|
Skygold Drilling Intersects 47.5 Metres of 2.04 g/t
Gold 275
Metres West of the
Main Zone Resource
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. Wide zones of gold mineralization
continue to be intersected outside the limits of the initial resource
calculation indicating the potential to significantly expand on this
resource.
Highlights:
- Hole 08-DDH-722
intersected 47.5 metres of 2.04 g/t gold including 25.0
metres of 3.19 g/t gold and 16.0 metres of 1.51 g/t gold in two
separate zones 275 metres west of the resource area.
- Hole 08-DDH-706
intersected 25.0 metres of 1.16 g/t gold 150 metres
west of the resource area.
- Hole 08-DDH-714
intersected 1.0 metre of 37.6 g/t gold and 10.5 metres
of 1.13 g/t gold 350 metres west of the resource area.
Discussion of Results:
Drilling at Spanish Mountain continues to expand upon the area of known
mineralization previously included in the Company's NI43-101 compliant
preliminary resource estimate which was reported on April 3, 2008. To
date, 97 holes totaling 26,313.6 metres have been drilled to confirm the
expansion of the Main Zone. Final assay results for these holes are
anticipated by July of 2008 at which time Skygold will begin updating the
resource calculation. Hole 08-DDH-722 returned one of the widest
intercepts of gold grading in excess of 2 g/t from the Main Zone. This
hole lies approximately 275 metres west of the current resource area and
remains open for follow-up drilling. High grade mineralization
was intersected in hole 08-DDH-714, 350 metres west of the resource area.
This mineralization which averaged 37.60 g/t gold over 1.0 metre is similar
in character to other high grade intercepts in this area and remains open in
all directions.
Mr. Brian Groves, President and CEO of Skygold Ventures stated "We
are very pleased with on-going work at Spanish Mountain - our flagship
property in the historic Cariboo gold camp. With our current resource,
we believe that the Spanish Mountain Property now hosts one of the largest
gold deposits ever discovered in the region. Holes such as 08-DDH-722
clearly indicate that there is excellent potential to significantly expand
upon the current compliant resource. We have drilled an area of the Main Zone
that is now approximately twice the area of the initial resource estimate and
many holes have assays pending. The Main Zone still remains open in several
directions beyond the expanded area of drilling. Combined with this
potential, we have already reported very positive metallurgical results. The
Company also plans to drill several areas of the property which lie up to 3
kilometres away from the Main Zone and over which previous work has shown
strong gold anomalies with similar characteristics to the Main
Zone."
The following table summarizes drilling results to date:
|
Hole
|
|
From
|
To
|
Width
(m)*
|
Gold
(g/t)
|
|
|
08-DDH-722
|
|
98.50
|
114.50
|
16.00
|
1.51
|
275m west of resource
|
|
08-DDH-722
|
and
|
154.50
|
202.00
|
47.50
|
2.04
|
|
|
08-DDH-722
|
incl.
|
156.00
|
181.00
|
25.00
|
3.19
|
|
|
08-DDH-722
|
and
|
241.00
|
247.25
|
6.25
|
1.75
|
|
|
08-DDH-697
|
|
149.00
|
168.50
|
24.00
|
1.04
|
150m west of resource
|
|
08-DDH-698
|
|
106.50
|
118.00
|
11.50
|
1.09
|
230m west of resource
|
|
08-DDH-701
|
|
227.50
|
233.50
|
6.00
|
0.56
|
230m west of resource
|
|
08-DDH-705
|
|
124.00
|
140.00
|
16.00
|
1.80
|
320m west of resource
|
|
08-DDH-706
|
|
85.34
|
96.00
|
10.66
|
0.55
|
150m west of resource
|
|
08-DDH-706
|
and
|
264.00
|
295.00
|
25.00
|
1.16
|
|
|
08-DDH-707
|
|
67.50
|
78.00
|
10.50
|
2.81
|
230m west of resource
|
|
08-DDH-707
|
and
|
150.00
|
159.00
|
12.00
|
0.92
|
|
|
08-DDH-711
|
|
22.00
|
47.00
|
25.00
|
0.57
|
500m west of resource
|
|
08-DDH-711
|
and
|
174.00
|
181.50
|
7.50
|
1.11
|
|
|
08-DDH-714
|
|
240.00
|
252.00
|
10.50
|
1.13
|
350m west of resource
|
|
08-DDH-714
|
and
|
358.00
|
359.00
|
1.00
|
37.60
|
|
|
|
|
|
|
|
|
|
|
Holes
618,626,635,637,708,712,717,718,719,720 and 721 are pending
|
|
|
Hole 703 returned no significant values
|
|
|
Holes 700,704,709,713,715 and 716
contained anomalous gold values
|
|
* - indicates core length
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.
Main Zone Plan Map - May 21, 2008
Skygold
Ventures
Suite 615 - 800 West
Pender St.
Vancouver , B.C. V6C
2V6
tel. (604)484.6317
Fax (604) 684-0279
www.skygold.ca
For more
information contact B&D Capital Partners 604.685.6465
|