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Eskay Mining Released Assays from TV-JEFF Precious Metal-Bearing Target in British Columbia

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These assays cover 20 holes from the Jeff and TV VMS deposits on joint venture ground held with Kirkland Lake Gold, with Eskay holding 80% and Kirkland Lake Gold holding the balance of 20%. Assays include 35.5 meters grading 9.50 g/t gold and 70.0 g/t silver, including 9.25 meters grading 32.17 g/t gold and 93.2 g/t silver in hole J20-33 at Jeff.

Additional Information:

Company: Eskay Mining Corp.
Website: http://www.EskayMining.com
Stock Symbol: TSXV: ESK
Date Published: Feb 2, 2021
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Eskay Mining Corp. has released assays from its highly successful maiden diamond drill campaign at its TV-Jeff precious metal-bearing volcanogenic massive sulphide target in British Columbia.

The company currently holds mineral tenures comprised of 177 claims covering 130,000 acres along the Eskay rift in a highly prolific region of northwest British Columbia known as the "Golden Triangle," approximately 70 kilometers northwest of Stewart, BC.

Today’s assays cover 20 holes from the Jeff and TV VMS deposits on joint venture ground held with Kirkland Lake Gold, with Eskay holding 80% and Kirkland Lake Gold holding the balance of 20%.

11 holes were completed at TV and 9 at Jeff, which are situated approximately 1.5 kilometers apart.

Assays include 35.5 meters grading 9.50 g/t gold and 70.0 g/t silver, including 9.25 meters grading 32.17 g/t gold and 93.2 g/t silver in hole J20-33 at Jeff.

Although the TV and Jeff targets are approximately 1.8 km apart, and the company is interpreting these discoveries to be separate systems, interpretations of recent SkyTEM geophysical data suggests strong continuity of stratigraphy along this segment of the east limb of the Eskay Anticline.

TV and Jeff may well be geologically connected and part of a larger approximately 6 km long corridor along which numerous electrically conductive anomalies occur.

This table shows the results from the 9 holes drilled on the Jeff deposit.

High-grade gold-silver mineralization encountered in holes J20-33 and J20-34 is interpreted to represent possible feeder mineralization for an exhalative Eskay Creek type system, possibly situated somewhat higher up the stratigraphic section in close vicinity to the drill hole locations.

A 50.36 m intercept grading 1.8 g/t gold equivalent including 14.12 meters grading 4.2 g/t gold equivalent in hole J20-39 represents a significant down dip extension mineralization at Jeff.

The results from J20-39, J20-37, and J20-38 show that Jeff has stratigraphically stacked mineralized zones with significant prospectivity down-dip and along-strike, as is the case at TV.

This table show the results from the 11 holes drilled on the TV deposit.

Dr. Quinton Hennigh, Director and Technical Advisor, stated: "An impressive eighteen out of twenty drill holes we completed in a short 2020 drill program have encountered significant Au-Ag mineralized intercepts including some high-grade. We are delighted to see assays confirm visual indications that we were on to something very special at TV-Jeff. Our newest results give us lots of information required to now aggressively step out and expand upon these two precious metal-rich VMS discoveries. Two things particularly excite us. Firstly, we are starting to see very high grades like those of the Eskay Creek deposit, and although these occur in feeder mineralization at Jeff, we think the exhalative style mineralization may be lurking nearby. Secondly, although TV and Jeff are nearly 2 km apart, we see growing evidence these systems are connected and make up a greater 6 km long prospective corridor of electrically conductive geophysical anomalies thought to result from sulphide mineralization. With all data now in hand, we can lay out plans for our robust 2021 Phase II drill campaign."

These 2 figures provide zoomed in plan views of the TV and Jeff drilling with assay flags.

Eskay's 2020 drill program is the first to be undertaken in this area since the early to mid-1990's when a few scattered holes were drilled at these targets.

These discoveries confirm the presence of new Eskay Creek type massive sulphide deposits within the highly prospective Eskay graben, or geologic trough, that extends southward from the Eskay Creek deposit.

These 4 figures provide cross sectional views of drill intercepts and interpreted mineralization.

Approximately 85% of this belt occurs within Eskay Mining's tenure.

In 2020, Eskay Mining has identified numerous other VMS targets on its tenure.

The company plans an aggressive plus 30,000 meter drill program in 2021 to follow up on the TV and Jeff discoveries and to also test at least another dozen high priority drill targets.

The shares are trading at $2.25.

For more information, please visit the company’s website at www.EskayMining.com, contact Mac Balkam, President and CEO, at 416-907-4020 or email mac@EskayMining.com.

I’m Megan Edwards for Investmentpitch Media