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Drill taps high-grade gold in eastern Snip

Expansion area discovered during resource upgrade drilling North of 60 Mining News – August 6, 2021

Skeena Resources Ltd. Aug. 4 announced that its 2021 phase-3 infill drilling at Snip has confirmed and upgraded the modeled vein mineralization in the eastern footwall of this high-grade gold project in British Columbia's Golden Triangle.

According to a 2020 calculation, Snip hosts 539,000 metric tons of indicated resource averaging 14 grams per metric ton (244,000 ounces) gold; and 942,000 metric tons of inferred resources averaging 13.3 g/t (402,000 oz) gold.

The phase-3 infill drilling is primarily focused on upgrading areas of inferred resource to the higher confidence measured and indicated categories.

Highlights from the latest batch of results include:

0.8 meters averaging 390 g/t gold in hole UG21-178.

1.9 meters averaging 109.89 g/t gold in UG21-180.

4.17 meters averaging 29.31 g/t gold in UG21-181.

3.5 meters averaging 85.51 g/t gold in UG21-182.

Four meters averaging 85.91 g/t gold in UG21-183.

One meter averaging 164.5 g/t gold in UG21-189.

0.5 meters averaging 693 g/t gold in UG21-192.

12.5 meters averaging 27.04 g/t gold in UG21-202.

2.44 meters averaging 83.87 g/t gold in UG21-205.

2.76 meters averaging 74.59 g/t gold in UG21-214.

The 12.5 meters of 27.04 g/t gold encountered in UG21-202 is located only a few meters away from a partially sampled hole drilled by Barrick Gold Corp. in 1998 that only reported 0.8 meters averaging 2.11 g/t due to a lack of sampling. UG21-202 also parallels another incompletely sampled 1997 hole that cut 4.7 meters averaging 5.29 g/t gold. These incompletely sampled historical holes form the basis of Skeena's 2020 resource estimate in this area of the Snip deposit.

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Shane Lasley, Publisher

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Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.


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