Expected high-grade gold at Eskay Creek
Infill hole cuts 22.5 meters of 32 g/t gold and 121 g/t silver North of 60 Mining News – May 8, 2020
Last updated 9/26/2020 at 2:24pm
Skeena Resources Ltd. May 5 reported the final assay results from the 4,327 meters of drilling completed so far this year at the Eskay Creek gold-silver project in the Golden Triangle region of Northwest British Columbia.
In February, Skeena launched a 2020 phase I program that is expected to include 28,000 meters of drilling at Eskay Creek. The company completed the first 4,237 meters prior to COVID-19 restrictions.
Initial results from this early program, which were released in April, include:
• 22.08 meters averaging 3.62 grams per metric ton gold and 41 g/t silver in hole SK-20-259.
• 36.19 meters of 2.61 g/t gold and 10 g/t silver in SK-20-263.
• 19.6 meters of 3.91 g/t gold and 21 g/t silver in SK-20-264.
These holes were drilled within the 21B and 21C Zones, which are situated in the deeper portions and later phases of an open-pit mine envisioned in a preliminary economic assessment completed in November.
This latest batch of results from drilling in the 21B zone include:
• 22.5 meters of 32.21 g/t gold and 121 g/t silver in SK-20-270.
• 24.6 meters of 5.9 g/t gold and 14 g/t silver in SK-20-271.
Skeena said the high-grade mineralization these holes at 21B was anticipated. This mineralization is hosted within the contact mudstones as well as mudstone-rhyolite breccias and improves upon the grades from historical drill holes in this area of 21B.
According to a calculation completed early in 2019, Eskay Creek hosts 12.71 million metric tons of surface mineable indicated resource averaging 4.5 g/t (1.82 million oz) gold and 117 g/t (47.79 million oz) silver; and 13.57 metric tons of surface mineable inferred resource averaging 2.2 g/t (984,000 oz) gold and 42 g/t (18.46 million oz) silver.
This resource calculation does not include any of the results from the 14,266 meters of resource upgrade and expansion drilling carried out during the 2019 phase-1 drill program at Eskay Creek.
Though Skeena has yet to announce its plans to resume drilling at Eskay Creek, the company is well funded for a large-scale program there, as well as exploration at Snip, another high-grade past producing gold project in the Golden Triangle.
In mid-April, Skeena completed the final tranche of a C$33.3 million financing and on May 1 finalized an agreement to sell its GJ gold-copper property in northern B.C. to Newcrest Mining Ltd. for C$7.5 million.