TORONTO - Eskay Mining Corp. ('Eskay' or the 'Company') (TSXV:ESK) (OTCQX:ESKYF) (Frankfurt:KN7)(WKN:A0YDPM) is pleased to announce it has completed 29,500 m of diamond core drilling substantially fulfilling its planned meterage for the 2022 property wide exploration campaign. Over the past four months, drilling has been conducted at multiple volcanogenic massive sulfide ('VMS') targets including Jeff, Jeff North, Scarlet Ridge, Scarlet Valley, and Tarn Lake. Drilling has now been completed and the Company is currently demobilizing.
'As the 2022 exploration season is drawing to a close, we have met all of our primary objectives,' commented Dr. John DeDecker, Eskay Mining's VP of Exploration. 'We have now drill tested the full extent of the TV-Jeff trend, conducted systematic mapping and extensive rock chip sampling of the Scarlet Ridge-Tarn Lake trend, and conducted exploratory drilling at three highly prospective and previously undrilled targets, Scarlet Ridge, Scarlet Valley and Tarn Lake. Our prospecting and mapping teams have also conducted reconnaissance level work at Spearhead, Vermillion, Tet, SIB-Lulu, Excelsior, and Harrymel Valley, laying the groundwork for an expansive push to drill test numerous additional targets in 2023. '
Step-out drilling of the Upper Massive Sulfide Zone has confirmed that semi-massive and massive sulfide mineralization overlies the entire stockwork zone at TV thus significantly expanding the along-strike and down-dip extent of this important body of mineralization.
Maiden drilling at Scarlet Valley and Tarn Lake yielded core displaying intense stockwork and replacement-style sulfide mineralization and hydrothermal alteration focused along east-west trending andesite dikes. Replacement-style mineralization and hydrothermal alteration of volcaniclastic debris flow breccia at Scarlet Valley provide an encouraging sign that the VMS feeder structures may have fed laterally extensive replacement-style mineralization along favorable stratigraphic horizons.
Highlights from TV Drilling:
Drilling at TV, the last to be undertaken this season, focused on extensions of the Upper Massive Sulfide Zone discovered in 2021. Drill holes TV22-105, 107, 109, 110, 111, and 113 target areas east and up-section from the large stockwork zone defined by drilling in 2021 (Figure 1). All of these holes have intercepted semi-massive to massive sulfide over intervals ranging from 4-18 meters and tens of meters of additional footwall replacement-style and stockwork sulfide mineralization hosted by andesite and dacite breccia, and silicified mudstone (Figures 2-4).
Extensions of the Upper Massive Sulfide Zone overlie intensely silicified mudstones in the stockwork zone, consistent with a near-seafloor position.
Handheld XRF analyses of massive and semi-massive sulfides hosted by carbonaceous mudstone display strongly anomalous concentrations of pathfinder elements Ag, As, and Sb; stockwork mineralization displays strongly elevated levels of pathfinder elements As and Sb; and readings from massive sulfide display very high concentrations of pathfinder elements Ag, As, and Sb. Handheld XRF cannot reliably measure Au concentrations.
Highlights from Tarn Lake Drilling:
Drilling at Tarn Lake focused on a large gossanous outcrop associated with visible sulfide and sulfosalt mineralization hosted within Eskay rhyolite (Figure 5). Sulfide mineralization is focused around east-west trending andesitic dikes that are interpreted to have exploited the same syn-volcanic structure that fed VMS forming fluids. Nine drill holes were completed at Tarn Lake.
Hole TN22-10 intercepted approximately 10 m of semi-massive replacement style mineralization (Figures 6 and 7), and ubiquitous disseminated sulfide mineralization associated with sulfide stockwork (Figure 7).
Early results show pervasive stockwork and disseminated sulfide mineralization in all drill holes completed at Tarn Lake. Handheld XRF readings display very high concentrations of pathfinder elements Ag, As, and Sb within stockwork and semi-massive and massive sulfide mineralization. Handheld XRF cannot reliably measure Au concentrations.
Rhyolite-hosted sulfide mineralization at Scarlet Knob, situated approximately 1 km to the northeast of Tarn Lake, is likely structurally offset from the Tarn Lake VMS system, displaced along a dextral shear zone.
Highlights from Scarlet Valley Drilling:
Drilling at Scarlet Valley (Figure 8) targeted a large east-west trending gossan associated with intense stockwork sulfide mineralization. Mineralization is focused along east-west trending andesite dikes that crosscut volcaniclastic debris flow breccia. Debris flow breccia in the western part of Scarlet Valley contains rhyolite clasts, while debris flow breccia to the east is dominated by andesite clasts. Both andesite and the debris flow breccia exhibit replacement-style sulfide mineralization (Figures 9-13), in some cases, sulfide replacement being intense.
Core from hole SV22-05 displays intense silicification and sulfide replacement of volcaniclastic debris flows, a promising sign that permeable sedimentary horizons may host lateral extensions of replacement-style mineralization.
Handheld XRF analyses of sulfide minerals in drill core display high concentrations of pathfinder elements Ag, As, and Sb. Handheld XRF cannot reliably measure Au concentrations.
Dr. Quinton Hennigh, P. Geo., a Director of the Company and its technical adviser, a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical contents of this news release.
About Eskay Mining Corp:
Eskay Mining Corp (TSX-V:ESK) is a TSX Venture Exchange listed company, headquartered in Toronto, Ontario. Eskay is an exploration company focused on the exploration and development of precious and base metals along the Eskay rift in a highly prolific region of northwest British Columbia known as the 'Golden Triangle,' 70km northwest of Stewart, BC. The Company currently holds mineral tenures in this area comprised of 177 claims (52,600 hectares).
All material information on the Company may be found on its website at www.eskaymining.com and on SEDAR at www.sedar.com.
Contact:
Mac Balkam
President & Chief Executive Officer
T: 416 907 4020
E: Mac@eskaymining.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words 'may', 'would', 'could', 'will', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'expect' and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
ESKAY MINING CORP. 
