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Sky Gold Consolidates Land Position in The Shebandowan Greenstone Belt, With the Acquisition of The KA Ni-Cu-Co-Cr-PGE Property, Northwestern Ontario
VANCOUVER, BC / ACCESSWIRE / July 12, 2023 / SKY GOLD CORP. ("Sky" or the "Company") (SKYG-TSX...
About this update from Sky Gold Corp.
[{"type":"text","content":"Sky Gold Consolidates Land Position in The Shebandowan Greenstone Belt, With the Acquisition of The KA Ni-Cu-Co-Cr-PGE Property, Northwestern OntarioVANCOUVER, BC / ACCESSWIRE / July 12, 2023 / SKY GOLD CORP. (\"Sky\" or the \"Company\") (SKYG-TSX:V)(OTC PINK:SRKZF) is pleased to announce the acquisition of the KA nickel-copper-cobalt-chrome-platinum group element property (the \"Property\"), situated approximately 60 kilometres west of the City of Thunder Bay, in northwestern Ontario. This acquisition bolsters the Company's dominant land position, proximal to the past-producing Shebandowan Ni-Cu-Co-Cr-PGE mine (five km southwest), 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). The Consolidated Property:Consistent with the Company's strategy of acquiring high-quality strategic, battery-metal properties, proximal to world-class assets, the Property comprises 37 unpatented claims totaling 655 hectares, situated in the Begin Township in the Thunder Bay Mines and Minerals Division. The Property can be explored 12 months a year and has an exploration permit in place, enabling exploration to commence immediately.The addition of the KA property in combination with the earlier acquired Greenwater Lake and Star Lake properties (see Sky news releases dated March 2, 2023 & May 2, 2023 respectively) provide the Company with a commanding land position (the ‘Consolidated Property') in the central portion of the Shebandowan greenstone belt (Figure 1). Highlighting the exploration opportunity on the Consolidated Property (7,269 hectares), is a large 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 (Bajc 2000). The highest Ni-Co-Cr-PGE values reported in the entire till survey area occur within the Consolidated Property confines, in the Begin Township, just to the east of Greenwater Lake. In these locales, values of up to 345 ppm nickel, 44 ppm cobalt, 398 ppm chrome, 4,15 ppb platinum & 4.13 ppb palladium occur, collectively fo...