Eskay Mining Corp. announced it has received very encouraging assay results from its 2023 diamond drill and exploration campaign at its 100% controlled Consolidated Eskay Gold Project in the Golden Triangle of British Columbia. Precious metal-rich volcanogenic massive sulfide (VMS) deposits are the focus of Eskay's exploration.

Cumberland VMS Discovery: Nine short diamond core holes were completed at the Cumberland Showing in 2023 (Figure 2), several of which encountered very promising precious and base metal-rich stockwork and massive mineralization. Notable results include: 3.02 gpt Au, 68.66 gpt Ag, 0.24% Cu, 0.73% Pb and 4.86% Zn (6.28 gpt AuEq) over 15.00m including 8.48 gpt Au, 103.27 gpt Ag, 0.23% Cu, 1.08% Pb and 4.16% Zn (12.02 gpt AuEq) over 3.41m in hole CBL23-28. 1.21 gpt Au, 29.22 gpt Ag, 0.12% Cu, 0.32% Pb and 2.94% Zn (2.96 gpt AuEq) over 22.52m including 3.45 gpt Au, 108.21 gpt Ag, 0.65% Cu, 0.54% Pb and 19.40% Zn (13.24 gpt AuEq) over 1.75m in hole CBL23-29.

0.68 gpt Au, 15.72 gpt Ag, 0.07% Cu, 0.27% Pb and 0.90% Zn (1.39 gpt AuEq) over 45.67m in hole CBL23-30. 0.95 gpt Au, 29.04 gpt Ag, 0.07% Cu, 0.29% Pb and 1.31% Zn (2.00 gpt AuEq) over 61.23m including 1.57 gpt Au, 58.80 gpt Ag, 0.16% Cu, 0.60% Pb and 3.13% Zn (3.91 gpt AuEq) over 20.08m in hole CBL23-31. Cumberland lies approximately 6km due south of the TV deposit and is similarly situated along the east side of the Eskay anticline.

Eskay's geologic team thinks this discovery opens up considerable exploration potential in areas between Cumberland and the TV-Jeff VMS complex. It is notable that mineralization at Cumberland displays very high base metals, an indicator of high formational fluid temperatures, a potential sign that this area lies in proximity to a major feeder vent or vents. Based upon data from this limited first phase drill program, the Cumberland VMS deposit is interpreted to be tabular with a N-S orientation and a near vertical dip, perhaps slightly overturned.

It remains open along strike and at depth. A review of historic soil data from areas up to 1.5 km south of Cumberland indicates a broad area of strongly anomalous geochemistry, especially elevated silver values, confirming a likely extension of mineralization in this direction. Eskay's geologic team observed significant outcropping sulfide mineralization while conducting traverses in this region south of Cumberland.

While prospecting late in the season, a notable area of outcropping sulfide mineralization was observed approximately 2.5 km to the northeast of Cumberland and is potentially part of the same VMS system. This area has been named Mahogany Ridge. Historic rock chip sample data from the broader Cumberland trend includes samples grading 25.0, and 27.9 gpt Au.

Given the strong drill and rock chip sample results from the Cumberland-Mahogany Ridge area, Eskay Mining views this discovery as a high priority exploration target. Compelling evidence is emerging that the corridor starting at TV-Jeff in the north through Mahogany Ridge and Cumberland and continuing a further 1.5km south of Cumberland is highly prospective for further precious metal-rich VMS discoveries. Eskay Mining thinks this corridor requires urgent follow up work including drilling in 2024.