Skeena Receives Three-Year Exploration Permit and Mobilizes Drills to Spectrum Gold Project
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 29, 2015) - Skeena Resources Ltd. (TSX VENTURE:SKE) ("Skeena" or the "Company"), is pleased to report it has received a three-year drilling permit, begun field work and camp construction, and is mobilizing two drills to the Spectrum high-grade gold project in northwestern British Columbia.
Fieldwork, which commenced June 15, included re-sampling of historic core, soil sampling and prospecting under the direction of Jacques Stacey, MSc, PGeol, Project Manager. In addition, geological mapping is being led by Dr. Jim Oliver, PGeo, consultant.
Camp and drill pad construction is underway, and drilling is expected to begin on or about July 2. A total of 10,000 to 12,000 m of drilling in 50 to 60 holes is planned for this field season, with holes averaging 200 m and varying from 50 to 350 m in depth. The drill program has been designed to expand the historic resource at the 500 Colour and Central zones, the latter of which includes the QC 1, QC 2, Porphyry 1, and Porphyry 2 structures. Other holes will test the East Creek zone and other outlying targets. A 43-101 resource estimate will be completed in fall 2015.
An Archaeological Impact Assessment (AIA) was completed between June 15 and 19 by Rescan Tahltan Environmental Consultants in conjunction with representatives of the Tahltan Heritage Resources Environmental Assessment Team. The survey identified no archaeological sites over the proposed drilling areas in the Central, 500 Colour and East Creek zones. Two previously identified sites of obsidian flakes are known on the property, but are well away from the proposed drilling areas. The company has agreed to implement a "Chance Find Procedure" to protect any obsidian or other archaeological materials that might be discovered during exploration. The Company will also implement a Mountain Ungulate Management and Wildlife Observation Plan developed by Hemerra Envirochem Inc. The purpose is to minimize impacts of the Company's activity on goats, sheep, caribou and other wildlife that might be present in the area.
Skeena wishes to thank the Tahltan Heritage Resources Environmental Assessment Team, the Ministry of Energy and Mines, and other BC government agencies for their cooperation in expediting the approval of this work program. The Company intends to continue to work closely and cooperatively with representatives of the Tahltan Nation, and has committed to hire as many Tahltan people and contractors as possible.
The technical information in this news release has been reviewed by Michael S. Cathro, MSc, PGeo, Skeena's vice-president of operations and a qualified person as defined by National Instrument 43-101.
About Spectrum Gold
Spectrum is a structurally-hosted, high-grade, mesothermal gold deposit located in the prolific Golden Triangle of northwestern British Columbia. This area hosts other world-class gold and gold-copper mines and projects including Valley of the Kings (Pretivm), KSM (Seabridge), Galore Creek (Teck-Novagold), Snip (Barrick), Eskay Creek (Barrick) and Red Chris (Imperial). Infrastructure in the area has been greatly improved by the 2014 completion of BC Hydro's Northwest Transmission Line and Red Chris - Iskut Extension powerline, which passes within 30 km of the property.
Skeena's corporate goal is to establish a 43-101 compliant, two to three million ounce, high-grade gold resource in multiple, closely spaced, steeply dipping, parallel zones. The Spectrum property includes 13 known gold prospects most of which have received no previous drilling. The Central and 500 Colour zones are the most advanced, with nearly 100 drill holes and a historical gold resource of 614,000 tonnes grading 12.3 g/t Au at a 5.0 g/t cut-off, for 7550 Kg Au (243,600 ounces). The zones are open along strike in both directions, and at depth. The reader is cautioned that the historical estimate is not current and a Qualified Person has not done sufficient work to classify the historical estimate. Skeena is not treating the historical estimate as a current resource estimate.
About Skeena
Skeena Resources Ltd. is a junior Canadian mining exploration company involved in the acquisition, exploration and development of prospective base and precious metal properties throughout British Columbia. The Company's primary activities at present are the evaluation of the high-grade Spectrum Gold property. Skeena's management includes a highly experienced team of mine-finders, including Ron Netolitzky, Chairman, who was inducted into the Canadian Mining Hall of Fame in 2015.
ON BEHALF OF THE BOARD OF DIRECTORS OF SKEENA RESOURCES LIMITED
Walt Coles Jr., President & CEO
Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Contact
Skeena Resources Ltd.
Walt Coles Jr.
President & CEO
(604) 684-8725
Skeena Resources Ltd.
Tony Perri
Investor Relations, Manager
(604) 684-8725
(604) 669-2543
tperri@skeenaresources.com