Resumes Diamond Drilling Programme In Newfoundland
Sky Gold Corp. (TSX-V:SKYG)has resumed its diamond drill programme has resumed on the company’s Mustang Property in Newfoundland. Previously seven holes were completed on the Mustang Property, comprising 1,321m, with assays pending.
The company previously reported in late December that hole MT-20-06 contained fine grained visible gold at ~260m down the hole. This interval and other selected intervals (quartz veining, brecciation and silicification, and quartz stockwork, with associated sulphides (pyrite, arsenopyrite, sphalerite)) from Hole MT-20-06 and MT-20-07 have been split and sampled and have been “rushed” for gold assaying. Logging, core cutting and sampling is ongoing from a facility established in Gander.
Drilling on the Mustang property has been contracted to Cabo Drilling (Pacific) Corp. with a minimum 3,000m diamond drill programme over multiple target locations situated within the highly prospective Gander gold district.
President and CEO, Mike England, said drilling in the first quarter 2021 will also investigate the Barite, Jasperoid and Road Breccia showings on the western portion of the Mustang property, which have never been drilled. Recently completed trenching and soil geochemistry results are also pending.
“The company is excited to resume drilling activities on the Mustang property,” Mr England said.
“We welcome the surface rock and soil geochemistry results shortly and ‘rushed’ assay results from sections of hole MT-20-06 and 07.”
The recently expanded Mustang property comprises 1,625 hectares and is contiguous to New Found Gold’s Queensway project and approximately five km southwest of their discovery hole. The Mustang property hosts numerous gold prospects including the Mustang and Piper zones, on trend with New Found Gold Corp’s current drill programme, and the Road Breccia, Jasperoid, and Barite showings on the western portion of the property.
Gold mineralisation was discovered at the Mustang zone in 1987 by Noranda Exploration Company Ltd., who completed geologic mapping, trenching and shallow (average 84m) diamond drilling (12 holes totalling 1,007.6m).
Highest surface gold values from the Mustang zone include up to 28 g/t Au over 0.8m.