Source: Skeena Resources Limited
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Skeena Resources (SKE) has completed a feasibility study on its  Eskay Creek Gold-Silver Project, the company confirmed on Thursday
  • The Vancouver company gives the property an after-tax net present value of C$1.41 billion
  • The estimate uses a base case of US$1,700 per ounce of gold and US$19 per ounce of silver
  • The property is located in British Columbia’s Golden Triangle
  • Skeena Resources is up 8.99 percent, trading at $6.79 at 11:08 am ET

Skeena Resources (SKE) has completed a feasibility study on its  Eskay Creek Gold-Silver Project, the company confirmed on Thursday.

The Vancouver-based mineral resource exploration company gives the property an after-tax net value of C$1.41 billion.

The estimate uses a base case of US$1,700 per ounce of gold and US$19 per ounce of silver.

The property is located in British Columbia’s Golden Triangle.

The feasibility study gives the property open-pit mineral Reserves of 29.9 million tonnes containing 2.87 million ounces gold and 75.5 million ounces silver.

The expected production rate over the life of the mine is 3.2 million AuEq ounces from 2.4 million ounces of gold and 66.7 million ounces of silver.

Years one through five come with an average annual production of 431,000 AuEq ounces. That would make Eskay Creek a tier-one operation.

The after-tax internal rate of return is 50.2 percent and an after-tax payback on pre-production capital expenditures would occur after one year.

“The Feasibility Study confirms the robust economics of the world-class Eskay Creek Project originally shown in the Prefeasibility Study but with improved definition. The open-pit mineable, high-grade ore combined with the existing infrastructure at the Eskay Creek site and nearby hydropower provides for an extraordinary project that can be developed by Skeena. While the team continues to work on optimization of the Project, my primary focus will now shift to advancement of the permitting process as we move Eskay Creek toward construction,” said Skeena President Randy Reichert.

Skeena Resources is up 8.99 percent, trading at $6.79 at 11:08 am ET.


More From The Market Herald
Desert Mountain Energy - CEO, Robert Rohlfing.

" Desert Mountain Energy (TSXV:DME) completes testing at McCauley Helium Processing Facility

Desert Mountain (DME) has completed testing at its McCauley Helium Processing Facility in Arizona.

" StrategX (CSE:STGX) confirms new discovery at Nagvaak project

StrategX Elements (STGX) finds new energy transition metals from drill hole 14, in target area one of the Nagvaak project in Nunavut.

" Golden Goliath (TSXV:GNG) completes drill holes at its Wish Ore Property

Golden Goliath Resources (GNG) has completed drilling holes at its Wish Ore Project.

" Freegold (TSX:FVL) intersects high-grade gold

Freegold Ventures Limited (FVL) shared the gold results from an additional seven holes done for its drill program on the Golden Summit Project.