Skeena Resources Limited Stock Price, News & Analysis

Skeena Resources Limited (TSX:SKE, NYSE:SKE) announced a major milestone on January 17, 2023, by signing the Process Charter for the Eskay Creek gold-silver Project in British Columbia. This collaboration involves the Tahltan Central Government and the Government of BC, aiming for an efficient Environmental Assessment (EA) and permitting process. The EA Certificate is targeted for H2 2024, while final permits are anticipated in H1 2025. The federal approval for the BC Environmental Assessment Office to conduct a single assessment further streamlines this process. Skeena emphasizes its commitment to work with the Tahltan Nation for effective project approval.

Skeena Resources Limited (TSX:SKE, NYSE:SKE) announced the departure of Chief Operating Officer Shane Williams, effective immediately. President & CEO Randy Reichert will temporarily take over the COO responsibilities. Additionally, Adrian Newton has been promoted to Vice President of Exploration, continuing to lead exploration programs in the Golden Triangle. The company is focused on the Eskay Creek gold-silver project, which has promising metrics including a 50% IRR and an after-tax NPV5% of C$1.4B from its September 2022 feasibility study.

Skeena Resources Limited (TSX:SKE)(NYSE:SKE) announced the completion of a royalty sale with Franco-Nevada Corporation, granting a 0.5% net smelter returns royalty on the Eskay Creek gold-silver Project. This transaction, valued at C$27 million upfront and C$1.5 million contingent, closes the previously established right of first refusal Franco-Nevada held. Funds from the sale will support exploration and development at Eskay Creek, which boasts a feasibility study projecting a C$1.4 billion NPV5% and a 50% IRR. The transaction was finalized on December 30, 2022.

Skeena Resources Limited (TSX:SKE)(NYSE:SKE) has announced promising drilling results from the 22 Zone at the Eskay Creek gold-silver Project in British Columbia. Notable finds include drill hole SK-22-1112, which intersected 1.86 g/t Au and 88.3 g/t Ag over 16.56 m, and SK-22-1113, averaging 1.83 g/t Au and 101.4 g/t Ag over 9.90 m. These mineralization zones are open for expansion, offering potential for further resource growth beyond the existing feasibility study limits.

Skeena Resources Limited (TSX:SKE)(NYSE:SKE) has announced new Rhyolite-hosted mineralization at its Eskay Creek gold-silver Project in British Columbia. The recent exploration drilling confirmed significant gold-silver intersections in the 23 Zone, including 0.92 g/t Au and 12.5 g/t Ag over 79.97 m. Further results are expected, which could enhance the project's future open-pit strip ratio. The company anticipates that this newly delineated mineralization will contribute positively to the upcoming Feasibility Study update planned for H2 2023.

Skeena Resources Limited (TSX:SKE)(NYSE:SKE) announced on November 22, 2022, that its appeal against the BC Chief Gold Commissioner's decision was dismissed by Justice Iyer of the British Columbia Supreme Court. Skeena plans to appeal this ruling. Importantly, this court decision does not impact the economics, resources, or reserves as detailed in the 2022 Feasibility Study for the Eskay Creek project. The feasibility study revealed an average grade of 4.00 g/t AuEq and an after-tax NPV5% of C$1.4B.

Skeena Resources Limited (TSX:SKE) announced the discovery of new Rhyolite-hosted mineralization near the 22 Zone at the Eskay Creek gold-silver Project. Drill hole SK-22-1054 revealed 1.79 g/t Au and 32.0 g/t Ag over 40.67 meters, located 200 meters east of the existing resources. This area, previously deemed non-prospective due to historical drilling limitations, shows potential for additional mineralization. The company plans further exploration in 2023 to evaluate this promising finding, indicating substantial untapped resources in proximity to known deposits.

Skeena Resources Limited has announced further drilling results from the 21A West Zone at its Eskay Creek gold-silver Project in British Columbia. Significant intersections include 7.73 g/t Au and 16.8 g/t Ag over 17.20 m in drill hole SK-22-1131. This area, previously deemed barren, shows promising high-grade mineralization. Additional results from SK-22-1103 also indicate valuable near-surface Rhyolite mineralization. The 21A West Zone is open for further expansion, indicating potential growth for the company.

Skeena Resources Limited (TSX:SKE)(NYSE:SKE) released its interim financial results for Q3 2022, reporting a Feasibility Study for the Eskay Creek project. Key highlights include an after-tax NPV5% of C$1.4B and an internal rate of return of 50% at a gold price of US$1,700/oz. The open-pit average grade stands at 4.00 g/t AuEq, with a projected 1-year payback. The company continues to explore drilling at the site, focusing on the revitalization of this past-producing gold-silver mine.