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Spectrum drilling exceeds expectations

 

Last updated 8/30/2015 at Noon



Skeena Resources Ltd. Aug. 20 said the first six holes of its 12,000-meter drill program at the Spectrum gold-copper property in northwestern British Columbia has cut multiple high-grade intercepts.

One of the best examples is S15-012 cut 10.59 grams per metric ton gold over 6.6 meters beginning at 102 meters, 25.27 g/t gold over 3.9 meters at 197.6 meters, and four meters grading 7.08 g/t gold at 234 meters; and S15-017, which cut 85 meters grading 9.79 g/t gold and 430 g/t silver starting at 103.2 meters, eight meters grading 10.46 g/t gold starting at 128 meters, and 3.6 meters grading 11.68 g/t gold starting at 157.4 meters.

"The results from the first few holes have exceeded our expectations and demonstrate the potential of the deposit to deliver high-grade gold intercepts," said Skeena Chairman Ron Netolitzky.

This year's 60-hole program at Spectrum is primarily focused on expanding the 500 Colour and Central zones and the information will be used to calculate an NI 43-101-compliant mineral resource by early 2016.

Additionally, Skeena has been carrying out soil sampling and prospecting focused on possible extensions to the known mineralized structures.

This work includes 168 samples collected from Target A, located north and east of the Central zone.

These samples averaged 550 parts per billion gold, with seven over 1,000 ppb gold and one sample returning 19,500 ppb gold (0.57 oz/ton).

These soil results are considered very significant as they indicate a potential new zone of high-grade mineralization parallel to and situated from 100-200 meters east of previous drilling and trenching.

The Central Zone remains open for more than 1,500 meters on strike to the north and south, based on recent geological mapping and soil geochemistry.

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