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Eskay Mining Corp.
Summary
| Project: | SIB | |
|---|---|---|
| Deposit: | SIB | |
| Location: | Canada | |
| Commodities: | Gold-Silver-Zinc | |
| Date: | 1/22/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 22-1-2018: Eskay Mining Corp. announces an Exploration/Drilling Update report for its SIB deposit at the SIB project. JV with SSR Mining - Drilling results incl. 3m @ 0.47g/t Au, 0.5g/t Ag from 891.3m. Toronto, January 22, 2018 – Eskay Mining Corp. (“Eska | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Charles J. Greig (Internal) | |
| ABSTRACT: | Toronto, January 22, 2018 – Eskay Mining Corp. (“Eskay” or the “Company”) (TSXV:ESK) (OTC-PK: ESKYF) (Frankfurt: KN7; WKN: A0YDPM) is pleased to announce that SSR Mining Inc. (formerly Silver Standard Resources Inc.) (NASDAQ: SSRM) (TSX: SSRM) (“SSRM”) has elected to proceed with the second year of a three year option agreement with the Company on the SIB property. SSRM may earn an undivided 51% interest by spending an aggregate of $11.7 million in exploration expenditures over the term of the agreement. SSRM may earn a further 9% undivided interest for an aggregate 60% undivided interest by delivering either a preliminary economic assessment or completing an aggregate of 23,000 meters of diamond drilling (see April 26th, 2017 news release). Eskay is also pleased to announce the final assay results from the 2017 diamond drill program at the SIB property. The 2017 drill program at the SIB property was designed to test for precious metals enriched massive sulphide mineralization and prospective stratigraphy beneath the Coulter Creek Thrust Fault (CCFT). The SIB property lies immediately south-southwest along strike from Barrick Gold Corporation’s past-producing Eskay Creek Mine. Ten of the twelve drillholes completed in 2017 targeted the footwall of the CCTF (Figure 1). All holes intersected favourable Salmon River Formation rocks, which closely resemble host rocks at the mine. Cross sections illustrating the interpreted geology of the CCTF footwall, which were constructed from geological, geophysical and downhole structural data, are shown in Figures 2, 3 and 4. | |
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