Sky Metals Limited (ASX: SKY) has announced a highly encouraging update on the exploration activities at its Cullarin Gold Project in NSW.
The company reported that the maiden SKY drilling programme at the Hume Prospect, Cullarin Project returned outstanding gold results.
Significant intercepts include 93m @ 4.24 g/t gold from 56m (66% recovery) including 36m @ 2.88 g/t gold from 56m (28% core recovery from hole HUD002; and 54m @ 0.84g/t gold from 116m, including 5m @ 5.76g/t gold from 128m from hole HUD001.
The company said that the geophysics and recent soil results indicate a target zone extending 4km north of HUD002.
SKY reported that the planning of a follow up drill focussed exploration programme is well advanced.
Cullarin gold project
The Cullarin Gold Project is located 25km west of Goulburn in central New South Wales. The area comprises volcanosedimentary rocks of the Silurian Campbells Group and is considered prospective for a range of gold-copper-zinc mineralisation types.
The Hume Prospect is located at the southern end of the Cullarin Project tenement (EL7954). Previous exploration in this area has focussed on VHMS base-metal mineralisation. SKY, however, is targeting ‘McPhillamy’s Style’ gold mineralisation within the same rock sequence, but at a slighter lower stratigraphic level.
Maiden drilling at Cullarin
The company reported the completion of its maiden drilling programme at the Hume Prospect in Cullarin Project in January 2020.
SKY said that two diamond core holes, HUD001 and HUD002, were drilled approximately 200m apart to test and extend the scale and tenor of gold mineralisation recorded in historic drilling.
The company announced that both holes intersected a broad package of strongly altered volcaniclastic rocks with associated zinc and lead sulphides, consistent with the target ‘McPhillamy’s style’ gold mineralisation.
SKY reported that the mineralisation in hole HUD002 was visibly stronger and included visible gold. The company noted that the results from drillhole HUD002 indicate the potential for a significant high-grade gold system at the Hume Prospect.
The company said that the hole HUD002 also included zones of significant core loss in the shallow sections of the hole associated with mineralisation. Lower recoveries were associated with broken and clay altered zones.
Important intersections from HUD001 includes 54m @ 0.84g/t gold from 116m, including 5m @ 5.76g/t gold from 128m, and 23m @ 0.76 g/t gold from 224m.
Significant hits from HUD002 includes 93m @ 4.24 g/t gold from 56m (66% recovery) including 36m @ 2.88 g/t gold from 56m (28% core recovery), and 14m @ 20.2 g/t gold from 92m (63% core recovery), and 43m @ 1.30 g/t gold from 106m (>95% core recovery).
Table below shows the details of assay results from both drill holes.
Encouraging geophysical survey, soil sampling results
SKY announced that the re-imaging of a high-resolution geophysical survey collected by a previous explorer has revealed a distinct potassium (K) radiometric anomaly, akin to that associated with the McPhillamy’s deposit, trending to the north of hole HUD002.
SKY also reported that it has received results from its first soil sampling programme completed over the southern end of the radiometric anomaly noted above.
The company said that the results indicate a coherent McPhillamy’s pathfinder anomaly co-incident with radiometric anomaly over what is now referred to as the Hume Target area.
McPhillamy’s style target at Hume
Sky Metals said reported that the combination of a high potassium (K) radiometric signature, together with a pronounced magnetic low, and gold and multi-element pathfinder elements in the soil results, describe a compelling ‘McPhillamy’s style target at Hume, which extends approximately 4km to the north of hole HUD002.
SKY said that it is currently evaluating these results in detail and planning of a drill focussed exploration programme is well advanced.
SKY reported that further drill testing to assess the scale and grade of the mineralisation is planned along with investigation of related targets.
SKY CEO Mark Arundell said: “These are outstanding results from our maiden drill programme and a very strong validation of the SKY gold strategy and targeting methodology.
These drill results, combined with the soil results, upgrade both the potential tenor and scale of the Hume Target. The management and exploration team are justifiably proud of these exceptional results and we are tremendously excited by the possibilities of the next stage of exploration”