Home Market News Mining Skeena Increases Snip Indicated Resource to 823,000 oz, a 237% Boost

Skeena Increases Snip Indicated Resource to 823,000 oz, a 237% Boost

0
Skeena Increases Snip Indicated Resource to 823,000 oz, a 237% Boost

The indicated resource for Snip has experienced a significant increase, reaching 823,000 oz of gold. At the same time, the inferred resource has decreased to 499,000 oz of gold, down 72% from the previous estimate. This inferred category consists of 499,000 tonnes with a gold grade of 7.10 g/t.

Situated in the Golden Triangle of British Columbia, Snip was a gold producer that operated from 1991 to 1999. During its operation, it extracted approximately 1.0 million oz of gold from ore containing an average grade of 27.5 g/t.

Skeena is currently conducting drilling activities and metallurgical tests on samples from Snip. A definitive feasibility study for redeveloping an underground mine, which will supply the Eskay Creek mill, is scheduled to be completed by the end of this year. The initial engineering study for Snip is anticipated to be released in the first quarter of 2024.