Golden Sky Minerals (TSXV: AUEN) reports assays of six reverse circulation (RC) holes at its 100%-owned Hotspot property. A total of 568.45 metres were drilled at the Sure Bet zone, and all holes returned near surface gold-bearing intervals.
The longest hole, HSRC-20-02, returned 71.63 metres of 1.34 grams gold per tonne beginning at 32 metres. It included intersections of 7.72 grams over 6.09 metres and 20.90 grams over 1.52 metres. Assays from high grade overburden were excluded from the report.
The high grade overburden in hole 20-02 assayed 17.82 grams gold over 3.05 metres from 1.52-4.57 metres. It was a mix of strong auriferous overburden and bedrock. Golden Sky said the source of this overburden has not been determined, but deserves follow-up exploration.
The remaining five holes returned intersections from 0.16-1.03 grams gold at depths from 3.5-73.15 metres.
Golden Sky president and CEO said in a release, "This is a grassroots discovery in an unexplored part of the Yukon. To say the results from this inaugural drill program are exciting is an understatement. We may have a deposit type not yet seen in the Yukon on our hands."
The company's stock rose about 3 cents to $0.445 yesterday on the news.
The Hotspot property is located 100 km southwest of Dawson City on the Yukon side of the border with Alaska. It lies in the North Ladue placer district that has produced more than 20,000 oz. of gold. The claims lie along the Big Creek fault, a regional system that hosts both porphyry and orogenic gold deposits within the Yukon-Tana Terrane, says the company.
Golden Sky further said it has discovered another mineralized zone 1 km to the west of Sure Bet. That zone displays a similar pathfinder signature to the Sure Bet zone.
Discussions are underway to mount a diamond drilling campaign at the Sure Bet zone in 2021.