Skeena Resources Ltd

Published : January 14th, 2015

Skeena Intersects 2 Metres of 254.50 g/t Gold (7.43 oz/ton) at Spectrum Project, BC

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Keywords :   Canada | Copper | Gold | Storage |

Skeena Intersects 2 Metres of 254.50 g/t Gold (7.43 oz/ton) at Spectrum Project, BC

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 14, 2015) - Skeena Resources Limited (TSX VENTURE:SKE) ("Skeena" or the "Company") is pleased to report assay results for the last four holes drilled on its 100% owned Spectrum property in northwest British Columbia. The property is situated 40 km west of Imperial Metals' Red-Chris Mine and 14 km west of Teck's GJ deposit. All holes yielded intervals of significant gold values. Highlights include: 43.80 g/t Au over 2.0 metres in hole 14-SP-006; 9.50 g/t Au over 2.0 metres in hole 14-SP-007; 4.58 g/t Au over 9.0 metres in hole 14-SP-008; 13.70 g/t Au over 4.0 metres and 254.50 g/t over 2.0 metres in hole 14-SP-09. This last intercept represents the deepest intersection of significant mineralization obtained to date (from 285 to 287 metres) from an apparent down-plunge extension of the 500 Colour Zone. All of the other intercepts were from an average of 50 metres beneath historic intercepts in the Central Zone.

A comprehensive listing of significant intervals is present as Table 1. The location of all the drill holes is presented in the plan map below. Interpretation of the drill results is on-going and will be a critical item for the planning of the 2015 exploration program. During the most recent program, 250 intervals of on-site historic core were re-sampled. The detailed results are presented in Table 2. Re-sampling of the historic drill core was impacted by more than 20 years of open field storage. There are issues with the amount of material available for re-sampling and the reliability of sample depth markers. Slight variation in sample intervals and inadequate remaining material may explain some differences in results. The sampling crew also observed that many high-grade intervals had already been sampled to exhaustion.

Preliminary observations indicate that the previously interpreted presence of a structurally controlled high-grade gold system in the Central Zone appears to have been confirmed. Furthermore, this system remains open both on strike and to depth. A review of the re-sampling of historic core and a statistical analyses of the assays of duplicate samples, inserted standards, and inserted blanks (the quality assurance/quality control, or QA/QC procedures) indicates that a moderate nugget effect exists which needs to be further investigated. In general the re-sampling compared reasonably well with the original assays, though higher-grade intervals (> 5 g/t Au) display greater variability (i.e. nugget effect) than low grade intervals (

The Central Zone drilling indicates a gold-rich system with no important secondary metals. However, historical results confirm that other targets on the property contain both significant gold and copper values. The 2015 exploration program will continue expanding both 500 Colour Zone and the Central Zone while other targets will be up-graded to the drill stage as the Company begins to prioritize all of the known targets.

Table 1

Hole Number
(ID)
From
(m)
To
(m)
Interval
(m)
Au
(g/t)
14-SP-006 123.0 125.2 2.2 2.83
139.0 141.0 2.0 1.19
177.0 179.0 2.0 1.04
195.0 197.0 2.0 43.80*
14-SP-007 22.0 24.0 2.0 2.31
36.0 38.0 2.0 1.40
54.0 56.0 2.0 1.04
58.0 62.0 4.0 1.49
88.0 90.0 2.0 1.49
103.0 105.0 2.0 3.22
103.0 140.0 37.0 3.78
113.0 117.0 4.0 5.26
Including 113.0 115.0 2.0 9.50*
136.0 140.0 4.0 1.44
158.0 160.0 2.0 1.65
195.0 198.0 3.0 3.82
Including 196.0 197.0 1.0 7.60*
14-SP-008 11.0 13.0 2.0 1.18
17.0 19.0 2.0 1.24
65.0 69.0 4.0 1.40
119.0 123.0 4.0 2.32
Including 119.0 121.0 2.0 3.30
155.0 157.0 2.0 1.53
159.0 161.0 2.0 2.22
173.0 190.0 17.0 3.41
Including 175.0 184.0 9.0 4.58
Including 175.0 177.0 2.0 8.50*
And 182.0 184.0 2.0 8.42
And 186.0 190.0 4.0 3.05
14-SP-009 151.0 153.0 2.0 1.68
157.0 159.0 2.0 1.07
173.0 177.0 4.0 13.67
Including 173.0 175.0 2.0 5.24
And 175.0 177.0 2.0 22.10*
181.0 183.0 2.0 1.79
255.0 257.0 2.0 10.00*
259.0 260.0 1.0 11.10*
285.0 287.0 2.0 254.50*
295.0 301.0 6.0 3.12
Note: asterisk (*) indicates Au Fire Assay; all other assays ICP-MS

Table 2

Historical Composites Skeena Resampling Results
Hole Number
(ID)
From
(m)
To
(m)
Interval (m) Au
(g/t)
Hole Number
(ID)
From
(m)
To
(m)
Interval (m) Au
(g/t)
90-59 76.0 78.5 2.5 5.55 90-59 76.0 78.5 2.5 7.15
100.6 126.2 25.6 6.53 100.6 126.2 25.6 9.76
including 100.6 103.3 2.7 19.79 including 100.6 103.3 2.7 63.20
and 110.0 115.8 5.8 10.48 and 110.0 115.8 5.8 8.06
90-63 30.5 84.1 53.6 3.43 90-63 30.5 84.1 53.6 1.61
including 69.3 78.5 9.2 22.41 including 69.3 78.5 9.2 6.62
including 69.3 75.5 6.2 24.34 including 69.3 75.5 6.2 9.62
including 69.3 73.6 4.3 34.29 including 69.3 73.6 4.3 13.63
96.0 100.0 4.0 4.75 96.0 100.0 4.0 7.96
129.0 130.5 1.5 6.47 127.0 139.9 12.9 2.74
including 133.5 135.3 1.8 9.50
91-69 86.7 100.0 13.3 4.07 91-69 86.7 100.0 13.3 0.51
including 86.7 89.5 2.8 16.61 86.7 89.5 2.8 0.15
86.7 88.0 1.3 39.42 86.7 88.0 1.3 0.15
102.8 108.0 5.2 3.77 102.8 108.0 5.2 2.36
including 105.0 108.0 3.0 4.65 105.0 108.0 3.0 2.38
91-70 86.5 87.0 0.5 9.49 91-70 interval missing, not sampled by SKE
120.5 122.0 1.5 2.79 120.5 122.0 1.5 0.22
181.5 183.5 2.0 4.91 interval missing, not sampled by SKE
91-73 78.0 97.0 19.0 2.07 91-73 78.0 97.0 19.0 2.52
including 86.0 89.0 3.0 5.84 including 86.0 89.0 3.0 7.17
145.4 153.1 7.7 4.11 145.4 153.1 7.7 4.27
177.9 179.5 1.6 4.48 177.9 179.5 1.6 0.1
91-76 18.9 71.0 52.1 5.44 91-76 18.9 71.0 52.1 7.29
including 38.0 43.5 5.5 19.94 including 38.0 43.5 5.5 32.67
and 63.0 65.5 2.5 10.63 and 63.0 65.5 2.5 11.03
and 70.4 71.0 0.6 26.40 interval missing, not sampled by SKE
91-77 15.3 41.0 25.7 3.42 91-77 15.3 41.0 25.7 3.00
including 15.3 26.5 11.2 5.83 including 15.3 26.5 11.2 5.41
including 15.3 18.5 3.2 16.84 including 15.3 18.5 3.2 13.72
and 38.0 40.0 2.0 6.19 and 38.0 40.0 2.0 2.73
109.0 114.0 5.0 1.93 109.0 114.0 5.0 2.56
91-85 36.3 39.5 3.20 2.75 91-85 36.3 40.5 4.20 1.11
including 36.3 37.2 0.9 7.75 including 36.3 37.2 0.9 1.36
78.0 86.0 8.0 4.11 78.0 86.0 8.0 0.95
including 83.0 85.0 2.0 12.09 78.0 80.0 2.0 1.07
99.0 101.0 2.0 4.94 99.0 101.0 2.0 2.46
106.3 108.0 1.7 6.37 106.3 108.0 1.7 4.55
91-86 72.0 115.0 43.0 7.20 91-86 72.0 115.0 43.0 6.07
including 72.0 83.8 11.8 16.8 including 72.0 83.8 11.8 13.81
including 75.0 81.0 6.0 31.76 including 75.0 81.0 6.0 24.45
and 101.0 106.4 5.4 13.37 and 101.0 106.4 5.4 12.02
and 110.0 112.0 2.0 6.48 and 110.0 112.0 2.0 2.04

Quality Assurance/Quality Control

Drilling was conducted under the supervision of Jacques Stacey, M.Sc., P.Geol. and Doug Cruickshank, M.Sc., P.Geol, both of Taiga Consultants Ltd.. A rigorous chain-of-custody and QA/QC program, consisting of the insertion of certified standard control samples, duplicates and blanks, was applied to the NQ diameter, split half-core samples. Sample preparation was handled by an Acme Analytical Laboratories facility in Smithers, B.C., and the analyses conducted by Acme Analytical in Vancouver, B.C. Gold content was determined by Inductively-Coupled Plasma Mass Spectrometer of a 15 gram aliquot utilizing hot aqua regia digestion. All samples that assayed greater than or equal to 5 g/t were re-analyzed by fire assay with a gravimetric finish of a 30 grams aliquot.

The Qualified Person for the Company, as defined in National Instrument 43-101, is Rupert Allan, P. Geol., Vice-President Exploration.

ON BEHALF OF THE BOARD OF DIRECTORS OF SKEENA RESOURCES LIMITED

Walt Coles Jr., President & CEO

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Except for statements of historical fact relating to Skeena Resources Limited, certain information contained herein constitutes "forward-looking statements". Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as "expects", "anticipates", "plans", "believes", "considers", "intends", "targets", or negative versions thereof and other similar expressions, or future or conditional verbs such as "may", "will", "should", "would" and "could". We provide forward-looking statements for the purpose of conveying information about our current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in Skeena Resources Limited's public filings, which may be accessed at www.sedar.com. Other than as specifically required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events, results or otherwise.

Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

To view the map associated with this press release, please visit the following link: http://media3.marketwire.com/docs/Skeena-jan14.pdf

Read the rest of the article at finance.yahoo.com
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Skeena Resources Ltd

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CODE : SKE.V
ISIN : CA83056P3016
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Skeena Resources is a gold and copper exploration company based in Canada.

Skeena Resources holds various exploration projects in Mexico.

Its main exploration properties are ANGLO-ROUYN TAILINGS RECOVERY PROJECT and BLACKHORN in Canada, EL CORAZON - MAGDALENA in Ecuador and MALPICA and TROPICO in Mexico.

Skeena Resources is listed in Canada and in United States of America. Its market capitalisation is CA$ 1.4 billions as of today (US$ 1.1 billions, € 897.7 millions).

Its stock quote reached its lowest recent point on November 14, 2008 at CA$ 0.01, and its highest recent level on August 07, 2020 at CA$ 3.12.

Skeena Resources has 535 880 000 shares outstanding.

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Annual reports of Skeena Resources Ltd
2008 annual report
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12/16/2015Delays Close of 2nd Tranche Financing
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6/4/2008Revises Proposed $3 Million Private Placement Financing
4/16/2008Proposes $3 Million Private Placement Financing
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5/29/2007Proposes $3.2 Million Private Placement Financing
5/25/2007Completes Flow Through Financing
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2/17/2009(Anglo-rouyn Tailings Recovery Project)acquires Anglo-Rouyn Tailings Recovery Project, Saskatchewan
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4/24/2008(Malpica) Commits to Malpica Project, Mexico with $1 Million Option P...
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Corporate news of Skeena Resources Ltd
7/27/2016Skeena Receives Drill Permits for Snip
7/25/2016Skeena Grants Incentive Stock Options
7/22/2016Skeena Closes Third and Final Tranche of Financing
6/29/2016Skeena to Acquire Sona Resources
6/23/2016Skeena Appoints New CFO and Grants Stock Options
6/20/2016Skeena Expands Drill Plans at Snip & Announces Positive Prel...
6/9/2016Skeena Announces Private Placement
5/18/2016Skeena Graduates to TSX Venture Exchange Tier 1
5/17/2016Skeena Announces 2016 Drill Plans for Snip
5/9/2016Skeena Announces 2016 Spectrum Exploration Plans
1/14/2016Skeena Releases Updated 43-101 Resource Estimate for the GJ ...
12/16/2015Skeena Delays Close of 2nd Tranche Financing
11/4/2015Skeena Acquires GJ Copper-Gold Project
10/26/2015Skeena Intersects 14 metres grading 7.82 g/t Au
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10/23/2015Sandstorm Gold Provides Asset Updates
10/13/2015Skeena Announces $6 Million Financing
10/9/2015Skeena Intersects 11.4 m grading 16.73 g/t Au
10/8/2015Skeena Intersects 11.4 m Grading 16.73 g/t Au
10/6/2015Skeena Acquires GJ Copper-Gold Project
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8/31/2015Skeena Confirms Proposals to Dolly Varden Silver
8/20/2015Skeena Releases Initial Drill Results
7/20/2015Skeena Update on Flotation Studies and Drilling at Spectrum ...
7/9/2015Drilling Underway at Spectrum
1/14/2015Skeena Intersects 2 Metres of 254.50 g/t Gold (7.43 oz/ton) ...
12/11/2014Skeena Reports Drill Assays from Spectrum Including 10.63 g/...
10/29/2014Skeena Completes Drill Program at Spectrum Gold Property, No...
5/26/2014IIROC Trading Resumption - SKE
4/28/2014Skeena Acquires High-Grade Spectrum Gold Property, Northwest...
4/9/2014IIROC Trading Halt - SKE
12/18/2013Announces Board Re-Organization
5/31/2012Announces Share Consolidation
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11/15/2007Contracts Airborne Survey over Malpica Copper-Gold Project, ...
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TSX-V (SKE.V)Other OTC (SKREF)
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