Golden Sky Drills near-surface Interval of 6.19 g/t gold over 1.0 m, within 38.65 meters of 0.35 g/t gold, at Hotspot Property, Yukon Territory
Golden Sky Drills near-surface Interval of 6.19 g/t gold over 1.0 m, within 38.65 meters of 0.35 g/t
gold, at Hotspot Property, Yukon Territory
Vancouver, March 2, 2022 – Golden Sky Minerals Corp. (AUEN.V) (the “Company” or “Golden Sky”) is
pleased to announce the 2021 results from the final 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 (“the
Property”) in the Yukon Territory. The final set of assays includes those for drill holes HS-21-01, HS-21-03,
and HS-21-04 (results for hole HS-21-02 were presented in the November 18, 2021 news release). All drill
holes continued to return broad intercepts of gold (Au) mineralization from surface, extending the known
dimensions of the zone to over 1 30 meters in length . Drill Hole HS -21-03 was designed as a n 80-metre
step-out from hole HS-21-02 and intersected a higher-grade zone that assayed 6.19 g/t Au over 1.0 metres
within a broader zone grading 0.23 g/t Au over 89.4 metres (see Table 1 for drill collar information and
Table 2 for results ). Holes HS-21-01, HS-21-03, and HS -21-04 were all drilled to the southeast and were
designed to test the orientation of the mineralized system at the Sure Bet zone.
“With just 1,317.5 -meters of drilling in 4 holes, we have demonstrated that a near -surface, auriferous
system extends for over 130 metres and remains open along-strike and to depth.” stated Cameron Dorsey,
VP Exploration of Golden Sky . “With limited outcrop in the region, drilling has been critical to furthering
our understanding of the geolog ical setting . Our maiden diamond drilling program has been very
successful in defining a robust mineralized zone and its stratigraphic/structural controls. By advancing our
understanding in the area, we will be able to more effectively target the higher-grade gold zones that were
encountered in holes HS-21-02 and HS-21-03 for the 2022 drill program.”
Hole Drill Plan Summary:
Hole HS-21-01 was drilled to test the southern extent of a ~600m x 400m gold-in-soil anomaly located
within the Sure Bet Zone, with soil 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. Hole HS-21-01 was an undercut of
hole HSRC-20-02 (Azimuth 120°, dip -50°), which returned an intercept of 1.34 g/t Au over 71.6m.
TSX-V: AUEN
GOLDEN SKY MINERALS CORP.
2110 -650 West Georgia Street
Vancouver, British Columbia
Canada, V6B 4N9
Telephone: 604 568 8807
Facsimile: 604 681 1864
www.goldenskyminerals.com
Hole HS-21-03 was a 50-metre step out of Hole HS-21-01, designed to test the mineralized trend between
HS-21-01 and HS -21-02 (Figure 1). Hole HS-21-04 was drilled as an undercut to HS -21-03, to facilitate a
better understanding of the structural orientation of the stratigraphy and faults in the Sure Bet zone.
Table 1: Drill collar information
Hole ID Easting Northing Azimuth Dip Depth (m)
HS-21-01 501491 7035569 130° -65° 377
HS-21-02 501529 7035701 230° -50° 230
HS-21-03 501477 7035640 130° -55° 375.5
HS-21-04 501477 7035640 130° -70° 335
Table 2: Final set of assay results from the 2021 Hotspot diamond drill program (*Note: results from hole HS-21-02 were
originally provided in the November 18, 2021 news release)
Hole ID From (m) To (m) Length (m) Au (g/t)
HS-21-01 6.4 61.1 54.7 0.18
including
HS-21-01 13.6 34.5 20.9 0.36
HS-21-01 30.5 32.55 2.05 1.48
*HS-21-02 8 110 102 0.85
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
HS-21-03 6.1 95.5 89.4 0.23
HS-21-03 6.1 44.75 38.65 0.35
including
HS-21-03 6.1 10.95 4.85 2.11
HS-21-03 8 9 1 6.19
HS-21-04 5.25 100 94.75 0.3
including
HS-21-04 5.25 47.6 42.35 0.4
HS-21-04 5.25 10 4.75 1.49
Drill Hole HS-21-01 Description:
The positive results from HS-21-01 (Table 2) likely represent the outer margins of a structural zone defined
by faulting, brecciation and associated complex polyphase alteration . Intense p ropylitic alteration
(chlorite, epidote) commences directly from surface and appears to be bounding a zone of potassic
alteration at ~30m downhole . The presence of intense pyrophyl lite would suggest this is a zone of
advanced argillic alteration that developed at very high temperatures. Very finely disseminated pyrite
concentrations ranged from trace to 5% within intensely chlorite-altered zones.
Drill Hole HS-21-03/HS-21-04 Description:
The structural setting and alteration assemblage in holes HS-21-03 and HS-21-04 are very similar to those
identified in previously drilled holes (HS-21-02). The degree of faulting and quartz vein stockwork is more
intense than within HS-21-01 and correlates with increased gold grades (Table 2). Although alteration is
strong throughout, there is a discrete zone of intense silicification and quartz vein breccia that yielded
2.11 g/t Au over 4.85m , including 6.19 g/t Au over 1 .0m. This was a very similar zone to the one that
assayed 42.4 g/t Au over 1.05m in hole HS-21-02, located 80m to the northeast. Golden Sky has tentatively
established the orientation of the higher gold grade intercepts , which are likely linked to a structurally
complex auriferous gold system trending northeast (Figure 2 & 3). Holes HS-21-03 and HS-21-04 were also
successful in delineating the orientation of the conglomerate unit, which is interpreted to be relatively
flat lying. This is important as the increased primary permeability of the conglomerate appears to have
facilitated zones of elevated gold mineralization, particularly within hole HS-21-02 (Figure 4).
Message from John Newell, President and CEO:
Golden Sky’s discovery of a shallow low-high sulphidation zone at the Sure Bet zone is a significant
milestone at the 100% owned Hotspot property. While early days, the drilling to date gives the company
confidence to plan an aggressive drill program this spring and summer. The company plans drilling to
determine, and potentially extend, the known strike length of the Sure Bet zone, and to target what the
company believes are the high-grade zones. The Company also plans to conduct an airborne geophysical
survey of the Hotspot Property to better understand the geology and alteration associated with the Sure
Bet Zone. By utilizing modern exploration techniques, we hope to discover additional zones of significant
gold mineralization on the Property. We are looking forward to getting on the Property in early June
2022 to begin an extensive exploration campaign at Hotspot.
Highlighted Conclusions from the Maiden 2021 Diamond Drill Program:
• Geochemical results from the drill core indicate a direct association between higher gold-silver
(Au-Ag) multi-gram grades and elevated arsenic (As), antimony (Sb), mercury (Hg), and selenium
(Se) values. This geochemical signature is very commonly associated with epithermal gold systems
and can be used as an effective tool for vectoring to the core of the system.
• There appear to be two controls for auriferous mineralization at the Sure Bet Zone: structural and
stratigraphic. The core zones of higher-grade gold mineralization have developed both within and
adjacent to fault zones and hydrot hermal breccias. It is also clear that there is a significant
stratigraphic control for low -grade gold mineralization , as grades become elevated in the more
permeable conglomerate unit versus the volcanic unit.
• The high-grade gold zones are best defined by silicic cores with broad halos of alteration that
progress from inner advanced argillic assemblages (quartz, alunite, pyrophyllite) to outer
propylitic assemblages (quartz, potassium -feldspar, chlorite, and epidote) ( Figure 5). The
metasomatized halos potentially extend for great distances laterally and vertically around the
inner medial (advanced argillic) alteration mineral assemblages. Future airborne geophysical
surveys (magnetic/radiometric) could be effect ive at outlining such alteration patterns, which
could then be utilized for identification of additional property targets.
• Thick zones of colloform layering commonly develop within the shallower elevations of a low
sulphidation system. Hole HS -21-02 was th e only hole in the program to have intersected
colloform layering, with a 0.3m near-surface intersection. This geological observation, along with
elevated As, Sb, Se, Au, and Ag geochemical values, would suggest that erosion has exposed mid-
levels of the low sulphidation system. This would suggest that the gold mineralization could
extend to depth, where a potential high-sulphidation setting may exist within an area of advanced
argillic alteration (Figure 5).
• As the Sure Bet zone is likely controlled by the intersection of a regional west -northwest to
northeast-trending fault system s (Figure 6), similar intersections property -wide may also host
enhanced gold mineralization. With over 90% of the property remaining unexplored by Golden
Sky, there remains good potential for additional discoveries.
Figure 1: 2021 Drill hole locations with drill traces projected to surface. The >600m gold-in-soil anomaly of the Sure Bet Zone
remains open along-strike and to depth, as only 140m of the trend was tested by four diamond drill holes in 2021.
Figure 2: Rough outline of higher-grade gold zones projected to surface from intercepts made by the 2021 drill program.
Anomalies remain open along strike and to depth.
Figure 3: Drill core photos of elevated grade zone (6.19 g/t Au over 1.0m from 8.0m-9.0m) in HS-21-03, exhibiting intense
silicification, breccia textures, faults, and oxidized fractures.
Figure 4: Interpreted contacts of geological units intercepted by the 2021 drill program. Three main rocks units exist in the Sure
Bet Zone: conglomerate, tuff breccia, and rhyolite porphyry. 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.
Figure 5: Low and intermediate sulphidation settings, showing hydrothermal features and alteration assemblages. Modified from
Sillitoe (1999) and Hedenquist (2000). The zoned alteration observed in the 2021 drill core closely follows the model with the
disseminated ore zone developing in the permeable conglomerate lithology. Geological and geochemical observations indicate
that the Sure Bet Zone may be the surface exposure of a low-intermediate sulphidation system.