In 2022, the Company signed an option agreement with Metals Creek Resources Corp. (TSXV: MEK, OTC: MCREF) whereby Golden Sky has the right to earn a 100% interest in the company’s Squid East claims in the Yukon. Metals Creek Resources Corp (Metals Creek) initially staked the Squid East Property in February 2011, during the staking rush that ensued after the discovery of the White Gold deposit. The claims are located proximal to the Matson Creek placer gold operations, approximately 80 km northwest of Newmont’s Coffee Project and 90 km southwest of Dawson City.
Soil sampling in 2012 was followed by an airborne geophysical survey in 2013, which outlined magnetic anomalies that are haloed by moderate “low” magnetic signatures, which are interpreted as zones of magnetic destruction due to localized metasomatism. Soil geochemical sampling revealed that these features are associated with elevated Cu, Au, Ag, Mo, zinc (Zn), mercury (Hg), arsenic (As), barium (Ba), and antimony (Sb) values. Anomalous zones with elevated molybdenum, copper, gold, and zinc may outline potential porphyry targets. Trenching over a geochemical gold-in-soil anomaly uncovered bleached, locally hematite and fuchsite-altered sericite schist that returned 1.96 g/t Au and 160.6 g/t Ag over 22 metres. A 4-hole, 428 m diamond drilling program defined a shallowly dipping mineralized zone, with the best interval assaying 1.55 g/t Au and 114.1 g/t Ag over 21.0 metres (see MEK press releases dated August 6, 2013 and October 8, 2013). Additional drilling was carried out by Trifecta Gold in 2017, totaling 546.5 metres in five holes. This drilling yielded elevated gold and silver assays to a maximum of 2.1 g/t Au and 325 g/t Ag over 1.19 metres.
Compilation and interpretation of historical data is currently being conducted with plans to initiate a follow-up field program in 2023.