Sky Gold Corp. Acquires Three Nickel-Copper-Cobalt-Platinum Group Element Properties in The Shebandowan Greenstone Belt, Northwestern Ontario - Seite 2

Most importantly, the altered, linear belts of ultramafic rocks comprising the sill complex are locally coincident with numerous discrete strong conductors, that have not been tested by diamond drilling. Preliminary modelling of such conductors (defined by a historic airborne VTEM survey in 2005) has been completed, yielding several high-quality targets for diamond drilling.

Greenwater Lake:

The Greenwater Lake property, situated approximately 10 km WSW of the Shebandowan mine, is largely underlain by ultramafic rocks. Data compilation indicates that there has been no historic drilling completed on the property. Regional glacial till sampling completed by the Ontario Geological Survey (Bajc, 2000) delineated a prominent cluster of Ni, Cu, Co, Cr, Pt and Pd in-till anomalies, situated east of Greenwater Lake. Notably, highly anomalous levels of Ni, Co and Cr obtained from this survey occur on the Greenwater Lake property, providing immediate targets for follow-up work. The till anomalies are also closely associated with a prominent fault, that cuts the ultramafic rocks. Detailed geochemical sampling is clearly warranted to enhance this target area.

A drill hole situated immediately east of the Greenwater Lake property, undertaken by North American Palladium in 2004, returned very compelling results. Hole SP04-001 returned 0.56 g/t platinum + palladium, as well as 0.30% nickel over 11.8 metres, within what is reported as strongly altered peridotite. No additional drilling was ever completed to follow-up on this drill result.

Kekekuab Lake:

The Kekekuab Lake property is situated approximately 5 km due south of the Shebandowan mine site. As is the case with the Greenwater Lake property, minimal historic drilling has been undertaken at Kekekuab lake. Additionally, mafic and ultramafic rocks are prominent on available geology maps.

Foto: Accesswire

Fig 1. Map of the Sungold, Kekekuab and Greenwater properties

MOVING FORWARD ON THE PROPERTIES

Compilation of the historic and Government data will continue in the near term on all properties, in efforts to consolidate and identify prospective targets.

Additionally, the process of engagement with the indigenous communities of Lac La Croix, Lac Des Milles Lacs, the Metis Nation of Ontario and Fort William First Nation in collaboration with the Ontario Ministry of Northern Development and Mines, will commence as soon as practical, in preliminary efforts to secure exploration permits.

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