By Cory
Skeena Initiates Phase II Underground Drilling at Snip
Here is the latest news form Skeena Resources. The Phase 1 drill program hit some very good grade and widths and now they are following up with an 11,000 meter program that is fully funded. This drilling will be a blend of further delineating known mineralization zones and exploration drilling. Both are important but the exploration drilling could be the big market mover.
I will be chatting with the President and CEO Walter Coles later this week. If you have any questions please comment or email me directly – Fleck@kereport.com.
Click here to visit the Skeena website.
…Here’s the news…
Vancouver, BC (April 3, 2018) Skeena Resources Limited (TSX.V: SKE, OTCQX: SKREF) (“Skeena” or the “Company”) is pleased to announce the commencement of underground drilling at its 100% owned Snip Project located in the Golden Triangle of British Columbia. The budgeted Phase II drill program totalling 11,000 metres is being performed from the existing underground infrastructure utilizing two drill rigs. Building upon the data gathered from the recently completed Phase I campaign, the 2018 program is designed to further delineate areas of known mineralization with low drill density and to expand newly modelled zones via widely spaced exploratory drill step outs. Reference mine sections are presented at the end of this release as well as on the Company’s website.
200 Footwall
Situated 200 metres below the Twin Zone which produced 709,601 ounces averaging 28.95 g/t Au, the newly interpreted 200 Footwall is a parallel structure geologically and structurally analogous to the mineralization hosted in the Twin Zone (Figure 1). The 200 Footwall received limited underground drilling from previous operators and was tested by 2016 Skeena drill hole S16-006 which intersected 16.24 g/t Au over 13.50 metres in a previously undrilled area (Figure 2). The lack of drilling and geological similarities to the Twin Zone make the 200 Footwall a substantial exploration target and a large portion of the 2018 program is designed to expand upon this newly modelled and largely untested area.
Eastern Twin Zone
Along its strike extension beyond the eastern portion of the Snip Mine, the Eastern Twin Zone was less densely drill defined by the former operators and never developed. During the 2017 Phase I program, Skeena targeted this area and intersected 91.56 g/t Au over 3.82 metres in UG17-062 at a vertical depth of 50 metres below surface. The depth potential of the Eastern Twin Zone was also tested by drill hole UG17-035 which intersected two broad intervals grading 19.26 g/t Au over 11.85 metres followed by 11.21 g/t Au over 5.95 metres at a vertical depth of 370 metres below surface (Figure 3). As the Eastern Twin Zone remains open for expansion down plunge below these new intersections, 2018 drilling on the Eastern Twin Zone will focus on infill drilling as well as testing depth extensions.
412 Corridor
Mineralization in the 412 Corridor is characterized by a network of discrete, structurally controlled veins geologically akin to the historically mined 130 and 150 veins. Together, these two mineralized zones accounted for 23% of historical gold production at Snip, …read more
Source:: The Korelin Economics Report
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