Vancouver, BC (October 13, 2017) Skeena Resources Limited (TSX.V: SKE) (“Skeena” or the “Company”) is pleased to announce the commencement of underground drilling at the 100% owned Snip gold project (“Snip”) located in the Golden Triangle of northwest British Columbia. The current drill program began on October 12, 2017 and will consist of 9,000 metres over approximately 73 holes.
Skeena’s CEO, Walter Coles Jr. commented, “I’m glad to report that underground services and survey controls have been established at Snip and we’ve started drilling. The onsite team has worked extremely hard to reach this point. We now have the ability to continue drilling through the winter, which is usually not possible for exploration projects in the Golden Triangle. We look forward to releasing a maiden resource estimate for Snip in 2018.”
Skeena retained DMAC Drilling Ltd., specialists in underground drilling, to complete the diamond drill program. The first 26 holes will be drilled from the 300 metre level to target mineralization in the Twin Zone and 150 Vein (cross sections available here). Drilling is intended to confirm and extend gold mineralization left behind by the previous operator (see news release dated March 6, 2017).
Future holes will target the 130 Vein, the 412 Zone and the newly defined 200 Footwall Zone (see new release dated November 1, 2016). A second drill rig will be mobilized to site shortly.
The scientific and technical information contained in this news release has been reviewed and approved by J. Rupert Allan, P.Geol., a Qualified Person as defined by National Instrument 43-101.
Skeena Resources Limited 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 gold mine, acquired from Barrick Gold, and the past-producing Porter Idaho silver mine. The Company also recently announced Preliminary Economic Assessment results for the Spectrum-GJ copper-gold porphyry project.
On behalf of the Board of Directors of Skeena Resources Limited,
Walter Coles Jr.
President & CEO
Cautionary note regarding forward-looking statements
Certain statements made and information contained herein may constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and United States securities legislation, including, among other things, information with respect to the expected size and terms of the Offering, the expected timing for closing of the Offering and the expected use of proceeds of the Offering. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management’s expectations. Forward-looking statements and information may be identified by such terms as “anticipates”, “believes”, “targets”, “estimates”, “plans”, “expects”, “may”, “will”, “could” or “would”. Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and reserves, the realization of resource and reserve estimates, metal prices, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes and other matters. While the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. The Company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws.
Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
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