Skyline Releases Exploration Results From Snip-Bronson Trend
12.10.2011 | Marketwire
VANCOUVER, 10/12/11 - Skyline Gold Corporation (TSX VENTURE: SK) ('Skyline' or the 'Company') is pleased to release the second set of exploration data from the 2011 field program. Presented here are exploration results from the Snip-Bronson Trend ('Snip-Bronson' or the 'Trend') as well as details concerning the drill targets selected for testing in 2011. The general location of the Snip-Bronson trend is shown in Figure 1 (http://www.skylinegold.com/i/pdf/20111004_Claims_Faults_Showings.pdf) and is available on the Company's website.Three high priority drill targets have been selected and drill testing has begun. The three targets include the newly discovered Fuchsite Zone, the Upper Johnny Creek East Anomaly and Big Slump Gully. Figure 2 (http://www.skylinegold.com/i/maps/skyline-iskut-bronson-area-NR3.gif) illustrates the relative proximity of these targets with respect to both the historic Snip Mine and the Bronson Slope gold-copper porphyry. Three-dimensional ('3D') rendered graphics that detail the Trend and the selected drill targets have been posted on the Company's website and are available through the Snip-Bronson 3D Views Link (http://www.skylinegold.com/s/3DViews.asp).
Fuchsite Zone - Drill Target
The Fuchsite Zone was discovered in 2011 and was initially sampled by a series of panel and chip samples; follow-up channel samples were also collected. The chip and panel samples have assayed up to 11.65 gold grams per tonne ('Au g/t') and the channel samples have analysed up to 2.0 metres of 6.03 Au g/t and 205.5 silver grams per tonne ('Ag g/t') (sample numbers M972310 to M972311).
Table 1: Results of Fuchsite Zone trench channel samples collected in 2011.
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Channel
Sample Sample From To Length Au Ag
Line-ID Number (m) (m) (m) (g/t) (g/t)
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TrFz1a M972307 0.00 0.90 0.90 1.63 146.0
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TrFz1b M972318 0.00 1.00 1.00 3.00 296.0
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TrFz1c M972301 0.00 1.00 1.00 1.32 78.7
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M972302 1.00 2.00 1.00 2.50 256.0
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TrFz1d M972319 0.00 1.00 1.00 1.91 95.4
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TrFz1e M972303 0.00 1.00 1.00 2.63 59.1
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M972304 1.00 2.00 1.00 5.91 147.0
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M972305 2.00 3.00 1.00 0.14 4.7
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TrFz1f M972320 0.00 1.00 1.00 4.87 126.0
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TrFz1g M972308 0.00 1.05 1.05 0.29 6.6
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M972309 1.05 2.05 1.00 0.95 45.7
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M972310 2.05 3.05 1.00 5.18 266.0
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M972311 3.05 4.05 1.00 6.87 145.0
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M972312 4.05 5.05 1.00 1.68 21.1
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TrFz1h M972306 0.00 0.90 0.90 7.58 136.0
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TrFz1i M972317 0.00 1.00 1.00 2.53 121.0
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TrFz1j M972313 0.00 1.10 1.10 8.53 56.3
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TrFz1k M972314 0.00 1.05 1.05 1.72 49.7
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M972315 1.05 2.05 1.00 0.36 4.4
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M972316 2.05 3.05 1.00 0.72 16.0
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Table 2: Results of Fuchsite Zone chip and panel samples collected in 2011.
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Sample Sample Width Depth Length Au Ag
Number Type (m) (m) (m) (g/t) (g/t)
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SP11-8-9-9 panel chip 0.50 0.10 0.40 3.15 62.8
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SP11-8-9-8 panel chip 0.20 0.10 0.20 1.32 36.3
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SP11-8-9-7 panel chip 0.15 0.10 0.20 1.62 6.7
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SP11-8-9-3 linear chip 0.04 0.04 1.00 3.67 123.0
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SP11-8-9-5 linear chip 0.05 0.01 1.00 9.98 70.7
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SP11-8-9-4 panel chip 0.15 0.10 0.20 11.65 199.0
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SP11-8-9-6 linear chip 0.05 0.05 1.00 5.73 153.0
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SP11-8-9-11 panel chip 0.10 0.05 0.20 1.50 16.3
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SP11-8-9-10 panel chip 0.05 0.10 0.15 4.22 70.1
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Drill testing the Fuchsite Zone is a high priority objective for 2011 with two holes proposed to test the down plunge potential. These two holes will also test a second zone of mineralization, CE-14, located 30 metres down slope. The deeper of the two Fuchsite Zone drill holes is scheduled to undergo a Borehole Pulse Electro-Magnetic ('BPEM') survey this fall. Background information on BPEM surveys is available on the Company's website and can be accessed through the BPEM (http://www.skylinegold.com/s/BPEMSurvey.asp) link.
The historic CE-14 showing was channel sampled by Skyline in 1990 and returned two significant intersections; the first, 2.2 metres in width, assayed 13.62 Au g/t and 222.5 Ag g/t (samples 6491 and 6492), and the second channel sample line (samples 6480 to 6484) assayed 5.0 metres of 4.69 Au g/t and 31.2 Ag g/t. (The assay values quoted for Trench CE-14 are historic and no quality control data is available; therefore, these values have not been verified.)
Photographs and trench maps for the Fuchsite Zone and the CE-14 showing, along with complete assay results for the CE-14 showing, are available on the Company's website through the Trench Maps (http://www.skylinegold.com/s/TrenchMaps.asp) link.
Upper Johnny Creek East Anomaly - Drill Target
The Upper Johnny Creek East Anomaly (the 'UJCE Anomaly') is up to 100 metres wide, extends for 1.3 kilometres, and has four coincident anomalies; a gold-in-soil anomaly coincident with several well defined airborne electro-magnetic ('EM') anomalies, a broad resistivity anomaly and, at the western end, a ground induced polarization ('IP') anomaly. The trend of the UJCE Anomaly is coincident with the structure that hosts the Snip Mine. Preliminary airborne geophysical maps, as well as the trace of the IP anomaly are available for viewing on the Company's website through the GeoPhys (http://www.skylinegold.com/s/GeophysicalMaps.asp) link. The final levelled airborne data are not expected from the contractor until late October.
Drill hole SK11-19 is underway, is scheduled to exceed 600 metres in length and will test the western end of the UJCE Anomaly. The hole has been positioned and oriented in a way to also test eastern strike extension of the Johnny Creek Showing drilled in 2009 and 2010. SK11-19 is scheduled to undergo a BPEM survey this fall.
Big Slump Gully - Drill Target
The third target selected for drill testing is the Big Slump Gully area. This area underwent extensive prospecting in 2011 and was discovered to have an 80 to 100 metre wide sericite alteration zone. A chip sample across a lens of massive pyrite mineralization has assayed 1.0 metres of 8.13 Au g/t and 182 Ag g/t. To date, 75 assay results have been received from the Big Slump Gully area, of those, a total of 8 have assayed above 2.0 Au g/t.
The primary objective of this drill hole is to carry out a BPEM geophysical survey. An ideal collar location has been selected and is currently being ground-truthed; if this location can be utilized without the need for explosives to construct the drill pad, it is anticipated to be drilled this year. If Skyline is unable to complete drill pad construction this year, the area will be drilled in the next drilling program scheduled for 2012.
Mr. John Zbeetnoff, CEO comments, 'I am very pleased with the progress made by Skyline's exploration team, they were successful in delivering high priority drill targets in the first season even after the Company refocused efforts to explore for high-grade gold mineralization.
Of key exploration interest to Mr. Jim Sparling, COO and I, is the rather atypical chemistry of the mineralization that accompanies the exceptionally high precious metal values. The massive pyrite mineralization with or without sphalerite, chalcopyrite and galena occur in the relative absence of other gangue minerals. This assemblage is uncommon in most exploration plays.
Although our future exploration efforts will continue to focus on the high-grade gold mineralization, we will expand our geological model to explore for the source of these intense sulphide concentrations. Skyline's Iskut terrain is a candidate to host Eskay Creek style deposits.'
Quality Assurance and Quality Control
Skyline utilizes standard industry practices in quality assurance and quality control ('QAQC') with insertion of blind standards, blanks and duplicates, in addition to the QAQC practiced by the assay laboratory. ALS Chemex Laboratories conducts sample preparation in Terrace, BC and analyses of pulps in North Vancouver, BC. The geologist and Qualified Person under the terms of National Instrument ('NI') 43-101 responsible for the verification of work and data acquisition at Skyline's Bronson Project is John Zbeetnoff, P. Geo.
The Qualified Person responsible for this news release under the terms of NI 43-101 is John Zbeetnoff, P.Geo.
On Behalf of the Board of Directors, Skyline Gold Corporation
John Zbeetnoff
Chief Executive Officer
Cautionary Statements: Statements in this release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual events to differ materially from those projected. There are no assurances the Company can fulfil such forward-looking statements and the Company undertakes no obligation to update statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the Company, some of which are beyond the Company's control.
Neither 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.
Contacts:
Skyline Gold Corporation
John Zbeetnoff, CEO
604-681-3989
Skyline Gold Corporation
Tony Perri, Investor Relations, Manager
604-681-3989
604-681-3557 (FAX)
info@skylinegold.com
www.skylinegold.com