Skeena returns 98.8% Au recovery at Spectrum

May 14, 2015

SKEENA’S SPECTRUM PROJECT YIELDS EXCELLENT BENCH-SCALE METALLURGICAL RECOVERY OF GOLD

Skeena Resources Ltd. has released favourable preliminary bench-scale metallurgical results from the company’s 100-per-cent-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
               ------------------------------------------
               Drill hole                       Grade Au
               no.             From (m)  To (m)     (g/t)
               ------------------------------------------
               14-SP-003             78    79.5       3.8
               ------------------------------------------
               14-SP-003             78    79.5       7.9
               ------------------------------------------
               14-SP-003           79.5      81      73.8
               ------------------------------------------
               14-SP-003             81      83      15.4
               ------------------------------------------
               14-SP-003             83    84.5       1.0
               ------------------------------------------
               14-SP-004            106     108       4.2
               ------------------------------------------
               14-SP-004            108     110       4.7
               ------------------------------------------
               14-SP-004            110   111.4       6.8
               ------------------------------------------
               14-SP-004          111.4   113.4      66.0
               ------------------------------------------
               14-SP-004          113.4     115       0.3
               ------------------------------------------
               14-SP-004            115     117       0.7
               ------------------------------------------
               14-SP-004            117     119       0.5
               ------------------------------------------
               14-SP-004            119     121      20.4
               ------------------------------------------
               14-SP-004            121     123       9.2
               ------------------------------------------
               14-SP-004            123     126       3.7
               ------------------------------------------
               14-SP-004            126     127       8.0
               ------------------------------------------
               14-SP-004            127     129       0.4
               ------------------------------------------
               14-SP-004            129     131       0.2
               ------------------------------------------
               14-SP-004            131     133      22.7
               ------------------------------------------
               14-SP-005             80      82      18.6
               ------------------------------------------

              -----------------------------------------------
                               Porphyry ZONE
              -----------------------------------------------
                                             To      Grade Au
              Drill hole no.  From (m)       (m)        (g/t)
              -----------------------------------------------
              14-SP-001            111       113          4.8
              -----------------------------------------------
              14-SP-005            144       146          7.3
              -----------------------------------------------
              14-SP-005            162       164          6.9
              -----------------------------------------------
              14-SP-006            195       197         43.8
              -----------------------------------------------
              14-SP-008            175       177          8.5
              -----------------------------------------------
              14-SP-008            177       179          1.7
              -----------------------------------------------
              14-SP-008            179       180          1.2
              -----------------------------------------------
              14-SP-008            180    180.55          0.7
              -----------------------------------------------
              14-SP-008         180.55       182          1.7
              -----------------------------------------------
              14-SP-008            182       184          8.4
              -----------------------------------------------
              14-SP-009            173       175          5.2
              -----------------------------------------------
              14-SP-009            175       177         22.1
              -----------------------------------------------
http://www.skeenaresources.com/s/NewsReleases.asp?DateRange=2015/01/01...2015/12/31

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