VANCOUVER — Skeena Resources (TSXV: SKE) has spent the past two years building a portfolio of high grade precious metal projects in northwestern BC’s Golden Triangle, and now the junior company, chaired by famed explorer Ron Netolitzky, looks to be adding another.
The company has announced plans to acquire private company Mount Rainey Silver for its Porter Idaho silver property, 2 km south of Stewart, BC, in exchange for 25.1 million of Skeena’s shares. The all share deal is valued at $4.8 million, as of Skeena’s Aug. 9 share closing price, and the companies expect the transaction to close in early September.
“The projects we’ve acquired so far are ones that Netolitzky has pursued for many years, and Porter Idaho certainly fits into that description,” Walter Coles, president and CEO of Skeena said during an investor conference call to discuss the acquisition.
The 5.9 km2 property hosts two, shear hosted and silver rich vein systems named the Silverado and Prosperity-Porter Idaho. Both showings are spaced 2 km apart, located on opposite sides of a mountain that overlooks the town of Stewart.
Read the entire story at www.NorthernMiner.com/news/skeena