Great news for a Thursday morning
Take Care, Year of the Profit, Oilseeker
May 27th, 2021 – Sky Gold Corp. (TSX-V: SKYG) (US:SRKZF) ("Sky Gold" or the “Company”) is pleased to announce that it has signed two definitive agreements (collectively the “Agreement”) for two contiguous claim blocks (the “claims” or “Projects”) comprising the Imperial Property (“Imperial” or the “Property”) which shares 4.7 kilometers of it’s northern border with Amex Exploration’s (TSX-V: AMX) Perron Property in Quebec, where high-grade gold has been intersected in three zones along a 3.2 kilometre corridor. To the east, the claims adjoin Generic Gold Corp. (CSE: GGC) who are set to commence 7,500 metres of drilling in the coming weeks, targeting both orogenic gold and gold-rich volcanogenic massive sulfides (VMS) style mineralization. The two Projects, named La Reine and Le Roi, comprise a combined 228 claims covering approximately 6,575.84 hectares in the gold and VMS-prospective Abitibi Greenstone Belt region of Ontario and Quebec. Refer to maps in Figures 1 & 2.
Mike England, CEO & President, commented: “The acquisition of the Imperial Property is a result of over 12 months of discussions and negotiations, and we are most excited to finally get this deal done. New geological interpretations in Quebec have now been leading to very exciting discoveries, such as Amex and Starr Peak have seen, and we are eager to begin exploring for gold and base metals in very similar geological units in Quebec as well as on trend across the border into Ontario.”
The Imperial Property
The Imperial Property is located to the Southwest of, and contiguous with Amex Exploration Inc.’s (TSX-V: AMX) Perron project, which has made several significant high-grade gold discoveries. Recently announced noteable gold intersections at Perron include 70.92 g/t Au over 3.90 metres, including 367.50 g/t Au over 0.60 metres, at 160 metres vertical depth, and 70.92 g/t Au over 3.90 metres, including 367.50 g/t Au over 0.60 metres, at 190 metres vertical depth (refer to AMX news release May 26, 2021). Further to the Northeast is the past-producing Normtal mine, currently held by Starr Peak Exploration (TSX-V: STE), which was mined periodically from the 1930’s through to 1975 from surface to a depth of 2.4 km (SIGEOM-Mine Normtal).
The Property is underlain by a mafic-intermediate metavolcanics belt of the Stoughton-Roquemaure Group and the Hunter Mine Group, bordered to the North by a greywacke Unit of the Chicobi Group and to the South by the Abitibi Lake syn-tectonic pluton. The Property is crossed east-west by the Abitibi Thrust Fault, which dips 70 degrees to the South. The overall lithological package strikes east-west and deeps steeply to the South and is contiguous to the Amex Exploration property to the North East.
Historical exploration efforts across the Property have resulted in the discovery of 10 mineral showings (Mineral Deposit Inventory Record – Ontario Government) across the project. Historical exploration works include diamond drilling, overburden drilling, airborne magnetics, ground geophysics including magnetics and electromagnetics, surface geochemistry, geological mapping, and prospecting. Companies that conducted the work include but are not limited to Kennco, Canadian Superior Ltd., Asarco, Cominco, Eastern Mines Inc., Seal River Exploration, and East West Resources Corp. Mineralization at showings range from anomalous copper and zinc associated with disseminated to massive sulfide layers (pyrrhotite/pyrite), gold in till from overburden drill sampling with a high amount of delicate gold grains (indicating a proximal source), as well as trace to anomalous gold and copper in diamond drilling