Business
Sky Gold Acquires the Star Lake Nickel-Copper-Cobalt-Chrome-Platinum Group Element Property in The Shebandowan Greenstone Belt, Northwestern Ontario
VANCOUVER, BC / ACCESSWIRE / March 23, 2023 / SKY GOLD CORP. ("Sky" or the "Company") (TSX.V:S...
About this update from Sky Gold Corp.
[{"type":"text","content":"Sky Gold Acquires the Star Lake Nickel-Copper-Cobalt-Chrome-Platinum Group Element Property in The Shebandowan Greenstone Belt, Northwestern OntarioVANCOUVER, BC / ACCESSWIRE / March 23, 2023 / SKY GOLD CORP. (\"Sky\" or the \"Company\") (TSX.V:SKYG)(OTC PINK:SRKZF) is pleased to announce the acquisition of the Star Lake nickel-copper-cobalt-chrome-platinum group element property (the \"Property\"), situated approximately 60 kilometres west of the City of Thunder Bay, in northwestern Ontario. The Property is well located proximal to infrastructure, five (5) km southwest of the past-producing Shebandowan Ni-Cu-Co-Cr-PGE mine, operated by Inco Ltd., during the period of 1970 to 1998. The Shebandowan mine is a world-class example of a primary magmatic Ni-Cu-Co-Cr-PGE deposit, with produced tonnage and grade of 8.7 million tonnes at 2.0% nickel, 1.0% copper and 3.0 g/t platinum-group-elements (cobalt and chrome grades are unknown).Star Lake Ni-Cu-Co-Cr-PGE Property:Consistent with the Company's strategy of acquiring high-quality strategic, battery-metal properties, proximal to world-class assets, the large Property comprises 333 unpatented claims totaling 5,894 hectares, situated in Begin, Laurie and Duckworth townships in the Thunder Bay Mines and Minerals Division. The Property can be explored 12 months a year and also has exploration permits in place, enabling exploration to commence immediately.Highlighting the exploration opportunity on the Property, is a cluster of strongly anomalous nickel, cobalt, chrome and platinum-in-glacial till geochemical anomalies, delineated by an Ontario Geological Survey investigation of the Shebandowan greenstone belt, completed in 2000 (Bajc 2000). The highest Ni-Co-Cr-PGE anomalies reported in the till survey occur on the Star Lake property, in Begin township, just to the east of Greenwater Lake and in neighbouring points beyond to the east. In these locales, values of up to 345 ppm nickel, 44 ppm cobalt, 398 ppm chrome and 3.6 ppb platinum occur, collectively forming a distinct cluster of strongly anomalous sample sites, over a large area (see Maps 1A to 1D). The geochemical anomalies are closely related to mafic and ultramafic rocks on the Property and several electromagnetic anomalies (EM conductors) occur along stratigraphic trend from these anomalies, as well. Clearly, additional detailed g...