Sky Gold Expands Mustang Property in Central Newfoundland Contiguous to New Found Gold's Queensway Gold Project

About this update from Sky Gold Corp.

[{"type":"text","content":"Sky Gold Expands Mustang Property in Central Newfoundland Contiguous to New Found Gold's Queensway Gold ProjectVANCOUVER, BC / ACCESSWIRE / May 7, 2020 / Sky Gold Corp. (TSX-V:SKYG)(OTC PINK:SRKZF) (\"Sky Gold Corp.\" or the \"Company\") is pleased to announce the expansion of the \"Mustang Property\", in Central Newfoundland, contiguous to the north-eastern portion of the Queensway Gold Project, owned by New Found Gold Corp. (\"New Found Gold\"). The \"Mustang Expansion\" Property comprises 57 claims over 1,425 ha and connect the eastern and western Mustang block, which hosts known mineral occurrences.The newly acquired claims represent more than a 300% increase in land holdings for a total of 1,875 ha for the property (see Figure 1). The Mustang Expansion extends across the Gander Lake outflow to the eastern shore contiguous to New Found Gold's Queensway Project and covers a portion of their interpreted Appleton Fault Zone.Figure 1. - Location map of Sky Gold Corp.'s Newfoundland Projects As previously reported (see press release dated January 31, 2020) Sky Gold had acquired the Mustang property, comprising two non-contiguous blocks of claims. The eastern claim block hosting the Outflow prospect, comprising the Mustang and Piper mineralized zones. The eastern claim block is contiguous to New Found Gold's Queensway gold project to the south. The western claim block is located approximately 2.2 kilometres west-northwest of the eastern claims. With the Mustang Expansion, the two blocks are now part of the larger property. The northern part of the current Mustang Property is only 2.5 kilometers south of the village of Glenwood, with abandoned logging road accessing the area. Glenwood is located on the Trans-Canada Highway 25 kilometres west of an international airport in Gander.Gold mineralization was discovered at the Outflow prospect in 1987 by Noranda Exploration Company Ltd., which completed geologic mapping, trenching and shallow (average 84 metres) diamond drilling (12 holes totaling 1,007.6 metres). In late 2001, Altius Minerals Corp. held the current claim area, with the Mustang zone anchoring a major northeast-southwest structural feature of prospective geology covered by a large property project known as the Mustang trend. Altius optioned the property to Barrick Gold Corp., which undertook reconnaissance exploration in 2...

More updates from Sky Gold Corp.