Sky GOLD Receives $200,000 Grant from the Ontario Junior Exploration Program FOR the STAR Lake Nickel-Copper-Cobalt- Platinum Group Element Property, Ontario
SKY GOLD RECEIVES $200,000 GRANT FROM THE ONTARIO JUNIOR
EXPLORATION PROGRAM FOR THE STAR LAKE NICKEL-COPPER-COBALT-
PLATINUM GROUP ELEMENT PROPERTY, ONTARIO
September 21, 2023, Vancouver, BC, Canada – SKY GOLD CORP. (“Sky” or the “Company”)
(TSX.V:SKYG) (US:SRKZF) is pleased to announce that the Company has been selected to receive a
$200,000 grant from the Ontario Junior Exploration Program (“OJEP”), to assist in exploring the Star Lake
nickel-copper-cobalt-platinum group element property (the “Property”). The Property, comprising 5,894
hectares, is located 70 km west of the City of Thunder Bay and 5 km southwest of the past -producing
Shebandowan Ni -Cu-Co-Cr-PGE mine, operated by Inco Ltd. during the period of 1970 t o 1998. The
Shebandowan mine is a world -class example of a primary magmatic nickel sulphide deposit, with
produced tonnage & grade of 8.7 MT at 2.0% nickel, 1.0% copper, 3.0 g/t platinum + palladium (cobalt
and chrome grades unknown).
A new corporate presentation is now available at https://www.skygoldcorp.com/presentation.
The Star Lake Ni-Cu-Co-Cr-PGE Property:
Highlighting the opportunity on the Property is an extensive cluster of strongly anomalous nickel, copper,
cobalt, chrome, platinum and palladium in glacial till values, delineated by an Ontario Geological Survey
investigation in 2000. The most anomalous samples from the entire survey occur at Star Lake, featuring
values of up to 345 ppm nickel, 44 ppm cobalt, 398 ppm chrome, 4.15 ppb platinum and 4.13 ppb
palladium, collectively forming several discrete anomalies over a large area of several square kilometres.
Such geochemical anomalies are closely related to mafic and ultramafic rocks and several EM anomalies
occur along stratigraphic trend as well. Mapped lithologies include peridotite, pyroxenite and gabbro
flows and sill-like bodies, similar to the host rocks at the neighbouring Shebandowan mine.
In addition to the Ni-Cu-Co-PGE potential of the Property, there is excellent potential for the discovery
of orogenic gold deposits as well. Historic geochemical work completed by Mingold in the 1980’s,
delineated an area in the SW part of the Star Lake property containing an elevated number of gold grains
supplemented by anomalous geochemical assays in gold, at several sample sites (the “Mingold anomaly”).
The Mingold anomaly is contained within a broader area containing high values in arsenic, antimony, lead
and zinc, obtained in glacial till and lake sediment samples. Such an anomaly is located proximal to a
crustal-scale structure, the Tinto Fault, enhancing the prospects for the occurrence of orogenic gold
deposits to occur on the Property.
A fall exploration program of detailed glacial till sampling will be completed by the Company to better
define the size, shape and strength of the Ni -Cu-Co-PGE and Au-As-Sb-Pb-Zn geochemical anomalies in
preparation for later diamond drilling. The detailed till sampling program will also be accompanied by a
VTEM airborne geophysical survey (magnetics and EM) to assist in drill target selection.
Michael England, CEO of Sky Gold stated: “We are very appreciative to be a recipient of the $200,000
grant from OJEP and acknowledge the assistance of the Ontario Government to support the important
process of grass -roots exploration. We look forward to commencing the exploration program at Star
Lake.”
ON BEHALF OF THE BOARD
“Mike England”
Mike England, CEO, PRESIDENT & DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
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
Certain statements in this release are forward -looking statements, which reflect the expectations of management
regarding the matters described herein. Forward -looking statements consist of statements that are not purely
historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such
statements are subject to risks and uncertainties that may cause actual result s, performance, or developments to
differ materially from those contained in the statements, including with respect to the completion of all aspects of
the acquisition including completion of the share issuance, payments and work expenditures. No assurance can be
given that any of the events anticipated by the forward -looking statements will occur or, if they do occur, what
benefits the Company will obtain from them. These forward-looking statements reflect management's current views
and are based on certai n expectations, estimates and assumptions which may prove to be incorrect. A number of
risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the
forward-looking statements, including factors beyond the Company's control. These forward-looking statements are
made as of the date of this news release.