV, SKREF-OTCQX, RXFB-FRA] Eskay Creek mine, left off.
“These first five holes indicate there is a large stockwork feeder under the upper massive sulfide deposit discovered in drilling late in the season,’’ the company said in a press release.
It said the 92.3-metre 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 down dip. “We will be anxious to see return of further assays from the TV stockwork, the upper and lower massive sulfide horizons, as well as the other VMS systems drilled by Eskay this season,’’ the company said. “These results are a great start.’’
“The TV deposit is showing all the signs of a textbook VMS system,’’ said Eskay’s Vice-President, Exploration, Dr. John DeDecker.
On November 5, 2021, Eskay shares closed at $2.13 in light trading activity. The shares currently trade in a 52-week range of $3.14 and 80 cents.
Eskay was in the news recently when it agreed to acquire a 19.5% stake in Garibaldi Resources Corp. [GGI-TSXV, GGIFF-OTC]. It said the acquisition was being made for investment purposes.
The company currently holds mineral tenures in this area covering 130,000 acres.
Garibaldi Resources has a 100% interest in the E&L project located on Nickel Mountain near Eskay Creek in northwestern B.C. The E&L project is the first magmatic nickel-copper-rich massive sulphide system to be discovered in B.C.’s Golden Triangle region which is known historically for its endowment of gold and silver.
Interest in Nickel Mountain was triggered in the summer of 2017 when drill hole EL-17-14 intersected 8.3% nickel, 4.2% copper, 0.19% cobalt, 1.96 g/t platinum, 4.5 g/t palladium, 1.1 g/t gold, and 11.1 g/t silver over 16.75 metres starting just 100.4 metres downhole, within a broader 40.4 metre core length highlighted by 3.9% nickel and 2.4% copper.