Eagle Mountain Property

Summary

Large, consolidated land package with ~10,000-hectares (100 km2) to explore
Located in the Cassiar Gold District, which is host to Cassiar Gold Corp’s neighboring Cassiar Project covering the Taurus Deposit, with an inferred resource of about 1 M oz at 1.43 g/t Au (see website, Cassiar Gold Corp)
100% owned by Golden Sky Minerals with no underlying royalties or payments
Nearby infrastructure includes an electric power grid, water, and a mill located on Cassiar Gold Corp’s neighboring Cassiar Project. Dease Lake is located 80 km SSW by helicopter and a staging area along Highway 37 is located 14 km west of the Property, rendering exploration very cost-effective.
Historic work on the Eagle Mountain-Gold Property (1983-1986) confirmed that precious metal mineralization is associated with stacked faults/shears. Largely underexplored, this property has significant potential to host a significant orogenic gold deposit.
Four gold zones defined by soil sampling and prospecting in 2022; the NW Zone, West Saddle Zone, Stibnite Lake Zone, and Shark Lake Zone
2022 rock samples collected with values up to 2.8 g/t Au and gold-in-soils up to ~2.0 g/t Au

Geology

The Eagle Mountain Property overlies mafic volcanic and sedimentary strata belonging to the Slide Mountain Terrane, which also underlies Cassiar Gold Corp’s neighboring Cassiar Project. The rocks on the property are interpreted to belong to the Sylvester Group, which consists of Upper Devonian to Mississippian greenstone, chert arenite, chert, argillite, slate and quartzite. The property lies just west of the axial trave of the southwest plunging McDame synclinorium. Quartz monzonite and granodiorite of the Cretaceous Cassiar Batholith outcrops along the southwest edge of the property.

Previous exploration was focused on a plateau area that contained a concentration of several dominant linear structures trending 305°, ~350°, and ~80°. Precious metal mineralization with associated iron-carbonate alteration has been reported to be present along the latter two trends. Soil sampling proved highly effective at outlining these structures as these were typically recessive features covered by overburden. One such auriferous structure at the West Saddle Zone extended >750 m in length and remains open to the southwest and northeast.

Gold appears to be associated with quartz veining, disseminated pyrite, and varying amounts of silica, sericite and iron (Fe) carbonate alteration. When manganese is present, there is a direct correlation with elevated gold values (Sample 1862934 assayed 2.8 g/t Au).

There is excellent potential for high-grade quartz vein targets and bulk-tonnage disseminated targets across the property.

Exploration History

There is no record of previous work on the claims prior to their being staked in 1983.
Work conducted in 1983 and 1984 included geological mapping, grid establishment, prospecting, a VLF-EM survey, and eight hand trenches. The trenches exposed several areas with anomalous base and precious metal mineralization.
In 1986, more detailed magnetometer, VLF and VLF-Resistivity and IP geophysical surveys were conducted. This was followed by a six-hole, shallow BQ-size diamond drill program that totaled 376.2 m with only 65.95 m of core sent for analysis. Logs from the holes were only reported for 3 of the 6 holes.
- Mineralization was demonstrated to be predominantly associated with stacked, moderately-dipping shears and/or fractures commencing <10 m downhole. As only 65.95 m of core was sent for analysis, the result was isolated anomalous values over core length. One intersection of assayed core is from Hole 86-CUX-E-1 (1986), where low-grade mineralization was intersected starting at ~15 m depth. This section averaged 0.5 g/t Au and 35.87 g/t Ag over 2.4 m, which includes a higher-grade zone assaying 2.27 g/t Au and 462 g/t Ag over 0.15 m. Though limited in scope, the drilling successfully demonstrated that precious metal mineralization is associated with linear shear zones.
In 2021, Precision GeoSurveys Inc. was contracted to conduct a high-resolution helicopter-borne magnetic, VLF-EM and radiometric survey over a ~3,900-hectare block within the 10,000-hectare Eagle Mountain project. The geophysical data proved effective at corroborating and extending many of the stratigraphic contacts and geological structures delineated by historic geological mapping in the 1980s. This further supports the interpretation that the project overlies a structurally complex corridor with several potential gold targets.
In 2022, ground-based fieldwork included the collection of approximately 100 rock and 500 soil samples from four main zones selected as high-priority exploration targets. Assay results were highly encouraging, with numerous rock and soil samples returning anomalous gold values. The rock sample returning the highest gold grade, a quartz-veined breccia with disseminated pyrite and stibnite with limonite and manganese oxide, assayed 2.8 g/t gold (Au), 0.7% zinc (Zn), >1% lead (Pb), 221 ppm copper (Cu), 0.2% antimony (Sb), and >1% arsenic (As). Anomalous gold values in soils proved effective at delineating several gold trends interpreted to be gold-bearing quartz veins hosted in faults and/or shears.

Targeting Orogenic Gold

The Eagle Mountain Project is located in a prolific past-producing gold district, which hosts Cassiar Gold Corp’s neighboring Cassiar Project covering the Taurus Deposit, with an inferred resource of about 1 M oz at 1.43 g/t Au (see website, Cassiar Gold Corp). The Cassiar Mining District is considered an orogenic gold camp within a geological setting favorable for hosting large gold deposits within the Intermontane Belt of the eastern Cordillera. The Intermontane Belt also hosts the Bralorne (>4.2 M oz Au) and Cariboo (>4 M oz Au) gold camps.

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