Mining News: Northern Neighbors: Early maiden resource reveals part of Spectrum

Skeena Resources Ltd. April 25 reported a maiden resource estimate for Spectrum and plans for the 2016 field season at the gold-copper project located in the Golden Triangle of northwestern British Columbia. The Central Zone of the Spectrum deposit hosts 8.95 million metric tons of indicated resource averaging 1.04 grams per metric ton (290,000 ounces) gold, 6.58 g/t (1.82 million oz.) silver and 0.11 percent (20.835 million pounds) copper. Additionally, the deposit hosts 22.63 million metric tons of inferred resource averaging 1.03 g/t (750,000 oz.) gold, 3.85 g/t (2.8 million oz.) silver and 0.11 (54.89 million lbs.) copper. Drilling to date shows that the Central zone extends from surface to a depth of 400 meters and extends some 1,100 meters north-south and 380 meters east-west. “The Spectrum resource should be considered preliminary as it is still open to expansion to the west, north and south where porphyry gold-copper mineralization was recognized late in the 2015 field season. In addition, copper and silver assays are lacking for many historic holes,” said Skeena Chairman Ron Netolitzky. “We consider it somewhat premature to be issuing a resource estimate when the deposit has not been fully drilled off. The focus for this season’s work program will be to further expand the gold-copper resource with wide-spaced drilling, and to begin to define resources on other high-priority gold and gold-copper targets at Spectrum that have had little or no drilling to date.” A drill program has been outlined to define the limits of the deposit to the north, south and west. The entire target zone also will be investigated in 2016 by an induced polarization geophysical survey, as soon as field conditions permit. Drilling of the porphyry-style gold-copper mineralization will be wider spaced and less detailed than previous drilling directed at the narrow, high-grade gold zones. However, definition drilling along the margins of the Central zone and future in-fill drilling is still expected to capture more of the high-grade structures. This year’s proposed C$4 million program includes an initial ground investigation program, overlapping with and followed by 8,000 to 10,000 meters of drilling. Significant efforts will be made to trench and drill targets away from the Central zone. To date, only 19 out of 165 holes completed at Spectrum have been drilled outside the Central zone. Several targets, that are ready for drilling, require only limited refinement through prospecting, detailed mapping, geophysics and trenching.

- Shane Lasley