Sky GOLD Update ON Geophysical Surveys FOR Silver-Rich Targets ON the Evening STAR Property, Nevada
SKY GOLD UPDATE ON GEOPHYSICAL SURVEYS FOR
SILVER-RICH TARGETS ON THE EVENING STAR PROPERTY,
NEVADA
Vancouver, British Columbia – March 17 th, 2021 – Sky Gold Corp. (TSX -V:
SKYG) (US:SRKZF) ("Sky Gold Corp." or the “Company”) is pleased to report on
two geophysical surveys completed on its Evening Star Property, located in Mineral
County, Nevada. The Company awaits assays from the remaining 17 holes drilled at
its Mustang Project located in Newfoundland.
The Evening Star prop erty is located 12 kilometers southeast of the town of
Hawthorne, and is contiguous to the Pamlico property, owned by Newrange Gold Corp.
The Evening Star property covers two historic, formerly producing mines; the Evening
Star mine and the Gold Bug mine, and is prospective for gold, silver, and base metal
mineralization in several deposit types. One objective of the recent surveys was to
assist the targeting of silver-rich skarn and/or Carbonate Replacement Deposit (“CRD”)
mineralization encountered in a single diamond drill hole in 1970 (exact collar location
unknown) which were reported to have returned the following historic intercepts:
Silver equivalent (Ag Eqv) values are calculated assuming 100-per-cent recovery using $24.00
(U.S) per oz Ag, $3.50 per pound Cu , $0.95 per pound Pb, and $1.25 per pound Zn. The
company is disclosing results on a silver equivalent basis due to the overall silver -dominant
value of the mineralization. It was confirmed by the geologist on the historic 1970 drill hole
that it was not assayed for gold.
The reader is cautioned that these historic drill hole results from 1970 were completed prior to
the implementation of National Instrument 43 -101 and must be considered only as a historic
reference. Neither the Company nor its Qualified Person have completed sufficient work to
verify this historic drill hole, and they should not be relied upon.
Magee Geophysical Services based in Reno, Nevada completed a ground magnetic and
gravity survey over the northern portion of the Evening Star property with detailed 33-
meter line spacing in the target area of the 1970 drill hole. Interpretation and review
were completed by Wright Geophysics based in Elko, Nevada. The detailed portion of
the ground magnetics and gravity surveys were conducted over 0.4 square kilometers,
and the larger survey at 66 -meter spacing covered approximately 5.8 square
kilometers.
The ground magnetic and gravity surveys were successful in supporting lithological
interpretations and defining structures over much of the property. North-south and
east-west structural features that traverse the property were indicated . Seven
structures were identified as having the same orientation (WNW-ESE) as the La Panta
vein, a historic producer of gold. One of these structures traverses the area of historic
exploration in the vicinity of the Gold Bug mine , near the projected area of the 1970
drill hole. Figure 1 shows skarn targets as interpreted from the detailed gravity results
along with a La Panta parallel structure target.
The Company views this La Panta parallel structure, that extends directly through the
Gold Bug mine workings, coincident with a strong magnetic high anomaly, as a priority
drill target for silver-rich skarn/CRD mineralization similar to the intercepts cut in the
drill hole completed in 1970.
FIGURE 1 (J L Wright, Internal Report 2020) Skarn and La Panta Target Areas over
Gravity Vertical Derivative data.
The Company is pleased to announce that EM Strategies has been retained to lead the
permitting of a drill program directed at the above targets and additional zones on the
federal Bureau of Land Management (“BLM”) claims on the Evening Star property. EM
Strategies, based in Reno and Elko, specializes in third party and proponent work with
the BLM, U.S. Forest Service (“USFS”), and state and county governments to provide
permit acquisition and regulatory compliance services. The Evening Star was most
recently permitted in May 2017 by the Company.
Qualified Person
Catherine Fitzgerald, P.Geo ., a Qualified Person under National Instrument 43 -101,
and Independent Director of Sky Gold, is the Qualified Person responsible for reviewing
and approving the technical contents of this news release as they pertain to the
Evening Star property.
About Sky Gold Corp.
Sky Gold Corp. is a junior mineral exploration company engaged in acquiring and
advancing mineral properties in Canada and the USA. In addition to the Company’s
Newfoundland properties, the Company also owns the Evening Star property, located
12 km southeast of Hawthorne, NV, which is prospective for gold mineralization and
CRD (Carbo nate Replacement Deposit) base and precious (silver and gold)
mineralization.
ON BEHALF OF THE BOARD
“Mike England”
Mike England, CEO & Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Tel. 1-604-683-3995
Toll Free. 1-888-845-4770
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: This news release contains forward -looking statements, which relate
to future events or future performance and reflect management’s current expectations and assumptions.
Such forward -looking statements reflect management’s current beliefs and are based on assumptions
made by and information currently available to the Company. Investors are cautioned that these forward-
looking statements are neither promises nor guarantees and are subject to risks and uncertainties that
may cause future results to differ materially from those expected. These forward -looking statements are
made as of the date hereof and, except as required under applicable securities legislation, the Company
does not assume any obligation to update or revise them to reflect new events or circumstances. All of the
forward-looking statements made in this press release are qualified by these cautionary statements and
by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).