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Vancouver, British Columbia – September 14, 2020 – Sky Gold Corp. (TSX-V: SKYG) (US:SRKZF)("Sky Gold Corp." or the “Company”) is pleased to announce it is proceeding with a notice level application to the Bureau of Land Management (BLM), Carson City office, for an upcoming drill program on its Evening Star Property, located in Mineral County, Nevada.
The Evening Star property is located only 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.
BLM and County fees and filings have been recently completed over an expanded property of 62 unpatented mineral claims comprising approximately 1,200 acres. The enlarged property was designed to expand the area around new surface showings discovered by the Company in 2018 (see PR 2018-01-16 and PR 2018-07-11) which have never been drilled:
The Company cautions investors that the surface sampling is preliminary in nature and that grab samples are selected samples and are not necessarily representative of the mineralization on the property.
In addition, the Company is receiving bids from geophysical contractors for a high-resolution ground magnetics survey over portions of the property to assist with the selection of drill targets.
The Evening Star property was last drilled by the Company in 2017- 2018 with a series of shallow holes (5 holes, 661.7 meters), directed at skarn and CRD (carbonate replacement deposit) mineralization over the historic Gold Bug mine area. Highlights included in hole ES17-02, 5.3 meters averaging 0.84 g/t Au, 105.3 g/t Ag, 5.09% Cu, and 0.86% Zn, hole ES18-03, 3.0 meters averaging 0.46% Cu, and 2.6 meters 0.33% Cu, and hole ES-18-04, 4.6 meters averaging 0.68% Cu.
The proposed Notice of Intent (NOI) exploration permit with the BLM will cover additional disturbance areas created to establish drill road access and drill sites over the Gold Bug zone and the new discovery targets. The Company, when possible, attempts to drill multiple holes from single drill pads on existing roads to minimize the amount of surface disturbance created by drilling activities.
"We are looking forward to reactivating exploration activities and drilling on our Evening Star property in Nevada. With excellent logistics and the ability to work year-round, it is an excellent complement to our ongoing exploration activities on the Mustang and Virginia properties in Newfoundland. " stated Mike England, Sky Gold CEO.
All Company activities are conducted under guidelines and policies compliant with Federal and State health and safety protocols related to the COVID-19 pandemic.
The Company would also like to announce a correction to its amended terms of the “Purchase Agreement” (see PR dated September 3, 2020) related to the Evening Star Property in Mineral County, Nevada dated Nov. 23, 2016. With a final payment of US $50,000 and the issuance of 500,000 shares payable immediately to Multiple Metal Resources Ltd., the Company will have fulfilled its earn-in obligations and will own an 80% interest in the Evening Star Property. The further option to earn the remaining 20% remains unchanged. This amendment is subject to TSX Venture approval.
Catherine Fitzgerald, P.Geo., a Qualified Person under National Instrument 43-101, 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 (Carbonate Replacement Deposit) base and precious (silver and gold) mineralization.
ON BEHALF OF THE BOARD
Mike England, CEO & DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT:
Tel: +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: 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).