Mining News: Northern Neighbors: High-grade gold spurs further drilling at Snip

Skeena Resources Ltd. Oct. 3 posted assay results from six holes drilled at the past-producing Snip high-grade gold project in the Golden Triangle of northwestern British Columbia. Highlights include 4.7 meters of 16.01 grams per metric ton gold, including 1.65 meters of 37.7 g/t gold in hole S-16-11. This hole, along with S-16-12, targeted an area below the Twin West underground workings, where limited historic production totaled about 10,000 metric tons at an average grade of 18.8 g/t gold. Intercepts on the new holes indicate continuity with several historical intersections including 57.3 g/t gold over 1.3 meters, 34.7 g/t gold over 3.7 meters and 34.8 g/t gold over 2.1 meters. “Given the strong initial drill results from Snip, the board has decided to extend the current 6,000-meter program,” said Skeena CEO Walter Coles, Jr. “Planning is under way for additional holes. We expect to complete the C$2 million spending commitment, which is the primary requirement to earn 100 percent of the property from Barrick Gold by the end of October. Once we transfer title and gain access to the underground workings, the drilling will shift to underground, which will enable us to delineate the vein structures in a much more efficient manner.”

-Shane Lasley