Skeena Adds Near Surface Mineralization in 22 Zone with 6.00 g/t AuEq over 26.28 metres
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Skeena Adds Near Surface Mineralization in 22 Zone with 6.00 g/t AuEq over 26.28 metres

Wednesday, January 6, 2021 8:00 AM
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Company Update

VANCOUVER, BC / ACCESSWIRE / January 6, 2021 / Skeena Resources Limited (TSX:SKE)(OTCQX:SKREF) ("Skeena" or the "Company") is pleased to report additional diamond drill core results from the Phase 1 and Phase 2 combined campaigns of definition and exploration drilling at the Eskay Creek Project ("Eskay Creek" or the "Project") located in the Golden Triangle of British Columbia. The Phase 2 infill program, focused upon resource category conversions for the Pre-Feasibility Study ("PFS") on open-pit constrained resources, is on-going with six drill rigs currently active. Reference images are presented at the end of this release as well as on the Company's website.

Eskay Creek Infill Drilling Highlights

22 Zone

  • 3.05 g/t Au, 221 g/t Ag (6.00 g/t AuEq), over 26.28 m (SK-20-481)
  • 4.44 g/t Au, 228 g/t Ag (7.48 g/t AuEq), over 14.50 m (SK-20-500)
  • 12.94 g/t Au, 503 g/t Ag (19.65 g/t AuEq), over 9.87 m (SK-20-507)

21 B & C Zone

  • 3.65 g/t Au, 5 g/t Ag (3.71 g/t AuEq), over 25.71 m (SK-20-494)
  • 3.23 g/t Au, 9 g/t Ag (3.35 g/t AuEq), over 29.35 m (SK-20-483)
  • 2.82 g/t Au, 10 g/t Ag (2.95 g/t AuEq), over 31.10 m (SK-20-484)
  • 5.34 g/t Au, 7 g/t Ag (5.44 g/t AuEq), over 28.65 m (SK-20-486)

Gold Equivalent (AuEq) calculated via the formula: Au (g/t) + [Ag (g/t) / 75]. True widths range from 70-100% of reported core lengths. Apparent widths are reported for the 22 Zone due to the geometry of the mineralization and the orientation of the drill holes. Length weighted AuEq composites are 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. Metallurgical processing recoveries have not been applied to the AuEq calculation and are taken at 100%. Samples below detection limit were nulled to a value of zero.

Shallow High-Grade Mineralization Discovered in 22 Zone

Inferred mineralization reported in the Company's 2019 Mineral Resource Estimate for the southeastern portion of the 22 Zone was informed by widely spaced historical drill holes. The recent infill drilling program in the 22 Zone has discovered Au-Ag mineralization at surface within the resource reporting pit. The new discovery is highlighted by the 2020 Phase 1 intercept of 3.05 g/t Au, 221 g/t Ag (6.00 g/t AuEq), over 26.28 m which includes high-tenor sub-intervals grading 7.82 g/t Au, 724 g/t Ag (17.47 g/t AuEq) over 1.35 m and 3.18 g/t Au, 2,210 g/t Ag (32.65 g/t AuEq) over 1.50 m (SK-20-481), starting at 1.22 m from surface. This mineralization is corroborated up-dip by SK-20-437 and SK-20-438 which intersected 2.45 g/t AuEq over 21.00 m and 3.16 g/t AuEq over 13.00 m respectively. Refer to vertical section 930-22N below.

"This new discovery within the pit-constrained 22 Zone resource model was originally considered an area of unmineralized waste due to a lack of drilling and as such was not incorporated into Skeena's 2019 PEA," comments Paul Geddes, the Company's Vice President of Exploration and Resource Development. "The grade and location of these recent intersections are expected to translate into additional resources when the 2020 drilling data is incorporated into the new resource model during Q1 2021."

Preliminary Tom MacKay Exploration Identifies Footwall Replacement Mineralization

The Tom MacKay Zone is situated 2,500 m southwest of the main Eskay Creek deposits and represents a near surface, sparsely drilled historical Au-Ag occurrence hosted in footwall andesites, intermediate volcanics and the Even Lower Mudstone (ELM). The Company drilled a total of nine surface drill holes fanned from two drill pads in this area to confirm the historical data, gain geological understanding as well as test for additional mineralization.

This initial program of exploratory drill testing by Skeena has yielded discordant replacement style Au-Ag mineralization including 4.99 g/t Au, 5 g/t Ag (5.05 g/t AuEq), over 10.50 metres, including 24.20 g/t Au, <5 g/t Ag (24.20 g/t AuEq), over 1.50 metres (SK-20-466), 2.02 g/t Au, 14 g/t Ag (2.21 g/t AuEq), over 14.50 metres (SK-20-464) and 3.29 g/t Au, 9 g/t Ag (3.41 g/t AuEq), over 9.40 metres, including 14.10 g/t Au, 19 g/t Ag (14.35 g/t AuEq), over 1.40 metres (SK-20-433).

Exploration Update

The Company currently has six drill rigs operating at Eskay Creek finalizing the Phase II program of category conversion drilling. This program will be complete in mid-January 2021 at which point the drills will be re-assigned to a 5,000 m exploratory program testing targets in the near mine environment. All drilling from the Phase 2 program will be incorporated into the updated 2021 Mineral Resource Estimate.

About Skeena

Skeena Resources Limited is a junior mining company focused on developing the past-producing Eskay Creek gold-silver mine located in Tahltan Territory in the Golden Triangle of northwest British Columbia, Canada. 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 Prefeasibility. Skeena is also exploring the past-producing Snip gold mine.

On behalf of the Board of Directors of Skeena Resources Limited,

Walter Coles Jr.
President & CEO

Contact Information

Investor Inquiries: [email protected]
Office Phone: +1 604 684 8725
Company Website: www.skeenaresources.com

Qualified Persons

Exploration activities at the Eskay Creek Project are administered on site by the Company's Exploration Managers, Raegan Markel, 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 the exploration activities on its 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 Company's Qualified Person, Paul Geddes, P.Geo, Vice President Exploration and Resource Development.

Drill core samples are submitted to ALS Geochemistry's 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 1 kg is pulverized. Analysis for gold is by 50 g 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 100 ppm are re-analyzed using a 50 g fire assay fusion with gravimetric finish. Analysis for silver is by 50 g fire assay fusion with gravimetric finish with a lower limit of 5ppm and upper limit of 10,000 ppm. Samples with silver assays greater than 10,000 ppm are re-analyzed using a gravimetric silver concentrate method. A selected number of samples are also analyzed using a 48 multi-element 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 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, 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 the Toronto Stock 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 Length Weighted Drill Hole Gold and Silver Composites:

Hole-ID
From (m)
To (m)
Core Length (m)
Au (g/t)
Ag (g/t)
AuEq (g/t)
Zone
Phase
SK-20-430
156.03
158.00
1.97
1.75
5
1.82
21C
2
SK-20-431
 
 
 
 
 
ABANDONED
 
 
SK-20-432
60.48
67.00
6.52
1.59
5
1.66
TM
1
SK-20-432
141.00
150.00
9.00
1.40
12
1.56
TM
1
SK-20-432
173.70
176.00
2.30
0.84
50
1.51
TM
1
SK-20-433
10.00
15.50
5.50
1.04
5
1.10
TM
1
SK-20-433
74.10
83.50
9.40
3.29
9
3.41
TM
1
including
74.10
75.50
1.40
14.10
19
14.35
TM
1
SK-20-433
122.00
129.50
7.50
1.77
5
1.84
TM
1
SK-20-433
155.00
159.00
4.00
5.30
22
5.60
TM
1
including
155.00
156.58
1.58
11.60
21
11.88
TM
1
SK-20-433
186.00
187.50
1.50
1.33
15
1.53
TM
1
SK-20-433
216.00
219.50
3.50
1.06
29
1.44
TM
1
SK-20-433
245.00
249.00
4.00
0.68
26
1.03
TM
1
SK-20-433
272.50
275.00
2.50
0.76
29
1.14
TM
1
SK-20-434
2.00
12.00
10.00
0.95
5
1.02
TM
1
SK-20-434
15.00
16.50
1.50
18.95
5
19.02
TM
1
SK-20-434
64.25
65.50
1.25
1.67
5
1.74
TM
1
SK-20-434
128.00
136.50
8.50
2.11
6
2.20
TM
1
SK-20-434
155.00
159.10
4.10
1.02
8
1.12
TM
1
SK-20-434
164.00
171.50
7.50
1.39
6
1.47
TM
1
SK-20-434
177.50
185.00
7.50
3.40
7
3.49
TM
1
including
182.00
183.00
1.00
15.15
12
15.31
TM
1
SK-20-434
192.50
194.00
1.50
1.03
5
1.10
TM
1
SK-20-443
707.00
709.00
2.00
0.94
5
1.01
21C
1
SK-20-443
743.00
744.00
1.00
0.93
5
1.00
21C
1
SK-20-446
9.50
37.00
27.50
1.95
5
2.02
22
1
SK-20-449
294.00
295.43
1.43
3.41
5
3.48
21C
1
SK-20-449
337.00
338.50
1.50
5.11
7
5.20
21C
1
SK-20-449
352.61
354.00
1.39
2.10
5
2.17
21C
1
SK-20-449
356.96
377.00
20.04
1.09
6
1.17
21C
1
SK-20-449
449.73
467.50
17.77
1.68
14
1.86
21C
1
SK-20-449
486.50
488.00
1.50
1.22
5
1.29
21C
1
SK-20-449
509.00
518.50
9.50
2.24
8
2.35
21C
1
including
518.00
518.50
0.50
13.20
13
13.37
21C
1
SK-20-451
23.00
24.00
1.00
2.67
5
2.74
22
1
SK-20-451
30.50
33.50
3.00
1.91
11
2.05
22
1
SK-20-451
80.50
88.50
8.00
0.44
289
4.29
22
1
including
87.41
88.50
1.09
0.86
797
11.49
22
1
SK-20-451
91.24
123.50
32.26
1.02
6
1.10
22
1
SK-20-453
6.00
7.00
1.00
0.51
71
1.46
22
1
SK-20-453
46.00
101.50
55.50
1.15
43
1.72
22
1
SK-20-453
119.50
122.50
3.00
1.54
12
1.70
22
1
SK-20-453
125.50
128.50
3.00
2.03
10
2.16
22
1
SK-20-453
148.00
149.00
1.00
1.33
8
1.44
22
1
SK-20-457
 
 
 
 
 
NSA
22
1
SK-20-458
3.00
7.50
4.50
4.48
38
4.99
22
1
SK-20-458
33.00
42.00
9.00
1.82
209
4.60
22
1
including
37.50
39.00
1.50
5.71
978
18.75
22
1
SK-20-459
0.61
8.00
7.39
6.13
5
6.20
22
1
including
0.61
2.00
1.39
19.05
<5
19.05
22
1
SK-20-460
 
 
 
 
 
NSA
22
1
SK-20-461
 
 
 
 
 
NSA
22
1
SK-20-462
1.80
9.00
7.20
2.56
12
2.72
TM
1
SK-20-462
26.00
27.00
1.00
1.36
5
1.43
TM
1
SK-20-462
29.50
32.50
3.00
1.21
7
1.30
TM
1
SK-20-462
40.00
41.50
1.50
6.37
6
6.45
TM
1
SK-20-462
56.25
60.50
4.25
2.84
5
2.91
TM
1
SK-20-462
99.00
103.50
4.50
0.96
5
1.02
TM
1
SK-20-462
109.50
112.50
3.00
1.69
5
1.76
TM
1
SK-20-463
4.00
10.00
6.00
2.18
5
2.24
TM
1
SK-20-463
23.50
29.50
6.00
3.39
6
3.47
TM
1
SK-20-463
34.00
37.00
3.00
1.11
5
1.17
TM
1
SK-20-464
4.50
12.30
7.80
3.18
7
3.27
TM
1
SK-20-464
15.50
30.00
14.50
2.02
14
2.21
TM
1
SK-20-464
36.00
37.10
1.10
1.74
9
1.86
TM
1
SK-20-465
1.20
7.50
6.30
2.58
9
2.70
TM
1
SK-20-465
47.00
50.25
3.25
0.80
15
1.01
TM
1
SK-20-465
59.00
60.50
1.50
7.70
5
7.77
TM
1
SK-20-466
5.00
15.50
10.50
4.99
5
5.05
TM
1
including
6.50
8.00
1.50
24.20
<5
24.20
TM
1
SK-20-466
29.75
32.00
2.25
1.53
11
1.68
TM
1
SK-20-467
3.00
5.50
2.50
2.06
19
2.31
TM
1
SK-20-467
12.00
19.50
7.50
2.02
5
2.09
TM
1
SK-20-467
24.00
27.00
3.00
1.10
5
1.17
TM
1
SK-20-467
62.50
64.50
2.00
1.01
6
1.09
TM
1
SK-20-467
77.50
83.50
6.00
1.90
10
2.02
TM
1
SK-20-467
95.00
97.46
2.46
1.84
10
1.98
TM
1
SK-20-469
 
 
 
 
 
NSA
22
1
SK-20-470
17.50
19.00
1.50
2.52
51
3.20
22
2
SK-20-470
56.50
58.00
1.50
1.07
17
1.30
22
2
SK-20-470
60.50
70.00
9.50
2.57
33
3.00
22
2
SK-20-470
85.95
100.00
14.05
1.94
70
2.88
22
2
SK-20-471
11.00
15.50
4.50
0.81
23
1.12
22
2
SK-20-471
72.50
79.00
6.50
0.71
43
1.28
22
2
SK-20-471
84.50
92.00
7.50
1.36
98
2.67
22
2
including
87.50
88.50
1.00
2.82
611
10.97
22
2
SK-20-471
95.00
105.00
10.00
1.02
16
1.24
22
2
SK-20-472
17.00
21.50
4.50
1.20
26
1.55
22
2
SK-20-472
27.50
29.00
1.50
0.11
69
1.03
22
2
SK-20-472
35.00
36.50
1.50
1.02
5
1.09
22
2
SK-20-472
83.00
88.00
5.00
1.38
5
1.44
22
2
SK-20-473
6.79
13.00
6.21
1.35
44
1.93
22
2
SK-20-473
19.00
20.50
1.50
0.58
117
2.14
22
2
SK-20-473
55.00
60.67
5.67
0.41
51
1.09
22
2
SK-20-474
78.50
80.92
2.42
0.51
44
1.10
22
2
SK-20-474
108.50
116.00
7.50
0.74
22
1.03
22
2
SK-20-474
119.00
126.50
7.50
1.01
10
1.14
22
2
SK-20-474
128.60
140.00
11.40
0.53
200
3.19
22
2
including
132.50
134.00
1.50
0.60
719
10.19
22
2
SK-20-475
37.00
56.50
19.50
1.89
14
2.07
22
2
SK-20-475
59.50
71.00
11.50
3.78
7
3.87
22
2
including
61.00
62.50
1.50
11.75
5
11.82
22
2
SK-20-475
78.50
99.50
21.00
1.62
18
1.86
22
2
SK-20-475
113.00
123.50
10.50
1.60
38
2.10
22
2
including
118.75
119.39
0.64
11.10
204
13.82
22
2
SK-20-475
131.00
145.00
14.00
1.79
134
3.57
22
2
including
136.25
136.79
0.54
7.29
607
15.38
22
2
and
136.79
137.51
0.72
5.90
635
14.37
22
2
SK-20-477
30.38
32.31
1.93
1.27
80
2.34
22
2
SK-20-478
20.50
22.00
1.50
1.14
5
1.21
22
2
SK-20-480
2.50
31.00
28.50
0.99
61
1.80
22
2
including
10.80
12.00
1.20
2.74
639
11.26
22
2
SK-20-480
51.00
53.20
2.20
1.41
10
1.53
22
2
SK-20-480
76.43
80.50
4.07
1.78
13
1.96
22
2
SK-20-480
83.80
91.00
7.20
1.22
31
1.63
22
2
SK-20-480
113.50
115.00
1.50
1.21
12
1.37
22
2
SK-20-481
1.22
27.50
26.28
3.05
221
6.00
22
2
including
8.50
9.50
1.00
12.90
27
13.26
22
2
and
16.65
18.00
1.35
7.82
724
17.47
22
2
and
18.00
19.50
1.50
3.18
2,210
32.65
22
2
SK-20-481
38.00
40.00
2.00
0.19
81
1.26
22
2
SK-20-482
227.50
242.50
15.00
2.09
7
2.18
21C
2
SK-20-483
206.38
235.73
29.35
3.23
9
3.35
21C
2
including
226.00
227.00
1.00
19.40
19
19.65
21C
2
SK-20-484
202.45
233.55
31.10
2.82
10
2.95
21C
1
SK-20-484
218.50
219.50
1.00
8.69
155
10.76
21C
1
SK-20-485
168.83
174.50
5.67
1.28
16
1.49
21C
2
SK-20-485
212.00
236.50
24.50
2.84
26
3.20
21C
2
SK-20-486
200.85
229.50
28.65
5.34
7
5.44
21C
1
including
203.00
204.35
1.35
32.60
<5
32.60
21C
1
and
204.35
205.73
1.38
23.40
5
23.47
21C
1
and
222.00
223.50
1.50
11.45
19
11.70
21C
1
SK-20-487
152.00
169.45
17.45
2.01
29
2.40
21B
2
SK-20-487
174.42
188.00
13.58
1.58
5
1.65
21B
2
SK-20-488
146.00
166.00
20.00
2.98
40
3.51
21B
2
SK-20-488
179.00
180.71
1.71
5.40
5
5.46
21B
2
SK-20-489
144.50
163.00
18.50
2.31
31
2.72
21B
2
SK-20-489
170.50
183.00
12.50
2.63
7
2.72
21B
2
SK-20-489
186.00
188.25
2.25
0.67
35
1.13
21B
2
SK-20-490
149.50
162.97
13.47
2.15
12
2.31
21B
2
including
151.50
152.15
0.65
11.45
29
11.84
21B
2
SK-20-490
166.80
176.00
9.20
1.68
6
1.76
21B
2
SK-20-491
136.25
138.81
2.56
10.88
156
12.95
21B
2
including
138.00
138.81
0.81
23.70
291
27.58
21B
2
SK-20-491
142.88
163.55
20.67
3.66
35
4.13
21B
2
SK-20-491
172.50
177.00
4.50
2.43
42
2.99
21B
2
SK-20-491
181.50
184.50
3.00
1.26
5
1.32
21B
2
SK-20-494
134.00
135.17
1.17
0.02
96
1.30
21B
2
SK-20-494
143.12
144.80
1.68
0.75
38
1.26
21B
2
SK-20-494
151.00
152.76
1.76
11.25
38
11.76
21B
2
including
152.00
152.76
0.76
22.00
65
22.87
21B
2
SK-20-494
155.40
181.11
25.71
3.65
5
3.71
21B
2
SK-20-494
185.50
190.00
4.50
1.39
5
1.46
21B
2
SK-20-497
141.89
145.40
3.51
1.41
18
1.66
21C
1
SK-20-497
176.50
183.50
7.00
1.36
6
1.44
21C
1
SK-20-498
9.50
15.00
5.50
0.26
166
2.47
22
2
SK-20-498
18.50
24.50
6.00
4.78
96
6.06
22
2
SK-20-498
35.75
46.00
10.25
0.54
52
1.23
22
2
SK-20-499
20.00
23.00
3.00
0.73
278
4.43
22
2
SK-20-500
146.05
160.55
14.50
4.44
228
7.48
22
2
including
147.00
147.60
0.60
11.20
1,115
26.07
22
2
and
147.60
148.64
1.04
26.00
1,400
44.67
22
2
and
148.64
149.50
0.86
8.41
509
15.20
22
2
SK-20-500
222.50
231.50
9.00
2.66
6
2.74
22
2
SK-20-501
104.00
107.00
3.00
1.02
13
1.19
22
1
SK-20-501
151.95
159.60
7.65
3.14
263
6.64
22
1
including
151.95
153.00
1.05
13.35
454
19.40
22
1
and
153.00
154.00
1.00
3.72
1,215
19.92
22
1
SK-20-501
167.00
170.00
3.00
1.40
5
1.47
22
1
SK-20-502
108.00
109.00
1.00
1.04
19
1.29
22
1
SK-20-502
159.59
175.00
15.41
0.84
26
1.20
22
1
SK-20-503
145.95
165.50
19.55
1.45
31
1.87
22
2
SK-20-503
173.00
175.00
2.00
1.28
5
1.35
22
2
SK-20-504
 
 
 
 
 
ABANDONED
22
2
SK-20-505
143.62
147.58
3.96
1.59
99
2.92
22
2
SK-20-505
155.53
162.00
6.47
1.08
7
1.17
22
2
SK-20-505
167.00
170.00
3.00
1.23
5
1.29
22
2
SK-20-506
137.58
146.35
8.77
2.31
595
10.25
22
2
including
142.84
144.08
1.24
5.04
3,350
49.71
22
2
and
144.08
145.10
1.02
1.73
878
13.44
22
2
SK-20-506
150.00
162.50
12.50
1.05
6
1.12
22
2
SK-20-506
168.50
174.05
5.55
1.16
5
1.23
22
2
SK-20-507
93.66
103.55
9.89
1.82
56
2.57
22
2
including
97.22
98.00
0.78
8.48
297
12.44
22
2
SK-20-507
145.13
155.00
9.87
12.94
503
19.65
22
2
including
146.60
148.00
1.40
65.50
2,680
101.23
22
2
and
148.00
149.00
1.00
28.30
1,090
42.83
22
2
SK-20-507
188.00
192.50
4.50
0.90
42
1.47
22
2
SK-20-507
200.00
201.50
1.50
0.05
84
1.17
22
2
SK-20-507
222.50
230.00
7.50
3.66
8
3.77
22
2
including
228.00
229.00
1.00
11.60
11
11.75
22
2


Gold Equivalent (AuEq) calculated via the formula: Au (g/t) + [Ag (g/t) / 75]. True widths range from 70-100% of reported core lengths. Apparent widths are reported for the 22 Zone due to the geometry of the mineralization and the orientation of the drill holes. Length weighted AuEq composites are 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. Metallurgical processing recoveries have not been applied to the AuEq calculation and are taken at 100%. Samples below detection limit were nulled to a
value of zero. NSA - No Significant Assays. TM - Tom MacKay.

Table 2: Mine Grid Drill Hole Locations and Orientations:

Hole-ID
Easting (m)
Northing (m)
Elevation (m)
Length (m)
Azimuth (°)
Dip (°)
SK-20-430
9,754.1
10,252.5
1,015.2
158.0
100.0
-65.0
SK-20-431
9,443.4
10,637.7
883.1
53.0
117.6
-44.7
SK-20-432
9,180.2
6,612.9
1,139.5
176.0
269.9
-58.8
SK-20-433
9,180.2
6,612.9
1,139.4
275.0
330.0
-60.0
SK-20-434
9,180.2
6,612.9
1,139.3
260.0
300.0
-67.0
SK-20-443
9,443.4
10,637.7
882.8
779.0
81.2
-50.2
SK-20-446
9,530.1
8,961.0
1,144.3
80.0
281.3
-50.0
SK-20-449
9,756.5
11,068.3
821.1
674.0
89.1
-74.2
SK-20-451
9,632.6
8,796.4
1,089.6
125.0
250.1
-53.9
SK-20-453
9,634.4
8,850.4
1,102.3
150.0
245.1
-49.0
SK-20-457
9,629.9
9,083.9
1,132.2
15.0
232.1
-46.9
SK-20-458
9,631.0
9,066.8
1,127.4
45.0
225.0
-45.0
SK-20-459
9,593.5
9,099.2
1,124.3
13.0
50.0
-70.1
SK-20-460
9,575.0
9,098.8
1,129.6
30.0
270.0
-50.1
SK-20-461
9,580.9
9,084.3
1,128.4
30.0
270.0
-50.2
SK-20-462
9,110.8
6,611.7
1,106.9
131.0
23.5
-45.8
SK-20-463
9,110.8
6,611.7
1,106.9
101.0
110.2
-45.4
SK-20-464
9,110.8
6,611.7
1,106.4
116.0
65.8
-45.2
SK-20-465
9,110.8
6,611.7
1,108.1
78.0
200.5
-45.7
SK-20-466
9,110.8
6,611.7
1,108.1
80.0
149.8
-46.0
SK-20-467
9,110.8
6,611.7
1,106.3
110.0
150.0
-89.4
SK-20-469
9,629.9
9,083.9
1,132.1
50.0
231.9
-47.0
SK-20-470
9,634.4
8,850.4
1,102.4
100.0
236.2
-56.9
SK-20-471
9,634.4
8,850.4
1,102.6
105.0
267.0
-64.0
SK-20-472
9,634.4
8,850.4
1,102.2
88.0
285.2
-61.0
SK-20-473
9,632.6
8,796.4
1,089.6
145.0
64.2
-86.1
SK-20-474
9,632.6
8,796.4
1,089.9
140.0
250.1
-76.1
SK-20-475
9,632.6
8,796.4
1,089.7
145.0
248.0
-68.1
SK-20-477
9,648.6
8,743.5
1,080.2
120.0
124.9
-74.1
SK-20-478
9,648.6
8,743.5
1,081.9
110.0
177.0
-69.0
SK-20-480
9,632.8
8,768.6
1,084.0
115.0
150.1
-80.0
SK-20-481
9,632.8
8,768.6
1,084.4
107.0
320.1
-86.1
SK-20-482
9,838.5
10,514.2
993.9
248.0
202.0
-79.9
SK-20-483
9,838.5
10,514.2
993.9
242.0
202.2
-82.9
SK-20-484
9,838.5
10,514.2
994.7
238.0
202.3
-85.9
SK-20-485
9,838.5
10,514.2
994.3
245.0
257.9
-85.2
SK-20-486
9,838.5
10,514.2
997.5
240.0
257.9
-88.1
SK-20-487
9,877.6
10,535.5
986.7
195.0
43.1
-81.9
SK-20-488
9,877.6
10,535.5
985.1
195.0
61.4
-80.4
SK-20-489
9,877.6
10,535.5
985.6
195.0
80.3
-82.9
SK-20-490
9,877.6
10,535.5
985.1
191.0
80.0
-88.1
SK-20-491
9,877.6
10,535.5
985.6
205.0
85.0
-74.0
SK-20-494
9,877.6
10,535.5
985.6
200.0
134.7
-80.1
SK-20-497
9,757.3
10,703.6
910.6
195.0
78.9
-63.1
SK-20-498
9,636.1
8,835.1
1,100.2
85.0
230.1
-56.1
SK-20-499
9,636.1
8,835.1
1,100.3
80.0
230.2
-72.1
SK-20-500
9,738.1
10,633.7
923.9
237.0
2.2
-85.2
SK-20-501
9,738.1
10,633.7
923.8
175.0
1.9
-80.0
SK-20-502
9,738.1
10,633.7
923.4
175.0
2.1
-75.8
SK-20-503
9,738.1
10,633.7
922.6
175.0
28.7
-80.7
SK-20-504
9,738.1
10,633.7
925.2
18.5
50.1
-78.8
SK-20-505
9,738.1
10,633.7
922.9
170.0
50.0
-85.1
SK-20-506
9,738.1
10,633.7
922.7
175.0
74.1
-81.0
SK-20-507
9,738.1
10,633.7
923.0
233.0
248.3
-89.9


SOURCE: Skeena Resources Limited

Skeena Resources Limited
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