Sky Gold: Diamond Drill Program Mobilization Initiated at Clone Gold Project
TSX VENTURE: SKYG
VANCOUVER, BC / ACCESSWIRE / July 24, 2019 / Sky Gold Corp. (TSX-V: SKYG) (OTC PINK: SRKZF) ("Sky Gold Corp." or the “Company”) is pleased to announce that mobilization for the summer diamond drill program on the Clone Gold Property, located in the prolific Golden Triangle has been initiated. Drill pad construction is underway for the first four drill locations with drilling of the first target, in the Main “H” Zone, anticipated to begin in the following three to five days. Sky Gold anticipates a minimum of 10 diamond drill holes to be completed in this phase of drilling.
The Clone Property is situated approximately 20 kilometres southeast of Stewart, B.C., and 15 kilometres south of Ascot Resources Ltd.’s advanced Red Mountain deposit. This southern portion of the Golden Triangle is significantly less explored then properties north of Stewart.
For the 2019 summer drill program, diamond drill services are supplied by More Core Drilling Services Ltd., of Stewart, B.C.; pad building and logistic services are supplied by Minconsult Exploration Services Inc. of Coldstream, B.C.; and geological supervision and project management is provided by Ridgeline Exploration Services Inc., of Kelowna, B.C. Drill target selection was aided by a successful 2018 field program, a 2018 high resolution magnetics airborne survey, and a comprehensive compilation of all historic data with supportive 3D modeling.
Drill targets include:
- Main “H” Zone - test extensions and trends along strike and down-dip, and plunge, based on 3D modeling of this zone which previously has returned drill intercepts of: 7.92 m of 20.22 g/t Au (Hole #16), 7.92 m of 30.37 g/t Au (Hole #21), and 12.80 m of 44.75 g/t Au (Hole #28).*
- The Gossan Zone - located approximately 1.3 kms west of the Main “H” Zone, is a high priority target where rock geochemistry (rock grab samples) have returned strong gold values, up to 37 g/t Au (sampling 1996, ARIS 23878). The mineralization at the Gossan Zone is very similar to the Main “H” Zone and has never been drilled.
- Port 19 and Treble Zones - located approximately 4.4 km west-north-west of the Main “H” Zone, this target was prospected and geologically mapped in summer 2018 with significant results obtained in both soil and rock (grab) sampling. There has been considerable glacial abatement over the showing since the 1990’s. Soil sampling results including five samples with greater than 1 g/t Au (8.33 g/t, 6.68 g/t, 3.7 g/t, 1.66 g/t, 1.61 g/t). The +200 ppb Au soil anomaly over the Port 19 and Treble showings is 2.5 times the size of the Clone Main “H” Zone soil anomaly.
*The intervals reported above represent drill intercepts and insufficient data is available at this time to state the true thickness of the mineralized intervals. All gold values are uncut.
“We are excited to finally be in the position to drill targets at Clone revealed in recent years due to receding snowpack on the 10,688-hectare project. Sky will kick off the 2019 diamond drill program on the Clone project with an exceptional and seasoned team of contractors, consultants and in-house expertise. The Clone property has previously returned high-grade diamond drill intercepts from multiple mineralized zones (1995 -1997; Teuton Resources Corp. and Minvita Enterprise Ltd., financed by a major, Homestake Mining Corp., and Murray Pezim's flagship company, Prime Resources Corp.).
Catherine Fitzgerald, P.Geo., a Qualified Person under National Instrument 43-101, is the Qualified Person responsible for reviewing and approving the technical contents of this news release as they pertain to the Clone property.
About Sky Gold Corp.
Sky Gold Corp. is a junior mineral exploration company engaged in acquiring and advancing mineral properties across Canada’s top mining jurisdictions. The Company’s flagship asset is the Clone high-grade gold project located in B.C’s Golden Triangle.
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FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).