SIG:CC - Sitka Gold Provides Update on Drilling at its Alpha Gold Project in Nevada
(TheNewswire)
VANCOUVER, CANADA – TheNewswire - July 07, 2022: Sitka Gold Corp. (“Sitka''or the “Company”) (CSE:SIG) (FSE:1RF) (OTCQB:SITKF) is pleased to provide an update on itsrecently initiated drill program at the Company’s Alpha Gold Project(“Alpha Gold” or the “Project”), located at the southeast endof the Cortez Trend approximately 40 kilometres southeast of theBarrick/Newmont Cortez gold mine complex in Nevada.
AG22-09 and 10 have both now defined a new zone ofstrong alteration in a North to NNW structure. Both holes hit strongsilicification in Horse Canyon equivalent stratigraphy with zones of 5- 10+ percent pyrite, including dark, discolored, potentiallyarsenic-rich pyrite. Originally calcareous rocks near the fault zoneare decalcified to completely karsted. AG22-10 encountered an 11.5metre cavity. Drill results in combination with surface mappingindicate significant offset on this fault along at least two strands. AG22-10 started in the footwall of the fault and tested alteredHorse Canyon equivalent there from 149 to 175 metres. The hole thencrossed the fault into the down-dropped hanging wall and is now in arepeated section of strongly silicified, decalcified, pyritic HorseCanyon stratigraphy from about 232 metres. The hole remains inprogress with the objective of reaching the upper Devils GateLimestone.
“ Drilling atAlpha Gold continues to rapidly advance our knowledge of theCarlin-type gold system we discovered last year ,” stated Cor Coe, P.Geo., CEO and Director of Sitka.“ Visual observation of thenew structural zone intersected in holes AG22-09 and -10 has us veryexcited as it appears to be the primary mineral control at Alpha Goldwith the most robust alteration and Carlin-type mineralizationobserved to date. We eagerly await the results from these drill holesas we continue to vector toward the high-grade core of thisCarlin-type gold system .”
Shallower depths to the Horse Canyon equivalent unitconfirm that this structure lies closer to the Alpha anticline axis. AG22-09 hit the target stratigraphy at 113 metres, and AG22-10 hitit at 149 metres, compared to 335 metres in AG21-08, farther east. Alteration encountered thus far in 2022 has been very robust,emphasizing the importance of this new structural zone and the companylooks forward to receiving the assay results. All samples forAG22-09 and samples to 247 metres in AG22-10 have been delivered toALS Global Labs in Elko, Nevada for analysis.
Increased alteration, greater offset, and proximity tothe anticlinal crest suggest that the structure presently being testedmay be the primary mineral control and the eastern structure testedlast year by AG21-08 may be secondary. It alsoappears that AG21-06, the weakest hole in the area was well into thefootwall of both structures and off target where it tested the HorseCanyon equivalent strata. Mineralization is believed to continuesouthward, west of that hole. Upon completion of AG22-10, the nexthole will be a 950-metre southward offset to test the new structuralzone near the next major E-W cross-structure (Figure 1). Confidencefor this aggressive offset comes from a better understanding of themineralization controlling fault system and definition of theanticline crest, both of which appear to be farther west thanpreviously thought. The proposed hole will be drilled WSW, shouldhave a favorable angle to bedding and is anticipated to hit the HorseCanyon equivalent unit at a depth of about 350 metres.
Figure 1 – Location ofDrill Holes -05 to -10 and Proposed Hole AG22-11
The Company is very excited to be continuing itsexploration efforts at Alpha Gold, where drilling completed in 2021discovered a new Carlin-type gold system. Valuable knowledge gainedfrom the previous drill campaigns, along with additional mapping andother recent information gathered in the area, have been incorporatedinto the latest generation of priority drill targets for this currentphase of exploration. All previous holes drilled to date haveintersected gold mineralization associated with strong Carlin-Type pathfinder elements in a zone of strongalteration at surface that extends for approximately 7 kilometresalong major fold structures that have been mapped in the area. Sitkaintends to drill a minimum of 1,500 metres during this phase ofexploration.
About Alpha Gold
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 Project is comprised of 1 claim blocktotaling 239 lode claims covering an area of approximately 4,780 acres(1,934 hectares) and is accessible via a dirt road, approximately 2 kmwest of Nevada State Highway 278.
The Project was initially staked after the location wasrecognized as the intersection of the regional-scale Pine Valleyanticline with northeasterly fold trends exposed in the RobertsMountains. Overprinting NNW folds coincident with the projection ofthe Cortez Trend were subsequently recognized and found to beimportant alteration and mineralization controls. 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.
Three drill programs totaling 2604 meters in 8 holeshave been completed at Alpha Gold since its acquisition and haveadvanced the Property from an undrilled geologic concept with asurface alteration and pathfinder element anomaly, to a largewide-open Carlin-type gold system with thick, low-grade goldintercepts, from wide-spaced drilling.
About Sitka Gold Corp.
Sitka Gold Corp. is a well-funded mineral exploration companyheadquartered in Canada. The Company is managed by a team ofexperienced industry professionals and is focused on exploring foreconomically viable mineral deposits with its primary emphasis ongold, silver and copper mineral properties of merit. Sitka currentlyhas an option to acquire a 100% interest in the RC, Barney Ridge,Clear Creek and OGI properties in the Yukon and the Burro Creek Goldproperty in Arizona. Sitka owns a 100% interest in its Alpha Goldproperty in Nevada, its Mahtin Gold property in the Yukon and itsCoppermine River project in Nunavut.
Sitka currently has three diamond drill rigs operating at its RC GoldProject in the Yukon where it is focused on step out drilling at thenewly discovered Blackjack Zone (see news release dated December 13,2021) and to date has completed 12 drill holes in 2022 totallingapproximately 3600 metres. Drilling is also currently underway at theCompany’s Alpha Gold Property in Nevada where up to 1500 metres ofdrilling is planned.
*For more detailed information on Sitka and itsunderlying properties please visit www.sitkagoldcorp.com
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 BOARD OF DIRECTORS OF
SITKA GOLD CORP.
“ DonaldPenner ”
President and Director
For more information contact:
Donald Penner
President & Director
778-212-1950
dpenner@sitkagoldcorp.com
or
Cor Coe
CEO & Director
604-817-4753
ccoe@sitkagoldcorp.com
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