Sky Metals Drilling at Galwadgere Deposit

THE DRILL SERGEANT: Sky Metals has commenced a program of RC percussion drilling at the company’s 80 per cent-owned (with an option to purchase 100%) Galwadgere copper-gold project near Wellington in New South Wales.

Sky Metals is drilling to test a series of targets at the Galwadgere deposit that will entail a program of four to eight 200 to 250m drillholes to test the Galwadgere mineralisation down dip and along strike as well as confirm historic drill intersections.

“RC percussion drilling at Galwadgere is part of the company’s aggressive exploration program focussed on the drill testing of high priority targets,” SKY Metals CEO Mark Arundell said in the company’s announcement to the Australian Securities Exchange.

“Drilling is primarily focussed on extending both the strike and down dip extent of the Galwadgere mineralisation.”

GARC001 was drilled to test the downdip extent of mineralisation intersected at the southern end of the Galwadgere deposit.

The drillhole did not achieve its target depth of 200m, but intersected a sequence of intensely altered rocks (mostly sericite) with associated pyrite mineralisation from 100m depth.

The company has interpreted this to be proximal alteration of the copper-gold mineralisation and has read the results as being encouraging.

Sky Metals plans to deepen this drillhole with diamond core.

GARC002 was drilled to test the downdip extent of strong mineralisation intersected in previous Alkane drillholes GAL008 (47m at 0.9% copper and 1.58g/t gold from 122m).

Strong sulphide mineralisation (pyrite +/- chalcopyrite) mineralisation was intersected over an approximate 50m zone from 140 to 190m downhole before the drillhole passed into ‘footwall’ unaltered Devonian sediments at approximately 197m.

Samples from these first two drillholes have been submitted for analysis, from which the company anticipates results mid-November.