Golden Sky Receives Permit to Drill the Rayfield Copper-Gold Property, South-Central British Columbia
Golden Sky Receives Permit to Drill the Rayfield Copper-Gold Property, South-Central British Columbia
Vancouver, December 14, 2023 – Golden Sky Minerals Corp. (AUEN.V) (“Golden Sky” or the “Company”)
is pleased to announce that it has received a permit to drill at the Rayfield Target zone on the 100%-owned
Rayfield Copper- Gold Property (the “Rayfield Property ”) in south -central British Columbia, Canada
(Figures 1 & 2). Phase 1 of the program is anticipated to begin in early 2024 with an Induced Polarization
(IP) geophysical survey to test the 3 km x 1.5 km multi-element geochemical anomaly (Figure 3) outlined
from the 2021 and 2022 exploration programs. Phase 2 will consist of up to 3000 metres of diamond
drilling to test geochemical and geophysical anomalies outlined by the IP survey.
The 35,000-hectare Rayfield Property is located in the Quesnel Trough, British Columbia’s primary copper-
producing belt, which hosts Teck Resources’ Highland Valley Mine, Imperial Metals’ Mount Polley Mine,
Centerra Gold’s Mount Milligan Mine, and Kodiak Copper’s MPD Project (see Figure 1). The road-
accessible Rayfield Property is located approximately 20 kilometers east of the town of 70 Mile House,
British Columbia, and is accessible year-round by well-maintained service and logging roads extending
from BC Highway 97.
John Newell, President and CEO of Golden Sky, states: “The management, directors, and geological team
at Golden Sky are excited to advance the Rayfield Property , with the recent news that the Company has
received a multi-year drill permit. Over the past 2 years the geological team has completed a lot of detailed
“boots on the ground” fieldwork to better understand the Rayfield target zone, and is eager to embark on
the next stage of exploration. Golden Sky can now conduct a full range of exploration activities, including
IP geophysical surveys and diamond drilling programs for the 2024 field season on this largely
underexplored area in south central British Columbia.”
Rayfield Property Highlights
• The Rayfield Property contains the late Triassic alkalic Rayfield River Pluton, speculated to be part
of the highly prospective Upper Triassic Copper Mountain Magmatic Belt , which includes the
Copper Mountain, New Afton and Mount Polley copper deposits (Figure 2).
• Recent fieldwork by Golden Sky has outlined a 3.0 km x 1.5 km copper -in-soil geochemical
anomaly that remains open to the northwest and to the southeast (Figure 3). Within this anomaly
TSX-V: AUEN
GOLDEN SKY MINERALS CORP.
2110 -650 West Georgia Street
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www.goldenskyminerals.com
are several soil samples that assayed up to ~4,000 ppm Cu, and rock samples that assayed up to
6,319 ppm (0.63%) Cu and 245.5 ppb Au (Sample 118884; see Oct 31, 2023 news release).
• Historic exploration on the Rayfield Property has been largely constrained to a ~505-hectare zone
hosting an extensive copper-gold porphyry system outlined by soil sampling, historic drilling, and
shallow-penetration radiometric and IP geophysical surveying. Mineralization in several historic
drillholes extends from surface to end of hole , at approximately 150-250 m of depth, which
suggests that the mineralized porphyry system remains open at depth. Previous exploration
programs were unable to definitively identify the exact orientation of the porphyry system, but
mapping by Golden Sky has confirmed at least two main orientations of mineralized quartz
veins in the area . These are a northwest striking, steeply northeast dipping set, and an east -
west striking, moderately north-dipping set.
• In 2006, the Geological Survey of Canada conducted a geophysical program, which included
magnetic and radiometric surveys, over the Rayfield Property. The resulting elevated magnetic
and potassic anomalies are largely underexplored and show similar characteristics to those
signifying other alkalic copper-gold porphyries in the Quesnel Terrane. Fieldwork by Golden Sky
has confirmed a close correlation between the volume of sheeted and stockwork quartz veining
and magnetic low features. These magnetic lows are also coincident with elevated values of the
pathfinder elements manganese ( Mn), zinc ( Zn), vanadium ( V,) and barium ( Ba), which are
commonly associated with sericit ic/propylitic alteration typically bounding the core of a
porphyry system (Figure 3 & 4).
• In 1989, a 34 line -kilometer IP survey on the Rayfield Target zone outlined several chargeability
“high” zones, which were subsequently tested by drilling programs in 1989, 1990, and 2008.
Importantly, due to the shallow response of the survey (limited to ~125 m depth), these
anomalies are interpreted to remain open at depth. Golden Sky believes that , with modern
exploration methods, there is significant potential to discover additional mineralized zones at
depth (Figure 5).
• Exploration drilling on the Rayfield Property from the 1970s to the early 2000s totalled just 60
holes (7,774.2 meters), with the majority of the holes being shallow percussion holes typically <60
m in depth. Historic d rilling outlined a broad footprint (450 m x 2,100 m) of low-grade copper
mineralization and hydrothermal alteration indicating potential for a robust copper -gold
porphyry system.
o 1970 Exploration Program: 31 percussion holes totalling 1,748 m
Drillhole highlights include: 0.42% Cu over 6.1m
o 1989 Exploration Program: 8 diamond drillholes totalling 1,141 m
Drillhole highlights include: 0.18% Cu and 71 ppb Au over 33.9 m; 0.14% Cu and
30 ppb Au over 66.7 m
o 1990 Exploration Program: 14 diamond drillholes totalling 3,337 m
Drillhole highlights include: 0.13% Cu and 35 ppb Au over 152 m (EOH)
o 2008 Exploration Program: 7 diamond drillholes totalling 1,548.2 m
Drillhole highlights include: 0.13% Cu and <10 ppb Au over 67 m
• Many shallow historical drill intercepts on the Rayfield Property have similar grades to historic
holes reported during early exploration phases on some neighboring alkalic copper-gold
porphyries within the Quesnel Terrane. Further drilling is warranted to explore zones of
mineralization along strike and to depth.
Figure 1: The ~35,000-hectare Rayfield Cu-Au Property is located within the Quesnel Trough, British Columbia’s primary copper-
producing belt.
Figure 2: The Rayfield target zone is defined by a large 3.0 km x 1.5 km multi-element soil geochemical anomaly. The Rayfield
target zone is highly prospective, with anomalous copper-in-soil values grading up to ~0.40%, and rock samples grading up to
0.63% Cu and 245 ppb Au. Numerous other target zones also exist across the extensive 35,000-hectare Rayfield Property.
Figure 3: Copper-in-soil assays (2021-2022) overlying TMI Aeromagnetic survey. Elevated values in copper also coincide with
pathfinder geochemical elements commonly associated with deeper sericitic and/or propylitic alteration, typically bounding the
higher-grade core of porphyry systems. See Figure 5 for cross section A-A’.
Figure 4: Rock samples from the Rayfield Target Zone grade up to 0.63% Cu and 245.5 ppb Au. Mapping has confirmed a high
density of sheeted and stockwork quartz veining within the magnetic-low feature. This may be indicative of alteration that
typically bounds the centre of porphyry systems.
Figure 5: Cross-section A-A’ outlined in Figure 2. Historical drill results with interpreted centre of the porphyry system. Historical induced polarization surveys extend only to
~125m of depth and many of the historical drill holes ended in mineralization. Mineralization is interpreted to remain open along strike and at depth.
About Golden Sky Minerals Corp.
Golden Sky Minerals Corp. is a well- funded junior grassroots explorer engaged in the acquisition,
assessment, exploration, and development of mineral properties located in highly prospective areas and
mining-friendly districts. Golden Sky’s mandate is to develop its portfolio of p roperties to the mineral
resource stage through systematic exploration.
The drill-ready properties include Hotspot and Lucky Strike, both in Yukon, Canada. In addition, the drill -
ready Rayfield Copper-Gold Property in southern British Columbia, and the staking of the Auden Property
in Ontario, add to the Company’s substantial early-stage Canadian Property pipeline.
The Company was incorporated in 2018 and is headquartered in Vancouver, British Columbia, Canada.
More information can be found at the Company’s website at www.goldenskyminerals.com
ON BEHALF OF THE BOARD
John Newell, President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined
by National Instrument 43-101 for Golden Sky’s British Columbia exploration projects, and has reviewed
and approved the technical information in this release.
For new information from the Company's programs, please visit Golden Sky 's website at
www.GoldenSkyMinerals.com or contact John Newell by telephone (604) 568-8807 or by email at
[email protected] or [email protected].
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are “forward-looking information”
or “forward -looking statements” (collectively, “Forward -Looking Information”) within the meaning of
applicable Canadian securities legislation. In certain cases, Forward-Looking Information can be identified
by the use of words and phrases such as “anticipates”, “expects”, “understanding”, “has agreed to” or
variations of such words and phrases or statements that certain actions, events or results “would”,
“occur” or “be achieved”. Although Golden Sky has attempted to identify important factors and risks that
could affect Golden Sky and may cause actual actions, events or results to differ materially from those
described in Forward-Looking Information, there may be other factors and risks that cause actions, events
or results not to be as anticipated, estimated or intended, including, without limitation: inherent risks
involved in the exploration and development of mineral properties; the uncertainties involved in
interpreting drill results and other exploration data; the potential for delays in exploration or development
activities; the geology, grade and continuity of mineral deposits; the possibility that future exploration,
development or mining results will not be consistent with Golden Sky ’s expectations; accidents,
equipment breakdowns, title and permitting matters; labour disputes or other unanticipated difficulties
with or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses;
uncertainties relating to the availability and costs of financing needed in the future, including to fund any