Golden Sky Minerals Mobilizes Exploration Team to Bull’s Eye

VANCOUVER, British Columbia, July 06, 2020 (GLOBE NEWSWIRE) -- Golden Sky Minerals Corp. (AUEN.V) is pleased to announce the mobilization of an exploration team to its Bull’s Eye gold property, situated in the Yukon’s prolific White Gold district.

With only 5 days of field work completed on the property to date, an open-ended 200x250m geochemical anomaly (the “Gold Crest” zone) was delineated in 2017, with soil samples assaying up to 0.22 g/t gold (Au) and prospecting grab samples assaying up to 0.25 g/t Au (see Figure 1).

Phase 1 of the 2020 exploration program will consist of expanding the coverage of the Gold Crest zone with grid-style soil sampling, as well as detailed prospecting and mapping. Ridge-and-spur style soil sampling and grassroots prospecting will be done on previously unexplored areas of the property.

Phase 2 of the program will involve bedrock trenching at the Gold Crest zone. Due to the lack of bedrock exposure in the area, trenching is anticipated to give insight to the geological setting, nature of mineralization, and dimensions of the zone.

The Bull’s Eye property is located in a previously unrecognized gold sub-district 50 km south of Newmont’s Coffee Gold deposit. The Bull’s Eye Property is adjacent to K2 Gold Corp.’s Wels Gold project which has yielded notable drill intercepts of 2.37 g/t Au over 28.5m and 0.76 g/t Au over 97.5m.

Yukon Assets

The company’s three Yukon Territory core assets, the Lucky Strike, Hot Spot, and Bull’s Eye properties in remain in good standing. All three properties are 100% owned by Golden Sky Minerals with no underlying payments or royalties.

The Lucky Strike property, located in the heart of the Yukon’s White Gold district, hosts a 10km trend of gold mineralization. Five gold zones have been identified on the property to date. Only the Monte Carlo property has been drilled, yielding notable intercepts such as 5.36 g/t Au over 22m in the near surface oxide zone, and 4.55 g/t Au over 7.6m in a deeper sulphide zone (see November 13, 2018 news release). The Lucky Strike property is situated 25 km north of Newmont’s Coffee Gold deposit (Probable Reserve of 2.16 M oz Au) and 15km east of White Gold Corp.’s Golden Saddle deposit (Indicated Resource of 1.04 M oz Au).