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Golden Sky’s Exploration Hole Intersects near-surface High-grade Interval of 42.4 g/t Au over 1.05 m, within 102 meters of 0.85 g/t Au, at Hotspot Property, Yukon Territory

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Golden Sky’s Exploration Hole Intersects near-surface High-grade Interval of 42.4 g/t Au over 1.05 m, within 102 meters of 0.85 g/t Au, at Hotspot Property, Yukon Territory

 

 

 

 

 

Golden Sky Minerals Corp. (AUEN.V)  is pleased to announce the 2021 results from the first set of assays from its 4-hole, 1,317.5-metre maiden diamond drilling program at the Sure Bet Zone, located within its 100% owned Hotspot Property in the Yukon Territory. The first set of assays was received from drill hole HS-21-02, with results pending for the three remaining drill holes. Drill hole HS-21-02 intersected 0.85 g/t Au over 102 meters, including 2.97 g/t Au over 24.1 meters, in turn including a high-grade, 1.05-meter zone grading 42.4 g/t Au (see Table 1 for results and Table 2 for drill collar information). Hole HS-21-02 was designed to test the westward extent of the Sure Bet mineralized zone.

 

“These results are truly exciting, as they demonstrate that a near-surface, auriferous system exists on the Hotspot Property,” stated Cameron Dorsey, VP Exploration of Golden Sky. “Significant gold mineralization has now been confirmed to be associated with zones of faulting, brecciation, quartz veining, and hydrothermal alteration. The polyphase nature of mineralization and alteration suggests that the Sure Bet Zone is the result of a long-lived, gold-enriched system that developed within a structurally complex corridor.”

 

Table 1: Assay results from the 2021 Hotspot diamond drill program

 

Hole ID From (m) To (m) Length (m) Au (g/t)
HS-21-02 8 110 102 0.85
HS-21-02 including
HS-21-02 8 32.1 24.1 2.97
HS-21-02 22 28.5 6.5 8.14
HS-21-02 23.9 24.95 1.05 42.4

 

 

Table 2: Drill collar information

 

Hole ID Easting Northing Azimuth Dip Depth (m)
HS-21-02 501529 7035701 230 -50 230

 

 

Drill Hole HS-21-02 Description:

 

Hole HS-21-02 was drilled to test the western extent of a ~600 m x 400 m gold-in-soil anomaly located within the Sure Bet Zone, with values ranging from 50 ppb Au to 4,110 ppb (4.11 g/t) Au (Figure 1). The Sure Bet Zone outlines a significant geochemical anomaly marking the southwest end of a 1.6 km gold-in-soil trend that extends to the northeast where it remains open.

 

The highly positive results from HS-21-02 (Table 1) represent a structural zone, comprising faulting and brecciation, hosting polyphase clay, silica, chlorite, and locally potassic hydrothermal alteration and gold mineralization. Up to 10% finely disseminated pyrite occurs throughout much of the hole, commonly associated with very intense chlorite alteration. The polyphase nature of quartz stockwork veining, silica flooding and quartz vein breccias suggest that several phases of auriferous fluid movement occurred within this structural corridor. Quartz veins typically range from <1 cm to 10 cm in width, with rare quartz breccia veins up to 0.9 m wide. Strong oxidation occurs to a drill hole depth of ~30 m, commonly associated with limonite within fractures and fault gouge (Figure 2). The rocks observed within the drill core primarily consisted of porphyritic rhyolite and rhyolite flows, tuff breccias, and conglomerates. The mineralized system extends through all host rock types but is best developed within the conglomerate unit, where increased primary permeability would have facilitated fluid movement.

 

Message from John Newell, President and CEO:

 

“The whole team at Golden Sky Minerals are thrilled to hit high-grade, near surface intercepts on our first diamond drill program at our Hotspot property,” states John Newell, President and CEO of Golden Sky Minerals Corp. “Our early success at Hotspot, especially given the difficult nature of the program this past summer with drought conditions and COVID restrictions, along with the recently approved ten-year mining permit from the Yukon’s Mines Ministry, gives our team a great deal of confidence to advance this project. We are excited to get back to the Hotspot property as soon as possible in the spring of 2022. I would like to thank everyone that worked at Hotspot this year, for all their tremendous efforts.”

 

Graphics accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/9ea402dc-8a43-46e5-85a2-9df4c8770db8

 

https://www.globenewswire.com/NewsRoom/AttachmentNg/42a9c408-6342-4e7c-8f56-45e3f5c0dbf1

 

About Golden Sky Minerals Corp.

 

Golden Sky Minerals Corp. is a well-funded junior grassroots explorer engaged in the acquisition, assessment, exploration, and development of mineral properties located in highly prospective areas and mining-friendly districts. Golden Sky’s mandate is to develop its portfolio of projects to the mineral resource stage through systematic exploration.

 

The drill-ready projects include Hotspot, Bullseye, and Luckystrike, all in Yukon, Canada. In addition, the recent purchases of the Rayfield Copper-Gold Project in southern British Columbia, and the staking of the Eagle Mountain Gold Project in the Cassiar Gold District in northern British Columbia, add to the company’s substantial early-stage Canadian project pipeline.

 

Posted November 18, 2021

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