Skeena Resources Limited
TSX VENTURE : SKE

June 29, 2011 12:20 ET

Skeena Reports 3rd Batch Copper & PGM Assays from Tropico Drilling, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 29, 2011) - Skeena Resources Limited (TSX VENTURE:SKE) is pleased to announce assay results of 4 additional holes from its current 5,000 metre diamond drill program on its 100% owned Tropico Project, Sinaloa State, Mexico. Assay results have now been obtained from 15 of the 19 holes completed to date (totaling approximately 4,242 m), out of a proposed 22 hole first-phase program, on this layered mafic/ultramafic complex. Within the central portion of the Maricela – San Pablo Zone (refer to news releases dated May 10 and 30, and June 13, 2011), up to four parallel, near vertically dipping, 16 metre to >100 metre thick horizons of mineralized pyroxenite, interspersed with barren gabbro, have been drill intersected, each yielding 0.17 to 0.5 % copper, from 0.2 g/t to 0.6 g/t PGM (platinum + palladium + gold) and an average silver content of approximately 2 g/t. The 2 pyroxenite bands on the north side appear to have good continuity over a strike length of at least 2.5 km; the 2 horizons on the south side are less well investigated at this stage but are interpreted to have continuity over a strike length of at least 1.5 km.

Assay results are set out in the Table below, and the reader is referred to a drill plan map on the Company's website at www.skeenaresources.com.

Drill Hole No.From (m)To (m)Interval (m)% CuPGM (Pt+Pd+Au) ppb**Ag (g/t)
SK 11-012202.2216.013.80.1832042.3
SK 11-013148.4154.46.00.4794924.4
197.5226.6*29.10.1972361.6
SK11-01495.0173.078.00.1452190.8
including146.8161.014.20.2063251.1
217.0235.018.00.1713281.1
SK 11-01512.020.08.00.2263352.1
43.852.08.20.1392030.7
74.0194.5120.50.2553451.4
including120.3192.572.20.3444521.8
244.5259.0*14.50.1871980.9

* Mineralization remains open at depth as the hole was stopped short
** 1,000 ppb equals 1 gram per tonne

Additional drilling will test for lateral continuity at the west end of the Maricela Zone, and at depth on at least one of the prior drill fences in the central portion of the Maricela Zone.

Further drill results will be reported in batches of holes.

Quality Control

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by J. R. Allan, P.Geol., president and CEO of Skeena Resources Limited, the designated Qualified Person for this project. On site drilling supervision is provided by two independent geologists, Dr. Daniel Rubiolo. P.Geo. of GeoServa Exploration Ltd. and Ing. Felipe Ortega Garcia of Servicios Geologicos y Mineros de Aztlan SA de CV. A rigorous chain-of-custody and QA/QC program, consisting of the insertion of certified standard control samples, duplicates and blanks was applied to the N thin-walled diameter, sawn half-core samples. Sample preparation was handled by an Acme Analytical Laboratories facility in Guadalajara, Mexico and the analyses by Acme Analytical in Vancouver, British Columbia. Gold and the PGM elements are analyzed by fire assay with an ICP-ES finish, and 31 additional elements by ICP-AES analyses. Drill intercepts are reported as down hole lengths over widths in metres, as true widths of the various zones have not yet been reliably ascertained.

ON BEHALF OF THE BOARD OF DIRECTORS OF SKEENA RESOURCES LIMITED

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 Information

  • Skeena Resources Limited
    Tony Perri
    Investor Relations, Manager
    604-684-8725
    604-669-2543 (FAX)
    tperri@skeenaresources.com

    Wani Capital
    Raju Wani
    403-240-0555