Golden Sky Stakes 263 km2 Property East of the Beardmore-Geraldton Greenstone Belt, Ontario
Golden Sky Stakes 263 km2 Property East of the Beardmore-Geraldton Greenstone Belt, Ontario
Vancouver, Nov 27, 2023 – Golden Sky Minerals Corp. (AUEN.V) (the “Company” or “Golden Sky”) is
pleased to announce that, through staking, the Company has acquired the district-scale 26,300-hectare
Auden Gold Property ~50 km east of the Beardmore-Geraldton Greenstone Belt, Ontario, Canada (Figure
1). The Property is 100% owned by Golden Sky with no underlying royalties. The Auden Property is located
in an underexplored region that is primarily underlain by an east-west trending sequence of mafic
metavolcanics, metasediments, and iron formation that shares many geological similarities with other
major orogenic gold camps i n the region. The most important feature of the property, the Auden
Structural Zone, is a significant east -west trending fault interpreted to be an eastward extension of the
gold-producing Beardmore-Geraldton structural system (Figure 2).
With a similar geological setting to Equinox/Orion’s Greenstone Gold Mines (5.05 Moz Au), Agnico Eagle’s
Detour Lake Mine (20.6 Moz Au) and other orogenic camps , including the Timmins and Kirkland Lake
camps, Golden Sky believes there is high potential for the expansion and discovery of new gold targets on
the property. The road -accessible Auden Gold Property is located approximately 65 km northwest of
Hearst, Ontario, and is in close proximity to the paved Highway 11.
Auden Property Highlights:
• District-scale opportunity with 26,300 hectares that covers a ~70 km strike-length of the Auden
Structural Zone, which has historically been interpreted to be an extension of the Beardmore -
Geraldton structural system. The zone remains largely untested despite anomalous gold values
being recorded from drilling and surface rock samples.
• Due to extensive overburden cover in the region (<5% outcrop), past operators relied heavily on
geophysical survey results followed by early-phase exploration drilling with widely-spaced holes
over several kilometers. Within the property area, 58 historical drill holes have been recorded.
These early drill programs were typically limited to following up on ground-based geophysical
targets, as the first large-scale airborne geophysical survey was not conducted until 1993. Though
limited in scope, the drilling successfully demonstrated that precious metal mineralization is
associated with a major east -west oriented structure that extends ~70 km (Auden Structural
Zone) (Figure 3).
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
• Some of the earliest recorded drilling was by the Fatima Mining Company Ltd. from 1956 to 1958.
These holes are located in the western portion of the property. A total of 20 drill holes were
spaced over 15 km of sheared and folded metasediments, quartz porphyry and iron formation
(Figure 4) . Almost every hole intersected zones of carbonate alteration, quartz veining, and
semi-massive to disseminated sulphides. There is no report of gold assays, as the focus was on
base metals. In 1990, McKinnon Prospecting conducted a field visit that included reanalysis of a
few samples of Fatima Mining’s core . One sample of semi-massive coarse -grained pyrite -
pyrrhotite mineralization assayed 367 ppb gold and 250 ppm arsenic , which highlights the
prospectivity for gold mineralization in the area.
• In 1965, Colleen Copper Mines Ltd. explored around the Nagagami River in a zone of
metavolcanics, conglomerate, iron formation and quartz porphyry with semi-massive to
disseminated sulphides. A grab sample assayed 25 g/t Au and 2.36% Cu (unverified). A follow-up
4-hole drill program that focused on base metal exploration disclosed only two reported assays,
both from Hole CC4 (0.41% Cu over 1.5 m and 0.1% Cu over 1.5 m) (Figure 5).
• From 1976-1978, Shell Canada Resources Ltd. conducted a regional program but never filed this
work for assessment credit. Shell successfully delineated a regional structure that was later
termed the Auden Structural Zone. An estimated 12 holes were drilled in the region ; in spite of
strong alteration and the presence of arsenopyrite -pyrite-pyrrhotite mineralization, no assay
results were recorded. In 1993 McKinnon Prospecting compiled the Shell data and collected 48
samples to analyze for gold and arsenic. The gold assays ranged from 19 ppb Au to 1,277 ppb Au.
In drillhole S78.04, o ne section of highly deformed pyrrhotite -rich, arsenopyrite-bearing iron
formation assayed 0.670 g/t Au over 16.9 m (Figure 5).
• The most recent significant exploration occurred from 1988-1993 by McKinnon Prospecting, who
was the first to conduct a comprehensive, property-wide airborne VLF-EM geophysical survey
which highlighted 34 target areas. A follow-up 17-hole drill program provided critical insight into
the geology of the region and either extended or discovered several strongly altered shear zones
with anomalous precious metal values. One of the most compelling magnetic and electromagnetic
(EM) geophysical targets was tested by holes MP-17-1, MP-14-1 and MP-13-1, collared at multi-
kilometric intervals along an 8 -km east-west trend (Figure 5). The most westerly hole, MP-17-1,
intersected a 27 m wide zone of pyrrhotite -rich iron formation that was selectively sampled ,
returning encouraging assays of 3.33 g/t Au over 1.2 m, 1.22 g/t Au over 1.5 m, and 1.54 g/t Au
over 0.7 m. Hole MP-14-1 was collared 1.5 km to the east and intersected anomalous gold values
over several metres, with the highest value of 0.8 g/t Au over 1.3 m. Hole MP-13B-1 was collared
2.7 km east of MP -14-1 and returned an assay of 0.19 g/t Au over 0.95m. These 3 holes
intersected similar geology over ~4.2 km. The continuity of these rock units is further supported
by airborne magnetic geophysics, which highlights the potential for further exploration along
this trend.
• Nearby infrastructure includes an extensive back-country road network, electric power grid,
paved Highway 11, rail access, and local accommodations in Hearst, Ontario (2021 pop: 4,794),
located 60 km to the southeast. These factors support very cost-effective exploration.
John Newell, President and CEO of Golden Sky Minerals, states : “The acquisition of a new mineral
exploration property near the renowned Geraldton-Beardmore gold district in northern, Ontario, marks a
significant expansion for Golden Sky Minerals. This area is noted for its prolific gold production, making it
a strategic choice for the company, outside of the Canadian cordillera. With this latest acquisition, Golden
Sky Minerals has diversified its exploration portfolio across three of Canada's most prolific mineral
districts: Beardmore-Geraldton, Ontario; the Quesnel Trough, BC; and the Tintina Gold Belt, Yukon. This
diversification demonstrates the company's comprehensive approach to mineral exploration and its
commitment to pursuing a variety of opportunities in various geological settings.”
Figure 1: The ~26,300-hectare Auden Property is located east the Beardmore-Geraldton Greenstone Belt of Ontario, Canada. Information referenced from Torr Metals Corp. News
Release dated Oct. 26, 2023, Figure 1.
Figure 2: The Auden Property is interpreted to overlie an extension of the gold-producing Beardmore-Geraldton Structure.
Figure 3: Only 58 historic drill holes are recorded within the property. Many of the drill holes identify zones of gold mineralization hosted within a geologic setting that shares
many similarities with other orogenic gold camps in the region.
Figure 4: Drilling highlights covering ~15 km of strike length (West Block). Drilling by Fatima Mining (1956-1958) and McKinnon Prospecting (1988-1993). Modern airborne
geophysics was conducted in 2013 (GTA Resources and Mining) with many untested EM anomalies.
Figure 5: Drilling highlights covering ~8 km of strike length (Mid-East Block). Drilling by Shell Canada (1976-1978) and McKinnon Prospecting (1988-1993). A gold-trend ~8 km in
strike length is defined by limited grab samples and drilling and remains open in all directions.