Spanish Mountain Main Zone
Continues to Expand
Drilling intersects 99.50 metres of
1.41 g/t gold
Skygold Ventures
Ltd. ("Skygold") (SKV-TSXV) and Wildrose Resources Ltd. ("Wildrose")
(WRS- TSXV)
are pleased to announce Diamond Drill results from the on-going exploration
program at the Spanish Mountain Project in Central British Columbia.
Diamond Drilling on the
Spanish Mountain Property continues to intersect the Main Zone and expand on
the potential area for which a 43-101 resource will be completed. At
present, the known zones (Main Zone, South Main, Lower Zone and North Zone)
span an area approximately 1.2km by 1.2km. Potentially economic grade gold
mineralization has been intersected in all of these zones. Holes have
been drilled outside these known zones in the Placer Area, Oscar Showing and
East Main Zone. Results contained in this news release include holes from
the Main Zone, South Main, Placer Area, Oscar showing and eastern Main Zone
step outs.
Highlights:
Main Zone:
- Hole 07-DDH-661 intersects 99.5
metres of 1.41 g/t gold including 56.0 metres of 1.57 g/t gold including
25.5 metres of 2.21 g/t gold (see section 1550 N at the company's
website).
- Hole 07-DDH-643 intersects 15.0
metres of 1.74 g/t gold within a wider interval of 67.0 metres of
0.70 g/t gold.
- Hole 07-DDH-647 intersects 22.5
metres of 1.13 g/t gold
- Hole 07-DDH-604* (Twin of
the upper zone in hole 05-DDH-252 which returned 47.75 metres of
1.67 g.t gold including 15.25 metres of 2.04 g/t gold) intersected 60.1
metres of 1.62 g/t gold including 36.0 metres of 2.42 g.t gold.
South
Main:
- Hole 07-DDH-600 intersects
5 separate zones of gold mineralization within a wider zone of 184.5
metres of 0.50 g/t gold including 18.5 metres of 1.08 g/t gold
and 15 metres of 1.19 g/t gold. This intercept joins the upper and
lower horizons into one continuous zone (see section D - D' at the
company's website).
* Hole 07-DDH-604 was drilled as a quality control hole to duplicate
mineralization intersected in hole 05-DDH-252.
Regional drilling in the Oscar area has intersected only weakly anomalous
results to date. Hole 07-DDH-617 is still pending results for this
area. Drilling in the Placer area has also intersected weakly anomalous
values, to date and there are 13 holes with results pending in this area.
The east Main Zone area has intersected 14.0 metres of 0.92 g/t gold in hole
07-DDH-602 but there are still 6 holes in this area with assay results
pending.
Discussion of Results:
Main Zone mineralization continues to expand and is associated with a very
specific stratigraphic package of rocks which has been intersected along strike
for approximately 900 metres (see stratigraphic column "A" at the
company's website). To date, none of the regional drilling has
intersected the same stratigraphic sequence and the current understanding
is that faulting and folding may be responsible for off-setting the Main Zone
stratigraphy in the Placer and Oscar areas. Current interpretations
indicate that the Main Zone is open to the northwest and south east but may be
limited or offset to the northeast and southwest. The discovery of the
North and South Main Zone mineralization outside the Main Zone indicates that
favorable gold mineralized stratigraphic/structural horizons exists elsewhere
along the overall mineralized belt. This highlights the potential for the
discovery of additional deposits.
Drilling has already confirmed the presence of Main Zone stratigraphy to the
northwest, in holes 07-DDH-685,687, 688, 689 and 695 which all intersected the
Main Zone stratigraphic sequence (assays pending).
Vice President of Exploration Scott Weekes comments "We are very pleased
with results and interpretations coming from the field. Being able to now
recognize the stratigraphic sequence has helped refine drill targets in the
Main Zone. There are still many holes remaining in the lab but results
are starting to come back faster and we are getting closer to completing a
43-101 compliant resource on the Main Zone area. Holes such as 07-DDH-600
help to join the Lower and Upper Main zones together, and this will help us to
develop a more robust resource estimate."
Table of all results:
Area
|
Hole Number
|
|
From
|
To
|
Width (m)
|
Au (g/t)
|
Main Zone
|
07-DDH-661
|
|
43.50
|
143.00
|
99.50
|
1.41
|
Main Zone
|
07-DDH-661
|
Incl.
|
45.00
|
70.50
|
25.50
|
1.96
|
Main Zone
|
07-DDH-661
|
Incl.
|
87.00
|
143.00
|
56.00
|
1.57
|
Main Zone
|
07-DDH-661
|
Incl.
|
91.50
|
117.00
|
25.50
|
2.21
|
|
|
|
|
|
|
|
South Main
|
07-DDH-600
|
|
20.00
|
32.50
|
12.50
|
0.53
|
South Main
|
07-DDH-600
|
|
52.50
|
237.00
|
184.50
|
0.50
|
South Main
|
07-DDH-600
|
Incl.
|
52.50
|
57.00
|
4.50
|
1.82
|
South Main
|
07-DDH-600
|
|
111.50
|
149.00
|
37.50
|
0.70
|
South Main
|
07-DDH-600
|
Incl.
|
116.00
|
134.50
|
18.50
|
1.08
|
South Main
|
07-DDH-600
|
|
159.50
|
189.00
|
29.50
|
0.55
|
South Main
|
07-DDH-600
|
|
222.00
|
237.00
|
15.00
|
1.19
|
South Main
|
07-DDH-646
|
|
116.95
|
128.50
|
11.55
|
0.77
|
|
|
|
|
|
|
|
South Main
|
07-DDH-648
|
|
45.00
|
61.50
|
16.50
|
0.81
|
South Main
|
07-DDH-648
|
Incl.
|
45.00
|
52.50
|
7.50
|
1.04
|
|
|
|
|
|
|
|
Eastern Fence
|
07-DDH-602
|
|
199.00
|
213.00
|
14.00
|
0.92
|
NE of Main Zone
|
07-DDH-603
|
|
Abandoned
|
|
|
|
Eastern Fence
|
07-DDH-607
|
|
Failed to reach depth
|
|
|
|
Eastern Fence
|
07-DDH-608
|
|
no sig values
|
|
|
|
|
|
|
|
|
|
|
Oscar
|
07-DDH-605,616
|
|
weakly anomalous
|
|
|
|
|
|
|
|
|
|
|
Placer
|
07-DDH-606
|
|
weakly anomalous
|
|
|
|
Placer
|
07-DDH-601
|
|
no sig values
|
|
|
|
Placer
|
07-DDH-609
|
|
no sig values
|
|
|
|
Placer
|
07-DDH-610
|
|
Failed to reach depth, weakly anomalous
|
|
|
|
Placer
|
07-DDH-615
|
|
Failed to reach depth, weakly anomalous
|
|
|
|
Placer
|
07-DDH-636
|
|
Failed to reach depth
|
|
|
|
|
|
|
|
|
|
|
Twin of DDH-252
|
07-DDH-604
|
|
14.00
|
31.00
|
17.00
|
0.57
|
Twin of DDH-252
|
07-DDH-604
|
|
47.50
|
58.00
|
10.50
|
0.69
|
Twin of DDH-252
|
07-DDH-604
|
|
67.00
|
127.10
|
60.10
|
1.62
|
Twin of DDH-252
|
07-DDH-604
|
Incl.
|
85.00
|
121.00
|
36.00
|
2.42
|
|
|
|
|
|
|
|
Main Zone
|
07-DDH-643
|
|
29.00
|
42.00
|
13.00
|
0.62
|
Main Zone
|
07-DDH-643
|
incl.
|
36.00
|
42.00
|
6.00
|
1.03
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Main Zone
|
07-DDH-643
|
|
186.50
|
253.50
|
67.00
|
0.70
|
Main Zone
|
07-DDH-643
|
Incl.
|
195.50
|
210.50
|
15.00
|
1.74
|
|
|
|
|
|
|
|
Main Zone
|
07-DDH-643
|
a
|
231.50
|
253.50
|
22.00
|
0.78
|
Main Zone
|
07-DDH-643
|
Incl.
|
231.50
|
239.00
|
7.50
|
1.41
|
|
|
|
|
|
|
|
Main Zone
|
07-DDH-645
|
|
138.00
|
145.50
|
7.50
|
0.93
|
Main Zone
|
07-DDH-645
|
|
219.00
|
234.00
|
15.00
|
0.54
|
Main Zone
|
07-DDH-645
|
|
268.00
|
274.00
|
6.00
|
0.71
|
|
|
|
|
|
|
|
Main Zone
|
07-DDH-647
|
|
123.00
|
145.50
|
22.50
|
1.13
|
Eco Tech Laboratories
Ltd. of Kamloops BC, a BC accredited laboratory, is conducting the sample
preparation and analyses of samples. Skygold/Wildrose are submitting standards,
blanks and duplicates into the sample stream to maintain quality control.
All gold analyses will utilize standard screen metallic assay techniques.
Robert Darney, P.Geo. and J.W. (Bill) Morton, P. Geo. are the qualified persons
(as defined in NI 43-101) who have reviewed this news release.
On Behalf of the Board,
SKYGOLD VENTURES LTD
Brian Groves
Brian Groves.
President
Contact:
Tim
Mikula
www.skygold.ca
(604) 484-6317 or
B&D Capital Partners
(604) 685-6465
The TSX Venture
Exchange has not reviewed and does not accept responsibility for the adequacy
or accuracy of this release. This news release may contain certain
"Forward-Looking Statements" within the meaning of Section 21E of the
United States Securities Exchange Act of 1934, as amended. All statements,
other than statements of historical fact, included herein are forward-looking
statements that involve various risks and uncertainties. Actual results and
future events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to differ
materially from the Company's expectations are disclosed in the Company's
documents filed from time to time with the TSX Venture Exchange, the British
Columbia Securities Commission and the US Securities and Exchange Commission.