- Golden Sky (AUEN) has drilled 42.4 g/t gold over 1.05 m at its Hotspot Property in the Yukon
- The drill hole containing the high-grade intersection also yielded 0.85 g/t gold over 102 m, including 2.97 g/t gold over 24.1 m
- The company plans to return to the property in the spring of 2022
- Golden Sky Minerals is a well-funded junior grassroots explorer engaged in the acquisition, assessment, exploration and development of mineral properties
- Golden Sky (AUEN) is up by 9.26 per cent and is currently trading at $0.59 per share
Golden Sky (AUEN) has drilled 42.4 g/t gold over 1.05 m at its Hotspot Property in the Yukon.
The result stems from the first assay from its four-hole, 1,317.5 m maiden diamond drilling program at the Sure Bet Zone. Results are pending for the three remaining drill holes.
Drill hole HS-21-02 intersected 0.85 g/t gold over 102 m, including 2.97 g/t gold over 24.1 m, in turn including a high-grade 1.05 m grading 42.4 g/t gold.
The hole was drilled to test the western extent of a gold-in-soil anomaly located within the Sure Bet Zone, with values ranging from 50 ppb gold to 4,110 ppb gold.
The Sure Bet Zone outlines a significant geochemical anomaly marking the southwest end of a 1.6 km gold-in-soil trend that extends to the northeast where it remains open.
The highly positive results from HS-21-02 represent a structural zone, comprising faulting and brecciation, hosting polyphase clay, silica, chlorite and locally potassic hydrothermal alteration and gold mineralization.
The polyphase nature of quartz stockwork veining, silica flooding and quartz vein breccias suggests that several phases of auriferous fluid movement occurred within this structural corridor.
Assay results from the 2021 Hotspot diamond drill program
Cameron Dorsey, Golden Sky’s VP Exploration, stated,
“These results are truly exciting, as they demonstrate that a near-surface, auriferous system exists on the Hotspot Property. Significant gold mineralization has now been confirmed to be associated with zones of faulting, brecciation, quartz veining and hydrothermal alteration. The polyphase nature of mineralization and alteration suggests that the Sure Bet Zone is the result of a long-lived, gold-enriched system that developed within a structurally complex corridor.”
John Newell, Golden Sky’s President and CEO, added,
“The whole team at Golden Sky Minerals are thrilled to hit high-grade, near surface intercepts on our first diamond drill program at our Hotspot Property. Our early success at Hotspot, especially given the difficult nature of the program this past summer with drought conditions and COVID restrictions, along with the recently approved ten-year mining permit from the Yukon’s Mines Ministry, gives our team a great deal of confidence to advance this project. We are excited to get back to the Hotspot Property as soon as possible in the spring of 2022.”
Golden Sky (AUEN) is up by 9.26 per cent and is currently trading at $0.59 per share as of 10:45 am ET.