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Skeena Resources 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) ("Skeena" or the "Company") is pleased to announce an updated Mine
About this update from Skeena Resources Limited
[{"type":"text","content":" VANCOUVER, 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 category An increase of 579,000 Au ounces in the Indicated Resource, representing a growth of 237% since the 2020 MRE 2021 and 2022 drilling programs heightened confidence of historical drilling data and improved certainty in continuity of the ore body Metallurgical 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 Grade Category Domain Tonnes(‘000) Contained Grade Au (g/t) Contained OuncesAu (‘000) Indicated Main - V 850 9.59 262 Main - S 1,718 9.28 513 Twin West 171 8.69 48 Total Indicated 2,739 9.35 823 Inferred Main - V 115 7.38 27 Main - S 323 6.22 65 Twin West 61 11.02 22 Total Inferred 499 7.10 114 Table 2: 2020 vs 2023 Resource Comparison 2023 Snip Resource Category Tonnes (000) Contained Grade Au (g/t) Contained Ounces Au (000) Total Indicated 2,739 9.35 823 Total Inferred 4...