Analytical results from the recently completed drill holes are detailed in this release. Reference images are presented at the end of this release as well as on the Company's website.
New 23 Zone Highlights
1.97 g/t Au, 3 g/t Ag (2.00 g/t AuEq) over 40.50 m (SK-21-971)
0.58 g/t Au, 14 g/t Ag (0.76 g/t AuEq) over 52.00 m (SK-21-963)
3.00 g/t Au, 4 g/t Ag (3.05 g/t AuEq) over 7.49 m (SK-21-973)
Gold Equivalent (AuEq) calculated via the formula: Au (g/t) + [Ag (g/t) / 75]. True widths and zone geometries cannot be definitively determined at this time. Grade-capping of individual assays has not been applied to the Au and Ag assays informing the length-weighted AuEq composites. Metallurgical processing recoveries have not been applied to the AuEq calculation and are taken at 100%. Samples below detection limit were nulled to a value of zero.
Step Out Drilling Expands New 23 Zone
Situated beyond the extents of the currently defined pit-constrained resources at
Drill hole SK-21-971 was collared east of the newly announced discovery drill holes and has expanded the up-dip mineralization by 90 m having intersected 1.97 g/t Au, 3 g/t Ag (2.00 g/t AuEq) over 40.50 m. Drilling to date indicates a shallow, westerly dipping geometry and the 23 Zone remains open for expansion in all directions.
New 23 Zone Discussion
Positioned 200 m east of the high-grade 21A Zone, the area was historically drilled from surface by previous operators on widely spaced drill centers. Selective drill hole sampling during this era meant that the discovery of the larger and more robust mineralized widths observed as a result of the 2021 drilling program, were missed historically. This lack of non-continuous historical sampling is evidenced by 2021 drill hole SK-21-963 which intersected 0.58 g/t Au, 14 g/t Ag (0.76 g/t AuEq) over 52.00 m only metres away from historical 1990 drill hole CA90-433 which due to non-continuous sampling only reported 1.44 g/t AuEq and 0.82 g/t AuEq over 2.00 m and 5.00 m, respectively.
Mineralization in the 23 Zone is almost exclusively hosted within dacitic volcanic rocks and to a lesser degree, the overlying Lower Mudstone unit. As such, the Au-Ag grade is consistent with that observed in footwall mineralization elsewhere on the property (21A, 21B, 21C, 22 Zones). Concentrations of the epithermal suite of elements (As, Hg, Sb), are negligible as is the case with this style of footwall mineralization across
Southern Extension Targets
Gold in soil anomalies supported by geological considerations were targeted by an additional 6 drill holes on the Southern Extension targets on the property. Despite intersecting highly altered host rocks, no substantial grades were returned in these specific locations.
Current Status - Exploration
The regional exploration drilling program was designed to pragmatically test near surface targets across the
About Skeena
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Cautionary note regarding forward-looking statements
Certain statements and information contained or incorporated by reference in this press release constitute 'forward-looking information' and 'forward-looking statements' within the meaning of applicable Canadian and
Readers should not place undue reliance on such forward-looking statements. The Company does not undertake any obligations to update and/or revise any forward-looking statements except as required by applicable securities laws.
Cautionary note to U.S. Investors concerning estimates of mineral reserves and mineral resources
Skeena's mineral reserves and mineral resources included or incorporated by reference herein have been estimated in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ('NI 43-101') as required by Canadian securities regulatory authorities, which differ from the requirements of
The SEC Mineral Property Rules include terms describing mineral reserves and mineral resources that are substantially similar, but not always identical, to the corresponding terms under the CIM Definition Standards. The SEC Mineral Property Rules allow estimates of 'measured', 'indicated' and 'inferred' mineral resources. The SEC Mineral Property Rules' definitions of 'proven mineral reserve' and 'probable mineral reserve' are substantially similar to the corresponding CIM Definition Standards. Investors are cautioned that, while these terms are substantially similar to definitions in the CIM Definition Standards, differences exist between the definitions under the SEC Mineral Property Rules and the corresponding definitions in the CIM Definition Standards. Accordingly, there is no assurance any mineral reserves or mineral resources that Skeena may report as 'proven mineral reserves', 'probable mineral reserves', 'measured mineral resources', 'indicated mineral resources' and 'inferred mineral resources' under NI 43-101 would be the same had Skeena prepared the mineral reserve or mineral resource estimates under the standards adopted under the SEC Mineral Property Rules.
In addition, investors are cautioned not to assume that any part or all of Skeena's mineral resources constitute or will be converted into reserves. These terms have a great amount of uncertainty as to their economic and legal feasibility. Accordingly, investors are cautioned not to assume that any 'measured', 'indicated', or 'inferred' mineral resources that Skeena reports are or will be economically or legally mineable. Further, 'inferred mineral resources' have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an 'inferred mineral resource' will ever be upgraded to a higher category. Under Canadian securities laws, estimates of 'inferred mineral resources' may not form the basis of feasibility or prefeasibility studies, except in rare cases where permitted under NI 43-101.
For these reasons, the mineral reserve and mineral resource estimates and related information presented herein may not be comparable to similar information made public by
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