Sky Gold Corp. Acquires Three Nickel-Copper-Cobalt-Platinum Group Element Properties in The Shebandowan Greenstone Belt, Northwestern Ontario
VANCOUVER, BC / ACCESSWIRE / February 7, 2023 // SKY GOLD CORP. ("Sky" or the "Company") (SKYG-TSX:V)(OTC PINK:SRKZF) announces the acquisition of 3 nickel-copper-cobalt-platinum group element properties, situated in the Shebandowan Greenstone Belt, …
VANCOUVER, BC / ACCESSWIRE / February 7, 2023 // SKY GOLD CORP. ("Sky" or the "Company") (SKYG-TSX:V)(OTC PINK:SRKZF) announces the acquisition of 3 nickel-copper-cobalt-platinum group element properties, situated in the Shebandowan Greenstone Belt, in northwestern Ontario. The properties are located proximal and in a similar geologic setting as to that of the past-producing Shebandowan Ni-Cu-Co-PGE deposit, mined by Inco Ltd., during the period of 1970 to 1998.
The properties are located between 80 to 125 kilometres west of the City of Thunder Bay and are accessed by the Trans Canada Highway (Highway 17) and a network of all-weather roads. Such transportation infrastructure provides good access to conduct mineral exploration programs on all 3 properties, year-round.
SHEBANDOWAN NI-CU-CO-PGE DEPOSIT
The Shebandowan Ni-Cu-Co-PGE mine of Archean-age comprises a world-class example of a premier magmatic nickel sulphide deposit, with mined reserves of 8.6 MT at a grade of 2.0% Ni, 1.0% Cu and 2.68 g/t Pt and Pd (cobalt grades unknown). The model for mineralization at the Shebandowan deposit invokes:
- Greenstone belt deposition in a rifted setting - deep sub-vertical penetrative faults tapping the mantle, should be present in the exploration area
- Vertical ultramafic intrusions or sill complexes host Ni sulphide ore as conduits, proximal to the deep faults
- Strong alteration of the ultramafic intrusions (serpentinization)
- Late mafic dykes within the ultramafic environment indicate extended magmatic activity within the conduits
- Strong magnetic expression and conductivity of the Ni sulphide orebodies due to serpentinization (magnetite) of host ultramafic rocks and presence of pentlandite, pyrrhotite and chalcopyrite as Ni sulphide minerals, respectively.
Past exploration efforts in looking for Shebandowan deposit look-alikes, have focussed on the chemistry of ultramafic rocks as the key to new discoveries, whereas the geologic setting in which the ultramafic rocks are emplaced, is likely more important for exploration and discovery success.
SKY GOLD NI-CU-CO-PGE PROPERTIES
The 3 properties acquired by Sky Gold comprise the Sungold property (1,360 hectares), the Greenwater Lake property (720 hectares) and the Kekekuab Lake property (260 hectares).The following summarizes the highlights or key exploration opportunity, on each respective property.
Sungold:
The Sungold property exhibits striking similarities with the geologic setting of the past producing Shebandowan mine. At Sungold, an extensive mafic to ultramafic sill complex, forms the base of the greenstone belt, proximal to the crustal-scale Knife Lake Fault. Additionally, the ultramafic rocks comprising the sill complex are strongly serpentinized, characterized by the presence of magnetite and talc. These altered ultramafic bodies, are reflected by the presence of linear magnetic highs, similar to what is seen at Shebandowan. Additionally, the chemistry of the ultramafic rocks is identical to that of the host rocks at the Shebandowan mine, in terms of MgO content (komatiites).
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