“Golden Sky Minerals Corp. takes advantage of surging copper prices by acquiring the prospective Rayfield Copper-Gold Property in the Quesnel Trough, south-central British Columbia.”
“Golden Sky Minerals Corp. takes advantage of surging copper prices by acquiring the prospective
Rayfield Copper-Gold Property in the Quesnel Trough, south-central British Columbia.”
May 18, 2021 – Golden Sky Minerals Corp. (AUEN.V) (the “Company” or “Golden Sky”) is pleased to
announce that, through staking and property purchases, the Company has acquired the ~11,000-hectare
Rayfield Copper-Gold Property in southern British Columbia, Canada, a Tier 1 mining jurisdiction. With the
acquisition of the ~50 5-hectare Rayfield 001 and ~80 -hectare Owen properties, Golden Sky has
consolidated its Rayfield Property. Both properties are located within the staked boundary of the Rayfield
Property, which will be 100% owned by Golden Sky with no underlying royalties once the purchase
agreements are complete (see “Transaction Details”) . The 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 1). 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 (see Figure 2).
Rayfield Property Highlights
• The Rayfield Property contains the Late Triassic alkalic Rayfield River Pluton, speculated to be part
of the highly prospective Late Triassic Copper Mountain Magmatic Belt , which includes the
Copper Mountain, New Afton and Mount Polley copper deposits.
• Historic exploration on the Property has been largely constrained to a ~505-hectare zone with an
extensive copper -gold porphyry system outlined by soil sampling, drilling, and shallow -
penetration radiometric and IP geophysical surveying. Mineralization in several historic drillholes
extends from surface to end of hole, which suggests that the mineralized porphyry system
remains open to depth. Previous exploration programs were unable to definitively identify the
exact orientation of the porphyry system, but it is believed to be striking to the northwest and
dipping to the northeast.
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
GoldenSkyMinerals.com
• In 2006, the Geological Survey of Canada conducted a geophysical survey over the Rayfield
Property that included magnetic and radiometric surveys. 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 (see Figure 3 and 4).
• In 1989, a 34 line -kilometer Induced Polarization (IP) survey on the Rayfield Property 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 to depth. Golden Sky believes that ,
with modern exploration methods, there is significant potential to discover additional
mineralized zones at depth.
• Exploration drilling on the property from the 1970’s to the early 2000’s 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 suggesting a very 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 164 m
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 determine if drilling to
date on the Rayfield Property intersected the higher-grade core of the porphyry system.
John Newell, President and CEO of Golden Sky Minerals, states, “The Rayfield Copper Gold Property is a
quality project with immediate exploration upside and the potential to delineate a major copper-gold
porphyry system. We are truly excited about this copper-gold asset and pleased to have secured it through
staking and a property purchase agreement with private individuals. With the price of copper reaching
new all-time highs, we are hopeful this copper-gold property will complement and add value to the
Company, along with our three other gold projects in the Yukon.”
Transaction Details
Golden Sky has entered into a property purchase agreement to acquire a 100% interest in the Rayfield
001 Property, subject to the approval of the TSX-Venture Exchange and other customary conditions. The
terms consist of:
• A cash payment of C$3,000 upon signing of the agreement;
• A cash payment of C$5,000 30-days after signing of the agreement;
• 20,000 Golden Sky common shares upon closing of the transaction
Golden Sky has also entered into a property purchase agreement to acquire a 100% interest in the Owen
Property subject to any customary conditions. The terms consist of:
• A cash payment of C$1,000 upon signing of the agreement
John Newell, President and CEO of Golden Sky Minerals, further states:
“The acquisition of the contiguous Rayfield 001 and Owen claims extends our Rayfield Project area and is
an excellent strategic fit for Golden Sky Minerals. The Rayfield 001 property is where most of the historical
drilling has taken place in the past and is where the potential for large-scale copper-gold porphyry
mineralization was first defined. The historical work conducted on Rayfield 001 will act as a staging point
in the property-wide search for the high-grade core areas of the copper-gold porphyry system.
Golden Sky Minerals believes there is considerable exploration upside at depth, and in underexplored
areas on the property. We look forward to unlocking this excellent potential, with a view to potentially
make an important discovery.”
The unprecedented positive market conditions for copper renders Golden Sky’s 100% control of an easily
accessible copper-gold bearing area within the prolific Quesnel Belt as a compelling opportunity for our
shareholders. Previous drilling on the property may have missed high-grade core areas of the copper-gold
porphyry system which may exist at Rayfield. Golden Sky will now apply modern geophysical and
geological exploration techniques to explore the underexplored Rayfield Property.
Golden Sky is in the planning stage to actively explore and drill this property in 2021.
Figure 1 Rayfield Copper-Gold Property Location Map
Figure 2 The ~11,000 ha Rayfield Copper-Gold Project was acquired through staking and property purchases (Rayfield 001 and
Owen properties). Access and infrastructure are excellent, with proximity to the nearby town of 70 Mile House along Highway
97, and with all-season service road access to the property.
Figure 3 High-potassium anomalies outlined from a radiometric survey conducted by the Geological Survey of Canada (2006).
Note the linear potassic high in the centre of the figure, interpreted to correlate to the ~north-south trending Rayfield River.
Figure 4 The outlines of high-potassic anomalies (from Figure 2) overlaying a total magnetic survey conducted by the Geological
Survey of Canada (2006). Note the anomalies have only been tested by a single historic drillhole in 1989.
About Golden Sky Minerals Corp.
Golden Sky Minerals Corp. is a Canadian exploration company which evaluates, acquires, and develops
mineral properties in Canada. The company explores primarily for gold and copper deposits.
The company has three main projects in the White Gold District located in the Yukon Territory of
Canada: The Hotspot, Bullseye and Lucky Strike properties. All the properties are 100% owned by
Golden Sky with no underlying royalties. The company is currently planning for, and undergoing
permitting of, drill campaigns for all its properties in the Yukon, and the recently acquired Rayfield
Property, scheduled for later in 2021.
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 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 “an ticipates”, “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, e stimated 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
exploration programs on its projects; that Golden Sky may not be able to confirm historical exploration