SITKF - Sitka Identifies New Target and Stakes Additional Claims at its Alpha Gold Property in Nevada
(TheNewswire)
VANCOUVER, CANADA – TheNewswire - December 30,2020 - Sitka Gold Corp. (“Sitka” or the “Company”) (CSE:SIG) (CNSX:SIG.CN) (FSE:1RF) (OTC:SITKF) ispleased to announce it has identified a new Carlin-type gold deposittarget and staked additional claims at its Alpha Gold Property inNevada.
Since drill hole AG-01 was completed in July 2020 (seenews release dated July 24, 2020), further geological mapping wascarried out using improved stratigraphic information obtained from thedrill hole to gain increased resolution on local structural trends.This has enabled the Company to identify an additional prospectivestructure where a drill hole can be collared deeper in thestratigraphic section to potentially intersect the Lower PlateLimestone at a much shallower depth and test a Carlin-type golddeposit target (Figure 1). Twenty-seven additional claims weresubsequently staked to the NW of the present Alpha claim block tocover the new Carlin-type gold deposit target (Figures 2 & 3).
The following are some key points regarding the newtarget:
-
- Surface geochem to 1.2 ppm gold and 7000 ppm arsenicshows a crude E-W trend, coincident with an E-W anticline axis inhighly oxidized lower plate and basal Antler Foreland 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
“The geological information obtained from the firstdeep drill hole to ever be completed at our Alpha Gold property,located in Nevada’s Carlin Gold Province, provided crucial andpreviously unknown details regarding local structural trends andultimately resulted in the identification of this new target”,commented Cor Coe, CEO and Director of Sitka. “With this expandedland package, enhanced geological modelling and an additional targetat Alpha, we feel the probability of success at Alpha has been significantly increased. The Company intends to commencedrilling this new target once drill permits for the expanded landpackage have been received. We expect to receive our permit to drillwithin the next two weeks”.
Figure 1 - Alpha Gold Regional Cross Section
Figure 2: Alpha Gold TargetAreas
Figure 3 - Newly Staked Claim Block
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 blockstotalling 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.
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 currentlyhas an option to acquire a 100% interest in the RC, Barney Ridge,Clear Creek and OGI properties in Yukon and the Burro Creek Goldproperty in Arizona. Sitka owns a 100% interest in its Alpha Goldproperty in Nevada, it’s Mahtin Gold property in the Yukon andit’s Coppermine River project in Nunavut. Directors and Managementown approximately 15% of the outstanding shares of Sitka Gold Corp., asolid indication of their alignment with shareholders’interests.
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
778-212-1950
dpenner@sitkagoldcorp.com
or
CEO & Director
604-817-4753
ccoe@sitkagoldcorp.com
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