Mr. Walter Coles reports
SKEENA INTERSECTS 21.77 G/T GOLD OVER 7.20 METRES AT SNIP
Skeena Resources Ltd. has released additional drill results from 11 holes at the company's Snip gold project, located in the Golden Triangle of British Columbia. The 2017 underground drill program finished on Dec. 16, 2017, with a total of 8,650 metres drilled over 62 holes. Assays are still pending for 34 holes.
Cross-sections and drill hole data are available on the company's website. A detailed table of length-weighted gold composites is presented in this news release.
High grades intersected at Twin zone east
Targeting the eastern extension of the Twin zone on Section 4860E, drill hole UG17-040 intersected 50.21 grams per tonne gold over 2.00 metres while 40 metres updip, and drill hole UG17-030 intersected 12.84 g/t Au over 2.90 metres. On the same section 110 metres farther updip, drill hole UG17-039 intersected two additional intersections grading 20.17 g/t Au over 2.40 metres and 14.40 g/t Au over 1.55 metres. During historical production at the Snip mine, the Twin zone comprised the bulk of the produced ounces and ranged in width from 0.5 to 15.0 metres.
Supplementary results on Section 4860E include drill hole UG17-030, which intersected 21.77 g/t Au over 7.2 metres, including 133.00 g/t Au over 1.00 metre. This newly discovered mineralization may indicate a new shear zone located between the Twin zone and 150 vein that warrants follow-up.
412 zone drilling
Section 4930E was drilled with four fanned drill holes to confirm the historical drilling in the newly defined 412 zone. Highlights include drill hole UG17-018, which intersected 22.01 g/t Au over 1.90 metres, as well as 7.99 g/t Au over 3.00 metres. Located 80 metres downdip of UG17-018, drill hole UG17-020 intersected 132.00 g/t Au over 0.50 metre. The 412 zone appears to be a series of parallel, high-grade shears located in the footwall below the Twin zone and 150 veins in an area without previous mining.
Skeena's chief executive officer, Walter Coles Jr., commented: "We are delighted by the drill results to date from Snip as we continue to see grades and widths that are consistent with historical results. The most recent drill assays from the 412 zone are particularly exciting as this area was never mined and we've been able to expand the mineralized zone. Once all results from the 2017 underground drill program have been received, we will announce detailed plans for further underground drilling and surface drilling in 2018."
Additional assay results are expected shortly. A phase 2 underground drill program is expected to commence in February with surface drilling planned for summer 2018.
Quality assurance and quality control
A rigorous chain-of-custody and quality assurance/quality control program, consisting of the insertion of certified standard control samples, duplicates and blanks, was applied to the NQ 2-diameter, sawn half-core samples. Sample preparation and analyses for 2017 samples were completed at Activation Labs in Kamloops, B.C. Gold is determined by 50-gram fire assay followed by an atomic absorption finish, or by gravimetric finish for samples over 10 g/t. Silver and other elements are determined by an ICP analysis following aqua regia digestion. Samples with over 100 g/t silver, 0.5 per cent lead or 1 per cent zinc are reanalyzed by a four-acid digestion followed by ICP-OES.
Qualified persons
The scientific and technical information contained in this news release has been reviewed and approved by Skeena's chief geologist, Ron Nichols, PEng, a qualified person as defined by National Instrument 43-101.
About Skeena Resources Ltd.
Skeena Resources is a junior Canadian mining exploration company focused on developing prospective precious and base metal properties in the Golden Triangle of northwest British Columbia, Canada. The company's primary activities are the exploration and development of the past-producing Snip and Eskay Creek mines, both acquired from Barrick. In addition, the company is performing preliminary exploration on the past-producing Porter Idaho silver mine and has completed a preliminary economic assessment on the Spectrum-GJ copper-gold porphyry project.
SNIP 2017 UNDERGROUND DRILL HOLE ASSAYS Section Hole No.FromTo Length (m)Au g/t Target4460E-300 UG17-022 85.00 85.550.55 1.56 150 vein4460E-300 UG17-023Assays pending150 vein4460E-300 UG17-024 96.10 96.600.50 4.48 150 vein4460E-300 UG17-025 77.72 79.251.53 3.42 150 vein4860E-500 UG17-030 47.80 55.007.2021.77incl.47.80 48.300.5013.60and51.00 52.001.00 133.00107.50 108.00.5072.50Twin zone120.20123.102.9012.84Twin zoneincl. 120.20121.201.0032.804860E-500 UG17-031 28.00 29.351.35 4.16 150 vein103.70105.651.95 6.35Twin zone4860E-500 UG17-0394.005.251.25 4.83 150 vein 32.10 33.101.00 5.69 54.6555.20.55 8.30 82.50 83.000.50 7.49 88.10 90.502.4020.17Twin zoneincl.88.10 88.600.5088.40 95.40 95.900.50 5.38112.25 113.81.5514.40Twin zone4860E-500 UG17-040 18.20 23.505.30 4.52 150 veinincl.18.20 18.700.5017.00119.00122.903.90 5.35incl. 121.95 122.90.9512.30157.50159.502.0050.21Twin zoneincl. 157.50158.150.65 140.004930E-412 UG17-018 63.00 64.901.9022.01 412 zoneincl.63.00 63.900.9043.30100.00100.800.8027.20106.50109.503.00 7.99incl. 108.00109.501.5010.60117.50118.000.50 7.234930E-412 UG17-0197.357.850.50 5.09 412 zone 50.00 51.001.00 6.10 69.00 69.500.50 7.244930E-412 UG17-0206.007.501.50 4.47 412 zone 63.50 64.000.50 132.004930E-412 UG17-021 41.60 49.908.30 4.88 412 zoneincl.42.65 43.150.5012.80incl.49.40 49.900.5037.60 74.50 75.601.10 5.70Notes: All values are uncut. Drill intercepts are core length as there are insufficient data available to present true widths.
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