EXPLORATION & DEVELOPMENT

'We are quite excited about this new discovery'

Skeena reports 1.5m at 1,131.91g/t gold at Snip

Staff reporter
 Viewing core underground at Skeena Resources’ Snip project in BC

Viewing core underground at Skeena Resources’ Snip project in BC

The highlight, from 249.6m, equated to 36.39 ounces per tonne and also included 0.5m at 3,390g/t.

A separate hole hit 6.65m at 7.37g/t, in the 10-hole, phase one surface exploration drilling at the 200 Footwall Corridor.

"We are quite excited about this new discovery and the confirmed exploration potential of this area," VP exploration and resource development Paul Geddes said.

"Previous operators were not focused on exploring the footwall portions of the former Snip mine and as such, there is a lack of drilling in these areas."

Further results are pending.

Skeena is looking to revitalise two former Barrick Gold mines in BC, namely Snip and Eskay Creek, where it delivered a preliminary economic assessment for a high-grade openpit gold-silver mine in November.
 
The company raised C$16 million (US$12.2 million) in an oversubscribed placement last month at 82c per flow-through share.

Its shares are trading at the upper end of its 52-week range of 26.5-71c, closing up 3.3% to 63c yesterday.

At that price, it is capitalised at $72.6 million (US$55.4 million).

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.