Mining News: Northern Neighbors: Skeena expands porphyry part of Spectrum

Skeena Resources Ltd. Oct. 26 reported assay results for nine holes of its 61-hole drill program at the Spectrum gold project in the Golden Triangle of northwestern British Columbia. Hole S15-049, drilled towards the south end of the Central Zone, cut four intervals with greater than 5.0 g/t gold between 197 and 232 meters. The best intercept of hole 49 was 14 meters grading 7.82 g/t gold. Hole S15-048, drilled above S15-049 on the same section, was abandoned due to drilling problems and returned no significant values. Assays are pending for three holes drilled under hole S15-049. Hole S15-046, drilled in the middle part of the Central Zone, cut four meters grading 16.97 g/t gold. Hole S15-044, drilled in the west-central portion of the Central Zone, cut two broad intervals of porphyry gold-copper mineralization: 172 meters grading 0.60 g/t gold and 0.14 percent copper beginning at a depth of six meters, and a deeper interval of 47.73 meters grading 0.49 g/t gold and 0.13 percent. This hole was drilled above and to the west of hole S15-036, which cut 147.5 meters grading 0.42 g/t gold and 0.08 percent copper. The results from hole S15-044 suggest that the tenor of porphyry mineralization in this area is improving to the west. Based on 2015 and historical drilling, the porphyry-style mineralization has dimensions of roughly 600 meters north-south, 100 to 150 meters in width and 200 to 250 meters in depth. Skeena President and CEO Walter Coles said, “This porphyry-style mineralization partially overlaps with the high-grade structures and is certainly open to the west, at depth, and perhaps on strike, too.” The 2015 drill program included 17,357 meters of drilling in 61 holes. Assays for the remaining 18 holes are due to be reported over the next four to six weeks. Skeena remains on track to publish an NI 43-101-compliant resource estimate for the Spectrum in the first quarter of 2016. In addition, Skeena will publish an updated NI 43-101-compliant resource estimate for the adjacent GJ property in December, which will include drilling completed by Teck Resources Ltd. from 2010 through 2014.

- Shane Lasley