SITKF - Drill Mobilized to Sitka's Alpha Gold Project in Nevada
(TheNewswire)
VANCOUVER, CANADA – TheNewswire - February 12, 2021 - Sitka Gold Corp.(“Sitka” or the “Company”) (CSE:SIG) (FSE:1RF) (OTC:SITKF) (CNSX:SIG.CN) is pleased to announce that a drill has been mobilized to theCompany’s Alpha Gold Project, located at the southeast end of theCortez Trend approximately 40km southeast of the Barrick/NewmontCortez Hills gold mine. The Company is permitted for a total of 16drill sites across the Alpha Gold Project to follow up on updatedgeological mapping in its search for a buried Carlin-Type gold depositalong the Cortez Structural Trend (Figure 1). The geologicalinformation gained from drill hole AG20-01, completed last summer,enables this second drill hole to be collared much deeper in thestratigraphy, thereby increasing the likelihood of successfullyreaching the Webb/Devil’s Gate Formation Lower Plate Limestonecontact at a reasonable depth (Figure 3). Furthermore, rock chip andsurface geochemistry anomalous in gold and arsenic suggests upwardmigration of mineralized fluids along local faults, suggesting thepresence of a gold system at depth (Figure 3).
Key updated geological highlights are as follows:
-
- Surface geochemistry up to 1.2ppm gold and 7000 ppm arsenic shows a crude E-W trend, coincident withan E-W anticline axis in highly oxidized lower plate and basal AntlerForeland rocks
- The E-W folding deforms older, more regional N-Sfolding, creating a fluid focus
- There is evidence the lower plate window, west of thetarget, may have unroofed during the Antler orogeny, and remainedelevated and oxidizing through much of its pre-Eocene history,removing primary pyrite and carbon from shallow host rocks and fluidconduits, thus diminishing their gold capture qualities during theEocene mineralization event
- The target model is potentially analogous to thescenario around Goldrush, in the Cortez District, where gold depositsin shallow unroofed areas tend to be low grade (Horse Canyon), anddeeper gold deposits in the same strata in areas that were neverunroofed are high grade (Goldrush, Fourmile)
- The E-W fold axis and late normal faulting make thisan ideal location to test the lower plate to foreland clastictransition beneath rapidly eastward thickening Antler Foreland basinrocks where early oxidation has not compromised the host rocks
- Additional comparisons are possible between thereverse fault indicated by mapping here and the Abyss fault at thePipeline deposit
CEO and Director of Sitka Gold, Cor Coe, P.Geo.,commented, “We are very excited to kick off the 2021 explorationseason with follow-up drilling at our Alpha Gold project. This nextdrill hole will be collared much deeper in the stratigraphy and we areexpecting to reach the contact zone at a much shallower depth thanwhat was anticipated for AG20-01. With last year’s explorationresults confirming our geological model and Alpha Gold’s idealgeological setting along the 50-million ounce Cortez Trend (1) ,management believes there is excellent potential for the discovery ofa new Carlin-type gold deposit. ”
Figure 1 - Alpha Gold Claim Block Locations
Figure 2 - Alpha Gold TargetLocations
Figure 3 - Alpha Gold Regional CrossSection & Initial Drill Hole Location
About AlphaGold
Sitka Gold has acquired a 100% interest in the AlphaGold Project, located along the southeast projection of the prolificCortez Gold Trend in Eureka County, approximately 135 kilometressouthwest of Elko, Nevada. The Property is comprised of 2 claim blockstotaling 77 lode claims covering an area of approximately 1540 acres(623 hectares) and is accessible via a dirt road, approximately 2kmwest of Nevada State Highway 278.
The Property was initially staked after the locationwas recognized as the intersection of the regional-scale Pine Valleyanticline with northeasterly fold trends exposed in the RobertsMountains. Of primary importance at the Alpha Gold location is thatthe rocks have been down-dropped significantly by late extensionalfaulting. Prior to extension, and during the critical 36-42 MaCarlin-type mineralization event, the fold crest at Alpha Gold wouldhave been a regional highpoint among nearby mountain ranges. Wellexposed ‘lower plate windows’ near Alpha Gold have beenextensively explored for Carlin-type gold deposits with a number ofdeposits found along the limbs.
( 1 ) www.carlingold.com
About Sitka Gold Corp.
Sitka Gold Corp. is a mineral exploration companyheadquartered in Canada and managed by a team of experienced miningindustry professionals. The Company is focused on exploring foreconomically viable mineral deposits with its primary emphasis ongold, silver and copper mineral properties of merit. Sitka currently has an option to acquire a 100%interest in the RC, Barney Ridge, Clear Creek and OGI properties inYukon and the Burro Creek Gold property in Arizona. Sitka owns a 100%interest in its Alpha Gold property in Nevada, it’s Mahtin Goldproperty in the Yukon and it’s Coppermine River project in Nunavut.Directors and Management own approximately 15% of the outstandingshares of Sitka Gold Corp., a solid indication of their alignment withshareholders’ interests.
The scientific and technical content of this news release has beenreviewed and approved by Cor Coe, P.Geo., Director and CEO of theCompany, and a Qualified Person (QP) as defined by National Instrument43-101.
ON BEHALF OF THE BOARD OF DIRECTORS OF
For more information contact:
President & Director
778-212-1950
dpenner@sitkagoldcorp.com
or
CEO & Director
604-817-4753
ccoe@sitkagoldcorp.com
or
Peter MacLean
Director
604-781-8513
petergmaclean@hotmail.com
Cautionary and Forward-Looking Statements
This news release containsforward ? looking statements and forward ? looking information within the meaning of applicable securities laws.These statements relate to future events or future performance. Allstatements other than statements of historical fact may beforward ? looking statements or information.Forward ? looking statements and information areoften, but not always, identified by the use of words such as“appear”, “seek”, “anticipate”, “plan”,“continue”, “estimate”, “approximate”, “expect”,“may”, “will”, “project”, “predict”, “potential”,“targeting”, “intend”, “could”, “might”, “should”,“believe”, “would” and similar expressions.
Forward-looking statements andinformation are provided for the purpose of providing informationabout the current expectations and plans of management of the Companyrelating to the future. Readers are cautioned that reliance on suchstatements and information may not be appropriate for other purposes,such as making investment decisions. Since forward ? looking statements and information address future events andconditions, by their very nature they involve inherent risks anduncertainties. Actual results could differ materially from thosecurrently anticipated due to a number of factors and risks. Theseinclude, but are not limited to, the expected timing and terms of theprivate placement, use of proceeds, anticipated work program, requiredapprovals in connection with the work program and the ability toobtain such approvals. Accordingly, readers should not place unduereliance on the forward ? looking statements,timelines and information contained in this news release. Readers arecautioned that the foregoing list of factors is not exhaustive.
The forward ? looking statements and information contained in this news releaseare made as of the date of this news release and no undertaking isgiven to update publicly or revise any forward ? looking statements or information, whether as a result of newinformation, future events or otherwise, unless so required byapplicable securities laws or the CSE. The forward-looking statementsor information contained in this news release are expressly qualifiedby this cautionary statement.
Neither the CSE nor its Regulation Services Provider (as that term isdefined in the policies of the CSE) accepts responsibility for theadequacy or accuracy of this release. No stock exchange, securitiescommission or other regulatory authority has approved or disapprovedthe information contained herein.
Copyright (c) 2021 TheNewswire - All rights reserved.