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Sky Gold Receives Drill Permits And Prepares For Drilling On Mustang And Virginia Properties Contiguous To New Found Gold's Queensway Gold Project
VANCOUVER, BC / ACCESSWIRE / November 5, 2020 / Sky Gold Corp. (TSX-V:SKYG)(OTC PINK:SRKZF) (...
About this update from Sky Gold Corp.
[{"type":"text","content":"Sky Gold Receives Drill Permits And Prepares For Drilling On Mustang And Virginia Properties Contiguous To New Found Gold’s Queensway Gold ProjectVANCOUVER, BC / ACCESSWIRE / November 5, 2020 / Sky Gold Corp. (TSX-V:SKYG)(OTC PINK:SRKZF) (\"Sky Gold Corp.\" or the \"Company\") is pleased to announce all permits have now been received to allow the Company to commence drilling on the \"Mustang Property\" and the \"Virginia Property\", both contiguous to the Queensway Gold Project, owned by New Found Gold Corp. (\"New Found Gold\"). Drilling is expected to commence within the coming two weeks.Activities to date and ongoing include:The confirmation and rehabilitation of historic trenches on the Mustang zone, where sampling by Noranda Exploration Ltd. (1987-1989) returned up to 28 grams per tonne gold (g/t Au) over 0.8 meters, 10.2 g/t Au over 0.75 meters, and 5.2 g/t Au over 1.0 m (Assessment NFGC 002D_0189). To date, prospecting, geological mapping and selective surface sampling has been completed by the Company.Prospecting, geological mapping and a detailed soil geochemistry survey have been completed over the area northeast of the Road, Jasperoid, and Barite showings on the western portion of the Mustang property. This area is marked by an interpreted flexure, from north-east to east-west, in the geological units and the Dog Bay Line (DBL) structure. The DBL is a major interpreted suture formed at the closing of the Iapetus Ocean and can be found on both sides of the Atlantic Ocean with several major gold deposits associated with it, including the Curraginalt Deposit (Ireland), Valentine Lake Deposit (Newfoundland), and the Haile Deposit (North Carolina).Preparation is progressing well for the Company's maiden diamond drill program of 3,000 meters on the Mustang and Virginia properties. The final permits allowing for timber cutting have been received on both properties and the excavator is mobilizing for drill pad preparation later this week. The drill contractor, Cabo Drilling (Pacific) Corp., based in Springdale, Newfoundland, will be mobilizing equipment to the site next week with plans for drilling to commence about mid-November.Drilling to date has tested a limited vertical component zone of the strong epithermal system on the Mustang zone. The silicified zones extend for at least 3 kilometres to the northeast of the ...