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Stock code: AUEN; LCKYF, NEM, NG

Golden Sky Minerals Corp.'s stock rose nearly 20%, with an intraday trading volume of more than 43,000 shares, thanks to a drilling report on a property in Yukon.

With names like Bullseye, Luckystrike and Hotspot, we will forgive you for thinking this is a strong barbecue sauce review. In other words, Golden Sky Minerals Corp. (AUEN:TSX.V; LCKYF:OTC) announced some coveted drilling results on Hotspot Properties in Yukon on Thursday, pushing the stock up nearly 20%, intraday The trading volume exceeded 43,000 shares on November 18.

The buyer was triggered by the hole HS-21-02 on the Hotspot. The hole had an average of 0.85 grams of gold on 102 meters, and one of the delicious parts on 24.1 meters (2.97 grams/ton of gold) had a gold rating of 2.97 grams/ton. Ton. 

What’s more impressive is that the initial 102-meter interception contained a juicy 1.05-meter area with a gold rating of 42.4 g/ton-this news was discussed in the chat room on CEO.ca, thinking that Golden Sky Possibly a low-sulfide hyperthermal copper-gold porphyry system is being drilled.

A post by @engineer said: "19.25 million outstanding shares (sic) are in short supply.... I am glad to see the next loophole!"

In the next few weeks, Golden Sky will release the results of the remaining three holes in the 100%-owned Hotspot's preliminary four-hole 1,317-meter drilling plan completed earlier in the fall. A company spokesperson said that the laboratory said that the Hotspot drilling results will arrive more than a week ago.

Qualified personnel must review the results of the exercise before release. If the results are similar to those published on November 18, it may provide another catalyst for the stock price. 

"When I basically came to this company in December 2019, I said it went from $0.20 to $20 in six years or less. And I have always insisted on this," Golden Sky President and Chief Executive Officer Officer John Newell told Streetwise.

Newell pointed out that NOVAGOLD Resources Inc. (NG: TSX; NG: NYSE.MKT) and Rainy River Resources performed in a similar manner within a similar time frame.

By the end of this year, Kitty has about 3.5 million U.S. dollars left. However, there are still outstanding warrants of US$0.60 and US$0.80, with a total value of US$10 million. If these rights are exercised, Golden Sky will have approximately $13.5 million in funding in 2022.

Technical analyst Clive Maund reported that after drilling results reached the market, he bought Golden Sky on Thursday morning, causing AUEN to break the holding model that has been fixed since August (see below Six-month chart).

Maund’s analysis: “Although what seemed disappointing at first was that it lost most of its intraday gains before the close (November 18) and formed a clearly bearish'shooting star' candlestick, but this time it broke through high. The volume shows that it is real, so the deceptive decline of the retreat and accumulation line later in the day is considered to be nothing more than a signal of oversupply from those who “do not get a memorandum about the result”, and are a sign of oversupply. Performance sales are frustrated to higher prices, pushing it back down."

The one-year Golden Sky chart from StockCharts.com shows that there is more room for upside in the future (see chart below).

Maund wrote: "This year is very interesting, because it shows us that all the movements from May to yesterday's breakthrough constitute a cup and the bottom of the handle. Yesterday it began to break through this pattern."

He asserted: "It has not yet cleared the resistance at the top of the pattern, which is the reason for the late drop yesterday, but the impressive trading volume suggests that it will continue to do so soon."

He added: "After buying yesterday morning (November 18), we therefore hold long options. As long as the price is not higher than last night's closing price, we can buy on dips." 

In 2020, Golden Sky's discovery hole in Bullseye intersects with 1.34 grams/ton of gold at 72 meters, only 4.5 meters from the surface. The intercept includes a sweet spot of 6.09 meters and a gold grade of 7.72 g/ton.

The original plan used reverse cycle drilling, which was impossible to drill down. The 2021 drilling plan is the first to use a drill bit with a diamond drill bit.

Hole HS-21-02 is to test the anomalous western extension of the 600m x 400m gold soil outlined by Golden Sky in the Sure Bet area. The anomaly marks the southwestern end of the 1.6-kilometer soil-gold trend, which extends to the northeast and remains open there.

Cameron Dorsey, vice president of exploration at Golden Sky, said: "These results are really exciting because they demonstrate the existence of a near-surface gold-bearing system on the Hotspot property." 

In addition to Hotspot, Golden Sky also has Bullseye and Luckystrike projects in the Yukon.

The road to Newmont (NEM: NYSE) 5.1 million ounces (5.1 Moz) coffee gold project and Western Copper and Gold casino copper-gold porphyry project (5.72 Moz gold, 30.26 Moz silver, 3.58 billion pounds of copper)) in Golden Sky's Luckystrike asset is running next to it-the asset hasn't seen any work yet.

Newell stated that he is considering splitting Luckystrike and Bullseye into a new company, while keeping the Eagle Mountain gold project Hotspot located in the Cassiar district in northern British Columbia and the copper-gold project Rayfield in southern British Columbia in Golden Sky. Under the umbrella.

"That's what I have in my head now. I want to consolidate that area," Newell said. "To promote professional development, you must have a region, and you must have gold. This is what I work in the background."

Golden Sky's 52-week trading range is US$0.28 to US$0.80, with approximately 19.2 million shares outstanding.

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