Skeena Intersects 33.82 g/t AuEq over 22.50 metres at Eskay Creek

(firmenpresse) - Vancouver, BC (May 5, 2020) Skeena Resources Limited (TSX.V: SKE, OTCQX: SKREF) (Skeena or the Company - https://www.rohstoffnacht-tv.de/mediathek/play/skeena-resources-neustart-von-eskay-creek-mine-in-kanada-laeuft-nach-plan/ ) is pleased to announce final gold-silver drill results for the 4,327 metres completed so far this year from the Companys 2020 Phase I surface drilling program at the Eskay Creek Project (Eskay Creek) located in the Golden Triangle of British Columbia. Four surface drill rigs were utilized for the 2020 Phase I program in the 21A, 21B and 21C Zones to infill drill and enable upgrading areas of Inferred resources to the Indicated classification. Reference images are presented at the end of this release as well as on the Companys website.

Phase I Eskay Creek Drilling Highlights

- 32.21 g/t Au, 121 g/t Ag (33.82 g/t AuEq) over 22.50 m (SK-20-270) - 21B Zone
Including 753.00 g/t Au, 445 g/t Ag (758.93 g/t AuEq) over 0.83 m
- 5.90 g/t Au, 14 g/t Ag (6.09 g/t AuEq) over 24.55 m (SK-20-271) - 21B Zone
Including 25.60 g/t Au, 56 g/t Ag (26.35 g/t AuEq) over 1.50 m

Gold Equivalent (AuEq) calculated via the formula: Au (g/t) + [Ag (g/t) / 75]. Reported core lengths represent 80-100% of true widths and are supported by well-defined mineralization geometries derived from historical drilling. Grade capping of individual assays has not been applied to the Au and Ag assays informing the length weighted AuEq composites. Processing recoveries have not been applied to the AuEq calculation and are disclosed at 100%. Samples below detection limit are nulled to a value of zero.


21B Zone Continues to Demonstrate High Tenor
Infill drilling within the 21B Zone has intersected substantial high-grade mineralization as predicted and demonstrated by adjacent intercepts of 32.21 g/t Au, 121 g/t Ag (33.82 g/t AuEq) over 22.50 m, including 753.00 g/t Au, 445 g/t Ag (758.93 g/t AuEq) over 0.83 m (SK-20-270). This mineralization is hosted within the contact mudstones as well as mudstone-rhyolite breccias and improves upon the grades from the surrounding historical drill holes, including 4.94 g/t AuEq over 19.75 m (6636) and 0.73 g/t AuEq over 3.32 m and 0.88 g/t AuEq over 6.13 m (CA90-537).

Increased gold-silver tenor in the 21B Zone was established by an intersection in Phase I drilling of 5.90 g/t Au, 14 g/t Ag (6.09 g/t AuEq) over 24.55 m (SK-20-271) which is proximal to another historical intercept from a 1997 surface drill hole which averaged 3.07 g/t AuEq over 18.26 m (C97853).

The Phase I infill drill program at Eskay Creek continues to predictably confirm the grades and spatial limits of the resource model that was derived largely from the historical drilling database.

About Skeena
Skeena Resources Limited is a junior Canadian mining exploration company focused on developing prospective precious metal properties in the Golden Triangle of northwest British Columbia, Canada. The Companys primary activities are the exploration and development of the past-producing Eskay Creek gold-silver mine. The Company released a robust Preliminary Economic Assessment in late 2019 and is currently focused on infill and exploration drilling at Eskay Creek to advance the project to Pre-feasibility. Skeena is also exploring the past-producing Snip gold mine.


On behalf of the Board of Directors of Skeena Resources Limited,
https://www.irw-press.at/prcom/images/messages/2020/51750/05052020_EN_Skeena Intersects 33 82 gt AuEq over 22 50 m at Eskay Creek_FINAL.001.jpeg

Walter Coles Jr.
President & CEO


In Europe:
Swiss Resource Capital AG
Jochen Staiger
info(at)resource-capital.ch
www.resource-capital.ch


Qualified Persons
Exploration activities at the Eskay Creek Project are administered on site by the Companys Exploration Managers, Colin Russell, P.Geo. and Adrian Newton, P.Geo. In accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects, Paul Geddes, P.Geo. Vice President Exploration and Resource Development, is the Qualified Person for the Company and has prepared, validated and approved the technical and scientific content of this news release. The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting its exploration activities on its exploration projects.

Quality Assurance - Quality Control
Once received from the drill and processed, all drill core samples are sawn in half, labelled and bagged. The remaining drill core is subsequently securely stored on site. Numbered security tags are applied to lab shipments for chain of custody requirements. The Company inserts quality control (QC) samples at regular intervals in the sample stream, including blanks and reference materials with all sample shipments to monitor laboratory performance. The QAQC program was designed and approved by Lynda Bloom, P.Geo. of Analytical Solutions Ltd., and is overseen by the Companys Qualified Person, Paul Geddes, P.Geo, Vice President Exploration and Resource Development.

Drill core samples are submitted to ALS Geochemistrys analytical facility in North Vancouver, British Columbia for preparation and analysis. The ALS facility is accredited to the ISO/IEC 17025 standard for gold assays and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is crushed and 1kg is pulverized. Analysis for gold is by 50g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.01 ppm and upper limit of 100 ppm. Samples with gold assays greater than 100ppm are re-analyzed using a 50g fire assay fusion with gravimetric finish. Analysis for silver is by 50g fire assay fusion with gravimetric finish with a lower limit of 5ppm and upper limit of 10,000ppm. Samples with silver assays greater than 10,000ppm are re-analyzed using a gravimetric silver concentrate method. A selected number of samples are also analyzed using a 48 multi-elemental geochemical package by a 4-acid digestion, followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) and Inductively Coupled Plasma Mass Spectroscopy (ICP-MS) and also for mercury using an aqua regia digest with Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) finish. Samples with sulfur reporting greater than 10% from the multi-element analysis are re-analyzed for total sulfur by Leco furnace and infrared spectroscopy.


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. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet managements 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.


Table 1: Eskay Creek Project 2020 Phase I length weighted drill hole gold and silver composites:


HOLE-ID FROM TO (M)CORE AU AG AUEQ (G/T) ZONE
(M) LENGTH (G/T) (G/T
(M) )

SK-20-265 149.6 169.0 19.38 2.68 27 3.05 21B
2 0


INCLUDING 158.4 159.1 0.77 19.15 550 26.48 21B
2 9


SK-20-266 141.9 169.8 27.93 1.67 5 1.74 21B
2 5


SK-20-267 ABANDONED 21B
SK-20-268 166.0 180.0 14.00 2.01 5 2.08 21B
0 0


SK-20-269 135.0 147.9 12.96 1.12 14 1.31 21B
0 6


SK-20-269 155.0 162.5 7.50 1.55 7 1.65 21B
0 0


SK-20-270 137.0 159.5 22.50 32.21 121 33.82 21B
0 0


INCLUDING 138.0 139.0 1.00 12.35 167 14.58 21B
0 0


AND 139.0 139.5 0.50 14.35 957 27.11 21B
0 0


AND 139.5 140.5 1.00 2.64 1,3720.97 21B
0 0 5


AND 150.5 151.0 0.50 13.25 8 13.36 21B
0 0


AND 151.0 152.0 1.00 18.60 31 19.01 21B
0 0


AND 153.0 154.0 1.00 24.20 58 24.97 21B
0 0


AND 154.0 154.8 0.83 753.0 445 758.93 21B
0 3 0


SK-20-271 147.4 172.0 24.55 5.90 14 6.09 21B
5 0


INCLUDING 159.5 160.0 0.50 11.80 17 12.03 21B
0 0


AND 160.0 161.5 1.50 10.50 8 10.61 21B
0 0


AND 163.0 164.5 1.50 20.90 95 22.17 21B
0 0


AND 164.5 166.0 1.50 25.60 56 26.35 21B
0 0


AND 169.6 170.1 0.50 11.00 <5 11.00 21B
0 0


AND 170.1 171.0 0.90 18.95 6 19.03 21B
0 0


SK-20-272 ABANDONED 21A
SK-20-273 125.1 142.5 17.34 0.64 29 1.02 21A
6 0


SK-20-274 NOT YET DRI
LLED

SK-20-275 NOT YET
DRILLED

SK-20-276 NOT YET
DRILLED

SK-20-277 NOT YET
DRILLED

SK-20-278 NOT YET
DRILLED

SK-20-279 NOT YET
DRILLED

SK-20-280 NOT YET
DRILLED

SK-20-281 NOT YET
DRILLED

SK-20-282 NOT YET
DRILLED

SK-20-283 NOT YET
DRILLED

SK-20-284 NOT YET
DRILLED

SK-20-285 138.0 148.0 10.00 2.67 11 2.82 21B
0 0


SK-20-286 149.8 157.5 7.65 3.13 6 3.20 21B
5 0


SK-20-287 ABANDONED
SK-20-288 140.5 148.4 7.90 1.32 122 2.95 21A
0 0


Gold Equivalent (AuEq) calculated via the formula: Au (g/t) + [Ag (g/t) / 75]. Reported core lengths represent 80-100% of true widths and are supported by well-defined mineralization geometries derived from historical drilling. Length weighted AuEq composites were constrained by geological considerations. Grade capping of individual assays has not been applied to the Au and Ag assays informing the length weighted AuEq composites. Processing recoveries have not been applied to the AuEq calculation and are disclosed at 100%. Samples below detection limit were nulled to a value of zero.

Table 2: Mine grid Phase I drill hole locations and orientations:

HOLE-ID EASTING NORTHING ELEVATION LENGTH AZIMUTH DIP
(M)

SK-20-269813.4 10632.5 937.9 179.0 109.9 -60.0
5

SK-20-269813.4 10632.5 937.9 184.0 115.1 -66.0
6

SK-20-269788.9 10641.4 929.1 186.0 84.5 -59.2
8

SK-20-269789.0 10640.2 929.1 164.0 120.6 -74.1
9

SK-20-279788.4 10640.5 929.1 165.0 136.6 -73.4
0

SK-20-279828.7 10639.8 940.3 172.0 108.2 -76.7
1

SK-20-279756.4 10252.4 1010.5 5.0 151.8 -61.8
2

SK-20-279752.4 10253.9 1010.1 154.0 149.7 -74.1
3

SK-20-289842.7 10601.0 946.1 168.0 115.8 -69.2
5

SK-20-289828.3 10641.4 939.5 182.0 97.3 -68.2
6

SK-20-289753.2 10252.1 1010.2 13.6 150.2 -62.0
7

SK-20-289752.4 10253.9 1010.1 154.0 150.2 -62.0
8

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Datum: 05.05.2020 - 15:06 Uhr
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News-ID 611801
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