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Skeena defines maiden resource for Spectrum gold-copper project

Greenhouse gas and gold mines Nearly 1 ton of CO2 emitted per ounce of gold produced in 2019

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Essential Metals & Mining Insights - August 2020

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Skeena defines maiden resource for Spectrum gold-copper project

SkeenaResources Ltd. has delivered a maiden resource for its gold-copperproject in British Columbia.

The Vancouver, Canada-based company said April 25 that theCentral Zone of the project now hosts an indicated resource of around 9.0million tonnes at 1.04 g/t of gold, 6.58 g/t of silver and 0.11% coppercontaining 290,000 ounces of gold, 1.8 million ounces of silver and 20.8million pounds of copper.

The zone also has an additional 22.6 million tonnes in theinferred category, with average grades of 1.03 g/t of gold, 3.85 g/t of silverand 0.11% copper containing 750,000 ounces gold, 2.8 million ounces silver and54.9 million pounds of copper.

Drilling to date shows that the Central Zone extends fromsurface to 400 meters deep and remains open to the west, south, north and atdepth.

Chairman Ron Netolitzky said the Spectrum resource should beconsidered preliminary as it is still open to expansion to the west, north andsouth where porphyry gold-copper mineralization was recognized late in the 2015field season.

"In addition, copper and silver assays are lacking formany historic holes," he said. "We consider it somewhat premature tobe issuing a resource estimate when the deposit has not been fully drilled off."

Skeena is aiming to further expand the gold-copper resourcewith wide-spaced drilling and to begin to define resources on otherhigh-priority gold and gold-copper targets at Spectrum that have had little orno drilling to date.