- Sky Metals (SKY) has received assays from a resampling program conducted at the Hume Target which is part of the Cullarin Gold Project in NSW
- Assays have been received for two out of nine holes which have confirmed the potential of the Hume Target to host exceptional gold mineralisation
- The first hole returned gold grading up to 7.15 grams per tonne and the second saw a peak grade of 5.14 grams per tonne gold
- A reverse circulation drilling program is now underway ahead of a diamond drilling program planned to begin next week
- Company shares closed 16.1 per cent in the red to trade for 13 cents
Sky Metals (SKY) has received results from a resampling program conducted at the Hume Target within the Cullarin Gold Project in New South Wales.
The company collected nine historical diamond core drill holes from the NSW Government drill core library for resampling. This marks the first time these holes have been sampled by a consistent method.
Pleasingly, the resampling program confirmed the potential of the Hume Target to host exceptional gold mineralisation.
Assays have been received from the first two holes. The first hole returned 134.1 metres at 1.10g/t gold from 25.9 metres including 12 metres at 3.96g/t from 32 metres including four metres at 7.15g/t gold from 32 metres.
The second hole also yielded positive results intersecting 135.8 metres at 0.73g/t gold from 23.8 metres including seven metres at 5.14g/t gold from 23.8 metres.
Both holes intersected a zone of intense silica alteration with matrix base metal mineralisation at a 30 to 40 metre depth. This is interpreted to represent the Hume high-grade target.
"In addition, the multi-rig drill program at Cullarin has commenced, with RC drilling of new gold targets underway, and diamond drill testing of the Hume target commencing next week," CEO Mark Arundell said.
The company has begun a six-hole reverse circulation (RC) drilling at the Hume North target which is targeting a soil anomaly that occurs over 1200 metres of strike.
Next week, a diamond drilling program will commence at the Hume high-grade target. This will aim to test the target's strike and depth extent.
Company shares closed 16.1 per cent in the red to trade for 13 cents.