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Skeena Announces Maiden Resource for Snip Gold Project
VANCOUVER, BC / ACCESSWIRE / July 21, 2020 / Skeena Resources Limited (TSX.V: SKE )(OTCQX: S...
About this update from Skeena Resources Limited
[{"type":"text","content":"Skeena Announces Maiden Resource for Snip Gold ProjectVANCOUVER, BC / ACCESSWIRE / July 21, 2020 / Skeena Resources Limited (TSX.V:SKE)(OTCQX:SKREF) (\"Skeena\" or the \"Company\") is pleased to announce an underground constrained Mineral Resource Estimate (\"MRE\"), for the Snip gold project (\"Snip\"), located in the Golden Triangle of northwest British Columbia, which has been reviewed and validated by SRK Consulting (Canada) Inc. (\"SRK\"). This MRE was derived from a database containing 3,697 surface and underground diamond drill holes totalling 309,327 metres of which 3,112 drill holes and 14,113 composites of 1.5 metres in length were used directly in the estimate. The MRE reports resources amenable to underground mining methods. The effective date of this MRE is July 21, 2020 and a technical report will be filed on the Company's website and SEDAR within 45 days of this disclosure.Underground Resource EstimateThe underground constrained Indicated resources include 244,000 ounces of gold hosted within 539,000 tonnes at an average gold grade of 14.0 g/t Au. Resources within the Inferred category include 402,000 ounces of gold hosted within 942,000 tonnes at an average gold grade of 13.3 g/t Au (Table 1). In the determination of reasonable prospects for economic extraction, long hole stoping is contemplated. Sensitivities to the gold cut-off are presented in Table 2.Table 1: Snip Indicated and Inferred underground resources reported undiluted at a 2.5 g/t Au cut-off grade within stope optimized mining shapes. DomainTonnesContained GradeContained Metal (000)Au (g/t)Au (000 oz)Indicated Mineral Resources Main - V16512.868 Main - S33715.0163 Twin West3710.412Total Indicated 53914.0244Inferred Mineral Resources Main - V28713.1121 Main - S59913.4258 Twin West5612.423Total Inferred 94213.3402 \"Our efforts in the coming months will focus on expanding these now well-defined resources with expansion drilling in the newly evolving 200 Footwall Corridor as well as other near-mine targets,\" notes Paul Geddes P.Geo, Vice President of Exploration & Resource Development. \"In parallel with SRK, Kathi Dilworth, Skeena's Chief Resource Geologist, has developed a very robust and defendable resource model that will formulate the basis of future economic studies.\"Walter Coles Jr., President & CEO, goes on to add, \"We are very excite...