Eskay Mining Corp. announced discovery of a new volcanogenic massive sulfide center at Jeff North as well as recent drill intercepts of polymetallic mineralization in two areas along the TV-Jeff corridor, part of its 100% controlled Consolidated Eskay project, British Columbia. As of this release, over 13,000m of diamond drilling has been undertaken in numerous drill holes along 3.7km of strike at TV-Jeff.

Diamond drilling also continues at the Scarlet Ridge area, subject of a Company news release dated July 27, 2022. To date, the Company has completed approximately 15,600m of diamond core drilling, approximately 52% of the 30,000m planned to be completed in 2022. Drill production remains on target to reach this aggressive goal with four drills fully operational.

Drilling at Jeff North targeted a large conductive SkyTEM anomaly coincident with a ridge of silicified peperitic basalt displaying strong Ag-in-soil anomalies from samples collected during the 2021 program. Strong VMS stockwork mineralization encountered in recent drilling at Jeff North lies 600m north of Jeff and extends at least 700m northwards along strike remaining open to the north. Some stockwork intervals are distinctly polymetallic displaying abundant sphalerite and chalcopyrite in addition to the ubiquitous pyrite.

This mineralogy coupled with the presence of strong pathfinder elements including Ag, As, Sb, Cu, Zn, and Pb as detected by handheld XRF provide encouragement for presence of Au and Ag, both of which must be assayed for accurate measurement. Core is being logged, split and sampled in preparation for submittal for assaying. Drilling has commenced at TV focusing on expanding upon the core body of mineralization identified in 2021 drilling.

Planned drill holes will test extensions of TV mineralization further down-dip, along strike to the north and south, and up stratigraphic section. Testing of nearby IP-resistivity and SkyTEM targets is also scheduled. Based on past success of targeting VMS mineralization using SkyTEM and soil data at Jeff North, Jeff, and TV, the Eskay team is optimistic that a cluster of SkyTEM conductivity highs surrounding TV will lead to discovery of additional VMS mineralization.

The first 2022 drill hole at TV, TV22-84, intercepted approximately 40m of stockwork sulfide mineralization 65m down-dip from TV21-54, a very promising indication the system remains open in this direction. To date, Eskay Mining has completed approximately 15,600m of diamond core drilling, approximately 52% of the 30,000m planned for 2022. Thus far, drilling has occurred around the area called Jeff North, Scarlet Ridge and now, at TV.

At present, four drills are fully operational and drill production is on track to reach Eskay's aggressive goal of 30,000 m.