Sky Gold Set to Commence Spring Exploration Program on Orogenic Gold and Magmatic Nickel Sulphide Targets on Its Consolidated Shebandowan Property, Northwestern Ontario - Seite 2

The soil and multi-element anomalies coincide in large part, with the Tinto Lake fault, a major ENE trending crustal-scale fault and with outcrops characterized by strong hydrothermal alteration.

Additional soil and glacial till geochemistry sampling are clearly warranted on the Mingold Au soil anomaly to provide detail on its size, strength and extent.

Ni-Cu-Co-Cr-PGE Anomaly:

An extensive 5 km by 7 km area characterized by highly anomalous values in nickel, copper, cobalt, chrome, platinum and palladium in glacial till sampling, comprises a high-priority target prospective for nickel sulphide deposits. All of the contour plots for the anomaly depicting Ni, Cu, Co, Cr as well as Pt and Pd are coincident and are intimately associated with a large magnetic high as well as several strong electromagnetic conductors, yielded by the VTEM airborne survey, flown in the fall of 2023.

The large anomaly appears to be bounded by the ENE-trending Tinto Lake fault and an unnamed parallel fault situated to the NW of it, suggesting that the anomaly as a whole is related to deep, crustal-scale faulting. The Shebandowan mine is hosted within ultramafic rocks (komatiites) proximal and within the crustal-scale Crayfish Creek fault. The Ni-Cu-Co-Cr-PGE anomaly is underlain by mafic and ultramafic rocks, similar to the host rocks containing mineralization at the Shebandowan mine.

The strong extensive Ni-Cu-Co-Cr-PGE geochemical anomaly is associated with mafic-ultramafic rocks, as well as a large magnetic feature (magnetic high) and strong EM conductors yielded by the VTEM survey. Collectively, this strongly suggests a local bedrock source for the subject geochemical anomaly.

Exploration Model:

The recent Eureka gold discovery made by Delta Resources Ltd in 2023, is located within the Shebandowan greenstone belt, approximately 30 km ENE from the Consolidated Shebandowan property. Gold mineralization at the Eureka discovery is intimately associated with deep crustal-scale faults (Shebandowan Structural Zone), in part reflected by the presence of subjacent younger Timiskaming-type, pull-apart sedimentary basins. The past producing Shebandowan NI-Cu-Co-Cr-PGE mine is situated in a similar structural-lithological setting along the Crayfish Creek fault, associated with an adjacent younger sedimentary basin.

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Morgan Stanley

 

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