Eskay Mining’s 'Boots-on-the-Ground' Campaign Yields Multiple New High-Grade Gold Targets for Drilling in 2025

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TORONTO, ON / ACCESSWIRE / October 8, 2024 / Eskay Mining Corp. ("Eskay" or the "Company") (TSXV:ESK)(OTCQX:ESKYF)(Frankfurt:KN7) (WKN: A0YDPM) is pleased to announce results from it 2024 prospecting campaign. Areas of focus included newly identified outcropping high-grade gold veins located in the southern portions of the Company's 100% controlled Consolidated Eskay property (the "Property"). Areas that were prospected are shown in Figure 1.

Mac Balkam, CEO & President of Eskay Mining, stated, "over the past 5 years Eskay has undertaken a property wide multi faceted exploration program identifying numerous VMS systems and building a wealth of geological data. Our 2024 prospecting program was commissioned to establish a short list for a significant 2025 discovery. The assay results from our prospecting surpassed expectations and in particular, the high grade outcrop gold/ silver assays along a 3km stretch of the C-10 -Vermillion-TM belt is a very promising drill area, among others, for 2025."

Southern Region

In 2020, Eskay conducted BLEG stream sediment sampling across many parts of the Property with promising gold anomalies coming from multiple watersheds, especially in the south (please refer to a Company news release dated Feb. 25, 2021 for more details). Early interpretation of this data postulated that these anomalous basins might host precious metal-rich volcanogenic massive sulfide ("VMS") deposits, especially when outcrops of VMS mineralization were discovered the subsequent year. Drill testing of these targets failed to yield significant precious metal values leaving this anomalism unexplained.

Prospecting and sampling in 2024 at C10-Vermillion as well as a new area near Ted Morris Glacier ("TM Zone") has resulted in the discovery of numerous high-grade quartz-carbonate-sulfide veins and stockwork veining in shear zones. These are now strongly viewed as the likely source of the prolific gold anomalies in BLEG samples in this area ( Figure 2 ). A close-up photo of high-grade quartz-carbonate-sulfide vein material is shown in Figure 3 . Because of the strong similarities in vein styles identified at C10, Vermillion and the TM Zone, Eskay takes the view that these areas are part of the same mineralizing event and that it is likely that more prospecting could lead to the discovery of more such veins.

Highlights from C10-Vermillion

  • One hundred two rock chip and float samples collected at C10 and Vermillion yielded Au grades ranging from less than 5 ppb to 205 gpt with 20 samples yielding results over 1 gpt Au ( Figure 4 ).

  • Notable high-grade spot and float vein samples from C10 and Vermillion include:

    • 205 gpt Au, 118 gpt Ag, 0.7% Cu

    • 75.2 gpt Au, 371 gpt Ag, 1.6% Cu

    • 72.7 gpt Au, 79.2 gpt Ag, 1.8% Cu

    • 63.3 gpt Au, 165 gpt Ag, 0.6% Cu

    • 40.6 gpt Au, 43.5 gpt Ag, 1.4% Cu

    • 33.1 gpt Au, 259 gpt Ag, 10.3% Cu

    • 32.5 gpt Au, 14.45 gpt Ag, 0.3% Cu

    • 24.5 gpt Au, 131 gpt Ag, 0.3% Cu

    • 21.7 gpt Au, 19.45 gpt Ag

    • 19.3 gpt Au, 3.3 gpt Ag

    • 17.0 gpt Au, 11.6 gpt Ag

    • 15.95 gpt Au, 55.9 gpt Ag, 2.85% Cu

  • Copper occurs as chalcopyrite and bornite in the sulfide assemblage of many samples. This association suggests these veins are possibly associated with a porphyry at depth. Bismuth is moderately to strongly elevated, 0.02-3820 ppm, in samples containing over 1 gpt Au.