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Mining Explorers 2011: Skyline Gold Corp.

 

Last updated 11/6/2011 at Noon



SK: TSX-V

Executive Co-chairman: Robert V. Matthews, C.A.

Executive Co-chairman and CEO: Clifford A. Grandison

Chief Operating Officer: James (Jim) Sparling, P.Geo, MBA

Skyline is a junior mineral exploration company currently focused on its principal asset, the Iskut Property in the heart of the Golden Triangle of northwestern British Columbia.

The Iskut Property is adjacent to the historic Snip Gold Mine initially operated by Cominco Ltd., then Homestake Canada Mining Co. During its operation, from 1991 to 1999, the Snip Mine produced 32.093 million grams of gold (1.03 million ounces), 12.183 million grams of silver (392,000 ounces) and 249,276 kilograms of copper (548,000 pounds) from about 1.2 million metric tons of ore.

Another prolific area producer is Barrick Gold Corp.'s former producing Eskay Creek Gold Mine, located 40 kilometers (25 miles) to the east.

Skyline has successfully advanced Iskut's Bronson Slope Deposit through a preliminary assessment with a resource estimate that carries a measured, indicated and inferred metal inventory.

Future exploration at Bronson Slope may expand all three of these resource categories.

Exploration field work was anticipated to start in late June.

Over the past year, Skyline has added to its significant mineral tenure position in the area and is aware of a number of previously identified and under-explored targets within its expanded land base.

The work completed to date has highlighted the Snip Mine-Bronson Slope corridor as well as the Bug Lake and Snip North/Gorge areas as the first to undergo field exploration in 2011.

There are a significant number of other known targets and more will likely be identified as the compilation of existing geological information advances throughout the year.

The company's focus now will be to thoroughly review the existing data, and prioritize these targets for follow-up exploration work.

Skyline also believes there is good potential to locate additional inventories of both high-grade gold and large tonnage base-metal mineralization from new exploration targets.

The company has acted aggressively in acquiring additional property and expanding its geological team with technically strong and seasoned explorationists.

Skyline is particularly interested in exploring its most recent acquisition, the Iskut Joint Venture property.

Four distinct types of mineralization have been identified at Bronson Slope including gold-copper porphyry type mineralization; high-grade structurally controlled gold and silver mineralization with varying amounts of base metals; shear-hosted gold, chalcopyrite, sphalerite and galena; and mineralized breccias zones associated with intrusions.

The current and future exploration objective for the company's expanded land package is to delineate a gold resource that exceeds 5 million ounces.

The Bronson Project preliminary assessment technical report has been fully reviewed by the current team; it is currently envisioned that higher grade ore as front-end mill feed is necessary to enhance the near-term economics of developing the Bronson Slope deposit.

Aeromagnetic and soil anomalies indicate attractive targets which could expand the deposit.

Skyline aggressively explored the Iskut property during the 2011 field season, selecting three high-quality drill targets within the Snip-Bronson trend and testing a new discovery called the Fuchsite Zone. Drilling commenced Oct. 5. The company also undertook a C$4 million non-brokered financing to fund the first phase of exploration work to be carried out in 2011.

Cash and short-term deposits: C$1.17 million (at April 30, 2011)

Working capital (deficit): C$1.25 million (April 30, 2011; raised C$4 million in June 2011)

Market capitalization: C$32.50 million (Sept. 23, 2011)

Suite 611 - 675 West Hastings St.

Vancouver, B.C., Canada V6B 1N2

Ph: 604-681-3989 • Fax: 604-681-3557

http://www.skylinegold.com

 

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