Skeena Resources Limited Stock Price, News & Analysis

Skeena Resources Limited (TSX:SKE) announced positive final drilling results from the 2021 exploration programs at the Eskay Creek gold-silver Project. Notable highlights include a high-grade find of 8.78 g/t Au and 13 g/t Ag over 34.00 m in drill hole SK-21-997, expanding the 21A Zone. The upcoming 2022 exploration program will involve 60,000 m of drilling to explore near-surface mineralization and deep Mudstone extensions. Additional mineralization found in drill hole SK-21-972 supports near mine targets.

Skeena Resources Limited (TSX:SKE, NYSE:SKE) announced the appointment of Randy Reichert as President, effective April 2022. He will oversee all technical operations, including geology and engineering, reporting to CEO Walter Coles. With over 30 years in mining, Reichert brings valuable experience from his previous role at B2Gold Corp. and has been involved in significant projects like the Fekola Mine. Skeena is focused on revitalizing the Eskay Creek mine, having released a Prefeasibility Study in July 2021 showing an after-tax NPV5% of C$1.4B.

Skeena Resources Limited (TSX:SKE, NYSE:SKE) has announced its intention to appeal a decision made by the Chief Gold Commissioner regarding the ownership of materials in the Albino Lake Storage Facility at the Eskay Creek project. The Commissioner ruled that individual Richard Mills owns these materials, which Skeena has managed for decades. Skeena's President, Walter Coles, argues this decision sets a dangerous precedent and intends to pursue legal action.

The company is focused on advancing the Eskay Creek project, which has a prefeasibility study indicating significant potential.

Skeena Resources Limited (TSX:SKE)(NYSE:SKE) has expanded the recently discovered 23 Zone at the Eskay Creek gold-silver project in British Columbia. Significant drill results include 1.97 g/t Au, 3 g/t Ag over 40.50 m and 0.58 g/t Au, 14 g/t Ag over 52.00 m. This new mineralization zone is positioned 200 m east of the high-grade 21A Zone. The ongoing exploration program aims to delineate near-surface resources, with 72 drill holes completed thus far, comprising about 37% of the 35,000 m budgeted drilling program.

Skeena Resources Limited (TSX:SKE)(NYSE:SKE) announced a significant discovery at its Eskay Creek gold-silver project in British Columbia, revealing a new zone of near-surface mineralization, referred to as the 23 Zone. Notable drilling results include:

• 0.99 g/t Au, 6.5 g/t Ag (1.08 g/t AuEq) over 90.00 m
• 1.30 g/t Au, 31.4 g/t Ag (1.72 g/t AuEq) over 43.39 m
• 2.14 g/t Au, 14.6 g/t Ag (2.33 g/t AuEq) over 59.91 m

The mineralization, discovered just 15 m below the surface, remains open for expansion and complements existing plans for throughput enhancement.

Skeena Resources Limited (TSX:SKE, NYSE:SKE) announced on December 23, 2021, the successful closing of a non-brokered private placement offering with Franco-Nevada Corporation, raising C$30.9 million. The funds, generated from selling 1,471,739 flow-through common shares at C$21.00 per share, are earmarked for Canadian exploration expenses. Concurrently, Franco-Nevada received a right of first refusal over a 0.5% net smelter return royalty on the Eskay Creek project. The securities are subject to a four-month hold period.

Skeena Resources Limited (TSX:SKE, NYSE:SKE) announced a non-brokered private placement of 1,471,739 flow-through common shares at C$21.00 each, generating approximately C$30.9 million in gross proceeds. Franco-Nevada Corporation will purchase these shares and has a right of first refusal on a 0.5% net smelter return royalty related to the Eskay Creek project. The proceeds will fund exploration at Eskay Creek, with closing expected by December 23, 2021, pending regulatory approvals.

Skeena Resources Limited (TSX:SKE, NYSE:SKE) announced successful drilling results from the 2021 Phase II Albino Waste Facility (AWF) investigation at the Eskay Creek gold-silver project in British Columbia. The expansion program consisted of 212 m across 12 vertical drill holes, yielding impressive results: 5.90 g/t Au and 317 g/t Ag over 16.77 m (SK-21-899) among others. The newly discovered mineralization now spans an area of 350 m by 125 m. The Company is set to continue the drilling program in Q1 2022, pending safety conditions for ice thickness.

Skeena Resources Limited (TSX:SKE, NYSE:SKE) released its interim financial results for Q3 2021, highlighting renewed interest in the Eskay Creek gold-silver mine. The Prefeasibility Study indicates an average grade of 4.57 g/t AuEq, an after-tax NPV5% of C$1.4B, a 56% IRR, and a 1.4-year payback period at US$1,550/oz Au. Ongoing infill and exploration drilling aims to advance the project towards full feasibility by Q1 2022.