TORONTO, ON / ACCESSWIRE / August 26, 2024 / Eskay Mining Corp. ("Eskay" or the "Company") (TSX-V:ESK)(OTCQX:ESKYF)(Frankfurt:KN7)(WKN:A0YDPM) wishes to announce that its summer exploration program, as reported in a Company press release dated June 24th, 2024, has been completed. Geologist Ken McNaughton, leader of the team at Pretium Resources during the discovery of the Brucejack deposit, led Eskay's 2024 program and reported that he and his team are pleased that much of this summer's ground truthing has led to significant insight into the property's potential as well as targets for future drilling and other exploration.
McNaughton and team explored areas including Storie Creek, Scarlett Knob, Tarn Lake south to Tarn Creek, C-10 extending along the margin of Mandy Glacier, Vermillion and areas parallel to Mandy Creek, Maroon Cliffs, SIB/Lulu, TV, Cumberland and Ted Morris. Particular focus was given to ground review of historical high grade rock chip samples. During the summer program, 363 rock samples were collected and submitted to the laboratory for analysis. Assay results are expected back by early September and are anticipated to aid in identifying future drilling targets.
The Company, pending completion of its database update, expects to engage an independent resource modeler to prepare a maiden resource estimate for its 100% controlled TV, Jeff and SIB/ Lulu deposits.
Mac Balkam, CEO & President of Eskay Mining, stated, "Because of the recent depressed market for mineral exploration companies, we decided to be financially prudent and hold off on undertaking a drill program this season. McNaughton's team, with the new data gained from this summer's program, thinks that Eskay Mining can pursue an aggressive exploration and drilling program in 2025 once capital markets have improved. Our keen financial management has left us in the strong position of having over $2.5 million in cash, cashable instruments and government resource credits at a time when the exploration industry is generally cash starved."
Dr. Quinton Hennigh, P. Geo., a Director of the Company and its technical adviser, a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical contents of this news release.
About Eskay Mining Corp:
Eskay Mining Corp (TSX-V:ESK) is a TSX Venture Exchange listed company, headquartered in Toronto, Ontario. Eskay is an exploration company focused on the exploration and development of precious and base metals along the Eskay rift in a highly prolific region of northwest British Columbia known as the "Golden Triangle," 70km northwest of Stewart, BC. The Company currently holds mineral tenures in this area comprised of 177 claims (52,600 hectares).
All material information on the Company may be found on its website at www.eskaymining.com and on SEDAR at www.sedar.com.
For further information, please contact:
Mac Balkam | T: 416 907 4020 |
President & Chief Executive Officer | E: Mac@eskaymining.com |
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
SOURCE: Eskay Mining Corp.
View the original press release on accesswire.com
