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Skeena Increases Indicated Resource at Snip to 823,000 Gold Ounces Representing a 237% Increase
VANCOUVER, BC / ACCESSWIRE / September 5, 2023 / Skeena Resources Limited (TSX: SKE , NYSE: SKE ...
About this update from Skeena Resources Limited
[{"type":"text","content":"Skeena Increases Indicated Resource at Snip to 823,000 Gold Ounces Representing a 237% IncreaseVANCOUVER, BC / ACCESSWIRE / September 5, 2023 / Skeena Resources Limited (TSX:SKE, NYSE:SKE) (\"Skeena\" or the \"Company\") is pleased to announce an updated Mineral Resource Estimate (\"MRE\") for the 100% owned Snip Gold Project (\"Snip\" or the \"Project\") located in the Golden Triangle of British Columbia. Effective September 5, 2023, the updated MRE incorporates an additional 307 drill holes totaling 46,268 metres, enhancements to the geological interpretation, resource estimation methods, long hole mining method parameters, and updated metallurgical process recoveries.2023 Snip MRE Highlights:Updated MRE of 823,000 ounces grading 9.35 g/t Au in the Indicated category and 114,000 ounces grading 7.10 g/t Au in the Inferred categoryAn increase of 579,000 Au ounces in the Indicated Resource, representing a growth of 237% since the 2020 MRE2021 and 2022 drilling programs heightened confidence of historical drilling data and improved certainty in continuity of the ore bodyMetallurgical recovery increased to 96% from 90%Randy Reichert, Skeena's President & CEO commented \"With the successful conversion of over 570,000 gold ounces to the Indicated category, we are very pleased with the updated Mineral Resource Estimate for Snip. This Resource will form the basis of a detailed engineering study with project economics, which we anticipate being released in H1 2024. The study will demonstrate the potential benefits of adding Snip mineralization to the Eskay Creek Project as a satellite operation, likely including an increased mine life and improved concentrate payabilities at Eskay Creek. We look forward to continuing to unlock value for all stakeholders as we advance the Project.\"Table 1: 2023 Indicated and Inferred Underground Resource Reported in Veins Contained Within Long Hole Stope Optimized Shapes Created at a 2.5 g/t Au Cut-off GradeCategoryDomainTonnes(‘000)Contained Grade Au (g/t)Contained OuncesAu (‘000)IndicatedMain - V8509.59262Main - S1,7189.28513Twin West1718.6948Total Indicated2,7399.35823InferredMain - V1157.3827Main - S3236.2265Twin West6111.0222Total Inferred4997.10114Table 2: 2020 vs 2023 Resource Comparison2023 Snip Resource CategoryTonnes(000)Contained GradeAu (g/t)Contained OuncesAu (000)Total In...