Sky Gold Corp. (TSXV:SKYG, OTC:SRKZF) (“Sky Gold Corp.” or the “Company”) is pleased to report assay results from the first two diamond drill holes for the 2019 drill program at its 100%-owned Clone Gold Project (“the Project”) located in British Columbia’s prolific Golden Triangle.
Sky Gold Corp. (TSXV:SKYG, OTC:SRKZF) (“Sky Gold Corp.” or the “Company”) is pleased to report assay results from the first two diamond drill holes for the 2019 drill program at its 100%-owned Clone Gold Project (“the Project”) located in British Columbia’s prolific Golden Triangle. Both drill holes intersected gold mineralization: hole SCL-19-01 intersected 85.2 g/t over 0.9 metres and SCL-19-02 intersected 124.6 g/t Au over 4.1 metres, both within the Main “H” Zone. Mineralization in the Main “H” zone extends for over 300 m along strike.
Significant results from the first two holes include:
*The intervals reported represent drill intercepts and insufficient data are available at this time to state the true thickness of the mineralized intervals. All gold values are uncut.
- Main “H” Zone – Four holes have been completed on the Main “H” Zone target, with assay results received for the first two holes. Hole SCL-19-01 was collared approximately 20 m northeast of hole SCL-19-02 and was drilled in a southerly direction to test along-strike extension of multiple zones of gold mineralization previously identified in historic drilling. Hole SCL-19-02 was designed to test gold mineralization near the bulk sample site, collected in 2011 (refer to Company Press Release 2017-October-12) when 102 tons averaged 137.1 g/t gold. Mineralization in both holes is associated with strong hematite alteration, also reflected in high iron values (up to 24.0% iron) in the high gold intervals. All core intervals returning over 5 g/t Au will be subject to the screen metallic assaying procedure, assays of which are pending.
Samples from drill hole SCL-19-06, located in the Treble zone and 4.4 km from the Main “H” Zone, have been sent for assay on a rush basis. This 150 m hole represents the first hole ever drilled in this part of the property and collared in gray volcaniclastic units that showed favorable indications of strong limonite, sericite, quartz veining and visible sulphide mineralization including pyrite, chalcopyrite and sphalerite, noted locally throughout the hole to a depth of 140 m.
The Phase One drill program comprised 811 m drilled in six HQ-diameter diamond drill holes and was designed to confirm and expand gold mineralization within the Main “H” Zone, as well as to drill test new exploration targets such as the Treble and Gossan Zones. The Company is the first operator to digitize and compile all historic data from the project in three dimensions for use as a modelling and targeting tool; to drill HQ-diameter core in order to reduce nugget effect; and to introduce metallic sieving procedures in order to better assay for possible coarse gold at Clone.
Development of the Phase Two drill program at Clone will be initiated based on upcoming assay results.
“The results from the first two holes on the Main “H” Zone are very encouraging and indicate multiple zones of high-grade gold mineralization. We look forward to receiving the remaining assays from the Phase One program which will be crucial in helping us plan and target for our upcoming Phase Two program which we plan to undertake this fall” states Mike England, CEO of Sky Gold Corp.
Quality Assurance/Quality Control Procedures
All drill core was logged, photographed, cut in half and sampled by Ridgeline Exploration Services Inc. (“Ridgeline”) personnel, consultants to the Company for the 2019 drill program at Clone. Prior to shipment to ALS Globals’ sample preparation facility in Terrace, B.C., certified reference material standards, blanks, and core duplicates were inserted at a ratio of approximately one in every 10 drill core samples as part of the Company’s Quality Assurance/Quality Control (“QA/QC”) program. Samples were prepared in Terrace, B.C. by crushing the entire sample to 70% passing -2 mm, riffle splitting off 1 kg, and pulverizing the split to better than 85% passing 75 microns. After preparation in Terrace, the prepared pulps were shipped to ALS Globals’ analytical laboratory in North Vancouver, BC. The gold assays are determined by the Au-AA23 fire assay method which reports results in parts per million (ppm) (equivalent to grams per tonne [g/t]). Gold samples returning results over 10 g/t Au were then analyzed using Au-GRA21 (Fire Assay with Gravimetric finish). All core intervals returning over 5 g/t Au will be subject to the screen metallic assay procedure.
Base metal assays are first determined using the ME-MS41 method (Aqua digestion with ICP-MS finish), which reports results as parts per million (ppm). All analyses that reach the over limits of ME-MS41 are re-analyzed with an Ore Grade method. The analytical results are verified with the application of industry standard QA/QC procedures.
About the Clone Project
The Clone Project is located situated approximately 20 km southeast of Stewart, B.C., and 15 km south of Ascot Resources Ltd., advanced Red Mountain Project, in the southern portion of the Golden Triangle. The Clone Project 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.). Years of receding snowpack, known as ablation, has revealed many new targets never exposed to previous operators.
Diamond drill services were supplied by More Core Drilling Services Ltd. and pad building and logistics were conducted by Minconsult Exploration Services Inc. Ridgeline Exploration Services Inc. of Kelowna, B.C., supplied geological supervision and project management.
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 project.
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.
ON BEHALF OF THE BOARD
Mike England, CEO & DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT:
Toll Free: 1-888-945-770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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).