Skeena Resources (TSX: SKE) and the Tahltan Central Government (TCG) announced that they have entered into an investment agreement, pursuant to which TCG have agreed to invest C$5 million ($3.9m) into Skeena by purchasing 1,597,138 Tahltan investment rights.
Rights will automatically vest and convert into Common Shares, at a ratio of one right per one common share over the three-year period following the closing of the offering.
Skeena Resources is developing the past-producing Eskay Creek mine, on Tahltan Territory in British Columbia鈥檚 Golden Triangle.
According to the company, Eskay contains an open-pit resource of 2.6 million ounces at 5.9 g/t AuEq in the Indicated category and 1.4 million ounces at 3.0 g/t AuEq in the Inferred category.
鈥淪keena is delighted to welcome Tahltan as partners in the company,鈥� Skeena鈥檚 CEO Walter Coles said in the press release. 鈥淥ver the years we have often discussed our mutual desire to have the Tahltan Nation become owners of natural resource projects being developed in their Territory.鈥�
鈥淭ahltan Territory is home to British Columbia鈥檚 resource-rich 鈥楪olden Triangle鈥� and a booming mineral exploration industry鈥�
Chad Norman Day, President, Tahltan Central Government
鈥淭his investment into Skeena represents a further step in an evolving relationship with the Tahltan Nation,鈥� Coles said. 鈥淲e look forward to continuing our work with the Tahltan and gaining the support required for Skeena鈥檚 projects.鈥�
鈥淭ahltan Territory is home to British Columbia鈥檚 resource-rich 鈥楪olden Triangle鈥� and a booming mineral exploration industry,鈥� Chad Norman Day, TGC president said.
Day said mining has always been part of the Tahltan culture, both in the past and in present.
鈥淔or thousands of years, our people prospected, mined, and utilized obsidian for tools, weaponry, and trade. More recently, Tahltans supported miners during the gold rush and have had operating mines in our homelands for multiple generations,鈥� Day said.
鈥淚n partnering with Skeena, the Tahltan Nation is evolving and taking significant steps forward by becoming meaningful equity partners in these projects. Ownership provides the Tahltan Nation with a strong seat at the table as we continue our pursuit towards capacity building and economic independence for the Tahltan people.鈥�