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Sky Gold Applies for Drill Permits on The Mustang and Virginia Properties in Labrador, Canada: Contiguous To New Found Gold's Queensway Gold Project and Labrador Gold's Gander South Project
VANCOUVER, BC / ACCESSWIRE / March 5, 2020 / Sky Gold Corp. (TSX-V: SKYG) (OTC PINK:SRKZF)("S...
About this update from Sky Gold Corp.
[{"type":"text","content":"Sky Gold Applies for Drill Permits on The Mustang and Virginia Properties in Labrador, Canada: Contiguous To New Found Gold’s Queensway Gold Project and Labrador Gold’s Gander South ProjectVANCOUVER, BC / ACCESSWIRE / March 5, 2020 / Sky Gold Corp. (TSX-V: SKYG) (OTC PINK:SRKZF)(\"Sky Gold Cop.\" or the \"Company\") is pleased to announce it is has begun the permitting process for diamond drilling on the newly acquired Mustang and Virginia Properties, located in Central Newfoundland. The Virginia Property is contiguous to the recently announced, Labrador Gold Corp.'s (TSX-V:LAB) Gander South project (see LAB press release dated March 3, 2020)The Mustang property hosts the \"Outflow Prospect\", comprising the Mustang and Piper mineralized zones, and is located adjacent to New Found Gold Corporations' Queensway project, where they recently announced drill hole NFGC-19-01 which intersected 92.86 grams per tonne gold (g/t Au) over 19.0 m (see Mexican Gold Corp. press release dated January 26, 2020)*. Gold mineralization at Mustang was discovered at the Outflow Prospect in 1987 by Noranda Exploration Company Limited, who completed geologic mapping, trenching and shallow (average 84 m) diamond drilling (12 holes totaling 1007.6 m). In late 2001, Altius Minerals Corp. held the current claim area, with the Mustang zone anchoring a major NE-SW structural feature of prospective geology covered by a large property project known as the \"Mustang Trend.\"Gold values of up to 28 g/t Au over 0.8 m reportedly occur in dark gray hydrobreccia units which are associated with higher arsenopyrite concentrations. Selected diamond-drill assay results from Noranda's drill program include 1.27 g/t Au over 11.3 m, 0.67 g/t Au over 18.3 m and 0.92 g/t Au over 9.0 m.*The Virginia property is contiguous with the northeastern portion of New Found Gold's Queensway Gold Project, as well as Labrador Gold Corp.'s newly acquired Gander South project (see press release dated March 3, 2020). The Virginia property hosts the \"Virginia Holdings\" prospect, comprising quartz veining developed over a 35 m wide zone within sheared gabbro and graphitic shale (main shear) (Manor Resources Inc., press release, 1992). A second shear zone is hosted in gabbro 35 m north of the main shear. Anomalous soil and till samples, followed by trenching led to the discover...