Agoracom: Small Cap Investment - Skeena Resources - TSXV-Listed Skeena Resources Up 6.4% to a 52-Week High As It Readies Drilling Program at Eskay Creek

Skeena Resources

The Company's primary activities at present are the evaluation of the high-grade Spectrum Gold property in the prolific Golden Triangle of northwestern BC.

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TSXV-Listed Skeena Resources Up 6.4% to a 52-Week High As It Readies Drilling Program at Eskay Creek

posted on Jun 17, 2020 05:33PM

2020-06-17 12:26:52 PM ET (MT Newswires)

12:26 PM EDT, 06/17/2020 (MT Newswires) -- Skeena Resources (SKE.V) was up 6.4% to a 52-week high after the company on Wednesday said it is ready to restart drilling at its Eskay Creek gold and silver project in British Columbia's Golden Triangle.

The company said it will start its planned 137,000 meter program late this month using two drilling rigs, rising to as many as 10 rigs to complete the work by year end.

"Skeena has spent almost $25 million at Eskay Creek since we optioned the project from Barrick. Due to the exercise of warrants expiring last week, Skeena's cash position is approaching $50 million. The company is fully funded for an exploration budget that will total approximately $45 million for the balance of the year as we look to aggressively advance Eskay Creek," chief executive Walter Coles said in a release.

Skeena shares were last seen up C$0.09 to C$1.49 on the TSX Venture Exchange, topping its prior 12-month high of C$1.40.