Sky Gold Commences Drill Program on Priority Targets on the Evening Star Property, Nevada

Rhea-AI Summary

Sky Gold Corp. has begun a diamond drill program at its Evening Star Property in Mineral County, Nevada, following approval from the Bureau of Land Management. The drill program targets gold and CRD mineralization and aims for 2,500 meters across 12-15 holes. Eight drill sites have been selected, with initial focus on the Gold Bug area due to strong geophysical anomalies. The company is also active in other properties in Canada and the USA, including the Mustang and Virginia properties in Newfoundland.

Positive

• Commencement of diamond drilling program at Evening Star Property.
• Targets include gold and carbonate replacement deposits.
• Approval received from Bureau of Land Management.
• Strong geophysical anomalies identified at Gold Bug target.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / July 20, 2021 / Sky Gold Corp. (TSXVSKYG)(OTC PINK:SRKZF) ("Sky Gold Corp." or the "Company") is pleased to report the commencement of a diamond drill program on its Evening Star Property, located in Mineral County, Nevada. The Evening Star property is prospective for gold mineralization and CRD (Carbonate Replacement Deposit) base and precious (silver and gold) mineralization, and is located 12 kilometers southeast of the town of Hawthorne. The property is north of, and contiguous to the Pamlico property, owned by Newrange Gold Corp.

Altar Drilling Inc. of Tucson, Ariz., mobilized to the Evening Star property last week, with diamond drilling initiated on the weekend. The Company has received approval from the Bureau of Land Management for its near-term proposed exploration and drill plan under a notice of intent, which is limited to five acres of surface disturbance. EM Strategies, based in Reno, Nev., assisted with the application.

Eight drill site areas have been selected on the Gold Bug, Golden Eagle-Golden Bomber and Good Hope 2 targets. The strong coincident geophysical (gravity and magnetic surveys) anomalies (refer to press release March 17, 2021) interpreted to be related to the silver-rich base-metal skarn and/or carbonate replacement deposit mineralization at the Gold Bug target area will be the initial priority target. This phase of diamond drilling will comprise about 2,500 meters of drilling in 12-15 holes.

Qualified Person

Sky Gold's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Garry Clark, P.Geo., who serves as a qualified person under the definition of National Instrument 43-101.

About Sky Gold Corp.

Sky Gold Corp. is a junior mineral exploration company engaged in acquiring and advancing mineral properties in Canada and the USA. The Company is active in Newfoundland on the Mustang and Virginia properties, which are located contiguous to New Found Gold Corp's Queensway project, where high-grade gold mineralization has been discovered, with the district being actively explored by numerous companies. The Company also owns the Evening Star property, located 12 km southeast of Hawthorne, NV, which is prospective for gold mineralization and CRD (Carbonate Replacement Deposit) base and precious (silver and gold) mineralization. The Company also owns the Imperial Project comprising two contiguous claim blocks (6,576 hectares) prospective for gold and VMS (volcanogenic massive sulphide) mineralization and covers 4.7 kilometres of the northern border with Amex Exploration's Perron property in Quebec, where high-grade gold has been intersected in three zones along a 3.2 km corridor.

ON BEHALF OF THE BOARD

"Mike England"
Mike England, CEO & Director

FOR FURTHER INFORMATION PLEASE CONTACT:

Tel. 1-604-683-3995
Toll Free. 1-888-845-4770

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).

SOURCE: Sky Gold Corp.

View source version on accesswire.com:
https://www.accesswire.com/656297/Sky-Gold-Commences-Drill-Program-on-Priority-Targets-on-the-Evening-Star-Property-Nevada

FAQ

What is the significance of Sky Gold's drilling program at Evening Star Property?

The drilling program aims to explore gold and CRD mineralization, potentially enhancing the resource profile of the property.

How many meters of drilling is planned for the Evening Star Property?

Approximately 2,500 meters of drilling is planned in 12-15 holes.

When did Sky Gold Corp. start its drilling program at Evening Star?

The drilling program commenced on the weekend following July 20, 2021.

What geophysical anomalies are targeted in the drilling program?

The initial focus is on the Gold Bug area, which shows strong geophysical anomalies related to mineralization.

What other properties does Sky Gold Corp. operate?

The company is also active on Mustang and Virginia properties in Newfoundland and the Imperial Project in Quebec.