Welcome to our dedicated page for Skeena Resources news (Ticker: SKE), a resource for investors and traders seeking the latest updates and insights on Skeena Resources stock.
Skeena Resources Limited (SKE) is a junior Canadian mining exploration company dedicated to the discovery and development of prospective base and precious metal properties in the Golden Triangle region of northern British Columbia, Canada. The company focuses primarily on the evaluation and development of the Eskay Creek and Snip projects, both of which are past-producing mines.
Skeena's flagship project, Eskay Creek, acquired from Barrick Gold, is undergoing extensive exploration and development activities. The company recently released a Definitive Feasibility Study (DFS) for Eskay Creek in November 2023, which highlights an after-tax NPV5% of C$2.0 billion, 43% IRR, and a 1.2-year payback at gold and silver prices of US$1,800/oz and US$23/oz, respectively. The DFS indicates robust project economics, supporting the potential for Eskay Creek to become a Tier 1 gold mining operation.
Besides Eskay Creek, Skeena is also advancing the Snip Project, another past-producing gold mine. The company is committed to sustainable development, maintaining strong relationships with First Nations, neighboring communities, and other stakeholders. Skeena prioritizes environmental, health, safety, and social responsibilities in all its operations.
Recently, Skeena successfully closed a C$81 million financing package with Franco-Nevada Corporation, which includes the sale of a 1.0% Net Smelter Return (NSR) royalty on Eskay Creek and a C$25 million unsecured convertible debenture. This strategic financing aims to further advance the Eskay Creek project towards production.
Furthermore, Skeena continues to make significant strides in its exploration programs. The 2023 drilling results at Eskay Creek revealed high-grade gold-silver mineralization, which, although not expected to materially affect existing open-pit resources and reserves, underscores the potential for further discoveries. The company has also outlined ambitious plans for 2024, including a seismic survey and additional exploratory drilling to refine the understanding of the Eskay Creek rift model.
Skeena Resources' commitment to ESG (Environmental, Social, and Governance) principles is evident in its 2023 report, showcasing significant contributions across economic, environmental, social, and governance areas. The company’s proactive approach in these areas is designed to create value for shareholders, stakeholders, and First Nation partners.
Recent News Highlights:
- November 14, 2023: Skeena announces results of the Definitive Feasibility Study for Eskay Creek.
- December 18, 2023: Skeena secures C$81 million financing package with Franco-Nevada Corporation.
- December 22, 2023: Filing of the detailed Technical Report for the Updated Feasibility Study on Eskay Creek.
- February 8, 2024: Skeena reports results from the 2023 exploration drilling program.
- April 1, 2024: Skeena releases fourth-quarter and annual financial results for the year ending December 31, 2023.
Skeena Resources Limited (TSX:SKE)(NYSE:SKE) has announced significant drilling results from the 21A West Zone at the Eskay Creek gold-silver Project in British Columbia. Drill hole SK-22-1122 revealed high-grade mineralization, averaging 20.43 g/t Au and 175.2 g/t Ag over 24.00 meters, including remarkable subintervals. This zone, discovered in late 2021, demonstrates continuity and potential for further expansion. Additionally, new mineralization has been identified below the proposed open-pit area. The 2022 drilling program totaled 55,652 meters and will contribute to a resource update in H2 2023.
Skeena Resources Limited (TSX:SKE)(NYSE:SKE) announced significant drilling results from the first deep drill hole at Eskay Creek gold-silver Project, revealing a new occurrence of Rhyolite-hosted mineralization. Drill hole SK-22-1081 intersected a broad interval grading 3.79 g/t Au and 59.4 g/t Ag over 32.19 metres at a depth of 850 metres. This discovery indicates substantial exploration potential north and west of current resources. Senior Vice President Paul Geddes noted this supports the thriving mineralized system at depth, while Executive Chairman Walter Coles expressed excitement over the discovery's potential for underground exploration.
Skeena Resources Limited (TSX:SKE) announced the promotion of Randy Reichert to Chief Executive Officer, while Walter Coles transitions to Executive Chairman. The company focuses on the redevelopment of the Eskay Creek gold-silver mine in British Columbia, showcasing a Feasibility Study that reports an average open-pit grade of 4.00 g/t AuEq, an after-tax NPV5% of C$1.4B, and a 50% IRR based on US$1,700/oz Au. Skeena is actively engaged in exploration drilling at the site, continuing its commitment to advancing the project.
Skeena Resources announced promising drilling results from the 2022 exploration program at the Eskay Creek gold-silver Project in British Columbia. Key findings include:
- Drill hole SK-22-1069 reported 1.94 g/t Au and 32.3 g/t Ag over 26.50 m.
- Drill hole SK-22-1071 confirmed continuity of mineralization, intersecting 1.12 g/t Au over 109.82 m.
- New mineralization discovered in 21A West Zone, featuring a significant intersection of 1.12 g/t Au over 109.82 m.
The results suggest potential improvements in future open-pit operations.
Skeena Resources Limited (TSX:SKE)(NYSE:SKE) released promising drilling results from its 2022 exploration programs at the Eskay Creek gold-silver Project in British Columbia. Key findings include:
- Drill hole SK-22-1093 intersected 47.50 g/t Au and 73.4 g/t Ag over 12.12 m.
- Hole SK-22-1031 showed 2.21 g/t Au and 4.6 g/t Ag over 50.00 m.
- New mineralization discovered in the 21A West Zone is set to be included in future resource updates.
- Ongoing drilling aims to increase open pittable resources and convert to Probable Reserves.
Skeena Resources Limited (TSX:SKE, NYSE:SKE) announced the repurchase of a 0.5% net smelter return (NSR) royalty from Barrick Gold for C$17.5 million on its Eskay Creek gold-silver project in British Columbia. This buyback reduces the original 1% NSR royalty by half, enhancing potential profitability. A right of first refusal was granted to Franco-Nevada on a 0.5% NSR, which will be subject to a competitive auction process by October 2, 2023. This strategic move aims to increase shareholder value and optimize the project’s economics.
Skeena Resources Limited has filed a detailed technical report for its Eskay Creek gold-silver project, compliant with NI 43-101 Standards. The report includes key findings from the feasibility study released on September 8, 2022, highlighting an open-pit average grade of 4.00 g/t AuEq, an after-tax NPV5% of C$1.4B, a 50% IRR, and a 1-year payback at US$1,700/oz Au and US$19/oz Ag. The full report is accessible on Skeena's website and filed on SEDAR and EDGAR.
Skeena Resources Limited announced the results of the Feasibility Study for its Eskay Creek gold-silver project, revealing a post-tax NPV of C$1.41 billion at US$1,700 gold and US$19 silver. The project boasts a 50.2% IRR and a payback period of just 1 year. Estimated pre-production capital expenditures are C$592 million with life-of-mine production of 3.2 million AuEq ounces. The project is noted for its low carbon intensity at 0.20 t CO2e/oz AuEq, aiming to be among the lowest emitting mines globally. A conference call is scheduled for September 8, 2022, to discuss the results.
Skeena Resources Limited (TSX:SKE)(NYSE:SKE) announced promising drilling results from its 2022 exploration programs at the Eskay Creek gold-silver Project. Key highlights include:
- Results of up to 47.50 g/t Au over 12.12 m
- Significant in-pit discoveries that enhance the 21A West Zone
- Additional mineralization expected from ongoing drilling
The company will host a conference call on September 8, 2022, to discuss a new feasibility study.
Skeena Resources Limited (TSX:SKE, NYSE:SKE) reported its interim financial results for the quarter ending June 30, 2022. The Prefeasibility Study for the Eskay Creek project indicates an after-tax NPV of C$1.4B and an IRR of 56%. The company is conducting infill and exploration drilling to advance the project toward a full Feasibility Study. Financial statements are accessible on the company's website and on SEDAR and EDGAR.
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