Goldsky obtains 90.8% gold recovery in Barsele tests

Goldsky Resources Corp. (GSKR) reported metallurgical test results from Alfred H. Knight Laboratory for its 100%-owned Barsele gold project in Sweden. The testing confirmed gravity-recoverable gold and fast leach kinetics using a conventional gravity-cyanidation flow sheet.

Overall mass balance gold recoveries reached 89.6% for the Central composite and 90.8% for the Avan composite. Gravity concentration recovered 30.2% (Central) and 27.7% (Avan) of the gold, indicating significant gravity-recoverable components. Leach extraction on gravity tailings achieved 86.0% (Central) and 88.1% (Avan) with fast kinetics plateauing at 12 hours. Reagent consumption is low at approximately 0.75 kg/t cyanide and less than 0.5 kg/t lime.

The results support the ongoing Preliminary Economic Assessment (PEA) and lay the groundwork for optimization testwork ahead of a Prefeasibility Study (PFS). Next steps include plant gravity testing, grind size optimization, oxygen addition for cyanide reduction, and silver leaching kinetics evaluation.

Goldsky Resources Corp. (GSKR) released a routine positive update regarding its metallurgical test program, which commenced in August 2026. The company reported recovery rates near 90%, a figure standard for gravity-cyanidation flowsheets that aligns with expectations and does not represent a material deviation. These results validate the process design for the Barsele project, thereby reducing technical risk for the upcoming Preliminary Economic Assessment (PEA) targeted for 2027.

The announcement is incremental to the strategic milestone of achieving 100% ownership of Barsele in June 2026. No new financial guidance or capital raising was indicated, as the company continues to fund operations from its existing cash balance.

Goldsky Resources Corp. (GSKR) is a Nordic-focused gold exploration and development company. Its flagship asset is the Barsele Gold Project in northern Sweden, which the company acquired 100% ownership of in June 2026. Barsele hosts an Indicated resource of 7.88 Mt at 1.27 g/t Au (320,781 oz) and an Inferred resource of 28.75 Mt at 1.98 g/t Au (1.83 moz).

The company also holds the 100%-owned Rajapalot Gold-Cobalt Project in Finland, with an Inferred resource of 9.78 Mt at 2.8 g/t Au and 441 ppm Co. The portfolio spans over 123,000 hectares across Sweden and Finland, positioned along the Gold Line greenstone belt. Management is focused on advancing Barsele toward a PFS and completing resource upgrades at Rajapalot to support permitting.