VANCOUVER, British Columbia, Sept. 14, 2017 (GLOBE NEWSWIRE) -- Skeena Resources Limited (TSX-V:SKE) (“Skeena” or the “Company”) is pleased to provide an update on the underground exploration program currently underway at the Snip gold project (“Snip”) located in the Golden Triangle region of northwest British Columbia. Since acquiring 100% ownership of Snip (see news release dated July 31, 2017), Skeena has successfully re-opened the historic portals at 300 metres and 440 metres above sea level in preparation for underground drilling.
Skeena’s CEO, Walter Coles, commented, “A tremendous amount of work has gone into re-opening the Snip mine. Safety is our top priority, so we are establishing ventilation and installing ground support prior to commencing drilling. The previous owner left the mine in very good condition and the operations team are evaluating what existing services can be used to speed up access and reduce costs. The first drill site should be ready in two weeks for DMac Drilling to setup and commence drilling.”
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/797a6853-3d53-43c6-893a-07aadb4ba639
To view more images of the 2017 underground exploration program at Snip, please click here.
Skeena retained Entech mining consultants, specialists in underground narrow vein gold mining, to assist with underground engineering, ventilation and budget forecasts. In addition, the company engaged CanMine Contracting LP to complete underground rehabilitation and related works.
Geotechnical and ventilation inspections of the internal ramp that connects the underground workings from the 300 level portal to the 550 level portal have now been completed. Initial ground conditions are favourable.
Proposed drill sites have also been visited and access for drilling is possible, significantly de-risking the upcoming exploration program. Phase 1 of the underground drill program will consist of 73 holes from 24 drill stations. Drilling is intended to confirm and extend gold mineralization left behind by the previous operator in the Twin Zone and footwall vein structures including: the 150 and 130 Veins, the 412 Zone and the 200 Footwall Zone (see news release dated March 6, 2017).
In addition to accessing the underground workings, Skeena has winterized the existing camp and facilities at Snip to allow for year-round exploration.
The Company acquired all necessary mining and environmental permits for Snip and assumed full ownership responsibility for the site including ongoing routine environmental management and monitoring. Negotiations are underway with the Tahltan Nation to finalize an exploration agreement. Concurrently, Skeena continues to work with the Tahltan Nation in accordance with the Communications Agreement signed earlier this year (see news release dated January 24, 2017).
About Skeena
Skeena Resources Limited is a junior Canadian mining exploration company focused on developing prospective base and precious metal properties in the Golden Triangle region 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.
Qualified Person
The technical information contained in this news release has been reviewed and approved by Skeena’s Vice President of Operations, Michael S. Cathro, P.Geo., a Qualified Person as described by National Instrument 43-101.
On behalf of the Board of Directors of Skeena Resources Limited,
Walter Coles Jr.
President & CEO
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 management’s 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, the results of future exploration, 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.
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