Eskay Min­ing op­tionee SSR Min­ing drops SIB prop­erty

Stockwatch Daily - - MINES & METALS - Mr. Mac Balkam of Eskay re­ports

SSR MIN­ING Inc. has ad­vised Eskay Min­ing Corp. that it in­tends to ter­mi­nate the op­tion agree­ment orig­i­nally an­nounced in Eskay’s press re­lease dated April 26, 2017, and re­turn the SIB prop­erty to Eskay by year-end 2018. The com­pany is cur­rently an­a­lyz­ing the fi­nal re­sults of the 2018 ex­plo­ration pro­gram com­pleted by SSR Min­ing, re­ferred to in the com­pany’ s press re­lease of Oct. 19, 2018. On re­view of the data, there is strong ev­i­dence for a very ac­tive and as-yet-untested vol­canic en­vi­ron­ment in the Coul­ter Creek foot­wall, within iden­ti­cal host litholo­gies to the nearby world-class Eskay Creek de­posit. Geo­phys­i­cal and ge­o­log­i­cal modelling in­di­cates that the favourable and untested stratig­ra­phy ex­tends to the south of the area drilled, and the SIB pro­grams have demon­strated that it is well within reach.

Mac Balkam, pres­i­dent and chief ex­ec­u­tive of­fi­cer of Eskay Min­ing, stated: “While we un­der­stand that SSR Min­ing is in­tend­ing to ter­mi­nate the agree­ment, we thank them and our field crew for their sub­stan­tial com­mit­ment to ex­plo­ration at SIB (SSR Min­ing in­vested $7.7-mil­lion on the prop­erty). We are also very ex­cited by the prospect of con­tin­u­ing to ex­plore the large and un­drilled tract of Eskay-like stratig­ra­phy that un­der­lies rel­a­tively thin cover rocks across most of the SIB prop­erty, and per­haps across much of the com­pany’s im­me­di­ately ad­ja­cent Corey prop­erty to the south. The well-ex­e­cuted SSRM pro­grams have clearly shown that this area in­cludes rocks which are sim­i­lar to those host­ing the nearby Eskay Creek mine de­posits, and that they have only be­gun to be drill tested. With ex­plo­ration once again very ac­tive at the nearby Mine prop­erty, we re­main pos­i­tive about the prospects at SIB.” Ad­di­tion­ally, drilling of the Coul­ter Creek hang­ing­wall re­vealed nu­mer­ous broad in­ter­cepts of poly­metal­lic sul­fide vein­ing within sili­ci­fied vol­canic and vol­cani­clas­tic rocks, con­sis­tent with VMS (vol­canogenic mas­sive sul­phide) feeder-style min­er­al­iza­tion at en­cour­ag­ing strati­graphic po­si­tions within the com­pany’s ge­o­log­i­cal model. The com­pany is cur­rently re­view­ing all of the data in de­tail and for­mu­lat­ing fu­ture ex­plo­ration plans for this and other ar­eas at SIB. All as­say re­sults have now been re­ceived and are be­ing pre­pared and in­ter­preted for for­mal re­port­ing to SSRM. They will also be sum­ma­rized and re­ported in a forth­com­ing news re­lease.

The prop­erty un­der op­tion to SSR Min­ing rep­re­sents ap­prox­i­mately 9 per cent of the com­pany’s land pack­age in the Golden Tri­an­gle of north­west British Columbia. For fur­ther in­for­ma­tion re­gard­ing the SIB prop­erty, see the com­pany’s press re­leases of Oct. 17, 2016, Aug. 8, 2016, May 9, 2016, and Jan. 22, 2018. For fur­ther in­for­ma­tion re­gard­ing Eskay Min­ing’s prospects and show­ings at the Corey prop­erty, see the com­pany’s cor­po­rate pre­sen­ta­tion.

Charles J. Greig, PGeo, a mem­ber of the com­pany’s ad­vi­sory team, is a qual­i­fied per­son un­der the def­i­ni­tion of Na­tional In­stru­ment 43-101. Mr. Greig has re­viewed and ap­proved the tech­ni­cal in­for­ma­tion in this press re­lease.

About Eskay Min­ing Corp. Eskay is an ex­plo­ration com­pany fo­cused on the ex­plo­ration and de­vel­op­ment of pre­cious met­als and base met­als in British Columbia in a highly pro­lific, poly­metal­lic area known as the Eskay Rift belt lo­cated in the Golden Tri­an­gle, 70 kilo­me­tres north­west of Stew­art, B.C. The com­pany cur­rently holds min­eral tenures in this area com­pris­ing 177 claims (130,000 acres).

We seek Safe Har­bor.

Hugh McLellan Balkam, John Gor­don McMe­hen, Michael Robert My­hill

(ESK) Shares: 112,248,864

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