VANCOUVER, British Columbia, Jan. 13, 2025 (GLOBE NEWSWIRE) — Golden Sky Minerals Corp. (AUEN.V) (“Golden Sky” or “The Company”) is pleased to announce the results of its 2024 geochemical rock sampling program at the Rayfield property, which yielded grades up to 5,107 ppm (0.51%) Cu and 79 ppb gold (Au) (Figure 1). This sampling program was designed to follow-up on a chargeability anomaly outlined by the spring 2024 induced-polarization (IP) geophysical survey over the Rayfield target.
The ~52,000-hectare Rayfield property is located in the Quesnel terrane, British Columbia’s primary copper-producing belt, which hosts Teck Resources’ Highland Valley Mine, Imperial Metals’ Mount Polley Mine, Centerra Gold’s Mount Milligan Mine, and Kodiak Copper’s MPD Project. The road-accessible Rayfield copper-gold property is located approximately 20 kilometers east of the town of 70 Mile House, British Columbia, and is accessible year-round by well-maintained service and logging roads extending from BC Highway 97.
The Rayfield target is largely covered by glacial till; however, bornite, chalcopyrite and copper oxide minerals were identified in outcrop and scree rock samples. The highest copper grade was collected from sample 118891 (0.51% Cu and 79 ppb Au), which contained veinlets of chalcopyrite in a silicified hornblende syenite (Figure 2). This sample was collected in close proximity to several megacrystic alkali-feldspar porphyry boulders in scree. One of these megacrystic rock samples with mineralized potassic veinlets assayed 0.17% Cu and 24 ppb Au.
In the Quesnel Terrane, mineralization associated with a megacrystic porphyry may indicate a nearby potassic core of a porphyry system, particularly when paired with an elevated chargeability response from IP surveying, a geophysical signature often linked to disseminated sulfides. Megacrystic porphyry intrusions, with their rapid magmatic ascension through the crust, commonly result in fracturing and brecciation of surrounding rock. This enhances hydrothermal fluid flow, acting as both a source and pathway for mineralizing fluids. This fracturing increases permeability within marginal intrusive rock and proximal country rock, creating an ideal environment for metal sulfide deposition. Alkali-feldspar monzonitic magma has been postulated to have been a trigger for explosive brecciation at the Northeast Deposit within the Mount Polley property. Sulphide-rich hydrothermal brines then precipitated copper and gold within the megacrystic alkali-feldspar monzonite porphyry and proximal breccias.
The 2024 program also identified several outcrops of brecciated hornblende syenite in close proximity to historic drillholes which assayed up to 0.18% Cu over 43.4 m (DDH-374-03) (Figure 1 & 2). The rock is composed of wispy veinlets of magnetite between bleached syenite clasts with weak epidote and potassic alteration. Though the breccia appears unmineralized on surface, some of the historic drillholes intersected more intensely altered and mineralized breccia at depth.
John Newell, President and CEO of Golden Sky Minerals, states: “These promising results from the 2024 geochemical sampling program reinforce the potential of the Rayfield Copper-Gold Property as a significant copper porphyry system. The discovery of a rock sample returning 0.51% copper in a silicified hornblende syenite, combined with compelling geological indicators such as potassic alteration and chargeability anomalies, highlights the property’s potential for porphyry-style copper mineralization.
Our findings, including the identification of mineralized megacrystic intrusions and brecciated syenites, point to a robust porphyry system with excellent exploration potential. Rayfield’s location within the Quesnel Terrane, one of British Columbia’s most productive copper belts, further underscores its strategic importance. We are excited to advance this project and unlock its value through continued comprehensive exploration in 2025.”
Figure 1: The Rayfield target zone is defined by a large multi-kilometre IP geophysical anomaly. The Rayfield target zone is highly prospective, with anomalous copper-in-soil values up to ~0.396% Cu, and rock samples grading up to 0.51% Cu and 79 ppb Au. The presence of megacrystic intrusions provides additional evidence for a well-developed mineralized porphyry system with similarities to the Northeast Deposit within the Mt. Polley property.
Figure 2: Mineralization occurs as disseminations, within veins, and along fracture surfaces. The various types of mineralization and rock textures underscore the potential of the Rayfield target to host a well-developed porphyry system.
About Golden Sky Minerals Corp.
Golden Sky Minerals Corp. is a well-funded junior grassroots explorer engaged in the acquisition, assessment, exploration, and development of mineral properties located in highly prospective areas and mining-friendly districts. Golden Sky’s mandate is to develop its portfolio of properties to the mineral resource stage through systematic exploration. The drill-ready properties include Hotspot and Lucky Strike, both in Yukon, Canada. In addition, the drill-ready Rayfield Copper-Gold Property in southern British Columbia, and the staking of the Auden Property in Ontario, add to the company’s substantial early-stage Canadian property pipeline.
Updated Capital Structure
Following the expiration of 13,600,000 warrants on December 18, 2024, Golden Sky Minerals Corp. has updated its share capital structure as of January 13, 2025. The revised table is presented below:
| as at January 13th, 2025 | Golden Sky Minerals Corp. (AUEN.V) |
| Total Shares Outstanding | 19,724,613 |
| Total Warrants Outstanding | Nil |
| Total Stock Options Outstanding (strike prices of $0.15, $0.20, $0.28 and $0.36) | 2,072,461 |
| Fully Diluted | 21,797,074 |
| Stock Options expire in 2025, 2026, 2027, and 2029 | |
For further information about the Company and its projects, please visit www.GoldenSkyMinerals.com.
ON BEHALF OF THE BOARD
John Newell, President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Golden Sky’s British Columbia exploration projects, and has reviewed and approved the technical information in this release.
For new information from the Company’s programs, please visit Golden Sky’s website at www.GoldenSkyMinerals.com or contact John Newell by telephone (604) 568-8807 or by email at [email protected] or [email protected].
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “anticipates”, “expects”, “understanding”, “has agreed to” or variations of such words and phrases or statements that certain actions, events or results “would”, “occur” or “be achieved”. Although Golden Sky has attempted to identify important factors and risks that could affect Golden Sky and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended, including, without limitation: inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting drill results and other exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with Golden Sky’s expectations; accidents, equipment breakdowns, title and permitting matters; labour disputes or other unanticipated difficulties with or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on its projects; that Golden Sky may not be able to confirm historical exploration results and other risks set forth in Golden Sky’s public filings at www.sedar.com. In making the forward-looking statements in this news release, Golden Sky has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Golden Sky does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
GOLDEN SKY MINERALS CORP.
2110 -650 West Georgia Street
Vancouver, British Columbia
Canada, V6B 4N9
Telephone: 604 568 8807
Facsimile: 604 681 1864
www.goldenskyminerals.com
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/bda76b39-4941-43b5-9911-e3bb61008951
https://www.globenewswire.com/NewsRoom/AttachmentNg/460bda9f-7b86-451b-be19-4b2f448ff92d
