Jul 21 2020
Golden Sky Minerals Corp. reports that a surface exploration program has been successfully completed at its Bull’s Eye property situated in the White Gold District in Yukon.
The Bull’s Eye property is situated 50 km south of Newmont’s Coffee Gold deposit in a formerly unidentified gold sub-district, and is located next to the Wels Gold project owned by K2 Gold Corp. The Wels Gold project has yielded remarkable drill intercepts, such as 0.76 g/t gold (Au) across 97.5 m and 2.37 g/t gold (Au) across 28.5 m.
During the Phase 1 exploration program, a total of 50 prospecting rock grab samples and 560 soil samples were collected, and a 134-m long trench was also completed.
Most of the exploration, such as trenching, targeted the Gold Crest zone—an open-ended geochemical anomaly measuring 200 m x 250 m and with soil samples obtained from a former program that tested up to 0.22 g/t Au as well as prospecting grab samples that assayed up to 0.25 g/t Au, as indicated in the above image.
Visual inspection facilitated by trenching inside the soil geochemical anomaly denotes pyrite mineralization, sericite alteration, silicification, and extensive quartz stockwork development. In addition, reconnaissance soil sampling as well as prospecting was finished on earlier undiscovered regions of the property.
Thanks to favorable visual outcomes, a total of 30 more claims were staked that increased the overall area of the property to 142 claims (2,968 ha).
Mobilization to Hotspot
Golden Sky Minerals is also delighted to announce that the exploration team has been mobilized to its Hotspot property situated on the Yukon-Alaska border. This Phase 1 exploration program will include soil sampling to extend the Sure Bet zone, and will also involve the preparation for a Phase 2 inaugural drill program to be carried out in September 2020.
The Hotspot property is situated 25 km southeast of the Taurus copper-molybdenum-gold (Cu-Mo-Au) porphyry deposit (situated in Alaska) with an inferred resource of 68.3 million tons grading 0.032% Mo, 0.275% Cu, and 0.166 g/t Au.
The Hotspot property is located along the Big Creek Fault and hosts a 1.7-km-long mineralized structure with gold-in-soil values of up to 4.1 g/t Au and also a pathfinder signature that indicates a low-sulfidation epithermal system. A brief trenching program conducted in 2018 yielded gold values of 0.42 g/t across 44 m.
Although assays will tell the true story, I am excited by the team’s report of favorable visual results from the trenching program. With the addition of new soils, we hope to expand the footprint of the Gold Crest zone, and hopefully define new exploration targets on the property.
John Newell, President and CEO, Golden Sky Minerals Corp.