Skeena To Commence 5,000 Metre Drill Program at Tropico Project, Mexico
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News Release 11-02
Skeena Resources Limited (TSX.V: SKE) is pleased to announce that it has
awarded an initial contract for 5,000 metres of
core drilling on its Tropico project, a layered, mafic/ultramafic hosted,
copper-platinum-palladium-gold deposit located 25 kilometres
north of the deep water port of Mazatlan, Sinaloa State, Mexico. The contract
has been awarded to Maza Diamond Drilling of
Mazatlan, and drilling is expected to commence on or before March 12th.
Drilling will be directed at the five-kilometre-long
Maricela - San Pablo zone, which has previously
been explored by 22 trenches and 18 drill holes, and the 1.5-kilometre-long
El Pochote zone, which has been investigated by
four trenches and two drill holes.
Within the nearly vertically dipping Maricela-San
Pablo zone, gaps of 900 metres (at the west end of
the zone), 800 metres (internally) and 1,000 metres (at the east end of the zone) have not previously
been tested by drilling. All three of these 'gaps' exhibit good
geophysical/geological continuity with the main zone, are characterized by
numerous trenches with excellent assay results, or display strongly anomalous
Cu-Pt-Pd-Au soil geochemical values along their lengths.
Some of the historic trench results are set out below:
Trench No.
|
Cu (%)
|
Pt+Pd+Au (g/t)
|
Width (metres)
|
MTR-8
|
0.43
|
0.63
|
46.5
|
MTR-10
|
0.37
|
0.48
|
134.0
|
MTR-11
|
0.58
|
0.78
|
73.7
|
MTR-3
|
0.51
|
0.55
|
45.0
|
MTR-4
|
0.94
|
1.07
|
54.0
|
MT-02-13
|
0.64
|
1.02
|
85.0
|
MTR-1
|
0.72
|
0.99
|
72.0
|
And
|
0.46
|
0.83
|
14.0
|
And
|
0.54
|
0.71
|
48.0
|
Some of the better reported drill results from the Maricela
- San Pablo zone are also set out below. In many cases, the entire width of
the zone appears not to have been tested due to poor or no core recovery in
the uppermost 10 to 15 metres of each hole. Of the
drill core assayed, true widths of the mineralized horizon are estimated to
be in the order of 70 per cent of the reported drill intercepts below.
Drill Hole No.
|
Cu (%)
|
Pt+Pd+Au (g/t)
|
Width (metres)
|
M-01-01
|
0.34
|
0.48
|
110.5
|
M-01-03
|
0.46
|
0.64
|
80.5
|
M-01-04
|
0.36
|
0.55
|
127.4
|
SPD-02-01
|
0.47
|
0.45
|
59.0
|
Some of the reported trench results from the El Pochote
zone are as shown below:
Trench No.
|
Cu (%)
|
Pt+Pd+Au (g/t)
|
Width (metres)
|
EPT-02-04
|
0.37
|
0.47
|
42.2
|
EPD-02-02
|
0.51
|
0.80
|
60.8
|
EPD-02-01
|
0.28
|
0.45
|
70.0
|
EPT-02-01
|
0.51
|
0.72
|
63.0
|
Two down-dip oriented drill holes on the north margin of the zone (which
still intersected anomalous Cu-Pt-Pd-Au mineralization) failed to properly
test these exciting trench results.
The reprocessed helicopter-borne electromagnetic/resistivity and magnetic
survey data, and the recently completed geological mapping, are being
integrated with the historic data base in order to prioritize targets before
diamond drilling commences.
The historic trench and drill results reported herein are available in numerous
SEDAR filings under the profile of Santoy Resources
Ltd. (the most recent previous operator of the Tropico
project) and are displayed in schematic form on the Company's website (www.skeenaresources.com).
This robust, potentially open pittable, low-strip
ratio, large tonnage target has become very attractive with the better than four fold plus of metal prices since it last was
investigated by drilling and trenching (9 to 12 years ago).
The Company is pleased to announce that $740,000 of outstanding share
purchase warrants have been exercised since beginning of 2011.
The qualified person responsible for the content of this news release, as
defined by Canada Securities National Instrument 43-101, is the company
president and chief executive officer, J.R. Allan, P.Geol.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SKEENA RESOURCES LIMITED
"Rupert Allan"
J. R. Allan, P.Geol., President
Neither TSX Venture Exchange nor the Investment
Industry Regulatory Organization of Canada accepts responsibility for the
adequacy or accuracy of this release.
Contact: Tony Perri - Investor Relations, Manager
at 604-684-8725
Or Raju Wani of Wani Capital at 403-240-0555
Suite 611, 675 W. Hastings St. Vancouver, B.C., Canada V6B 1N2
Tel: (604) 684-8725 Email: tperri@skeenaresources.com
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