The Natalka deposit ranks third in world gold deposits behind Indonesia's Grasberg deposit and Uzbekistan's Muruntau deposit. Both Natalka and Muruntau have been classified as Sedimentary Hosted Vein Deposits (SHV's) and have many similarities to Skygold's Spanish Mountain project in central British Columbia. Skygold personnel are touring the Natalka deposit to gain knowledge about SHV deposits in general and to tap into the exploration success that Polyus Gold has had in exploring for these types of deposits.
Scott Weekes, VP Exploration for Skygold, states: "We are extremely lucky to have this opportunity to tour one of the world's giant gold deposits. The recognition of Spanish Mountain as an SHV style deposit has significantly changed the scope of our exploration program and being able to tour the Natalka deposit should help put our program in perspective. The Polyus Group have been extremely successful in their exploration at Natalka and anything we can learn about the deposit or their exploration techniques will benefit the Spanish Mountain program."
About the Spanish Mountain property
The Spanish Mountain property is host to a large size gold mineralizing system which has only been partially tested with diamond drilling. Previous work has outlined a mineralized zone extending approximately 1.2 kilometres by 0.8 kilometres which remains open in all directions. This year's program will test an area approximately five times the size of the Main Zone. This area has similar geochemical and geophysical characteristics to known gold mineralization on the property.
The Spanish Mountain project is a joint venture between Skygold Ventures Ltd. and Wildrose Resources Ltd. in which Skygold has a 70% participating interest and Wildrose has a 30% participating interest.
On Behalf of the Board,
SKYGOLD VENTURES LTD.
Doug Fulcher, President
This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For more information, please contact
Skygold Ventures Ltd.
(604) 684-0279 (FAX)
B&D Capital Partners
VANCOUVER, BRITISH COLUMBIA - Skygold Ventures Ltd. (Skygold) (TSX VENTURE:SKV) (the "Company") is very pleased to have been invited to tour the world's third largest gold deposit. The Natalka deposit in eastern Russia is owned by Polyus Gold and has reserves in excess of 48 million ounces of gold. The reserves have been classified by GKZ the Russian state agency responsible for mineral resources and listing of reserves.