Sky Gold identifies anomaly at Evening Star

Executive Summary

• Sky Gold Corp. has released results from recent geophysical and integrated geological surveys at its Evening Star property in Nevada, identifying a large, coherent geophysical anomaly characteristic of a copper-gold porphyry system at the High Life target.
• The surveys reveal a large (~1 km diameter) magnetic body with overlapping induced polarization (IP) and gravity anomalies, interpreted as the potassic core of a preserved intrusive center with potential mineralization at depth.
• Historic drilling data from the Gold Bug area, previously interpreted as shallow testing, is now viewed as the upper altered cap of this larger system, with specific historic intercepts highlighted as a strong focus for future exploration.

Key Details

• High Life Target Geophysics:
  • Magnetic survey outlines a large, single positive magnetic anomaly approximately one kilometre in diameter.
  • 3D processing reveals a robust, deeply rooted magnetic body interpreted as the potassic core of a porphyry system.
  • Three IP lines show overlapping resistivity and chargeability highs, displaying strong geophysical zonation: an outer conductive ring surrounding an inner resistive core.
  • Gravity survey data (from 2020) shows a rare coincident response at High Life: a gravity high, resistivity high, and chargeability high, enhancing prospectivity for a large, intact porphyry system.
• Historic Drilling Data (Gold Bug):
  • Historic hole drilled in 1970 south of Gold Bug intersected Carbonate Replacement Deposit (CRD) style mineralization (galena and sphalerite in carbonate rocks).
  • Broad Intercept: 0.22% Cu, 3.24% Pb, 1.41% Zn, and 76 g/t Ag over 150.2 metres.
  • High-Grade Section: Within the broad intercept, 0.60% Cu, 14.88% Pb, 4.70% Zn, and 408 g/t Ag over 6.10 metres.
  • The historic hole was not assayed for gold; magnetic surveys show discrete anomalies potentially representing skarn mineralization in this area.
• Other Targets:
  • Tower Gold: Recent drilling consisted of four short holes totaling 381 metres (average depth 76 metres), now interpreted as testing the upper, oxidized portion of the system rather than the primary mineralized zone.
  • Golden Bomber: Surface sampling returned strong copper and high-grade gold up to 25.9 g/t Au and 1.01% Cu. Recent trenching exposed subparallel chalcedonic quartz veins (assays pending), suggesting a well-developed epithermal vein system.
• Strategic Outlook:
  • The integrated data supports a model of a large, concentrically zoned mineral system defined by a solitary magnetic high at its center.
  • Sky Gold intends to continue drill testing at High Life and across the project area based on this technical basis.

Notable Quotes

• "Taken as a whole, the geophysical and geological surveys provide compelling evidence that suggest we may be sitting on a substantial copper-gold porphyry system." — Mike England, Chief Executive Officer