Eskay Mining drills near-surface VMS mineralization in BC

Eskay Mining (TSXV: ESK) has reported assay results for drill hole TV20-35, completed at the TV target within the Corey area in B.C.’s Golden Triangle, which hit 11 metres of volcanogenic massive sulphide (VMS) mineralization, grading 210 grams silver per tonne and 1.23 grams gold per tonne (4.11 grams gold-equivalent per tonne), starting at 194 metres. The section includes higher-grade intervals, such as 1 metre of 182 grams silver and 5.46 grams gold (7.99 grams gold-equivalent).

Massive sulphide drill core. Credit: Eskay Mining

The results appear to complement a recent geophysical survey, which defined several near-surface conductive targets within a 2-km corridor, centred on the TV and Jeff targets.

Eskay Mining’s grounds are to the south of, and contiguous with, Skeena Resources’ (TSX: SKE; US-OTC: SKREF) Eskay Creek project. Based on anomalous pathfinder element (arsenic, mercury, antimony, among others) values, Eskay has drawn parallels between this system and Skeena’s Eskay Creek deposit, 13 km to the north of TV. The Eskay graben (geologic trough) extends southward, from Skeena’s grounds, onto Eskay Mining’s grounds. Approximately 85% of the belt lies within Eskay’s tenure.

The company said a statement that the early-stage drilling suggests “a significant precious-metals bearing VMS system at (the) TV and Jeff (targets).” Eskay has now added a second drill to this area.

“We are encouraged by our early drill holes at the TV target,” Quinton Hennigh, a director of the company and technical advisor, said in a statement. “Mineralization is clearly of the Eskay Creek ilk with significant precious metal values and highly elevated pathfinder elements common to Eskay Creek … ”

Hennigh noted that now that Eskay Mining has “confirmation of a large, stacked, mudstone-hosted system,” it plans to drill this area in an attempt to vector in to its high-grade core.

Additional assays are pending for holes that returned additional massive sulphide intercepts.

This most recent result is from joint-venture ground, held by Eskay Mining (80%) and Kirkland Lake Gold (TSX: KL; NYSE: KL) (20%).

The Eskay land package totals 520 sq. km within the Golden Triangle, and precious-metals rich VMS deposits are the company’s main exploration target.

— This article first appeared in the Canadian Mining Journal, part of Glacier Resource Innovation Group.