New NSW Drill Targets Defined
Sky Metals Limited (ASX:SKY) has delineated two parallel zones of gold mineralisation approximately 500m long and 50m wide through ongoing exploration activities at the Caledonian Gold Project near Yass in NSW.
A multi-element soil sampling survey over the historic Caledonian gold mine was recently completed by Sky. This was enacted to follow up work by previous explorers that had defined a coherent 600 x 100m @ +0.1ppm gold soil anomaly over the historic Caledonian mine.
Previous explorers had not detected the eastern zone of the two parallel ziones which contains exceptional gold results up to 65.3g/t Au. Historic drilling and costeaning (1985) on the western anomaly have confirmed shallow bedrock gold mineralisation with results including:
LM2: LM6: Costean A: 36m @ 1.2 g/t Au from 0m to EOH, and 10m @ 2.15g/t Au from 16m, and 81m @ 0.87g/t Au, including 39m @ 1.63g/t Au
CEO Mark Arundell said a drill programme to determine the depth extent and controls on the Caledonian gold mineralisation, testing both the western and eastern zones, is planned to commence in approximately two weeks.
“The soil sampling gold results from Caledonian have greatly exceeded our expectations,” Mr Arundell said.
“Not only has the historic gold anomaly been confirmed but SKY’s sampling has delineated a second zone of gold mineralisation of a much higher tenor than the original anomaly. We look forward to drill testing these high-quality targets in the coming weeks.”
The Caledonian Project contains the historic Caledonian Gold Mine. The distribution of multiple historic drill intersections at Caledonian Prospect indicate a potentially large and shallow mineralised gold system with discrete high-grade zones (e.g. 6m @ 8g/t Au recorded from the main lode. The deepest historical drillhole is 62m and most holes are ~25m deep with a number of drillholes ending in mineralisation. These drillholes were mostly located within a coherent 600 x 100m soil gold anomaly (+0.1ppm) defined by a joint venture between Central West Gold NL/Mineral Management & Securities Pty Ltd / Kennecott in 1985 (GSNSW Report GS1985/224 R0005615). Also, a number of costeans (13) were completed at the prospect by Central West Gold.
