SITKF - Sitka Begins Mobilization for Next Phase of Drilling at Its Alpha Gold Project in Nevada
(TheNewswire)
VANCOUVER, CANADA - TheNewswire - June 22, 2021- Sitka Gold Corp. (“Sitka” or the “Company”) (C NSX :SIG. CN ) (FSE:1RF) (OTC:SITKF) ispleased to announce that it has begun mobilizing crew and equipment inpreparation for the upcoming drilling program atthe Company’s Alpha Gold Project, located at the southeast end ofthe Cortez Trend approximately 40km southeast of the Barrick/NewmontCortez gold mine complex. O’Keefe Drilling, an experienced andhighly regarded drill contractor, has been secured to conduct thisnext phase of drilling. The Company amended its drill permit to allowfor drilling an additional six sites to follow up on newly discoveredstrong Carlin-Type alteration southeast of drill holes AG21-02 &03. These two discovery holes intersected long intervals of anomalousgold and very strong pathfinder elements known to be associated withCarlin-type gold deposits (see Sitka news releases dated May6 th & 21 st , 2021). Sitka intends to drill a minimum of 1,500 metres inthis initial follow up phase.
The six new drill sites have been selected to test thecritical Horse Canyon equivalent to Devils Gate Formation contact atdepth in the vicinity of the strongest surface alteration southeast ofAG21-02 and AG21-03 (Figure 1). The sites also provide maximumflexibility for angle hole testing of multiple structures andstructural intersections that carry strong Carlin-type pathfinderelement concentrations. Results from rock chip sampling in May havejust been received and are now being utilized in drill targeting. The rock chip results confirm that the extensive surface alterationcarries strong Carlin pathfinder values across the entire 5 km strikelength of the inferred targets including peak values to 2150 ppm As,4.92 ppm Hg, and 144 ppm Sb.
Cor Coe, PGeo., CEO and Director of Sitka Gold states,“We are excited to begin this next phase of exploration at AlphaGold concurrent with our ongoing drill program at RC Gold in Yukon. Results from drill holes AG21-02 & 03 indicate that we are onthe fringe of a Carlin-type gold system and this next phase ofdrilling is designed to vector into the high-grade zones of thissystem”.
Figure 1 - Alpha Gold Project PlannedDrill Hole Locations
About Alpha Gold
Sitka Gold has acquired a 100% interest in the Alpha Gold Project,located along the southeast projection of the prolific Cortez GoldTrend in Eureka County, approximately 135 kilometres southwest ofElko, Nevada. The Property is comprised of 2 claim blocks totalling114 lode claims covering an area of approximately 2280 acres (923hectares) and is accessible via a dirt road, approximately 2km west ofNevada State Highway 278.
The Property was initially staked after the location was recognized asthe intersection of the regional-scale Pine Valley anticline withnortheasterly fold trends exposed in the Roberts Mountains. Of primaryimportance at the Alpha Gold location is that the rocks have beendown-dropped significantly by late extensional faulting. Prior toextension, and during the critical 36-42 Ma Carlin-type mineralizationevent, the fold crest at Alpha Gold would have been a regionalhighpoint among nearby mountain ranges. Well exposed ‘lower platewindows’ near Alpha Gold have been extensively explored forCarlin-type gold deposits with a number of deposits found along thelimbs.
Yukon RC Gold Project DrillingUpdate
The Company is pleased to announce it has completed its first drillhole at its road accessible RC Gold Project, located approximately 110kilometres east of Dawson City, Yukon, and the drill core has beenlogged and sent to the lab. This first drill hole went to a depth of353.4 metres and was located in the vicinity of last year’s DDRCCC#002 which returned 0.82 g/t gold over 100.8 metres and bottomed in anadditional intersection of 16.1 g/t gold over 2.0 metres (see newsreleases dated November 23, 2020 and December 16, 2020). Drilling iscontinuing at the Project as part of a planned 10,000 metre drillprogram primarily focused on expanding the extent of goldmineralization discove red at theSaddle-Eiger Zone where significant widths of gold mineralization wereintersected during Sitka’s inaugural drilling program conducted in2020 (see news releases dated June 8, 2020, December 16, 2020,November 23, 2020 and October 15, 2020).
About Sitka Gold Corp.
Sitka Gold Corp. is a mineral exploration company headquartered inCanada that is fully funded for its planned 2021 exploration programswith the recent completion of a $6.37 million financing. The Companyis managed by a team of experienced industry professionals and isfocused on exploring for economically viable mineral deposits with itsprimary emphasis on gold, silver and copper mineral properties ofmerit. Sitka currently has an option to acquire a 100% interest in theRC, Barney Ridge, Clear Creek and OGI properties in Yukon and theBurro Creek Gold property in Arizona. Sitka owns a 100% interest inits Alpha Gold property in Nevada, it’s Mahtin Gold property in theYukon and it’s Coppermine River project in Nunavut.
The scientific and technical content of this newsrelease has been reviewed and approved by Cor Coe, P.Geo., Directorand CEO of the Company, and a Qualified Person (QP) as defined byNational Instrument 43-101.
ON BEHALF OF THE BOARDOF DIRECTORS OF
For more information contact:
President & Director
604-979-0509
dpenner@sitkagoldcorp.com
or
CEO & Director
604-979-0509
ccoe@sitkagoldcorp.com
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