Golden Sky Uncovers High-Grade Copper in BC

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Golden Sky Minerals Corp. (AUEN:TSX.V; LCKYF:OTC) has announced a definitive agreement with Boliden Mineral Canada Ltd., a wholly owned subsidiary of Swedish major mining and smelting company Boliden AB, to work together on developing Golden Sky's fully owned copper-gold porphyry Rayfield Property and Boliden's fully owned Gjoll Property.

Initially, Boliden will have the opportunity to earn an 80% interest in the Rayfield Property by investing up to CA$20 million in staged exploration expenditures and cash payments over six years, Golden Sky said in a release.

Once the earn-in option is exercised, the Rayfield Property will be combined into a joint venture with Boliden's Gjoll Property, where Golden Sky will hold an initial 20% interest.

"This partnership is transformational for Golden Sky," President and Chief Executive Officer John Newell said. "Boliden's decision to collaborate with us on Rayfield-Gjoll validates the district-scale copper-gold potential of this project. It allows us to preserve our tight share structure while aggressively advancing exploration in one of Canada's most prolific mineral belts."

The contiguous Rayfield and Gjoll properties, situated less than 60 kilometers northwest of Kamloops, British Columbia, cover 87,660 hectares (ha) within the prolific Quesnel Trough, one of Canada's leading porphyry copper belts. This metallogenic corridor is home to several major mining operations, including Teck's Highland Valley Copper Mine, Taseko's Gibraltar Mine, New Gold's New Afton Mine, Hudbay's Copper Mountain Mine, and Imperial Metals Mount Polley Mine.

Golden Sky noted that the Quesnel Trough is known for its significant metal endowment and established production history; however, large areas remain underexplored using modern, systematic exploration techniques. The region benefits from strong infrastructure and year-round access, facilitating efficient exploration and development activities.

The Rayfield Target features an open-ended moderate chargeability and resistivity anomaly of about 600 meters by 1,100 meters, which is closely associated with gold and copper mineralization, both at the surface and within historical drill holes, Golden Sky noted.

Historical drill holes intersecting the geophysical anomaly revealed moderate to heavy fracturing with potassic, clay, epidote, and hematite alteration. The overprinted nature of alteration styles indicates multiple pulses of mineralized fluids occurred during a long-lived porphyry-style system, the company said.

Mineralization is present as primary sulfides (chalcopyrite, bornite, and chalcocite) and as secondary copper oxides (cuprite and malachite). The primary sulfides most commonly occur as fracture fills and along quartz veinlet margins and occasionally as interstitial disseminations. Secondary copper oxides tend to be present within fault zones, fractures, clay gouge, feldspar veinlet margins, and rarely as disseminations replacing mafic minerals. Native copper is commonly present with the primary sulfides. The copper grade correlates closely with the degree of fracturing/quartz veining and provides evidence for higher-grade "cores" at the Rayfield Zone.

'1,000 Kilometers of Mineral Potential'

A 2020 Resource World article by Ellsworth Dickson called the Quesnel Trough, also referred to as the Quesnel Terrane, "1,000 kilometers of mineral potential."

The geological arc of volcanosedimentary and intrusive rocks from the Triassic/Jurassic period is home to numerous alkalic copper-gold porphyry deposits, which often contain copper, gold, silver, and occasionally molybdenum, Dickson noted.

Stretching northwest for about 1,000 kilometers from the U.S. border in south-central British Columbia to near the Yukon border, the Quesnel Trough is Canada's longest mineral belt. Besides copper-gold porphyries, it is also recognized for various types of gold deposits.

JoAnne Nelson, a distinguished geologist with extensive expertise in British Columbia's terranes, told Discovery Alert's John Zadeh for a May 9 report: "The Stikine-Quesnel accretion created a unique metallogenic cocktail for Au (gold)-rich porphyries unlike almost any other region globally."

Zadeh noted the geological richness is further enhanced by key infrastructure benefits that boost the economic feasibility of mining activities, such as a skilled mining workforce of over 30,000 trained professionals with deep historical roots; abundant clean hydroelectric power, meeting about 90% of BC's electricity requirements; close proximity to Vancouver, a global mining finance hub with over 800 exploration companies; comprehensive road networks and port facilities offering logistical solutions; and year-round water availability for processing operations.

"The combination of exceptional geology and supportive infrastructure continues to attract major mining companies to the region despite increasing global competition for exploration capital," Zadeh wrote. "The ongoing mineral exploration importance cannot be overstated, as these deposits form the backbone of Canada's resource sector."

Newell noted that over the last 125-plus years, the province has built a reputation as one of the world's great mining jurisdictions. Operations like Teck's Highland Valley, New Gold's New Afton, Taseko's Gibraltar, and Imperial's Mount Polley form the foundation. However, he said, "Something new is happening."

"Behind the scenes, global miners are quietly securing ground, forming joint ventures, and placing bets on a new round of high-impact discoveries, many driven by juniors who've staked claims in underexplored, geologically rich zones," Newell told Streetwise Reports.

The Catalyst: Fluctuating Copper Prices

Copper prices have experienced significant fluctuations this year. The price of the metal reached a high of US$5.24 per pound on March 26, before dropping to US$4.05 per pound due to global trade tensions, according to a report by Sachin Patel for Open Markets on September 3. It then rebounded, hitting a new record of US$5.69 per pound on July 8, following the announcement of a planned 50% tariff on copper imports to the U.S.

However, prices fell again when it was clarified that the tariff would only apply to semi-finished copper products, not ore or refined copper. In the short term, uncertainties about demand strength and geopolitical instability are creating challenges for copper. In the long run, the metal could face a significant supply-demand imbalance as production declines and demand — driven by its use in green energy infrastructure and artificial intelligence (AI) — continues to rise.

Copper is an incredibly versatile and recyclable metal, often regarded as one of the most essential materials for humanity, as highlighted in a report by Minerals Make Life. Its use dates back thousands of years, and its unique characteristics have made it indispensable in modern society. Notably, copper is among the few metals with antibacterial properties, making it ideal for medical applications. Its ability to be recycled multiple times also makes it an environmentally friendly choice. Copper's malleability allows it to be formed into thin wires without breaking, and its excellent electrical and thermal conductivity makes it crucial for electrical components across various industries worldwide. Applications such as smart devices (including the one you're using now), building wiring, telecommunications, and electronics account for about three-quarters of global copper consumption.

What has recently drawn attention — and what experts believe could lead to a supply shortage — is copper's vital role in our energy future. The United States, European Union, and many other governments have set net-zero emissions targets, aiming to achieve them by 2050 with technologies that heavily depend on copper. Electric vehicles and their batteries, along with solar and wind power, rely on this fundamental metal of electrification. While internal combustion engines use about 23 kilograms of copper, hybrid vehicles require double that amount, and all-electric vehicles nearly quadruple it.

According to S&P Global's "The Future of Copper" report, copper demand is expected to double by 2035 and continue to grow thereafter. Between now and 2030, the U.S. copper market is projected to expand at a 6% compound annual growth rate, according to Grand View Research. Specifically, revenue is anticipated to reach US$19.7 billion by 2030, up from US$14.4 billion in 2024.

Ownership and Share Structure

According to Refinitiv, the institution, Crescat Capital, owns 11.91%. Individual investor John Newell holds 5.27%. The rest is retail.

The company has a market cap of CA$10.1 million with 19.8 million free float shares.

The 52-week range is CA$0.08 to CA$0.73.