Name of the Project
Eskay Creek gold/silver project.

Location
Tahltan Territory, in the Golden Triangle of north-west British Columbia, Canada.

Project Owner/s
Skeena Resources.

Project Description
A definitive feasibility study (DFS) has demonstrated a robust project with industry-leading economics for a conventional openpit mining and milling operation.

Openpit mining will follow down slope of the ridge where the deposit is located. The north pit will comprise ten phases, while the south pit will be developed as a single phase. 

The project will have a processing life of about 12 years producing 2.8-million ounces of gold, 3.94-million ounces of gold equivalent and 81.14-million ounces of silver over the life-of-mine.

The DFS outlines an average production profile of 455 000 gold equivalent ounces in the first five years of operation. In Years 1 to 5, three-million tonnes a year will be processed. A pebble crusher will be added in Year 3 to maintain production when harder ore is processed in Year 4.

An expansion will be completed in Year 5 to increase processing capacity to 3.5-million tonnes a year when harder and lower-grade ore is processed, starting in Year 6. Only minor upgrades will be required to the processing plant equipment list, as most of the major equipment items, such as the mills, are presized for this higher throughput and harder ore. Mill-motor footprints will be capable of having larger electrical motors installed at that time.

Run-of-mine material will be trucked from the openpits and either stockpiled or directly fed into the primary crusher.

Potential Job Creation
The project will create more than 800 direct jobs and potentially 2 000 jobs for outside service and contract organisations.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 5% discount rate, of C$3.11-billion and an internal rate of return of 53.1%, with a payback of 1.1 years.

Capital Expenditure
Preproduction capital is estimated at C$713-million, and expansion capital at C$9-million.

Planned Start/End Date
The project is expected to enter operation in 2027.

Latest Developments
Skeena Resources has announced a financing package of $750-million, equivalent to more than C$1-billion, for the development, construction and working capital required for the project.

The funding package with Orion Resource Partners significantly derisks the project as the company progresses Eskay Creek towards production in the first half of 2027.

With funding committed, Skeena is working towards finalising the 2024 early works programmes and detailed engineering plans.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Skeena Resources, tel +1 604 684 8725 or email info@skeenaresources.com.