Golden Sky Minerals Completes Phase 1 Exploration Program at Bull’s Eye, Mobilizes to Hotspot

VANCOUVER, British Columbia, July 20, 2020 (GLOBE NEWSWIRE) -- Golden Sky Minerals Corp. (AUEN.V) is pleased to announce the completion of a surface exploration program at its Bull’s Eye property in the Yukon’s White Gold District.

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

The Phase 1 program involved the collection of 560 soil samples, 50 prospecting rock grab samples, and the completion of a 134 metre-long trench. The majority of exploration, including trenching, was focused on the Gold Crest zone; an open-ended 200x250m geochemical anomaly, with soil samples from a previous program assaying up to 0.22 g/t gold (Au) and prospecting grab samples assaying up to 0.25 g/t Au (see Figure 1).

Visual inspection from trenching within the soil geochemical anomaly indicates widespread quartz stockwork development, silicification, sericite alteration, and pyrite mineralization. Reconnaissance soil sampling and prospecting were also completed on previously unexplored areas of the property.

Due to favourable visual results, 30 additional claims were staked, increasing the total property area to 142 claims (2,968 ha).

Mobilization to Hotspot

Golden Sky Minerals is also pleased to announce the mobilization of an exploration team to its Hotspot property located on the Yukon-Alaska border. This Phase 1 program will involve soil sampling to expand the Sure Bet zone, and preparation for a Phase 2 inaugural drill program to be conducted in September, 2020. The Hotspot property is located 25km southeast of the Taurus copper-molybdenum-gold  (Cu-Mo-Au) porphyry deposit (located in Alaska) which has an inferred resource of 68.3 million tonnes grading 0.275% Cu, 0.032% Mo, and 0.166 g/t Au.

Situated along the Big Creek Fault, the Hotspot property hosts a 1.7-kilometer-long mineralized structure with gold-in-soil values up to 4.1 g/t Au and a pathfinder signature indicative of a low-sulphidation epithermal system. A short trenching program in 2018 returned values of 0.42 g/t Au over 44m (see September 10, 2018 news release).

Figure 1: Gold-in-soil values at the Gold Crest zone
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Message from John Newell, President and CEO:

“Although assays will tell the true story, I am excited by the team’s report of favourable 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.”