The Property, comprising 5,894 hectares (includes
VTEM Survey Results: The survey yielded both electromagnetic and magnetic data, important tools for the exploration and delineation of targets, in the search for magmatic Ni-Cu-Co-PGE deposits.
Interpretation of the VTEM data yielded over 70 target areas for follow-up. Compilation of the VTEM data with geological, geochemical and geophysical data in Sky's possession yielded 8 high-priority target areas slated for immediate follow-up and subsequent diamond drilling. None of the high-priority targets have been evaluated by historic diamond drilling.
The targets ranked as high-priority, comprise single conductors and conductor clusters, delineated over strike lengths ranging from 400 to 1300 metres and are graded as moderate to strong in intensity. Some of the conductors display a positive correlation with magnetic highs while others have weak to moderate magnetic expression.
Strongly supporting the geophysical targets is an extensive cluster of highly anomalous, nickel, copper, chrome, platinum and palladium values in glacial till, delineated by an
The geophysical targets and geochemical anomalies coincide with mafic and ultramafic rocks including peridotite, pyroxenite and gabbro flows and sill-like bodies - the same rocks that host the adjoining Shebandowan Ni-Cu-Co-Cr-PGE mines to the immediate north.
Collectively, the VTEM targets, geochemical anomalies and mafic and ultramafic rocks are closely related to the Tinto Fault and related splays. The Tinto Fault is a deep-seated structure situated at a major terrain boundary, separating rocks of the
In addition to the Ni-Cu-Co-PGE potential of the Property, there is excellent potential for the discovery of orogenic gold deposits as well. Historic geochemical work completed by Mingold in the 1990's, delineated an area in the SW part of the Property containing an elevated number of gold grains supplemented by anomalous geochemical assays in gold, at numerous sample sites (the Mingold Au anomaly). This anomaly is located proximal to the Tinto Fault, enhancing the prospects for the occurrence of orogenic gold deposits to occur on the Property.
Moving Forward at
An integrated exploration program involving soil geochemistry, trenching and diamond drilling will commence on the
Trenching will be performed where overburden conditions allow, to evaluate high-priority VTEM anomalies coincident with anomalous soil geochemistry underlain by mafic and ultramafic rocks. All high-priority targets are anticipated to be evaluated by diamond drilling this season.
Thunder Bay North District Potential:
Given the considerable number of nickel, copper and PGE mineral occurrences in the Thunder Bay North district particularly, the world-class past-producing
In addition, the diverse favorable geological setting in the Thunder Bay North district presents many opportunities to make new discoveries and/or to assess older historic occurrences using modern metallogenic models and current exploration technology.
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Forward Looking Statements
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the matters described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements, including with respect to the completion of the Consolidation or the identification or acquisition of additional mineral assets. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company's control. These forward-looking statements are made as of the date of this news release.
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