Skeena Resources drills 11.85 m of 19.26 g/t Au at Snip

SKEENA INTERSECTS 19.26 G/T GOLD OVER 11.85 METRES AT SNIP

Skeena Resources Ltd. TSX-V: SKE has released additional drill results from 13 holes at the company’s Snip gold project located in the Golden Triangle of British Columbia.

Drilling highlights:

  • UG17-027: 74.35 grams per tonne gold over 2.00 metres;
  • UG17-033: 77.41 g/t Au over 1.10 metres;
  • UG17-034: 26.28 g/t Au over 2.03 metres;
  • UG17-034: 7.48 g/t Au over 6.35 metres;
  • UG17-035: 19.26 g/t Au over 11.85 metres;
  • UG17-035: 11.21 g/t Au over 5.95 metres;
  • UG17-036: 35.49 g/t Au over 4.35 metres.

Cross-sections and drill hole data are available on the company’s website. A detailed table of length-weighted gold composites is presented in the associated table. Assays are still pending for 21 holes of the 62 underground drill holes completed in 2017.

Twin zone extension demonstrates high gold tenor

Underground drill hole UG17-035 on Section 4920E intersected two previously undrilled mineralized sections of the eastern Twin zone grading 19.26 g/t Au over 11.85 metres followed by a second interval grading 11.21 g/t Au over 5.95 metres. These new intersections are located 60 metres updip of historic drill hole UG-56 (drilled in 1988), which intersected 14.73 g/t Au over 4.00 metres. On the same section 100 metres updip of the new occurrences, 2017 drill hole UG17-036 intersected additional mineralization grading 35.49 g/t Au over 4.35 metres. The Twin zone was further extended on Section 4900E by drill holes UG17-027 and UG17-028 which intersected 74.35 g/t Au over 2.00 metres and 6.77 g/t Au over 7.56 metres, respectively.

High-grade 412 zone demonstrates continuity

The 412 zone, located 150 metres into the footwall of the Twin zone, continues to show continuity with drill hole UG17-034 on Section 4920E intersecting two mineralized veins averaging 26.28 g/t Au over 2.03 metres and 7.48 g/t Au over 6.35 metres. The downdip continuity of the 412 zone is demonstrated by previously disclosed 2017 drill holes UG17-021 which intersected 4.88 g/t Au over 8.30 metres including 37.60 g/t Au over 0.50 metre and UG17-020 which intersected 132.00 g/t Au over 0.50 metre. This mineralized corridor remains open for expansion at depth.

The Twin zone, which accounted for 61 per cent of historical production, is a dilatant shear zone consisting of a number of southwest-dipping shear veins. The most productive parts of the shear zone occur when the structures change orientation and become steeper dipping, causing zones of extension that can form thicker zones of mineralization, including parallel zones as seen in the 150 and 130 veins, which accounted for 24 per cent of historical production. Two thousand seventeen underground drilling is successfully identifying other dilatant shear zones, caused by changes in attitude of the shears, and specifically zones that are down plunge or in the footwall of the Twin zone, such as the 412 zone.

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 NQ2-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 person

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 metal 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.

      SNIP 2017 UNDERGROUND DRILL HOLE ASSAYS
 
Hole            From         To     Length         Au  
No.              (m)        (m)        (m)      (g/t)

UG17-026        1.85       3.45       1.60       5.41
               31.75      32.75       1.00       5.63
               77.20      77.70       0.50       7.17
               92.00      95.30       3.30       6.40
UG17-027      119.50     121.50       2.00      74.35
incl.         119.50     120.00       0.50     290.00
              128.00     129.50       1.50       3.16
UG17-028        1.50       2.52       1.02      13.80
               89.00      96.56       7.56       6.77
incl.          89.00      90.50       1.50      12.30
and            93.72      95.00       1.28      14.15
UG17-029       50.40      51.00       0.60      87.70
               84.90      87.95       3.05       4.67
UG17-038        3.90       4.40       0.50       4.74
              117.30     118.80       1.50       4.68
              126.20     127.10       0.90       4.67
UG17-032       99.00     100.50       1.50       4.68
              116.50     119.50       3.00       6.90
UG17-033       75.70      76.80       1.10      77.14
               88.85      89.85       1.00       6.34
              134.45     135.15       0.70       5.74
UG17-034       53.22      55.25       2.03      26.28
incl.          53.22      54.25       1.03      50.80
               76.65      83.00       6.35       7.48
incl.          81.10      81.80       0.70      24.60
UG17-035        6.45       7.45       1.00       9.25
               91.60      92.10       0.50      19.00
              129.00     140.85      11.85      19.26
incl.         136.50     140.85       4.35      47.45
incl.         138.00     139.00       1.00      17.20
and           140.35     140.85       0.50     352.00
              152.05     158.00       5.95      11.21
UG17-036       59.20      63.55       4.35      35.49
incl.          59.20      59.80       0.60      11.30
and            62.70      63.55       0.85     171.00
              106.90     107.59       0.69      13.50
UG17-037        3.15       4.50       1.35       6.37
               35.00      36.80       1.80       5.10
               65.60      66.35       0.75      43.90
               73.70      74.70       1.00      12.91
UG17-041       50.60      51.20       0.60      10.20
               87.95      88.85       0.90      10.90
UG17-042        4.50       5.20       0.70      11.20
               41.00      42.50       1.50       7.29
              126.90     128.00       1.10      24.80

Notes: All values are uncut. Drill intercepts are 
core length as there are insufficient data available 
to present true widths.

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