Eskay Mining announces completion of summer exploration program

Eskay Mining announced that its summer exploration program, as reported in a Company press release dated June 24th, 2024, has been completed. Geologist Ken McNaughton, leader of the team at Pretium Resources during the discovery of the Brucejack deposit, led Eskay’s 2024 program and reported that he and his team are pleased that much of this summer’s ground truthing has led to significant insight into the property’s potential as well as targets for future drilling and other exploration. McNaughton and team explored areas including Storie Creek, Scarlett Knob, Tarn Lake south to Tarn Creek, C-10 extending along the margin of Mandy Glacier, Vermillion and areas parallel to Mandy Creek, Maroon Cliffs, SIB/Lulu, TV, Cumberland and Ted Morris. Particular focus was given to ground review of historical high grade rock chip samples. During the summer program, 363 rock samples were collected and submitted to the laboratory for analysis. Assay results are expected back by early September and are anticipated to aid in identifying future drilling targets. The Company, pending completion of its database update, expects to engage an independent resource modeler to prepare a maiden resource estimate for its 100% controlled TV, Jeff and SIB/ Lulu deposits. Mac Balkam, CEO & President of Eskay Mining, stated, “Because of the recent depressed market for mineral exploration companies, we decided to be financially prudent and hold off on undertaking a drill program this season. McNaughton’s team, with the new data gained from this summer’s program, thinks that Eskay Mining can pursue an aggressive exploration and drilling program in 2025 once capital markets have improved. Our keen financial management has left us in the strong position of having over $2.5 million in cash, cashable instruments and government resource credits at a time when the exploration industry is generally cash starved.”