Gold prices may be testing new lows, but Skyline Gold (TSE) is forging ahead with plans to resume exploration on its land package in the Iskut River district of northwestern British Columbia.
The junior company operated a mine in the district from August, 1988, to September, 1990, and produced 85,000 oz. gold, 113,000 oz. silver and 2.1 million lb. copper. The mine failed to achieve commercial production, however, because of operating problems, a lack of developed reserves, and high costs associated with a lack of road access. Skyline’s land package adjoins the Snip gold mine which is successfully operated by Cominco (TSE). Skyline is planning to re-explore its Johnny Mountain mine, focusing on the Zephrin, Sixteen, Discovery and Pickaxe veins. The company is also proposing to explore its Craig River property previously under option to Adrian Resources.
A number of targets have been identified on the Craig River property which are considered to have potential to host gold-bearing massive sulphide, similar to Snip shear-vein style mineralization.
The main target is the SMC zone, where previous trenching (by Adrian) defined massive to semi-massive mineralization over a 590-ft. strike length, of which only 130 ft. was tested by drilling.
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