The diamond core drill hole reported today had intervals of 4.9m grading 8.1 grams per tonne gold from 92m and 5m at 9.7gpt from 233m, with the true width of the mineralisation currently unknown.

Hume is part of the Cullarin exploration project near Goulburn.

Other targets set to be drilled or further tested in coming weeks are Hamilton and Caledonian.

The Sky exploration team (including managing director Rimas Kairaitis) has previous experience with the McPhillamys deposit in the region containing 69 million tonnes grading just over 1gpt for circa 2 million ounces.

That project is being worked on by gold miner Regis Resources, which bought the deposit in 2012 for about $150 million and which according to its owner in 2017, had a net present value of about $800 million, using an $1800/oz gold price.

Sky started the current quarter with $9.4 million cash.

Shares in the Norm Seckold-chaired Sky were unchanged at 22.5c in midday trade, capitalising the company at $68 million.