Skyline Gold Corporation
TSX VENTURE : SK

Skyline Gold Corporation

September 29, 2010 10:44 ET

Skyline Gold Identifies Snip-1 High Grade Gold Outcrop and Announces Follow-Up Drilling

RICHMOND, BRITISH COLUMBIA--(Marketwire - Sept. 29, 2010) - Skyline Gold Corporation (TSX VENTURE:SK) ("the Company) is pleased to announce that fieldwork consisting of geological and structural mapping as well as outcrop sampling has been completed at the Snip-1 high-grade gold exploration area located at the Company's Bronson Slope property in north western B.C.

A mineralized outcropping in the Johnny Creek gorge was also identified and sampled during this period of work. The mineralized structure cuts across the gorge and is estimated to have a true width of approximately 15 meters, a strike of approximately 120 degrees, and a dip of approximately 85 degrees to the north.

Six continuous chip samples, SP9-8-1 to SP9-8-6, were collected at the lower contact of this structure with each sample consisting of 1.0 to 2.5 kg of outcrop material. The seventh chip sample tested the hanging wall contact. The remaining, internal 8 metres of this structure is in a precipitous location and could not be tested safely from surface. The chip samples were taken each with dimensions of approximately 1 meter along the horizontal axis by 4 centimeters vertically.

Assay results have been received for three of the seven samples and report the following values:

Sample Weight Gold Silver Copper Iron Zinc
  [kg] [g/t] [g/t] [%] [%] [%]
             
SP9-8-3 1.38 6.31 44.0 0.2 10.6 2.3
SP9-8-4 1.00 0.20 6.2 0.0 8.8 0.2
SP9-8-7 2.40 33.40 179.0 0.1 33.5 1.7

The Company is pleased to announce a 1,000 meter diamond drilling program as well as surface exploration work at this zone. The drilling will be laid out to test the continuity of this structure along a limited strike length. The surface exploration program will test the structure along strike, as well as focus on developing additional drill targets. Work on site is expected to commence within two weeks. Results will be released as obtained and complete assay data will be posted to the Company's website.

These chip sample assays were completed by ALS Canada Limited, an ISO 9001:2008 certified facility. The following assay procedures were utilized:

  Analytical   Procedures        
   
  Gold FG =   50g Fire Geochem Assay with Atomic Absorption finish, ALS Canada procedure Au-AA24
  Gold FA =   50g Fire Assay, ALS Canada procedure Au-GRA22
  ICP =   Inductively Coupled Plasma, ALS Canada procedure ICP ME ICP61  
  Silver FA =   Ore Grade Fire Assay, ALS Canada procedure Ag-OG62 
  Zn AA =   Ore Grade Zinc Assay, ALS Canada procedure Zn-OG62  

David Yeager, P.Geo. the Company's consulting geologist who meets the requirements of a Qualified Person in accordance with N.I. 43-101, has reviewed this news release for technical accuracy.

ON BEHALF OF THE BOARD OF DIRECTORS

SKYLINE GOLD CORPORATION

David Jensen, P.Eng., President & COO

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 fulfill 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Skyline Gold Corporation
    David Jensen, P.Eng.
    President & COO
    604 270 3878
    604 270 3858 (FAX)
    www.skylinegold.com