SITKF - Sitka Drills 40 feet of 0.41 g/t Gold at Alpha Gold Nevada
(TheNewswire)
VANCOUVER, CANADA - TheNewswire - September 16, 2021 - Sitka Gold Corp.(“Sitka” or the “Company”) (C NSX :SIG. CN ) (FSE:1RF) (OTC:SITKF) ispleased to provide an update on the drill program currently underwayat its Alpha Gold Project (“Alpha Gold” or the “Project”)located at the southeast end of the Cortez Trend in northern Nevada. This phase of drilling is designed to test southeastward extensionsof the Carlin-Type gold system that was identified earlier this yearin holes AG21-02 & 03. AG21-08, the fifth hole of the summerdrill program, is currently in progress. All of the holes haveencountered strong silicification, decalcification, and pyrite in thelower Horse Canyon Equivalent and upper Devils Gate Limestone, exceptAG21-05 which was lost in the Horse Canyon Equivalent unit as it wentinto the target zone. AG21-04, 06, and 08 have encounteredsignificant dike or sill zones with associated strong silica, clay,pyrite, and sooty pyrite in both the dikes/sills and wall rocks. Drilling is clearly testing a strong Carlin-type alterationsystem.
Assay and geochemical results have been received forAG21-04 and 05. AG21-04, collared 510 metres (1,673 feet) southeastof AG21-02 (Figure 1), intersected strong intervals of jasperoid,decalcification, silicified mudstone, and skeletal silica afterdecalcified limestone in the Horse Canyon equivalent unit anduppermost Devils Gate Limestone. From 735 to 950 feet (224 to 290metres) the hole encountered a set of dikes or sills not evident onsurface. Sample intervals contained up to 25% pyrite and sootypyrite in both the dike rocks and silicified and decalcified, mudstoneand limestone wall rocks. This zone spanned the Horse CanyonEquivalent to Devils Gate contact. The interval had anomalous goldwith a high of 0.13 g/t and averaged 622 ppm arsenic over 215 feet (66metres). Peak pathfinder values included 3580 ppm arsenic, 22.7 ppmmercury, 185 ppm antimony, and 52.1 ppm thallium. These results andthe associated alteration are much stronger than anything seen onsurface and are very strong representations of a Carlin-typealteration system.
AG21-05 stepped out 910 metres (2,986 feet) south ofAG21-04 to continue testing the extensions of the target zone relatedto surface alteration. The hole encountered highly fractured rockrelated to faulting throughout its entire length in the Devonian Shaleand then hit karst cavities below. This resulted in the drill pipebecoming stuck for part of a shift and ultimately the hole wasabandoned at 430 feet (131 metres). The last 40 feet (12.19 metres)of the hole averaged 0.41 g/t gold going into the upper part of theHorse Canyon Equivalent unit (Figure 2). Strong Carlin-Typepathfinder element concentrations occurred throughout much of thehole. Peak values included 502 ppm arsenic, 3.76 ppm mercury, 544ppm antimony, and 10.4 ppm thallium. AG21-07 has subsequently testedthe Horse Canyon Equivalent and upper Devils Gate limestone from thesame pad, encountering strong silicification, decalcification andpyrite through the target horizon. AG21-06 tested the Horse CanyonEquivalent to Devils Gate contact 560 meters (1,837 feet) to the southof AG21-05 and cut a significant zone of jasperoid and decalcificationin the target horizon. Drilling continues at this time on holeAG21-08 which is cutting a silica, clay, pyrite altered dike zone inthe Devonian Shale unit above the stratigraphic target horizon.
Cor Coe, P.Geo., Director and CEO of Sitka Gold stated, “Results atAlpha Gold continue to demonstrate the potential for a Carlin-Typegold deposit to be hosted within the Project area. While hole AG21-05was lost just as it was entering the targeted horizon, the resultsreceived from the bottom of this hole showed increasing gold valuesand produced our best gold intercept to date. AG21-07 was successfulin testing through the targeted horizon from the same pad as AG21-05(see Figure 2) so we are quite excited to see what the results fromthat hole will bring along with the rest of our pending assays.Drilling is currently underway on hole AG21-08 as we continue tosystematically pursue the most probable high-grade zones of thisCarlin-type gold system.”
Figure 1: Drill Collar Location
Figure2: Cross Section A-A’
Geology, alteration, gold assays, and extremely highCarlin pathfinder element values indicate this drilling is testing avery strong Carlin-type gold system. The situation remains that thetarget area is very large, and the target relatively blind with onlycryptic surface alteration and mineralization leakage patterns toguide this early drill targeting. A wealth of targets remain to betested including laterally along newly recognized fault and dike/sillstructures as well as additional prime host rocks of the Denay andMcColley Canyon formations down section. Testing the McColley CanyonFm would be analogous to testing the Wenban 5 in the Goldrush area. Understanding of the geology at Alpha Gold is advancing and evolvingrapidly and plans are to conclude this phase of drilling and compileinformation after AG21-08 has been completed through its target zoneinto the upper Devils Gate limestone. Assays are currently pendingfor AG21-06 through 08.
QualityAssurance/Quality Control
Analytical work for this drill program was carried outby ALS Global in Reno, Nevada while the sample preparation wascompleted by ALS Global in Elko, Nevada. All samples were fire assayedfor Gold with AA finish and over-limits re-analysed gravimetricallywhere applicable. Additionally, all samples were analysed by ICP-MSfor 51 trace element geochemistry.
The Company has a rigorous QAQC program in place inaddition to QAQC procedures at the lab. Each batch of 20 samplescontains one certified Standard Reference Material, one certifiedBlank and one duplicate. All results have passed the QAQC screeningat the lab.
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 Project is comprised of 2 claim blocks totalling 114lode claims covering an area of approximately 2280 acres (923hectares) and is accessible via a dirt road, approximately 2km west ofNevada State Highway 278.
The Project 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.
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 project 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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