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Sky Gold Secures Strategic Land Package on Strike With New Found Gold's Newfoundland Queensway Project
VANCOUVER, BC / ACCESSWIRE / January 31, 2020 / Sky Gold Corp. (TSX-V: SKYG) (US:SRKZF) ("Sky...
About this update from Sky Gold Corp.
[{"type":"text","content":"Sky Gold Secures Strategic Land Package on Strike With New Found Gold’s Newfoundland Queensway ProjectVANCOUVER, BC / ACCESSWIRE / January 31, 2020 / Sky Gold Corp. (TSX-V: SKYG) (US:SRKZF) (\"Sky Gold Corp.\" or the \"Company\") is pleased to announce the acquisition of the \"Mustang Property\", comprising two non-contiguous blocks of claims, in Central Newfoundland. The eastern claim block hosts the \"Outflow Prospect\", comprised of the Mustang and Piper mineralized zones, located adjacent to New Found Gold Corp. (\"New Found Gold\") who recently announced New Found Gold drill hole (\"NFGC-19-01\") on their Queensway Gold Project which intersected 92.86 g/t Au over 19.0 meters (see Mexican Gold Corp., Press Release dated January 26, 2020)*.The eastern claim block is contiguous to New Found Gold's Queensway Gold Project and approximately 5 km from New Found Gold's discovery hole. The claims comprise approximately 420 ha on the western shore of Gander Lake. The western claim block comprises approximately 150 hectares and is located approximately 2.2 kilometers west-northwest of the eastern claims. The claim blocks are located approximately 6.5 km south-southeast of the village of Glenwood, with abandoned logging road accessing the area. Glenwood is located on the Trans-Canada Highway 25 kilometers west of an international airport in Gander.Gold mineralization was discovered at the Outflow Prospect in 1987 by Noranda Exploration Company Limited, whom 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.\" Altius optioned the property to Barrick Gold Corporation who undertook reconnaissance exploration in 2002 which resulted in the discovery of several new gold showings, including the Road Breccia, Barite, Jasperoid, and Gervase's Lane showings. Exploration on the property was curtailed in late July 2003, when Barrick terminated their option.Highest gold values, up to 28 grams per tonne gold (g/t Au) over 0.8 metres, occur in dark gray hydrobreccia units, associated with higher arsenopyrite concentrations. Selected diamond-drill assay results from Nor...