Business
Golden Sky Minerals Provides Corporate Update and Grant Stock Options
VANCOUVER, British Columbia, June 02, 2020 (GLOBE NEWSWIRE) -- Golden Sky Minerals Corp. (AUEN.V) is pleased to provide a corporate update regarding the status
About this update from Golden Sky Minerals Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, June 02, 2020 (GLOBE NEWSWIRE) -- Golden Sky Minerals Corp. (AUEN.V) is pleased to provide a corporate update regarding the status of the company, its current assets, and plans for the 2020 season. Amidst the COVID-19 pandemic, the company remains optimistic for the 2020 season and beyond. The Golden Sky Minerals (“Golden Sky”) corporate office in downtown Vancouver is currently closed, with all staff working from home. Despite this, operations are proceeding as effectively as possible and the company has been utilizing this time to prepare for field work to begin this summer. With over $2M cash in the bank and <10M shares outstanding, Golden Sky Minerals is strongly positioned to continue developing its current assets while exploring for future acquisitions. Yukon Assets The company’s three core assets in Yukon Territory, the Lucky Strike, Hot Spot, and Bull’s Eye properties, remain in good standing. All three properties are 100% owned by Golden Sky with no underlying payments or royalties. The Lucky Strike property, located in the heart of the Yukon’s White Gold District, hosts a 10 km trend of gold mineralization. Five gold-bearing zones have been identified on the property to date. Only one of these, the Monte Carlo zone, has been drilled, yielding notable intercepts such as 5.36 g/t Au over 22 m in the near-surface oxide zone, and 4.55 g/t Au over 7.6 m in a deeper sulphide zone (see November 13, 2018 news release). The Lucky Strike property is situated 25 km north of Newmont Goldcorp’s Coffee Gold deposit (Probable Reserve of 2.16 M oz Au) and 15 km east of White Gold Corp.’s Golden Saddle deposit (Indicated resource of 1.04 M oz Au). White Gold Corp. recently announced a $6M private placement for exploration in the White Gold District, with the maintained interest of Agnico Eagle Mines Ltd. and Kinross Gold Corp. as well as new involvement from Eric Sprott (see May 15, 2020 White Gold news release). To the west of Lucky Strike, and along the Yukon-Alaska border, is the Hot Spot property, a newly-discovered gold occurrence in an underexplored area of the Yukon. Situated along the Big Creek Fault, the Hot Spot property hosts a 1.7-kilometer-long mineralized structure with gold-in-soil values up to 4.1 g/t Au and a pathfinder element signature indicative of a low-sulphidation epithermal syste...