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Golden Sky Minerals Options the Squid East Property in the Matson Creek Placer Camp, Yukon
VANCOUVER, British Columbia, March 15, 2022 (GLOBE NEWSWIRE) -- Golden Sky Minerals Corp. (TSXV: AUEN.V, OTC:MCREF) (the “Company” or “Golden Sky”) is pleased t
About this update from Golden Sky Minerals Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, March 15, 2022 (GLOBE NEWSWIRE) -- Golden Sky Minerals Corp. (TSXV: AUEN.V, OTC:MCREF) (the “Company” or “Golden Sky”) is pleased to announce that the company has signed an option agreement with Metals Creek Resources Corp. (TSXV: MEK, OTC: MCREF) whereby Golden Sky has the right to earn a 100% interest in the company’s Squid East claims in the Yukon. Metals Creek Resources Corp (Metals Creek) initially staked the Squid East Property in February 2011, during the staking rush that ensued after the discovery of the White Gold deposit. The claims are located proximal to the Matson Creek placer gold operations, approximately 80 km northwest of Newmont’s Coffee Project and 90 km southwest of Dawson City. Soil sampling, trenching and limited diamond drilling carried out in 2013 and 2017 resulted in the discovery of a new gold (Au)-silver (Ag) zone with characteristics similar to other discoveries in the White Gold district. Adding the Squid East Property bolsters Golden Sky’s land package in a district known for metallogenically diverse deposit settings including significant porphyry copper-gold-molybdenum (Cu-Au-Mo) systems, Intrusion Related Gold systems (IRGS), and Volcanogenic Massive Sulphide (VMS) systems (Figure 1). John Newell, President and CEO of Golden Sky Minerals Corp. states: “Golden Sky Minerals and the geological team are excited to compile the recently acquired Squid East data and get boots on the ground as soon as possible. We plan on confirming and expanding the known showings but also investigating areas that previous exploration may have overlooked. To add to this, the Squid East property is a neighbour to our recent bonanza-grade discovery on the Hotspot Property (42.4 g/t Au over 1.05 m, within 102 meters of 0.85 g/t Au in hole HS-21-02). We plan on using what we’ve learned at Hotspot and applying some of the same techniques at Squid East.” Golden Sky Minerals Hotspot Property is located 18 kilometers southwest of the Squid East option along the Yukon-Alaska border (Figure 2). The properties are located in the North Ladue placer district which has produced >20,000 oz of placer gold. The North Ladue area is ~50km south of the prolific Sixtymile placer district which has produced >230,000 oz of placer gold historically. Squid East Property Highlights The Squid Property is locate...