Skeena Resources (TSX: SKE; NYSE: SKE) continued to find good grades as it completed the second phase of drilling at the Albino waste facility at the Eskay Creek gold-silver project in B.C.’s Golden Triangle. The best assay was 10.13 grams gold-equivalent per tonne over 16.8 metres.
Drilling at the Albino waste facility consisted of 212 metres in 12 vertical holes dug by an air rotary drill rig mounted on a floating barge. The drill program has increased the area of interest to 350 metres by 125 metres and the assays were in line with those from the first phase of drilling in early 2021.
Highlights included hole SK-21-899, which cut 16.8 metres grading 5.9 grams gold per tonne and 317 grams silver per tonne (10.13 grams gold-equivalent per tonne); drill hole SK-21-901, which returned 12.2 metres at 4.53 grams gold and 168 grams (6.77 grams gold-equivalent); and drill hole SK-21-903, which intersected 13.7 metres of 5.84 grams gold and 222 grams silver (8.8 grams gold-equivalent).
Other notable intercepts were from drill hole SK-21-908 with 16.8 metres grading 3.39 grams gold and 156 grams silver (5.47 grams gold-equivalent); and drill hole SK-21-909, with 16.8 metres grading 3.76 grams gold and 151 grams silver (5.77 grams gold-equivalent).
The two drill programs have intersected a mineralized horizon 13.2 metres (true thickness) across a total of 20 holes. The length-weighted average from all holes is 4.03 grams gold and 163 grams silver (6.21 grams gold-equivalent).
Skeena says the Albino waste facility was used by former Eskay Creek operators for the sub-aqueous disposal of development waste rock and mill tailings. It is situated west of the mine site.
The company released a pre-feasibility study for the project in July 2021. It outlined an average grade of 4.57 grams gold-equivalent per tonne for an open pit mine. The PFS estimated preproduction capital cost of $488 million. The after-tax net present value at a 5% discount rate was $1.5 billion with an internal rate of return of 56%, and a 1.4-year payback.
Skeena is planning to advance Eskay Creek to full feasibility by the first quarter next year.
Be the first to comment on "Skeena drills 10 grams gold-equivalent per tonne from Eskay Creek waste"