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'We are quite excited about this new discovery'

British Columbia-focused explorer Skeena Resources (TSXV: SKE) was upbeat about “considerable discovery upside” as it reported intersecting 1.5m at 1,131.91g/t gold at its Snip project in the Golden Triangle.
'We are quite excited about this new discovery' 'We are quite excited about this new discovery' 'We are quite excited about this new discovery' 'We are quite excited about this new discovery' 'We are quite excited about this new discovery'

Viewing core underground at Skeena Resources’ Snip project in BC

Staff reporter

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).