Skeena drills 22.50 metres of 33.82 g/t AuEq at Eskay Creek

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Skeena Resources Ltd. [SKE-TSXV; SKREF-OTCQX; RXFB-FSE] has released final gold-silver drill results for the 4,327 metres completed so far this year from the company’s 2020 Phase I surface drilling program at the Eskay Creek Project in the Golden Triangle of northwestern British Columbia. Four surface drill rigs were utilized for the 2020 Phase I program in the 21A, 21B and 21C zones to infill drill and enable upgrading areas of inferred resources to the indicated classification.

Phase I Eskay Creek drilling highlights:

• 32.21 g/t gold and 121 g/t silver (33.82 g/t gold equivalent (AuEq)) over 22.50 metres (Hole SK-20-270) – 21B Zone, including 753.00 g/t gold and 445 g/t silver (758.93 g/t AuEq) over 0.83 metres;
• 5.90 g/t gold and 14 g/t silver (6.09 g/t AuEq) over 24.55 metres (Hole SK-20-271) – 21B zone, including 25.60 g/t gold and 56 g/t silver (26.35 g/t AuEq) over 1.50 metres.

Reported core lengths represent 80% to 100% of true widths and are supported by well-defined mineralization geometries derived from historical drilling. Grade capping of individual assays has not been applied to the gold and silver assays informing the length weighted AuEq composites. Processing recoveries have not been applied to the AuEq calculation and are disclosed at 100%.

Infill drilling within the 21B Zone has intersected substantial high-grade mineralization as predicted and demonstrated by adjacent intercepts 32.21 g/t gold and 121 g/t silver over 22.50 metres as reported above. This mineralization is hosted within the contact mudstones, as well as mudstone-rhyolite breccias and improves upon the grades from the surrounding historical drill holes, including 4.94 g/t AuEq over 19.75 metres (6636) and 0.73 g/t AuEq over 3.32 metres and 0.88 g/t AuEq over 6.13 metres (CA90-537).

Increased gold-silver tenor in the 21B Zone was established by the intersection in Phase I drilling of 5.90 g/t gold and 14 g/t silver over 24.55 metres (SK-20-271) as reported above, which is proximal to another historical intercept from a 1997 surface drill hole which averaged 3.07 g/t AuEq over 18.26 metres (C97853).

The Phase I infill drill program at Eskay Creek continues to predictably confirm the grades and spatial limits of the resource model that was derived largely from the historical drilling database.

Skeena’s primary activities are the exploration and development of the past-producing Eskay Creek gold-silver mine. The company also controls the past-producing Snip mine, also in the Gold Triangle.

Skeena has completed the asset purchase agreement, announced February 4, 2020, to sell 100% of its interest in the GJ copper-gold property in northwestern B.C. to Newcrest Red Chris Mining Limited for C$7.5 million in cash.


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