Big leap in tons, grade reported at Skyline bet

British investors are reported to be at least partially responsible for the heavy trading activity and price appreciation in Skyline Explorations. The stock has been a real mover lately and indeed The Northern Miner has received several overseas calls about the company and its Reg property north of Stewart, B.C.

What has really caught the public’s imagination is an unusually bullish statement in a recent news release attributed to the company’s consultant, Dr E. W. (Ted) Grove. He estimates the potential there at four million tons averaging 0.5 oz gold for an “in-ground value in excess of $1 billion(C).”

This is certainly a quantum leap over the 745,000 tons at 0.62 oz gold reported in late August. Exactly how these numbers were arrived at or the soundness of postulating such a figure has raised more than a few eyebrows among local mining professionals who are anxiously awaiting clarification in future news releases.

Some of the high grade values reported can probably be attributed to the presence of electrum, a natural alloy of gold and silver. Skyline says that visible gold has been “spotted through the entire length” of the 16 zone drift, claiming the vein is 5-9 ft wide and extends below the drift level.

Skyline adds that its “field lab is now operating at full capacity and assays will be reported as soon as they have been completed.” There has been no mention in any recent news releases about any independent assay analysis of samples from the property, which is common practice in the industry.

The property is located in a very isolated area with helicopter and fixed wing aircraft required to bring in supplies. A retreating glacier has exposed minerals in outcrop and float which alerted the company to the property’s potential. The property has multiple vein systems and several styles of mineralization including massive sulphides. Both Placer Development and Anaconda Canada dropped their options on the property.