Skyline Gold Corporation

Skyline Gold Corporation

November 20, 2006 17:07 ET

Skyline Announces Assay Results

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 20, 2006) - Skyline Gold Corporation (the "Company") (TSX VENTURE:SK) announces assay results for core holes 200601 and 200602. These are the first assay results from the current year's drilling on the Company's Bronson Slope property in northwestern British Columbia:

Drill Hole From To Intercept Au Cu Ag Mo
Number (metres) (metres) (metres) (g/t) (%) (g/t) (%)
200601 6.8 31.0 24.2 0.723 0.264 3.46 0.0020
200602 2.7 91.1 88.4 0.453 0.229 3.23 0.0028

These assays were obtained from in-fill drill holes in the Company's Bronson Slope deposit within the Red Bluff zone of mineralization. The 2006 drilling program, along with the historical drilling data base, will allow the Company to complete a current resource estimate for the Bronson Slope deposit that is compliant with National Instrument 43-101.

The Bronson Slope historical mineral resource is summarized below along with the contained metal content:

Bronson Slope
Historical Mineral Resource Estimate with Contained Metals
US $6 NSR Cut Off
Category Tonnes Au g/t Ag g/t Cu% Au - Ozs Ag - Ozs Cu - Lbs
Measured 2,280,000 0.574 2.59 0.210 42,076 189,856 10,555,625
Indicated 65,000,000 0.527 2.46 0.195 1,101,323 5,140,901 279,433,050
Total 67,280,000 0.528 2.46 0.196 1,143,399 5,330,757 289,988,675

Inferred 24,300,000 0.454 2.23 0.199 354,693 1,742,216 106,607,842

Assay results from drill hole 200601 over the 24.2 meter intersection exceed the measured and indicated Historical Resource Estimate grade for all metals; gold is 37% higher, silver 41% higher, and copper 35% higher. Hole 200602 assays over the 88.4 meter intersection exceed the average Historical Resource Estimate grade by 31% for silver, and 17% for copper, whereas gold grade is 14% lower. These results are either in line with or better then the average grade of the Historical Resource and are comparable to adjacent historical drill holes.

This year's drilling program objective is to define additional mineralization; and expand the size of the Bronson Slope deposit and through in-fill drilling, to better define the categorization of the resource.

The Bronson Slope Historical Resource is estimated to contain 1,143,399 ounces of gold in the measured and indicated categories and 354,693 ounces in the inferred category; 5,330,757 ounces of silver in the measured and indicated categories and 1,742,216 ounces in the inferred category; 289,988,675 pounds of copper in the measured and indicated categories and 106,607,842 pounds in the inferred category.

The Historical Resource Estimate did not include molybdenum; however Bronson Slope is known to contain zones of molybdenum mineralization. All the core from this year's drilling is being analyzed for molybdenum with the objective of its inclusion in a future current resource estimate.

The deposit contains magnetite, an iron ore suitable for heavy media separation in coal plants. The core was not assayed for magnetite but it is evident from visual inspection that there is a high percentage of magnetite, ranging from 5% to 10%. A series of metallurgical tests are being considered to establish grade, recovery and suitability for coal separation.

The results of the 2006 drilling program will be incorporated in a current resource estimate that is scheduled to commence in December 2006.



J.J. (Jeff) Smulders, President

Mr. Cam DeLong, B.Sc., M.Sc. (Geology), and Mr. Lou Straith, A.Sc.T., managed the drilling program on the Bronson Slope property. Mr. A.A. Burgoyne, M.Sc., P.Eng. is the designated Qualified Person (Q.P.) for the project and has verified the data disclosed. He has determined that the laboratory reports matched the drill sample logs and that the quality control assays fall within reasonable limits. Skyline Gold Corporation's QA/QC procedures incorporate blanks and duplicates inserted at the drill site and standards after sample preparation. Drilling is by wire line core using diamond bits. ACME Analytical Laboratories Ltd. in Vancouver, British Columbia (an ISO9001:2000 Accredited lab) process a one-half split of HQ diameter core from each three-metre section of the drill hole weighing approximately 12 kg. Analyses for gold are with a 50 gram sub sample, fire assay fusion with ICP-ES (Induced Couple Plasma-Emission Spectrographic) finish; copper analyses are with a 1 gram sub sample, aqua regia digestion followed by ICP-ES finish; silver and molybdenum analyses are with a 0.5 gram sub sample, aqua regia digestion followed by ICP-ES finish.

Cautionary Statement

Statements in this release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the Company can fulfil such forward-statements and the Company undertakes no obligation to update statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the Company, some of which are beyond the Company's control.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Skyline Gold Corporation
    J.J. (Jeff) Smulders
    (604) 270-3878
    (604) 270-3858 (FAX)