{"id":7213,"date":"2024-08-27T15:06:00","date_gmt":"2024-08-27T15:06:00","guid":{"rendered":"https:\/\/dailywashingtoninsider.com\/index.php\/2024\/08\/27\/eskay-mining-wraps-up-summer-exploration-prepares-for-2025-drilling-program\/"},"modified":"2024-08-27T15:06:00","modified_gmt":"2024-08-27T15:06:00","slug":"eskay-mining-wraps-up-summer-exploration-prepares-for-2025-drilling-program","status":"publish","type":"post","link":"https:\/\/dailywashingtoninsider.com\/index.php\/2024\/08\/27\/eskay-mining-wraps-up-summer-exploration-prepares-for-2025-drilling-program\/","title":{"rendered":"Eskay Mining Wraps Up Summer Exploration, Prepares for 2025 Drilling Program"},"content":{"rendered":"<p><strong>Eskay Mining (TSXV:ESK,OTCQX:ESKYF)  has wrapped up its summer exploration program, laying the foundation for a drill program in 2025 after opting to postpone drilling activities due to market conditions. <\/strong><\/p>\n<p>\u201cBecause of the recent depressed market for mineral exploration companies, we decided to be financially prudent and hold off on undertaking a drill program this season,&#8217; said President and CEO Mac Balkam.<\/p>\n<p>Led by experienced geologist Ken McNaughton, Eskay focused on advancing its understanding of key areas in BC&#8217;s Golden Triangle region. The company&#8217;s work, which concentrated on assessing geological potential, involved ground investigations across several regions, including Storie Creek, Scarlett Knob, Tarn Lake and others.<\/p>\n<\/p>\n<p>Over the summer, Eskay gathered and submitted 363 rock samples for laboratory analysis. The company anticipates receiving results by September; they will help define future drilling targets next year.<\/p>\n<p>McNaughton\u2019s team believes Eskay can explore and drill aggressively in 2025 once capital markets have improved. <\/p>\n<p>\u201cOur keen financial management has left us in the strong position of having over C$2.5 million in cash, cashable instruments and government resource credits at a time when the exploration industry is generally cash starved,\u201d Balkam explained in a Monday (August 26) press release. <\/p>\n<p>The company\u2019s exploration strategy is aimed at further unlocking the potential of its 100 percent owned TV, Jeff and SIB\/Lulu deposits. Once its database update is finished, Eskay plans to complete a resource estimate for these deposits.<\/p>\n<p>In June, the company agreed to merge with P2 Gold (TSXV:PGLD,OTCQB:PGLDF) in a deal that would have resulted in a new entity focused on both gold and copper exploration, with projects located in BC and Nevada.<\/p>\n<p>However, the companies agreed to terminate the letter of intent in late June due to market conditions.<\/p>\n<p><span><\/span><strong>Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.<\/strong><\/p>\n<\/p>\n<div>This post appeared first on investingnews.com<\/div>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Eskay Mining (TSXV:ESK,OTCQX:ESKYF) has wrapped up its summer exploration program, laying the foundation for a&hellip;<\/p>\n","protected":false},"author":1,"featured_media":7214,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":["post-7213","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/posts\/7213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/comments?post=7213"}],"version-history":[{"count":0,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/posts\/7213\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/media\/7214"}],"wp:attachment":[{"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/media?parent=7213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/categories?post=7213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/tags?post=7213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}