Goldsky Resources drills 75.3 metres at 4.61 g/t gold at Barsele
True widths remain unknown as the first Skiråsen infill hole tests resource confidence at the wholly owned Swedish gold project.
Mara Quinlan
Goldsky Resources Corp. CVEGSKR OTCMKTSGSKRF FRAHEG0 reported on Tuesday that hole SKI26001 returned 75.3 metres at 4.61 grams per tonne gold at Barsele in Sweden. The hole is part of a 25,000-metre program designed to upgrade inferred resources to indicated at the wholly owned project.
Shares rose 4.2 per cent to C$2.96 on the TSX Venture Exchange at Monday's 4 p.m. EST close, according to CVEGSKR. That session preceded Tuesday's assay release.
Both headline intervals are core lengths with true widths unknown, and Goldsky said the drilling angle makes the reported lengths much greater than the zones' true widths. The company cautioned that one hole does not establish continuity.
Drilling had reached 9,105 metres by Nov. 6 against the planned 25,000 metres. Results will feed an updated resource estimate planned for 2027, with assays from three other completed Skiråsen holes still pending.
The deeper intercept starts 200 metres downhole and includes 2 metres at 63.76 grams per tonne gold. Assays below the reported interval remain pending, so its final extent has not been established.
The second intercept returned 87 metres at 2.58 grams per tonne gold from 71 metres downhole. It includes 2 metres at 27.26 grams per tonne.
The upper interval lies roughly 50 to 110 metres below surface. Goldsky puts the deeper interval at vertical depths of about 140 to 190 metres.
Applying a 30 grams per tonne cap to high assays reduces the deeper interval's average to 3.44 grams per tonne and the upper interval's average to 2.36 grams per tonne.
"This is exactly the hole you hope for at the start of a program: gold-bearing core from 71 meters down to the last sample assayed at 275 meters, with two long higher-grade intervals," chief executive Russell Bradford said.
About three-quarters of the upper interval lies inside the existing interpreted high-grade wireframes, compared with about a quarter of the deeper interval. Goldsky said the effect on its resource will be known only after the program results are modelled.
Read more: Spanish Mountain Gold drills 40.7 metres at 1.26 g/t gold and files PEA
The Sept. 22 program announcement followed consolidation of full Barsele ownership in June. By Nov. 6, Goldsky had completed 25 holes and had three in progress, with a rig working at each of the Central, Avan and Skiråsen zones.
Goldsky's June 30 financial statements showed C$56.36 million in cash. Operating activities used C$10.21 million during the six months ended June 30.
The company's reporting calendar lists Nov. 27 for its third-quarter results.
