VANCOUVER, BC, Sept. 21, 2026 /CNW/ -- Goldsky Resources Corp (TSXV: GSKR) (FNSE: GSKR SDB) (OTCQX: GSKRF) (FRA: HEG0) ("Goldsky Resources" or the "Company") is pleased to announce positive metallurgical test work results from gravity concentration and cyanide bottle-roll leach testing completed on composite samples from the Central and Avan ore bodies at its 100%-owned Barsele gold project in Sweden. The test work, carried out at Alfred H Knight Laboratory in Cornwall, United Kingdom, forms part of the metallurgical program supporting the Preliminary Economic Assessment ("PEA") for Barsele.
Summary
Testwork was conducted on a composite sample weighing 77.6kg for the Avan deposit and 78.7kg for the Central deposit across a depth range of 5-215 metres. Applying the industry benchmark of a 98% intensive leach gold recovery on the gravity concentrate, together with the gold leach extraction achieved on the gravity tailings, the test work returned overall mass balance gold recoveries of 89.6% for the Central composite sample and 90.8% for the Avan composite sample.
Russell Bradford, CEO & Director, commented: "These results confirm that Barsele mineralization responds well to a conventional gravity-cyanidation flow sheet, with overall gold recoveries in the range of 90% for both the Central and Avan ore bodies. "
"The metallurgical characteristics identified to date support continued advancement of the Barsele PEA and lay the groundwork for an optimisation metallurgical testwork program which will improve both leach recoveries and reagent consumptions."
Gravity Concentration Test Work
A 20-kilogram sample was milled to 80% passing 75 microns and processed through a Falcon L40 centrifugal gravity concentrator. The gravity concentrate was upgraded on a Mozley Superpanner to a concentrate mass of 0.05% to 0.08%, with the combined Falcon and Mozley tails carried forward as feed to the bottle-roll gold leach tests. Gravity gold recoveries of 30.2% for the Central composite sample and 27.7% for the Avan composite sample were achieved. Gravity gold recoveries above 20% are indicative of gravity-recoverable gold within the ore.
Gold Leach Test Work
Cyanide bottle-roll leach tests were conducted in duplicate on the gravity tailings under the following conditions: a grind of P80 75 microns; aeration to a dissolved oxygen level of 8 ppm; a 48-hour residence time; and a sodium cyanide concentration of 1 g/l, with kinetic solution sampling at 2, 4, 8, 12, 18, 24, 32 and 48 hours to monitor pH and free cyanide. Gold leach extraction of 86.0% for the Central composite sample and 88.1% for the Avan composite sample was achieved at acceptable leach test accountabilities. Cyanide consumption was approximately 0.75 kg/t and lime consumption was below 0.5 kg/t. Leach kinetics under air aeration were fast and plateaued at 12 hours, indicating that a 24-hour residence time will be sufficient to complete gold dissolution. Silver grades in the gravity tails were notably higher than gold grades.
Goldsky Resources contracted Alfred H Knight Mineral Processing UK Limited (AHK) in Cornwall to conduct PEA level metallurgical test work on Barsele ore samples that were delivered on 16th July 2026. AHK recorded and weighed the core samples from Avan, Central, and the comminution samples on delivery. The bottle roll leach tests were performed in duplicate, and the products from the reported leach tests were sent to the SAEL Assay Laboratory, which is ISO 17025 accredited. The masses of products were recorded in the AHK digital sample tracking system, with all products labelled, which can be referenced again for rechecking.
The gold leach tests are interim results whilst metallurgical test work continues on the Barsele ore samples at AHK. All the test work undertaken by AHK with the recorded results will be described in detail in the PEA Technical Report with the QA/QC. Russell Bradford, the CEO of Goldsky Resources, inspected the laboratory on the 5th of August 2026.
Next Steps
The flow sheet developed through the PEA test work will be further optimized ahead of a Pre-Feasibility Study ("PFS") through additional test work, including: Plant gravity testing to improve gravity recovery in the coarser size fractions and simulate the configuration of the gravity circuit; evaluation of grind size versus gold leach recovery; assessment of the effect of pre-aeration with Oxygen addition on cyanide consumption; test work to increase silver leaching kinetics; carbon equilibrium testing to assess the effect of silver on gold adsorption; cyanide detoxification test work to inform reagent consumption for operating cost estimates; and settling test work to determine thickener sizing parameters.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by Glenn Bezuidenhout, Senior Process Consultant and Director of GB Independent Consulting (Pty) Ltd and Fellow of the SAIMM, a "Qualified Person" as defined by National Instrument 43-101.
About Goldsky Resources Corp.
Goldsky Resources is a publicly listed gold exploration company, consolidating assets in Sweden and Finland. The Company's flagship asset is the 100% owned Barsele gold project in central Sweden. Barsele is host to an Indicated Mineral Resource of 7.88 Mt grading 1.27 g/t Au containing 0.32 oz Moz Au and an Inferred Mineral Resource: 28.75 Mt grading 1.98 g/t Au containing 1.83 Moz Au.
Goldsky Resources owns a district-scale license position surrounding Barsele totalling approximately 80,000 hectares on Sweden's Gold Line greenstone belt comprised of two additional projects (Paubäcken, Storjuktan).
Additionally, in central Finland, Goldsky Resources is the 100%-owner of a district-scale position covering the entire underexplored Oijärvi greenstone belt, including the Kylmäkangas deposit, the largest known gold occurrence on this belt. Goldsky Resources is also the 100% -owner of the Rajapalot gold cobalt project situated in northern Finland, which has an Inferred Resource of 9,780kt containing 867 koz Au @ 2.8 g/t Au & 4.3 kt Co @ 441 ppm Co (NI 43-101 Technical Report ON A Preliminary Economic Assessment Of The Rajapalot Gold-Cobalt Project, Finland. Effective Date: 19 December 2023. Prepared for Mawson Finland Ltd by SRK Consulting (UK) LTD. SRK Qualified Person Christopher Bray Beng (Mining), MAusIMM(CP), Ove Klaver, MSc (Geology), Eur.Geol., Eemeli Rantala, MSc (Geology), P.Geo., Craig Brown, B.E. (Chem), GradDipGeosci, FAusIMM, Mathieu Gosselin, Beng (Mining), P.Eng.).
This information was submitted for publication, through the agency of the contact person set out below, on September 21, 2026, at 8:00 a.m. Eastern Time.
ON BEHALF OF THE BOARD OF DIRECTORS
Russell Bradford,
CEO & Director
For further information contact:
Investor Relations
Neil MacRae
SVP, Corporate Development
ir@goldskyresources.com
Phone: 778-999-4653
Tavistock PR (media contact)
Jos Simson/Saskia Sizen
goldskyresources@tavistock.co.uk
The Company's certified adviser on the Nasdaq First North Growth Market is Augment Partners AB, info@augment.se, +46 8-604 22 55
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Forward-looking Information:
This news release contains forward-looking statements that reflect the Company's intentions, beliefs, or current expectations about and targets for the Company's future results of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company operates. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "intend", "may", "plan", "estimate", "will", "should", "could", "aim" or "might", or, in each case, their negative, or similar expressions. The forward-looking statements in this news release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that they will materialize or that the assumptions on which they are based are correct. Because these statements are based on assumptions or estimates and are subject to risks and uncertainties, the actual results or outcome could differ materially from those set out in the forward-looking statements as a result of many factors. Such risks, uncertainties, contingencies, and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The Company does not guarantee that the assumptions underlying the forward-looking statements in this news release are free from errors and readers of this news release should not place undue reliance on the forward-looking statements in this news release. The information, opinions and forward-looking statements that are expressly or implicitly contained herein speak only as of the date of this news release and are subject to change without notice. Neither the Company nor anyone else undertake to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this news release, unless it is required by law or applicable exchange rules.
SOURCE Goldsky Resources Corp.
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