Skeena Resources

Skeena Resources is developing the past producing Eskay Creek gold-silver mine in British Columbia's Golden Triangle. A 2023 Definitive Feasibility Study outlined plans for resuming open pit mining with average annual production of 320,000 gold equivalent ounces over a 12-year mine life, with years 1-5 producing an average of 450,000 gold equivalent ounces annually. Reserves currently stand at 4.6 million ounces gold equivalent at an average grade of 3.6 g/t. The project has robust economics with an after-tax NPV5% of C$2.0 billion and 43% IRR at base case metal prices. In June 2024, the company announced a comprehensive US$750m financing package with Orion Resource Partners to develop Eskay Creek. The financing package consists of a $100 million equity investment, a $200 million gold stream, a $350 million senior secured loan, and a $100m cost over-run facility. The company is fully financed to develop Eskay Creek.

The company sees exploration potential to grow resources at Eskay Creek, including near mine targets and the Eskay Deeps discovery which extended mineralization down-dip.

Skeena also owns the past producing Snip mine, located 40 km west of Eskay Creek. A Mineral Resource Estimate dated September 2023 highlights 823,000 gold ounces (Indicated) at an average grade of 9.35 g/t. 

Eskay Creek benefits from extensive existing infrastructure, including a permitted tailings facility, camp, and roads. The site has excellent access to grid power located only 17 km away. The project has strong support from the Tahltan First Nation, who are also shareholders in Skeena.

With permits underway, Skeena targets first production in 2027. Skeena is positioned to become a new intermediate gold producer in the Americas, leveraging the exceptional high-grade Eskay Creek project.