Monday, October 10, 2022
Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.
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2022 drilling program draws to a close. Eskay Mining has completed 29,500 meters of diamond drilling during its 2022 property-wide exploration and drilling program. During the past four months, drilling tested multiple volcanogenic massive sulfide (VMS) targets, including Jeff, Jeff North, Scarlet Ridge, Scarlet Valley, and Tarn Lake. Step-out drilling of the Upper Massive Sulfide Zone confirmed that semi-massive and massive sulfide mineralization overlays the entire stockwork zone at TV, expanding the along-strike and down-dip extent of mineralization.
Key take-aways. During the 2022 season, Eskay accomplished its primary objectives, including drill testing the full extent of the TV-Jeff trend, systematic mapping and extensive rock chip sampling of the Scarlet Ridge-Tarn Lake trend, and maiden exploratory drilling at Scarlet Ridge, Scarlet Valley, and Tarn Lake. We think the company is well on its way toward affirming that its unexploited land package surrounding the prolific past-producing Eskay Creek Mine may host multiple VMS deposits with significant high-grade gold and silver resource potential.
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