SITKF - Sitka Receives Drill Permit for Extended Claim Block at Alpha Gold in Nevada
(TheNewswire)
VANCOUVER, CANADA – TheNewswire - January 07,2021 - Sitka Gold Corp. (“Sitka” or the “Company”) (CSE:SIG) (CNSX:SIG.CN) (FSE:1RF) (OTC:SITKF) ispleased to announce that it has received the required drill permitsfrom the Bureau of Land Management (BLM) in Nevada for the newlystaked claims at its Alpha Gold Property (see news release datedDecember 30, 2020). The mining claims were staked to cover a newlyidentified Carlin-type gold deposit target northwest of the existingAlpha Gold claims located along the projection of the Cortez GoldTrend in Nevada.
Sitka is now permitted for up to 16 drill hole sites atits Alpha Gold Property. The Company is currently in discussions witha drill contractor regarding drill rig availability and intends tocommence drilling as soon as a drill rig has been secured. The Companyplans to initially drill the newly identified Carlin-type gold deposittarget on the recently staked mining claims and will determinesubsequent drill activity based on the drill results obtained as wellas results from ongoing field work on site. The Company recentlycompleted and has submitted silt sediment and rock samples taken onthe newly acquired claim block to the lab for analysis on a rushbasis, and will utilize these results in refining the drill holecollar location.
“We are pleased to have received permits to drill ournewly identified second Carlin-type gold deposit target at our AlphaGold property, located in Nevada’s Carlin Gold Province”,commented Cor Coe, CEO and Director of Sitka. “The Company intendsto commence drilling this new target once it has received the resultsfrom recently completed field work and secured a drill contractor andrig.”
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
Cautionary and Forward-LookingStatements
This news release containsforward ? looking statements and forward ? looking information within the meaning of applicable securitieslaws. These statements relate to future events or future performance.All statements other than statements of historical fact may beforward ? looking statements or information.Forward ? looking statements and information areoften, but not always, identified by the use of words such as“appear”, “seek”, “anticipate”, “plan”,“continue”, “estimate”, “approximate”, “expect”,“may”, “will”, “project”, “predict”, “potential”,“targeting”, “intend”, “could”, “might”, “should”, “believe”,“would” and similar expressions.
Forward-looking statements andinformation are provided for the purpose of providing informationabout the current expectations and plans of management of the Companyrelating to the future. Readers are cautioned that reliance on suchstatements and information may not be appropriate for other purposes,such as making investment decisions. Since forward ? looking statements and information address future events andconditions, by their very nature they involve inherent risks anduncertainties. Actual results could differ materially from thosecurrently anticipated due to a number of factors and risks. Theseinclude, but are not limited to, the expected timing and terms of theprivate placement, use of proceeds, anticipated work program, requiredapprovals in connection with the work program and the ability toobtain such approvals. Accordingly, readers should not place unduereliance on the forward ? looking statements,timelines and information contained in this news release. Readers arecautioned that the foregoing list of factors is not exhaustive.
The forward ? looking statements and information contained in this news releaseare made as of the date of this news release and no undertaking isgiven to update publicly or revise any forward ? looking statements or information, whether as a result of newinformation, future events or otherwise, unless so required byapplicable securities laws or the CSE. The forward-looking statementsor information contained in this news release are expressly qualifiedby this cautionary statement.
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