Golden Sky Minerals Corp. Options the Squid East Property in the Matson Creek Placer Camp, Yukon
Golden Sky Minerals Corp. Options the Squid East Property in the Matson Creek Placer Camp, Yukon
Vancouver, March 15, 2022 – Golden Sky Minerals Corp. (TSXV: AUEN.V, OTC:MCREF) (the “Company” or
“Golden Sky”) is pleased to announce that the company has signed an option agreement with Metals
Creek Resources Corp. (TSXV: MEK, OTC: MCREF) whereby Golden Sky has the right to earn a 100% interest
in the company’s Squid East claims in the Yukon.
Metals Creek Resources Corp (Metals Creek) initially staked the Squid Eas t Property in February 2011,
during the staking rush that ensued after the discovery of the White Gold deposit. The claims are located
proximal to the Matson Creek placer gold operations, approximately 80 km northwest of Newmont’s
Coffee Project and 90 km southwest of Dawson City. Soil sampling, trenching and limited diamond drilling
carried out in 2013 and 2017 resulted in the discovery of a new gold (Au)-silver (Ag) zone with
characteristics similar to other discoveries in the White Gold district. Adding the Squid East Property
bolsters Golden Sky’s land package in a district known for metallogenically diverse deposit settings
including significant porphyry copper-gold-molybdenum (Cu-Au-Mo) systems, Intrusion Related Gold
systems (IRGS), and Volcanogenic Massive Sulphide (VMS) systems (Figure 1).
John Newell, President and CEO of Golden Sky Minerals Corp. states : “Golden Sky Minerals and the
geological team are excited to compile the recently acquired Squid East data and get boots on the ground
as soon as possible. We plan on confirming and expanding the known showings but also investigating
areas that previous exploration may have overlooked. To add to this, the Squid East property is a neighbour
to our recent bonanza -grade discovery on the Hotspot Property (42.4 g/t Au over 1.05 m, within 102
meters of 0.85 g/t Au in hole HS-21-02). We plan on using what we’ve lea rned at Hotspot and applying
some of the same techniques at Squid East.”
Golden Sky Minerals Hotspot Property is located 18 kilometers southwest of the Squid East option along
the Yukon-Alaska border (Figure 2). The properties are located in the North La due placer district which
has produced >20,000 oz of placer gold. The North Ladue area is ~50km south of the prolific Sixtymile
placer district which has produced >230,000 oz of placer gold historically.
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
Squid East Property Highlights
• The Squid Property is located within the Tintina Gold Province , which is a region that underwent
significant magmatism during the Cretaceous period (Figure 1) . This period of magmatism is
associated both with Cu-Au-Mo Porphyry systems and Intrusion Related Gold systems such as the
Casino porphyry Cu-Mo-Au-Ag deposit (2.4 Bt grading 0.14% Cu and 0.19 g/t Au ) and the nearby
Tanacross Project, which hosts the Taurus porphyry Cu-Mo-Au-Ag deposit in Alaska (75.2 Mt grading
0.275% Cu and 0.166 g/t Au).
• The property is located at the intersection of northwest and northeast trending fault systems that
developed in conjunction with the more regional Tintina and Denali fault systems. Magmatic activity
is often concentrated around these secondary structures, which commonly act as conduits for
mineralized fluids.
• In 2013, airborne magnetic geophysical surveys were flown by Metals Creek Resources, which
outlined several magnetic anomalies in the southwest area of the property (Figure 3). These magnetic
anomalies are haloed by moderate “low” magnetic signatures, interpreted as zones of magnetic
destruction due to localized metasomatism. Soil geochemical sampling revealed that these features
are associated with elevated Cu, Au, Ag, Mo , zinc (Zn), mercury (Hg), arsenic (As), barium (Ba), and
antimony (Sb) values. Anomalous zones with elevated molybdenum, copper, gold, and zinc may
outline potential porphyry targets (Figure 3).
• Soil sampling in 2012 outlined the Exploits zone (~600m x 200m) with gold-in-soil values ranging from
15.6 ppb up to 1,086.5 ppb gold (Figure 4). Trenching in 2013 uncovered bleached, locally hematite
and fuchsite-altered sericite schist that returned 1.96 g/t Au and 160.6 g/t Ag over 22 metres. A 4-
hole, 428 m diamond drilling program defined a shallowly dipping mineralized zone , with the best
interval assaying 1.55 g/t Au and 114.1 g/t Ag over 21.0 metres (see MEK press releases dated August
6, 2013 and October 8, 2013)(Figure 5).
• Additional drilling was carried out by Trifecta Gold in 2017 , totaling 546.5 metres in five holes. This
drilling yielded elevated gold and silver assays to a maximum of 2.1 g/t Au and 325 g/t Ag over 1.19
metres. (See Trifecta Gold ’s news release dated November 13, 2017). While Trifecta’s drill program
did not replicate the Metals Creek intersection, the mineralized horizons were intersected where
anticipated, and the target remains open down-dip and along strike in both directions.
Figure 1: Hotspot and Squid East property location along the prolific Tintina Gold Belt. Several large metallogenically diverse deposit settings exist within this Cretaceous-age
magmatic belt. Modified from MDRU home research page. old.mdru.ubc.ca/home/research/yam/index.php. Accessed March 6, 2022.
Figure 2: Location of the optioned Squid East Property in relation to Golden Sky’s Hotspot Property. Squid East is road accessible
from the Matson Creek Airstrip, which is also used to stage equipment to the Hotspot camp.
Figure 3: Pathfinder element anomalies from the 2012-2013 soil sampling program by Metals Creek outline areas of interest for follow-up. Elevated Mo values indicate a possible
intrusion-related source, potentially a porphyry-style target, in areas of a moderate “low” TMI Mag response.
Figure 4: The Exploits zone is defined by a ~600m x 200m gold-in-soil anomaly. Drilling in 2013 intersected broad gold-silver mineralization from surface, while drilling in 2017
proved continuation of mineralization to a depth of 110m. The anomaly remains open along-strike and to depth.
Figure 5: Cross section from Metals Creek 2013 drill program at the Exploits zone, with broad zones of gold mineralization.