SITKF - Sitka Intersects Target Zone at Alpha Gold Nevada
(TheNewswire)
VANCOUVER, CANADA – TheNewswire - March 10, 2021- Sitka Gold Corp. (“Sitka” or the “Company”) (CSE:SIG) (CNSX:SIG.CN) (FSE:1RF) (OTC:SITKF) is pleased to provide an update on the progress of its 2021drill program currently underway at the Alpha Gold Project (“AlphaGold” or the “Project”), located at the southeast end of theCortez Gold Trend, approximately 40km southeast of the Barrick/NewmontCortez Hills gold mine, in Nevada’s prolific Carlin Province(Figures 3 & 4). Two additional drill holes (AG21-02 and AG21-03)have been completed since mobilization to the Project site commencedmid-February. Sitka is pleased to report that each of these drillholes have successfully intersected the Webb/Devil’s Gate contactzone where mineralization consistent with Carlin-type gold depositswas encountered. Carlin-type gold deposits are known to occur at thiscontact zone, below the Webb Formation at the top of the Devil’sGate Formation, and this is the first time this highly coveted targethorizon has been intersected at the Alpha Gold Project.
Cor Coe, CEO and director of Sitka, comments, “Havingintersected this target horizon at what is considered to be a veryattractive, minable depth further supports our modeling andstrengthens our position that Alpha Gold has the geologicalrequirements necessary to host a large, Carlin-type gold deposit. Thelimestone encountered through the target horizon was highly alteredand is considered to be excellent host rock with mineralization thatis analogous to existing gold deposits along the Cortez Trend and morespecifically the Goldrush deposit, approximately 40km to thenorthwest. We are eagerly awaiting the assay results from these drillholes.”
AG21-02 and AG21-03 were drilled about 8 km northwestof AG20-01, on a new block of claims staked to cover a Goldrushanalogue target, down dip from surface gold and arsenic anomalies(Figure 2). New geological mapping and information gained fromAG20-01 suggested drilling would test Devonian shales, age equivalentto the Horse Canyon Fm, at their contact with the top of the DevilsGate Limestone. It was hypothesized for several reasons, includingcomparisons with the Goldrush area, that alteration and mineralizationwould strengthen down dip east of the surface geochemical anomaly.AG21-02 intersected the shale-limestone contact at 575’ where a clayzone, minor silicification, decalcification, and limonite wereencountered, both in the siltstone/shale above and limestone below.The drill was then moved 750 meters south near the center of the claimblock for AG21-03 (Figure 2). That hole intersected a karst cavityat 240-255’, then silicified, argillized and decalcified, sooty,black, calcareous siltstone and shale. A clay zone at 295-310’separated the siltstone/shale from strongly decalcified Devil’s GateLimestone, including fossil hash, coral fragments, silicification andsome massive black jasperoid to 450’. Both iron oxide and pyritewere common in the alteration zone. A normal fault zone wasencountered from 575 to 620’. Marble, graphitic slickensides, sporadic decalcification, pyritic andsilicified zones enveloped the fault zone from 505-675. The hole wasstopped at 700’ in calcarenite of the Lower Denay Formation. Thealteration zone at the shale to Devils Gate contact from 240 to 450’is considered excellent host rock and is correlative with and similarto alteration at the Goldrush ore deposit 40km to the northwest alongthe Cortez Trend. AG21-03 is located in an undrilled area and the zoneis open in all directions. Normal faults noted on section B-B’ inthe vicinity of the drill hole locally contain rhyolite dikes andanomalous mercury at surface (Figure 1). The samples from thesedrill holes are currently being shipped for assay.
Figure 1 - Cross Section ofAG21-03
Figure 2 - Location of AG21-03
Figure 3 - Alpha Gold Claim BlockLocations
Figure 4 - Alpha Gold TargetLocations
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. Well exposed ‘lower plate windows’ nearAlpha Gold have been extensively explored for Carlin-type golddeposits with a number of deposits 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 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
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