Skeena Resources trumps again with top results!
How Skeena Resources Limited (ISIN: CA83056P8064 / TSX: SKE) announced, the most recent definition and exploration wells of the ‘Phase 1’ drilling program on its ‘Eskay Creek’ project in the ‘Golden Triangle’ of British Columbia not only landed excellent hits again, but also landed the ‘Water Tower’ Zone with excellent grades extended! In addition, the ‘infill’ wells within the ’21C’ zone delivered excellent grades and thicknesses over long stretches.
With the expansion of the ‘Water Tower’ zone, it quickly becomes clear that there is still significant potential for significant resource expansion in this area. Grades of 8.01 g / t Au (gold) and 36 g / t Ag (silver) for 8.49 g / t AuEq (Gold equivalent) over 14.40 meters, located within a larger mineralized “envelope” grading 4.58 g / t Au and 29 g / t Ag (4.96 g / t AuEq) are over 27.60 m, clearly exceeded expectations.
This new intersection represents a 25 meter up dip extension of historic underground hole 5925 which averaged 4.16 g / t AuEq over 7.25 meters and 2.81 g / t AuEq over 8.78 meters average length.
Source: Skeena Resources
The completed ‘Phase 1 Infill’ drilling program drilled in the ’21C’ Zone has confirmed the estimated Inferred Resource. However, it should be noted that this resource relies solely on wells drilled prior to the acquisition by Skeena Resources. This means that the ’21C’ still has significant resource potential.
Hole 6462, previously drilled underground, which is 2.96 g / t AuEq intersected over 17.82 m, correlated with the newly drilled ‘Infill‘-Drill holes SK-20-280, SK-20-283 and SK-20-284, in which grades of 69 g / t Au and 10 g / t Ag for 2.82 g / t AuEq over 14m, 1.98 g / t Au, 16 g / t Ag for 2.19 g / t AuEq over 15.75 m and 2.71 g / t Au and 5 g / t Ag for 2.78 g / t AuEq over 19.50 m were cut.
Hole SK-20-282 intersected even better grades averaging 6.38 g / t Au and 7 g / t Ag (6.47 g / t AuEq) over 19 m !!!
Source: Skeena Resources
The deeper zone ’21C’, which according to current economic calculations can be mined in the open pit, is located in the stratigraphic ‘footwall rhyolite’ and has a slightly lower gold-silver content than the mineralization historically in the ‘Contact Mudstones ‘has been dismantled. While this type of mineralization was not historically significant, it has now made significant contributions to the economics of the mine plan!
Source: Skeena Resources
These excellent results make you want more, which is why Skeena Resources is significantly increasing the pace of exploration! While the company has currently started drilling the ‘Phase 2’ drilling program with six drilling rigs, another five more rigs will be relocated to the property in the coming weeks. With that, Skeena should be able to explore all of the prioritized goals by the end of the year!
After completion of this drilling program, sufficient results and knowledge should be available to upgrade and enlarge the existing resources and to be able to prepare a pre-feasibility study for the open pit resources from this new basis. It is now getting really exciting at Skeena Resources and the shareholders, who can now expect price-sensitive news almost every day !!
Discovery Metals – Depotzone continues to grow!
And while we’re at it, let’s jump over from the ‘Golden Triangle’ in Canada to Mexico! Because this is where the Mexican TOP Explorer operates Discovery Metals Corp. (ISIN: CA25471U1003 / TSX-V: DSV) his high grade silver project ‘Cordero’! This project doesn’t seem to know any resource limits either!
If the open pit mine along the high-grade vein systems, which was already known as a ‘giant pit’, was a sensation, which is made up of the many high-grade veins that have often been discovered with more than 1 kg of silver per ton of ore, the new drilling results also confirm that such super-discoveries is far from over!
The contents of, for example an average of 1,150 grams per tonne of silver equivalent (g / t AgEq), consisting of 412 g / t silver, 0.42 g / t gold, 8.0% lead and 10.0% zinc, over 3.4 m from just 145.6 m depth, within a 5 m section with average 962 g / t AgEq, consisting of 331 g / t silver, 0.35 g / t gold, 6.3% lead, 9.2% zinc, and 1,207 g / t AgEq over 2 m from a depth of 224.8 m consisting of 532 g / t silver, 0.38 g / t gold, 8.8% lead and 8.1% zinc, within a 49.7 m interval averaging 146 g / t AgEq consisting of 38 g / t silver, 0.09 g / t gold, 0.6% lead and 1.9% zinc are just the beginning of a series of drilling successes that is second to none!
Source: Discovery Metals
The mineralized corridor of ‘Todos Santos’ has meanwhile grown to a length of around 1.4 km, although an end to the high-grade mineralization is not yet in sight!
Source: Discovery Metals
These first-class, high-grade results provide the team of geologists with clear evidence after comparison with historical data that the highly mineralized trend corridor of ‘Todos Santos’ extends far beyond the limits of the predicted mine boundary.
In addition, the geologists have already identified new very silver-bearing spots along the fold, which could soon contribute to a positive flow of news! However, a large number of outstanding drilling results can be expected beforehand. Because 22 drill cores are still being evaluated!
But even after that, the flood of drilling results will not abate, as only approximately 65% of the bores of the 84 boreholes 50,000 m drilling program with around 32,400 drilling meters were drilled. With this huge drill program, it is advancing into areas that have never been explored before. In view of the sensational successes to date, the management plans to add another to the four active drilling rigs.
This dual target drill program is designed to capture the mineralized volumes between the mineralized corridors to the east and northeast as the primary target for future mining and test the high grade venous systems for grade, width and continuity on the property. If these goals are met, then one can count on a world class resource.
It is completely understandable that President and CEO Taj Singh is also very satisfied with the results and the associated prospects. The latest high-grade drilling results show that the expansion of the Todos Santos vein system beyond the proposed pit boundary from the 2018 pre-economic study continues unabated. A clear decision for the board of directors to investigate this vein potential with further drilling so that the successful chapter ‘Todos Santos’ can go down as another highlight in the history of ‘Cordero’!
With the 22 drilling results still outstanding, the intensification of the drilling campaign and the continuation of the obvious run of success on ‘Todos Santos’, not only will numerous news items be excited in the coming months, but the results will add a lot of company value! So that we can move this share even more clearly into the focus of investors.
Best regards and maximum success with your investments!
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