Spectrum-GJ

Spectrum-GJ

The 43,410-hectare Spectrum-GJ gold-copper property consists of 93 contiguous mineral claims situated approximately 30 km west of Imperial Metals’ Red Chris Mine in the Golden Triangle of northwest British Columbia. Infrastructure and access to the property are excellent as the property is crossed by Highway 37, several forestry roads and winter trails, and the new 287 kV Northwest Transmission Line.

The property consists of two separate mineral resources that will combine to form an NI 43-101 Preliminary Economic Assessment (PEA), expected to be released in April, 2017. Metallurgical, resource modelling, mining and environmental studies are also underway for the PEA. Current NI 43-101 mineral resource estimates are shown below.

In 2016, 2,872 metres were drilled in 8 holes at GJ Donnelly Deposit, and 6,279 metres were drilled in 22 holes at Spectrum Central Zone, in part to collect large diameter core samples for metallurgical test work and to also better define the grade and dimensions of the mineralization within the target mining areas. The PEA will include updated NI 43-101 mineral resource estimates that incorporate the 2016 definition drilling results.

Geology and Mineralization

Spectrum

Two main styles of gold and copper mineralization are present at Spectrum: structurally-hosted, high-grade, sulphide-gold (>4 g/t Au) and bulk tonnage, disseminated, porphyry-style gold-copper mineralization. Both are spatially associated with steeply-dipping fractured and brecciated zones which are contained within a broad area of altered Stuhini Group intermediate volcanics and volcaniclastic rocks at the contact zone and within a dike-like monzonite intrusion of Jurassic age.

The Central Zone mineral resource at Spectrum consists of a broad zone of low-grade porphyry gold-copper mineralization cut by at least 4 sub-parallel steeply dipping higher-grade gold mineralized structures. Mineralization is subvertical and trends northerly. Mineralization consists of gold-bearing pyrite, native gold, arsenopyrite, chalcopyrite and sphalerite, and remains partially open along strike and down dip.

GJ

The GJ property hosts porphyry copper-gold mineralization related to quartz deficient intrusives wherein the Donnelly, North Donnelly, GJ, Wolf and North copper-gold porphyry zones have been the principal exploration targets, with the Donnelly Deposit being the focus of the current mineral resource. GJ is underlain by Stuhini Group rocks intruded by the Groat Stock which is unconformably overlain by Lower Jurassic Hazelton volcanic rocks. Porphyry-style alteration and copper-gold mineralization occur within the stock and in the Stuhini Group rocks where disseminated, fracture, quartz vein and quartz stockwork controlled pyrite with variable chalcopyrite containing elevated gold values have been identified.

*Resource calculation completed by J.R. Stacey, P.Geo. and G.H. Giroux, P.Eng., May 31, 2016

**Resource calculation completed by G.R. Peatfield, P.Eng., G.H. Giroux, P.Eng., and M.S. Cathro, P.Geo., April 11, 2016

For additional information on the resource estimates, see Skeena’s news releases dated January 14, 2016 and April 25, 2016.

Mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral resource estimates do not account for mineability, selectivity, mining loss and dilution. These mineral resource estimates include inferred mineral resources that are normally considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is also no certainty that these inferred mineral resources will be converted to measured and indicated categories through further drilling, or into mineral reserves, once economic considerations are applied.

The technical information within this website has been reviewed by Michael S. Cathro, M.Sc., P.Geo., Skeena's Vice President of Operations, and a qualified person as defined by National Instrument 43-101.