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A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Infill results from Skeena Resources’ (SKE.V) Eskay Creek property within British Columbia’s Golden Triangle continue to return high grade intersections and confirm the mineral resource limits.
Drill highlights include:
Four surface rigs targeted the 21A, 21E and hangingwall zones at the past-producing site. This drilling was aimed at upgrading inferred resources to the indicated category. Exploration and infill work is expected to restart in mid-February.
Based on an update released at the end of February 2019, indicated resources at Eskay Creek stand at 13.5 million tonnes grading 5.9 g/t gold-equivalent for a total of 2.6 million gold-equivalent oz. with additional inferred resources of 14.7 million tonnes at 3 g/t gold-equivalent for a total of 1.4 million oz. The majority of current resources are pit-constrained.
Barrick Gold retains a back-in right to purchase a 51% interest in the Eskay Creek project, exerciseable for a 12-month period following the release of a resource of at least 1.5 million oz. of gold-equivalent for the property.
Earlier this month, Skeena announced the sale of the GJ property to Newcrest for C$7.5 million in cash as well as the sale of the Blackdome-Elizabeth property to Tempus Resources for C$500,000 in cash.
(This article first appeared in the Canadian Mining Journal)
