SKY Metals Limited (ASX: SKY) is planning to test gold targets at its Kangiara and Caledonian Projects in New South Wales in the first half of 2020.
SKY CEO Mark Arundell said the company is enacting a disciplined exploration programme to follow up the high grade gold mineralisation encountered at the Hume Prospect at the Cullarin Project where Sky is earning an 80% interest.
“A programme of diamond core drilling is currently in progress and this is being augmented with historic diamond core sampling, soil sampling and geological mapping.
“The gold mineralisation identified in the re-assay of historic drill core validates SKY’s strategy of sampling these historic drillholes, defining new zones and extending existing zones of gold mineralisation at the Hume Target.”
Hume Drillhole HUD003 was targeted to test the up dip extent of the mineralisation intersected in previous drillhole HUD002 Originally planned for 300m depth, the hole was completed at 510.4m still within highly altered volcanics with sulphide mineralisation. HUD003 intersected an intensely altered volcanic package (silica-sericite-sulphide) from 24m to the end of hole. Sulphides – primarily pyrite, sphalerite (zinc) and galena (lead) – are present throughout the drillhole as disseminations, veins and veinlets.
Significant gold mineralisation was noted to occur with this style of sulphide mineralisation in HUD002 thus the presence of this style of sulphide in HUD003 is considered promising.
Drillhole HUD004, located approximately 90m north of HUD002, was targeted as the first hole to test the northern strike of the mineralisation intersected in drillhole HUD002.
As in HUD003, drillhole HUD004 intersected an intensely altered volcanic package (silica-sericite-sulphide) from 26m to the end of hole. Sulphides – primarily pyrite, sphalerite (zinc) and galena (lead) – are present throughout the drillhole as disseminations, veins and veinlets. HUD004 has recently been completed at 379m.
Mr Arundell said SKY will now look to test further north with drilling and continue to maintain a drilling presence at the Cullarin project for the foreseeable future and are planning to increase to a multi drill rig program depending on assay results from the sampling of the historical drilling and current drilling campaign.
As part of the follow up to the outstanding shallow gold mineralisation intersected in drillhole HUD002, SKY identified a number of historic diamond drillholes from the Hume Target at the NSW Government drillcore library.A series of drillholes (drilled between 1981 and 1987) were identified as a priority for sampling primarily to evaluate the postulated trend of the HUD002 mineralisation.
Sampling by SKY has extended a historic intersection at approximately 150m depth in historic hole WL0165. An intersection of 17m @ 1.69g/t Au from 151m within a zone of 47.5m @ 0.84g/t Au from 139.5m is now reported.
SKY believes the intersection in WL015 appears to be correlated with the zone of lower grade gold mineralisation in drillhole HUD002 (43m @ 1.30g/t Au from 106m.
Mr Arundell said early results from the sampling of historic drillcore have been very successful and validate SKY’s approach in evaluation of the Hume Target.