Spanish Mountain Drilling
Results Continue to Confirm Continuity of Main Zone Gold Mineralization
Drilling intersects 71.93 metres of 1.20
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.
Results from drill holes
completed late in 2007 continue to indicate strong continuity to the gold
mineralization within the Main Zone at Spanish Mountain. Results have now
been received for all holes that will be included in the initial NI 43-101
compliant resource calculation due for completion in March.
Three drills are active on
the project with 29 holes (7684
metres) completed since drilling resumed in January. Drilling
is currently targeting an extension to Main Zone mineralization up to 500 metres away from the
area of the initial resource estimate.
Scott Weekes, VP
Exploration states: "With this latest set of results, Skygold remains
on track to have our first 43-101 compliant resource estimate for the Spanish
Mountain project completed in March. We have three drills on the property
and a fourth planned for late spring and we are working aggressively to expand
all of the mineralized zones. In addition to the drilling and resource
work a program of bulk sampling and continued base line environmental studies
are planned for 2008."
Highlights :
Main Zone:
- Hole 07-DDH-658 intersects 65.5 metres
of 1.12/t gold including 33.0 metres of 1.91 g/t gold
- Hole 07-DDH-663 intersects 71.93 metres
of 1.20 g/t gold including 29.5 metres of 1.81 g/t gold
- Hole 07-DDH-664 intersects 68.4 metres
of 1.42 g/t gold including 33.4 metres of 2.22 g/t gold
East Zone:
- Hole 07-DDH-659 intersects 11.31 metres
of 1.55 g/t gold at the collar so the true thickness of the zone is not
known
Discussion of
Results:
Results to date have mainly
focused on the upper sections of the Main Zone (also termed Main Zone
Argillite); this zone has proven to be very continuous and remains open in all
directions. Holes 07-DDH-663 and 664 have both intersected gold mineralization
and increased the extent of the deposit.. The Main Zone together with the North
and Lower Zones will be included in the initial resource calculation. The
Lower Zone, which occurs beneath the Main Zone and is generally parallel to it,
has begun to show continuity and is becoming more predictable. Hole
07-DDH-658 intersected 65.5
metres of 1.12 g/t gold at a shallower depth than
previous interpretations had indicated. This intercept (portrayed on
Section 1400N which will be available on Skygold's website) remains open to the
west and south-west and suggests that the zone may become shallower to the
west.
Regional drill results
continue to show anomalous values and at present there are many holes for which
results are pending. Further drilling in these areas is planned for early
spring when the fourth diamond drill arrives on the property. Anomalous
gold values occurred in the Main Zone prior to 2004 and with systematic
drilling these anomalies have now become the subject of a resource calculation.
Table of all results:
Area
|
Hole Number
|
|
From
|
To
|
Width (m)
|
Au (g/t)
|
Main Zone
|
07-DDH-614
|
|
Anomalous values
|
|
|
|
|
|
|
|
|
|
|
|
07-DDH-649
|
|
147.0
|
169.5
|
22.5
|
0.66
|
|
07-DDH-649
|
|
241.5
|
262.5
|
21.0
|
1.04
|
|
|
|
|
|
|
|
|
07-DDH-651
|
|
31.5
|
45.0
|
13.5
|
0.64
|
|
07-DDH-651
|
|
170.5
|
178.0
|
7.5
|
1.05
|
|
|
|
|
|
|
|
|
07-DDH-656
|
|
50.0
|
69.5
|
19.5
|
0.56
|
|
|
|
99.5
|
119.0
|
19.5
|
0.56
|
|
|
|
|
|
|
|
|
07-DDH-657
|
|
105.5
|
111.5
|
6.0
|
1.20
|
|
|
|
|
|
|
|
|
07-DDH-658
|
|
25.0
|
57.0
|
32.0
|
0.73
|
|
07-DDH-658
|
|
173.0
|
238.5
|
65.5
|
1.12
|
|
|
Incl
|
174.5
|
207.5
|
33.0
|
1.91
|
|
|
|
|
|
|
|
|
07-DDH-659
|
|
12.19
|
23.5
|
11.31
|
1.55
|
|
|
|
|
|
|
|
|
07-DDH-660
|
|
175.5
|
197.0
|
21.5
|
0.92
|
|
|
|
|
|
|
|
|
07-DDH-662
|
|
75.5
|
116.0
|
40.5
|
0.53
|
|
|
Incl
|
104.0
|
114.5
|
10.5
|
1.01
|
|
|
|
|
|
|
|
|
07-DDH-663
|
|
4.57
|
76.5
|
71.93
|
1.20
|
|
|
Incl
|
11.5
|
41.0
|
29.5
|
1.81
|
|
|
|
|
|
|
|
|
07-DDH-664
|
|
6.10
|
74.50
|
68.4
|
1.42
|
|
|
Incl
|
6.10
|
39.5
|
33.4
|
2.22
|
|
|
|
221.5
|
294.0
|
72.5
|
1.00
|
|
|
|
|
|
|
|
Regional Drilling
|
|
|
|
|
|
|
|
07-DDH-619
|
|
Anomalous Values
|
|
|
|
|
|
|
|
|
|
|
|
07-DDH-620
|
|
Anomalous Values
|
|
|
|
|
|
|
|
|
|
|
|
07-DDH-621
|
|
Anomalous Values
|
|
|
|
|
|
|
|
|
|
|
|
07-DDH-622
|
|
No significant values
|
|
|
|
|
|
|
|
|
|
|
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.