Barrick, Skeena reach deal on Eskay Creek

Barrick Gold (TSX: ABX; NYSE: GOLD), the world’s second-largest bullion miner, said today that Canadian junior Skeena Resources (TSX-V: SKE) has decided to exercise an option to acquire a 100% interest in the past-producing Eskay Creek property. Discovered in 1988, the Eskay Creek mine in British Columbia’s Golden Triangle was, according to Skeena, once the world’s highest-grade gold mine and the fifth-largest silver operation by volume. It produced approximately 3.3 million oz. gold and 160 million silver oz. at average grades of 45 grams gold per tonne and 2,224 grams silver per tonne during its mine life. As part of the definite agreement announced on Aug. 4, Skeena will gain full ownership of Eskay Creek and will be the mine operator. Barrick will become a significant shareholder in Skeena and will waive its back-in right on the project.