Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Eskay Mining Corp. (ESK) discovered new prospective deposits at its Consolidated Eskay Project
  • The company has completed roughly 18 per cent of the project to date
  • Work confirmed a greater mineralization system exists north of the Jeff target
  • Exploration at the Scarlet Ridge also showed a large system which will see drilling later this month
  • Prelimnary field visits to Excelsior South with results expected in a few weeks
  • Eskay Mining Corp. (ESK) is up 5.26 per cent trading at $1.80 per share as of 1:17 p.m. ET

Eskay Mining Corp. (ESK) has discovered several new prospective deposits at its Consolidated Eskay Project in British Columbia.

The company has reported it has completed 13 holes on the project, representing about 18 per cent of the total planned program for this year which is on track for its current goal.

“By pushing for an early start to the 2022 exploration program we have been able to meet one of our major objectives… targeting criteria built over the past two years continues to yield mineralized intercepts,” Dr. John DeDecker, Eskay Mining’s Vice President of Exploration, said.

According to Eskay, drilling and mapping confirmed that the greater TV-Jeff system extends slightly north of the Jeff Zone A significant zone of semi-massive sulfide mineralization has been found at Jeff North appearing at the surface as a ridge, and in drill core samples.

Source: Eskay Mining Corp.

“Not only does the TV-Jeff [volcanogenic massive sulphide] system appear to encompass a minimum five-kilometre trend of [volcanogenic massive sulphide] mineralization, we have also confirmed that Scarlet Ridge is host to a separate VMS system of similar size,” Dr. DeDecker said.

Eskay stated that the Scarlet Ridge exhibits signs of a large mineralization system, with multiple feeder zones which connects to further structures hundreds of metres long. Drilling will begin at the feeder zones later this month.

Additionally, the company reported it preliminary field visits to Excelsior South which followed up on strong gold results from 2020 and strong pathfinder anomalies found in soil from 2021.

A soil sampling program has just been completed at Excelsior South and results are anticipated to arrive in a few weeks. Depending on the results, Eskay may complete a drill program for the area this year.

Eskay Mining Corp. (ESK) is up 5.26 per cent trading at $1.80 per share as of 1:17 p.m. ET.

More From The Market Herald

" Prime Meridian (TSXV:PMR) announces $1M financing

Prime Meridian Resources Corp. (PMR) has signed a non-brokered private placement financing agreement for proceeds of up to $1 million.

" Fortune Bay (TSXV:FOR) files Goldfields PEA

Fortune Bay (FOR) has filed an independent preliminary economic assessment (PEA) for its Goldfields Project in Saskatchewan.

" Emperor Metals (CSE:AUOZ) announces $5M private placement

Emperor Metals (AUOZ) has announced a non-brokered private placement for gross proceeds of up to $5,001,550.
Emerita Resources Corp. - CEO, David Gower

" Emerita (TSXV:EMO) announces Aznalcóllar trial date

Emerita Resources (EMO) announced the Third Section of the Provincial Court of Seville has set the date court date regarding the Aznalcóllar package.