Rock Samples Return Grades up to 286 g/t gold (Au), 200 g/t silver (Ag) and 37.46% Copper from the Mowich Zone on the Rayfield Property, British Columbia
Rock Samples Return Grades up to 286 g/t gold (Au), 200 g/t silver (Ag) and 37.46% Copper from the
Mowich Zone on the Rayfield Property, British Columbia
Vancouver, Sept 27, 2022 – Golden Sky Minerals Corp. (AUEN.V) (the “Company” or “Golden Sky”) is
pleased to provide an exploration update for the Mowich Zone of the Rayfield copper-gold property.
Fieldwork completed in 2022 has successfully located a historic showing (known as the Discovery
showing), with copper-rich float material (sub-mm to >5cm in size) recovered from the base of a slump.
Of the mineralized fragments, Sample D00226854 (Figure 1) returned grades of 286 g/t gold (Au), 200 g/t
silver (Ag) and 37.46% copper (Cu) (Table 1). Golden Sky geologists interpret these high -grade values to
be associated with proximal intrusions, as there is a close correlation with bismuth (Bi). QEMSCAN studies
by BaseMet Labs in Kamloops have also confirmed that the main host is highly altered and serpentinized
mafic volcanic rock. These high-grade values have likely been enriched by weathering processes but
remain a strong indicator of high-grade mineral potential in the area.
Figure 1: High-grade copper-gold fragments collected from slump at the Discovery showing within the Mowich Zone.
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
Table 1: Precious and base metal values obtained from samples collected throughout the Mowich area. Note the elevated
bismuth values associated with the highest-grade material.
Sample Gold
(g/t)
Copper
(ppm)
Copper
(%)
Silver
(ppm)
Bismuth
(ppm)
Sample
Type
Location
D00226851 <5 12.2 - <2 <5 Float Discovery Showing
D00226852 5 30.8 - <2 <5 Float Discovery Showing
D00226853 <5 452 - <2 <5 Float Discovery Showing
D00226854 286 >10000 37.46 200 36 Float Discovery Showing
D00226855 1.8 >10000 10.33 55 9 Float Discovery Showing
D00226856 0.3 282 - 2 <5 Float Upslope Area
D00226857 0.08 6970 0.69 4 <5 Float Discovery Showing
D00226858 0.013 351 - <2 <5 Float Upslope Area
D00226859 <5 37.5 - <2 <5 Outcrop Upslope Area
Tracing the slump upslope resulted in the identification of additional serpentinized fragments and the
discovery of a syenitic intrusive plug exposed in outcrop at the head of the valley. This intrusion contains
some quartz-calcite veining with trace malachite and chalcopyrite, and exhibits similar textures to some
of the copper fragments at the Discovery showing. This intrusion is surrounded by brecciated, altered
basalt and is in close proximity to conglomerates and sandstones of the Ashcroft Formation , w hich is
typically bordering major northwest-trending faults in the area.
One kilometer to the southeast of the Discovery showing lies another historical showing (the Mowich Lake
Copper showing - assays pending ). Mapping in September 2022 identified large patches of abundant
boulders comprising copper-rich Triassic basalt. The main minerals are azurite, malachite and chrysocolla,
with a high incidence of hyalite, a type of opaline silica. The Golden Sky geological team have interpreted
that these minerals may provide further evidence of a northwest-trending structure that has acted as a
conduit for copper-rich hydrothermal fluids.
Following the September 2022 fieldwork, a n additional ~6,400-hectares were staked t o cover several
interpreted northwest-trending structures and geophysical magnetic anomalies that could be the source
for both the Discovery and the Mowich Lake Copper Showings (Figure 3). Significant magnetic anomalies
border these major northwest-trending faults that may have concentrated magmatic activity in the area.
Importantly, a past-producing placer gold creek (Criss Creek) crosscuts the southeast edge of a mapped
unit of mineralized diorite/monzodiorite. A proximal source is likely, as the gold is coarse grained and has
therefore not travelled far downstream. It is hypothesized that the mapped diorite/monzodiorite could
be the source of this gold.
The ~30,000-hectare Rayfield Project 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 4). The Rayfield
copper-gold project 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 Minerals, states, “The Golden Sky Minerals geological
team continues to do solid geological work to advance the consolidated land package known as the
Rayfield Project, led by VP of Exploration Cameron Dorsey.
Rayfield has tripled in size since first staking this area 18 months ago. It now encompasses greater than
30,000 hectares and potentially hosts 4-5 solid copper-gold porphyry targets. All these well-deserved
targets will get further work done over the next few months as we move towards our maiden drill
campaign.
Porphyry deposits represent a dominant source of copper or ~65% of world production and also account
for a significant number of valuable metals (including gold) as by-products. It has long been the belief of
the management of Golden Sky Minerals that there is a tremendous need for discovery as mining
depletes reserves. These depleted reserves must be replaced through discovery and development. Major
mining companies know that to maintain their wealth they need to replace what they mine. They can do
this through discovery or purchase the resources discovered by exploration companies like Golden Sky
Minerals Corp.
The management team of Golden Sky Minerals Corp., along with the geological team, are continuously
and carefully evaluating many land packages in today’s favorable environment, with the objective of
exploring and developing additional targets like our Rayfield project.”
Figure 2: Location of all target zones outlined on the Rayfield Property. Also outlined are the high-grade copper-gold assay
values obtained from the Mowich zone. Claims have been expanded around Mowich to cover interpreted structures and
geophysical magnetic anomalies.
Figure 3: The newly expanded Mowich Zone claims overlying prospective intrusive diorites/monzodiorites and geophysical
magnetic anomalies. The high-grade results from the Discovery showing are a strong indicator of the mineral potential in the
area.
Figure 4: Rayfield copper-gold project in relation to major projects in the Quesnel Trough.
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 proje cts to the mineral
resource stage through systematic exploration.
The drill-ready projects include Hotspot, Bullseye, and Lucky Strike, all in Yukon, Canada. In addition, the
recent purchases of the Rayfield Copper-Gold Project in southern British Columbia, and the staking of the
Eagle Mountain Gold Project in the Cassiar Gold District in northern British Columbia, add to the
company’s substantial early-stage Canadian project 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 infor mation 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 Informat ion”) 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 resul ts 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 d eposits; 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 o r 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
exploration programs on its projects; that Golden Sky may not be able to confirm historical exploration
results and other risks set forth in Golden Sky's public filings at www.sedar.com. In making the forward -
looking statements in this news release, Golden Sky has applied several material assumptions, includin g
the assumption that general business and economic conditions will not change in a materially adverse
manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual
results and future events could differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on Forward -Looking Information. Except as required by law,
Golden Sky does not assume any obligation to release publicly any revisions to Forward -Looking
Information contained in this news release to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.