Release – Eskay Mining Encounters 1.51 gpt Au and 25.39 gpt Ag over 43.1m and 2.84 gpt Au and 22.17 gpt Ag over 16.4m in Extensional Drilling at the TV Deposit, Consolidated Eskay Project, Golden Triangle, BC

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February 23, 2023

TORONTO, ON / ACCESSWIRE / February 23, 2023 / Eskay Mining Corp. (“Eskay” or the “Company”) (TSXV:ESK) (OTCQX:ESKYF) (Frankfurt:KN7)(WKN:A0YDPM) is pleased to announce further encouraging diamond drill results from its 2022 exploration program at its 100% controlled Consolidated Eskay Property in the Golden Triangle, British Columbia.

“Results from our 2022 exploration season demonstrate Eskay’s team has made considerable progress toward unraveling the district-scale potential of VMS mineralization surrounding the Eskay Creek deposit,” commented Dr. John DeDecker, VP of Exploration for Eskay Mining Corp. “Achievements of the 2022 exploration program include defining a new trend of VMS mineralization along the Scarlet-Tarn corridor parallel to and approximately seven kilometers east of the Eskay anticline. Tarn Lake and Scarlet Knob are situated along an east-west trending VMS feeder structure hosted by Eskay rhyolite like that seen in the footwall of the Eskay Creek deposit. Mapping and prospecting define a westward stratigraphic younging direction suggesting that stockwork and replacement-style mineralization at Tarn Lake may represent feeders to seafloor-hosted mineralization up-section towards the important Contact Mudstone horizon, host to high-grade mineralization at Eskay Creek. This recognition is a significant step towards meeting our goal of discovering new Eskay Creek-like high-grade VMS systems. Drilling at TV now shows that Au- and Ag-bearing massive sulfide extends 100 m along strike and overlies an even more extensive zone of stockwork mineralization. We are eager to follow up on all of these encouraging results in 2023.”

TV Extensional Drilling

Highlight results:

  • 4.61 gpt Au and 22.17 gpt Ag (4.89 gpt Au Eq) over 6.28m within 2.84 gpt Au and 22.17 gpt Ag (3.13 gpt Au Eq) over 16.36m in hole TV22-105
  • 2.66 gpt Au and 30.45 gpt Ag (3.05 gpt Au Eq) over 10.56m within 1.51 gpt Au and 25.39 gpt Ag (1.83 gpt Au Eq) over 43.09m in hole TV22-120
  • 3.36 gpt Au and 109.50 gpt Ag (4.76 gpt Au Eq) over 2.00m within 1.14 gpt Au and 30.40 gpt Ag (1.53 gpt Au Eq) over 30.56m in hole TV22-97
  • 6.88 gpt Au and 21.00 gpt Ag (7.15 gpt Au Eq) over 1.10m within 1.28 gpt Au and 87.92 gpt Ag (2.41 gpt Au Eq) over 14.95m in hole TV22-109

Drilling at TV in 2022 expanded the footprint of both the Upper Massive Sulfide Zone and Stockwork Zone at TV (Figures 1, 2 and 3). Massive sulfide mineralization now extends approximately 100 m along strike, ranges from 5 to 10 m in thickness, and is characterized by sulfide lenses hosted by intensely silicified carbonaceous mudstone associated with peperitic dacite (Figures 4 and 5). Massive and semi-massive sulfide mineralization overlies an extensive stockwork feeder zone hosted by dacitic and andesitic breccia and peperite. Stockwork mineralization now extends approximately 175 m along strike, 175 m down dip, and ranges in thickness from 50 to 100 m. Significantly, drill holes testing the up-dip extent of the stockwork zone (TV22-106, 108, and 112) intercepted strongly anomalous Au and Ag values with interspersed values over 1 gpt Au equivalent. Rock chip samples collected from the vicinity of these drill holes suggest that this up-dip zone may contain higher grade pockets of Au and Ag mineralization (Figure 2).

Significant mineralized intervals from 2022 drill holes completed in the vicinity of the TV deposit are presented in the table below. A complete list of the coordinates of drill holes including holes without significant mineralized intercepts is found at the bottom of this release.

HoleFrom (m)To (m)Length (m)Au (gpt)Ag (gpt)Au Eq (gpt)Ag Eq (gpt)
TV22-88133.30135.001.701.221.221.2496.38
TV22-9795.44126.0030.561.1430.401.53119.68
includes114.00116.002.003.36109.504.76371.58
TV22-9988.7293.604.880.7023.501.0078.17
97.64103.345.701.7719.462.02157.82
includes102.55103.340.798.8523.009.14713.30
TV22-10586.72103.0816.362.8422.173.13243.78
includes86.7293.006.284.6122.174.89381.59
and96.00101.005.002.3925.402.71211.66
TV22-1062.564.602.041.692.381.72134.20
24.9126.912.000.7817.501.0078.30
TV22-1084.206.992.791.946.002.02157.32
15.0018.003.001.332.171.36105.76
TV22-10950.0565.0014.951.2887.922.41188.00
includes50.0551.151.106.8821.007.15557.64
and57.5863.235.651.03173.123.25253.38
TV22-11072.2788.9516.681.4419.621.69131.55
TV22-11151.5658.787.220.4592.991.64127.96
includes54.8356.511.680.87309.004.84377.21
TV22-1120.007.007.000.759.310.8768.05
includes4.005.001.003.578.183.67286.64
TV22-120127.79170.8843.091.5125.391.83142.83
includes130.18131.000.824.1915.004.38341.82
and136.58147.1410.562.6630.453.05238.18
TV22-12195.0097.182.180.13121.871.69131.82
128.31132.003.691.2740.311.79139.37

Au Eq and Ag Eq values have all been adjusted to the silver-to-gold ratio of 78:1 for this news release.

Tarn Lake

Assay results from the maiden drill program at Tarn Lake have already defined an 80m-long open-ended trend of Au mineralization that dips west-northwest (Figures. 1, 7 and 8). Rock chip sample results suggest that Au mineralization extends up-dip from the drill holes to the surface. Mineralization remains open down-dip.

Sulfide mineralization intercepted by drilling is dominantly replacement-style and stockwork-style (Figure 9), and is hosted by intensely altered Eskay rhyolite. This style of mineralization and intense hydrothermal alteration are consistent with a position in the immediate sub-seafloor environment of a VMS feeder zone. Geological mapping, drilling, and lithological facies analyses show extensive rhyolite-bearing volcaniclastic debris flow beds, peperitic rhyolite, and flow-banded rhyolite defining a rhyolite dome complex that formed at a paleoseafloor position proximal to a syn-volcanic VMS feeder structure, supporting the interpretation based on mineralization and alteration. Based on this geology, Eskay’s exploration team thinks there is considerable potential for the presence of seafloor-hosted VMS mineralization at one or more horizons at Tarn Lake, as is seen along the parallel Eskay Creek-Sib-Lulu trend to the west (Figure 10).

Eskay’s geological mapping team has determined that the stratigraphic younging direction along the Scarlet-Tarn trend is to the west, and that the contact between the Eskay rhyolite and the Willow Ridge basalt lies to the west of Tarn Lake (Figure 10). The contact between these lithologies defines the Contact mudstone horizon that hosts the world-class Au-Ag mineralization at Eskay Creek Mine. Given that recent rock chip sampling indicates Au mineralization continues west of Tarn Lake, it is possible the Tarn VMS system continues up-stratigraphy to the Contact mudstone horizon. These findings are a significant step towards our goal of finding Eskay Creek-like VMS deposits on the Consolidated Eskay Property.

In addition to the potential for Au and Ag mineralization down-dip and up-section from 2022 drilling, there is considerable potential for mineralization to extend beneath Bruce Glacier to Scarlet Knob along east-west trending feeder structures (Figure 11). These feeder structures are delineated by andesite dikes surrounded by sulfide mineralization and intense hydrothermal alteration of the host Eskay rhyolite.

Significant drill results from hole TN22-8 completed at Tarn Lake are presented in the table below.

HoleFrom (m)To (m)Length (m)Au (gpt)Ag (gpt)Au Eq (gpt)Ag Eq (gpt)
TN22-890.1992.882.690.7529.001.1287.50
117.33123.005.671.373.371.41110.00
133.53139.726.191.462.131.49116.16
158.04161.002.961.274.111.32102.78

Au Eq and Ag Eq values have all been adjusted to the silver-to-gold ratio of 78:1 for this news release.

2022 Exploration Program

The fundamental goal of the 2022 exploration program was to identify new precious metal-rich VMS deposits across the Consolidated Eskay Project through early-stage work including mapping and geochemical sampling, and more advanced work including widely spaced drilling. During the 2022 exploration season, Eskay Mining successfully completed 29,500m of diamond drilling along the TV-Jeff corridor and along the Scarlet Ridge-Tarn Lake trend.

Drill results discussed in this news release come from holes drilled in the vicinity of the TV deposit and the newly discovered Tarn Lake mineralizing system. As of this news release, all assays have returned from the 2022 drill program.

Au Eq and Ag Eq Calculations and True Width:

Note on use of Au eq (Au eq=Au+Ag/78) and Ag eq (Ag eq=Au*78+Ag): Mineralization at the TV and Jeff deposits displays similar characteristics and mineralogy to the Eskay Creek deposit and therefore for Au eq, and Au:Ag, a ratio of 78:1 is used and Au eq and Ag eq values are deemed to be reasonable based on assumed gold recovery (84.2%) and silver recovery (87.3%) as reported in the Eskay Creek Project NI 43-101 Technical Report and Prefeasibility Study, British Columbia, Canada, Effective Date: 22 July, 2021, Prepared for: Skeena Resources Ltd., Prepared by: Absence Engineering Canada Inc.

True widths of reported intercepts are not fully understood at this time but given the moderately dipping tabular nature of these deposits and the steep angle of drilling, Eskay geologists estimate true widths represent approximately 70-90% of the reported drill intercept lengths.

QA/QC, Methodology Statement:

Halved HQ drill core samples are submitted to ALS Geochemistry in Terrace, British Columbia for preparation and analysis. ALS is accredited to the ISO/IEC 17025 standard for gold assays. All analytical methods include quality control standards inserted at set frequencies. The entire sample interval is crushed and homogenized, 250 g of the homogenized sample is pulped. All samples were analyzed for gold, silver, mercury, and a suite of 48 major and trace elements. Analysis for gold is by fire assay fusion followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) on 30 g of pulp. Analysis for silver is by fire assay and gravimetric analysis on 30 g of pulp. Mercury is analyzed using the trace Hg Inductively Coupled Plasma Mass Spectroscopy (ICP-MS) method. All other major and trace elements are analyzed by four-acid digestion followed by ICP-MS.

Historical rock chip sample data is sourced from Assessment Report AR19675 by Granges dated February 7, 1990. Eskay Mining is unable to fully verify this data, and it should be treated as such by the reader.

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 BalkamT: 416 907 4020
President & Chief Executive OfficerE: 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.

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Eskay Mining Corp. (ESKYF) – Exploration Reveals New Precious Metal Rich VMS System at Scarlet Knob-Tarn Lake


Thursday, January 19, 2023

Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

2022 exploration program. The goal of Eskay Mining’s 2022 exploration program was to identify new precious metal-rich volcanogenic massive sulfide (VMS) deposits across its Consolidated Eskay Project based on mapping and geochemical sampling, along with more advanced work including widely-spaced drilling. During the 2022 exploration season, Eskay Mining completed 29,500 meters of diamond drilling along the TV-Jeff corridor and along the Scarlet Ridge-Tarn Lake Trend.

New precious metal-rich VMS system. Through its exploration work at Scarlet Knob-Tarn Lake, the company confirmed the presence of a second major trend of gold and silver-rich VMS mineralization at the northern end of the Eastern anticline which runs parallel to the Eskay anticline that hosts the Eskay Creek deposit located approximately seven kilometers to the west. Additionally, management thinks Tarn Lake and Scarlet Knob may be connected.


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Eskay Mining Corp. (ESKYF) – Highlights from the 2022 Drill Program


Friday, December 16, 2022

Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

2022 exploration and drilling program. The 2022 exploration program focused on identifying new precious metal-rich volcanogenic massive sulphide (VMS) deposits, often found in district scale clusters, across the Consolidated Eskay project. Much of the focus was on defining the extent of VMS systems along the eastern and western limbs of the Eskay Anticline. Eskay Mining completed 29,500 meters of diamond drilling along the TV-Jeff corridor and along the Scarlet Ridge-Tarn Lake trend.

Assay results released. Eskay Mining released assay results for 42 holes drilled along the TV-Jeff corridor, including north of the Jeff deposit. Assays returned from holes completed in areas close to the TV deposit yielded significant intercepts of gold and silver mineralization. Wide-spaced drilling approximately 800 meters north of Jeff encountered a new zone of mineralization that yielded high-grade gold and silver values, some within longer intervals of lower grade mineralization. The company is awaiting assay results from maiden drilling in the Scarlet Valley-Tarn Lake area where several new VMS targets were drill tested in 2022.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – Eskay Mining Reaches Drilling Goal as the 2022 Exploration Campaign Nears Completion

Research, News, and Market Data on ESKYF

October 7, 2022

TORONTO, ON / ACCESSWIRE / October 7, 2022 / Eskay Mining Corp. (“Eskay” or the “Company”) (TSXV:ESK) (OTCQX:ESKYF) (Frankfurt:KN7)(WKN:A0YDPM) is pleased to announce it has completed 29,500 m of diamond core drilling substantially fulfilling its planned meterage for the 2022 property wide exploration campaign. Over the past four months, drilling has been conducted at multiple volcanogenic massive sulfide (“VMS”) targets including Jeff, Jeff North, Scarlet Ridge, Scarlet Valley, and Tarn Lake. Drilling has now been completed and the Company is currently demobilizing.

“As the 2022 exploration season is drawing to a close, we have met all of our primary objectives,” commented Dr. John DeDecker, Eskay Mining’s VP of Exploration. “We have now drill tested the full extent of the TV-Jeff trend, conducted systematic mapping and extensive rock chip sampling of the Scarlet Ridge-Tarn Lake trend, and conducted exploratory drilling at three highly prospective and previously undrilled targets, Scarlet Ridge, Scarlet Valley and Tarn Lake. Our prospecting and mapping teams have also conducted reconnaissance level work at Spearhead, Vermillion, Tet, SIB-Lulu, Excelsior, and Harrymel Valley, laying the groundwork for an expansive push to drill test numerous additional targets in 2023. “

Step-out drilling of the Upper Massive Sulfide Zone has confirmed that semi-massive and massive sulfide mineralization overlies the entire stockwork zone at TV thus significantly expanding the along-strike and down-dip extent of this important body of mineralization.

Maiden drilling at Scarlet Valley and Tarn Lake yielded core displaying intense stockwork and replacement-style sulfide mineralization and hydrothermal alteration focused along east-west trending andesite dikes. Replacement-style mineralization and hydrothermal alteration of volcaniclastic debris flow breccia at Scarlet Valley provide an encouraging sign that the VMS feeder structures may have fed laterally extensive replacement-style mineralization along favorable stratigraphic horizons.

Highlights from TV Drilling:

  • Drilling at TV, the last to be undertaken this season, focused on extensions of the Upper Massive Sulfide Zone discovered in 2021. Drill holes TV22-105, 107, 109, 110, 111, and 113 target areas east and up-section from the large stockwork zone defined by drilling in 2021 (Figure 1). All of these holes have intercepted semi-massive to massive sulfide over intervals ranging from 4-18 meters and tens of meters of additional footwall replacement-style and stockwork sulfide mineralization hosted by andesite and dacite breccia, and silicified mudstone (Figures 2-4).
  • Extensions of the Upper Massive Sulfide Zone overlie intensely silicified mudstones in the stockwork zone, consistent with a near-seafloor position.
  • Handheld XRF analyses of massive and semi-massive sulfides hosted by carbonaceous mudstone display strongly anomalous concentrations of pathfinder elements Ag, As, and Sb; stockwork mineralization displays strongly elevated levels of pathfinder elements As and Sb; and readings from massive sulfide display very high concentrations of pathfinder elements Ag, As, and Sb. Handheld XRF cannot reliably measure Au concentrations.

Highlights from Tarn Lake Drilling:

  • Drilling at Tarn Lake focused on a large gossanous outcrop associated with visible sulfide and sulfosalt mineralization hosted within Eskay rhyolite (Figure 5). Sulfide mineralization is focused around east-west trending andesitic dikes that are interpreted to have exploited the same syn-volcanic structure that fed VMS forming fluids. Nine drill holes were completed at Tarn Lake.
  • Hole TN22-10 intercepted approximately 10 m of semi-massive replacement style mineralization (Figures 6 and 7), and ubiquitous disseminated sulfide mineralization associated with sulfide stockwork (Figure 7).
  • Early results show pervasive stockwork and disseminated sulfide mineralization in all drill holes completed at Tarn Lake. Handheld XRF readings display very high concentrations of pathfinder elements Ag, As, and Sb within stockwork and semi-massive and massive sulfide mineralization. Handheld XRF cannot reliably measure Au concentrations.
  • Rhyolite-hosted sulfide mineralization at Scarlet Knob, situated approximately 1 km to the northeast of Tarn Lake, is likely structurally offset from the Tarn Lake VMS system, displaced along a dextral shear zone.

Highlights from Scarlet Valley Drilling:

  • Drilling at Scarlet Valley (Figure 8) targeted a large east-west trending gossan associated with intense stockwork sulfide mineralization. Mineralization is focused along east-west trending andesite dikes that crosscut volcaniclastic debris flow breccia. Debris flow breccia in the western part of Scarlet Valley contains rhyolite clasts, while debris flow breccia to the east is dominated by andesite clasts. Both andesite and the debris flow breccia exhibit replacement-style sulfide mineralization (Figures 9-13), in some cases, sulfide replacement being intense.
  • Core from hole SV22-05 displays intense silicification and sulfide replacement of volcaniclastic debris flows, a promising sign that permeable sedimentary horizons may host lateral extensions of replacement-style mineralization.
  • Handheld XRF analyses of sulfide minerals in drill core display high concentrations of pathfinder elements Ag, As, and Sb. Handheld XRF cannot reliably measure Au concentrations.

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
President & Chief Executive Officer
T: 416 907 4020
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.

(Figure 1: Section of TV showing locations of 2022 drill holes. Drilling focused on targeting along-strike, up-dip, and down-dip extensions of the stockwork zone and massive sulfide horizons discovered in 2020-2021.

(Figure 2: TV22-109 56.84-63.80 m showing an intercept of ~6 m of massive sulfide underlain by a fault hosted by carbonaceous mudstone. Most massive sulfide at TV is fault bounded on the bottom, with a few meters of mixed and broken massive sulfide and carbonaceous mudstone before the stockwork zone is intercepted. Handheld XRF analyses of the massive sulfide show very high concentrations of the Au pathfinder elements Ag, As, and Sb. Handheld XRF cannot reliably measure Au concentrations.TV22-109 101.12-110.87 shows a typical intercept of the replacement-style mineralization hosted by andesite breccia.)

(Figure 3: TV22-111 52.0-61.13 m showing a mudstone-hosted massive sulfide intercept. Sulfide mineralization begins ~10 m above the massive sulfide horizon, and is characterized by ~20% pyrite hosted within sheared peperitic andesite and dacite. The massive sulfide is underlain by faulted mudstone and andesite breccia, both of which contain appreciable sulfide mineralization. Handheld XRF analyses of the massive sulfide show very high concentrations of the Au pathfinder elements Ag, As, and Sb. Handheld XRF cannot reliably measure Au concentrations.)

(Figure 4: TV22-110 78.04-87.91 showing stockwork sulfide mineralization hosted by intensely silicified mudstone. Handheld XRF analyses of sulfides hosted by silicified mudstone invariably show very high concentrations of the Au pathfinders Ag, Sb, and As. Handheld XRF cannot reliably measure Au concentrations. TV22-110 123.79-131.20 showing a sheared andesite breccia hosting replacement-style sulfide mineralization.)

(Figure 5: Map showing the drill traces for Tarn Lake shown with drone imagery of gossanous rhyolite focused around east-west trending andesite dikes.)

(Figure 6: TN22-10 90.83-100.0 m showing semi-massive replacement style sulfide mineralization hosted by Eskay rhyolite. This interval shows consistently high concentrations of the pathfinder elements Ag, As, and Sb.)

(Figure 7: TN22-10 94.50-94.60 showing a close-up of semi-massive replacement-style mineralization hosted by rhyolite breccia. This type of sulfide mineralization shows the highest pathfinder element concentrations. TN22-10 123.85-123.95 showing stockwork sulfide and vesicle-hosted disseminated sulfide mineralization. This style of mineralization is ubiquitous at Tarn Lake. Accurate handheld XRF analyses of disseminated mineralization is impossible given the small size of the disseminations and consequent mixed analyses of sulfide and host silicate material. Analyses of larger stockwork veins throughout the Tarn Lake drill holes shows the presence of Ag, suggesting that disseminated sulfides may host Ag as well.)

Figure 8: Map showing the drill traces for Scarlet Valley shown with drone imagery of gossanous rhyolite-bearing volcaniclastic debris flow deposits focused along east-west trending andesite dikes.

Figure 9: SV22-05 at approximately 21.5 m showing moderate sulfide replacement of both the groundmass and clasts of a volcaniclastic debris flow breccia. This observation shows that sulfide mineralization occurred after the deposition of the debris flow breccia. Volcanic clasts are andesitic in composition.

Figure 10: SV22-05 at approximately 37 m showing progression from a mineralized volcaniclastic debris flow breccia with a carbonaceous mudstone groundmass, to an intensely clay altered and silicified debris flow breccia with patchy sulfide replacement. Volcanic clasts are andesitic in composition.

Figure 11: SV22-05 from approximately 55-57.5 m showing variably intense sulfide replacement of the host volcaniclastic debris flow breccia. This rock is intensely silicified and variably clay altered, with the lighter colored rock being more intensely clay altered.

Figure 12: SV22-05 at approximately 84.8-87 showing an andesite dike adjacent to a faulted mudstone (top row), followed by a volcaniclastic debris flow breccia with large perlitic andesite clast and other andesitic fragments. Sulfide mineralization is hosted by fine fractures within the andesite, but is more widespread in the more permeable debris flow breccia, highlighting the potential for such horizons to host lateral extensions of replacement-style mineralization.

Figure 13: SV22-05 at approximately 155.8 m showing intense clay alteration and sulfide replacement of an andesitic hyaloclastic breccia. Clasts fit together well, precluding a sedimentary origin. Sulfide minerals are preferentially replacing the cores of larger breccia fragments, and infilling between hyaloclastic fragments.

SOURCE: Eskay Mining Corp.



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