May 14, 2015

Skeena's Spectrum Project Yields Excellent Bench-Scale Metallurgical Recovery of Gold

NR: 15-07

Skeena Resources Limited (TSX.V: SKE) (“Skeena” or the “Company”) is pleased to report favourable preliminary bench-scale metallurgical results from the Company’s 100%-owned high-grade Spectrum Gold Property in northwest British Columbia. The focus was on gold recovery by gravity concentration followed by cyanide leaching of the tailings of composite samples from two specific mineralized horizons within the Central Zone (the reader is referred to the Company website for a plan map of the drilling). Drill core reject samples from Skeena’s 2014 program were delivered to the facilities of the Saskatchewan Research Council (SRC) in Saskatoon for bench-scale test work as designed by Michael Yakimchuk P. Eng. The material was re-assayed and the composites from the two zones were calculated to have a weighted head grade of 13.50 g/t Au and 10.55 g/t Au, for the QC and Porphyry Zones, respectively. A table of the individual intercept assays is set out below:

QC Zone
  • The composite head-feed sample was calculated to be 13.96 g/t Au as compared to the weighted average of 13.50 g/t for the individual drill core sample assays.
  • A gravity recovery test yielded gold recovery of 56.4%
  • An overall gold recovery of 98.8% was obtained when both gravity and subsequent cyanide leaching of the gravity tails were performed.
Porphyry Zone
  • The composite head feed sample was calculated to be 8.76 g/t Au as compared to the weighted average of 10.55 g/t for the individual drill core samples.
  • A gravity recovery test yielded gold recovery of 24.6%
  • An overall gold recovery of 91.6% when both gravity and subsequent cyanide leaching of the gravity tails were performed.
The Company is pleased that the initial metallurgical test work indicates that the high-grade units within the Central Zone are clearly non-refractory in nature. The Company has commissioned SRC to perform standard flotation tests on the remaining material and subsequent gold recovery from the sulphide concentrate. Future metallurgical work on Spectrum will be designed to determine the optimal gold processing options, which may include a combination of conventional gravity, flotation or cyanidation methods.

QC ZONE Porphyry ZONE
Drill hole
no.
From (m)To (m)Grade Au
(g/t)
Drill hole no.From (m)To
(m)
Grade Au (g/t)
14-SP-0037879.53.814-SP-0011111134.8
14-SP-0037879.57.914-SP-0051441467.3
14-SP-00379.58173.814-SP-0051621646.9
14-SP-003818315.414-SP-00619519743.8
14-SP-0038384.51.014-SP-0081751778.5
14-SP-0041061084.214-SP-0081771791.7
14-SP-0041081104.714-SP-0081791801.2
14-SP-004110111.46.814-SP-008180180.550.7
14-SP-004111.4113.466.014-SP-008180.551821.7
14-SP-004113.41150.314-SP-0081821848.4
14-SP-0041151170.714-SP-0091731755.2
14-SP-0041171190.514-SP-00917517722.1
14-SP-00411912120.4
14-SP-0041211239.2
14-SP-0041231263.7
14-SP-0041261278.0
14-SP-0041271290.4
14-SP-0041291310.2
14-SP-00413113322.7
14-SP-005808218.6

The Qualified Person responsible for reviewing the technical data in this news release is Michael Yakimchuk, P.Eng.

ON BEHALF OF THE BOARD OF DIRECTORS OF

SKEENA RESOURCES LIMITED
Walt Coles Jr., President & CEO


Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
For Further Information Contact: Walt Coles Jr., President & CEO or
Tony Perri - Investor Relations, Manager
Suite 611, 675 W. Hastings St. Vancouver, B.C., Canada V6B 1N2
Tel: (604) 684-8725 Fax: (604) 669-2543 Email: tperri@skeenaresources.com

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