Sitka Gold (CSE:SIG) (FSE:1RF) (OTCQB:SITKF) releases drill results expanding extent of gold mineralization in strong Carlin-Type alteration to 2.5 km at its Alpha Gold Project in Nevada. Sitka Gold holds a 100% interest in the 4,780-acre Alpha Gold Project, located along the southeast projection of the prolific Cortez Gold Trend in Eureka County, approximately 40 kilometres southeast of the Nevada Gold Mines Cortez Complex in Nevada.
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Sitka Gold (CSE:SIG) (FSE:1RF) (OTCQB:SITKF) has released results from the final two drill holes of the 2022 drill program at its Alpha Gold Project in Nevada.
Sitka Gold holds a 100% interest in the 4,780-acre Alpha Gold Project, located along the southeast projection of the prolific Cortez Gold Trend in Eureka County, approximately 40 kilometres southeast of the Nevada Gold Mines Cortez Complex in Nevada.
The project, approximately 2 km west of Nevada State Highway 278, is easily accessible via a dirt road.
A total of 1,374.7 metres in four holes, AG22-09 to 12, were completed in 2022.
In October, the company released the first two holes, with Hole AG22-09 returning 10.7 m of 0.51 g/t gold and Hole AG22-10 returning 21.3 m of 1.21 g/t gold starting at 212 m, including 13.7 m of 1.52 g/t gold and 1.5 m of 4.62 g/t gold.
AG22-11 intersected 12.2 m of 0.50 g/t gold including 1.5 m of 2.32 g/t gold within strong Carlin-type alteration.
This was a 940 m step-out south-southeast of AG22-10, expanding the extent of gold mineralization in strong Carlin-type mineralization intersected in drilling to 2.5 km within the 8 km north-northwest trending target zone.
AG22-12 was drilled 5.6 km south of AG22-10 at the southern extent of the target zone in the Frazier Creek area.
Gold was more anomalous in AG22-12 than it was in AG22-11 in the shale cap rock above the host horizon.
Progress on the hole was plagued by mechanical breakdowns and challenging hole conditions and as severe winter weather set into the area, the hole was abandoned at 416 m, before reaching the critical Horse Canyon Equivalent host rock horizon, its targeted objective.
Surface alteration at Frazier Creek is visually the strongest on the Alpha Gold property with a 2 km strike length of continuous alteration interpreted as leakage from a potential Carlin-type gold system at depth.
Valuable information obtained from this first drill hole and the extensive alteration on surface confirms Frazier Creek as a high priority target.
Peak gold grades in Carlin-type systems generally occur where ore fluids, optimal host rock, and highly fractured or brecciated zones intersect.
This image shows the fold crest target west of AG22-10, where gold grades increase from 1.24 g/t in AG21-08 to 4.62 g/t in AG22-10.
Gold grade should continue to increase into the crest and hingeline of the fold where fracture intensity should be greatest.
This image shows Goldrush style anticline crest targets at the projected location of the core zone between AG21-03 and 04.
Targets inferred along the reverse fault are like breccia zone ore bodies on the Sadler reverse fault at the new Fourmile deposit.
AG21-03 intercepted 58 m @ 0.10 g/t Au around a large karst cavity.
AG21-04 had the highest sulphide and arsenic concentration of any hole including 66 m @ 622 ppm arsenic, associated with an altered intrusive body in the Horse Canyon Equivalent to Devils Gate contact.
Mike Burke, B.Sc., P.Geo., Director and VP Corporate Development, has joined us today to discuss today’s news. Welcome Mike…….thank you Mike
Moving north, the company’s flagship RC Gold Project is a contiguous district-scale land package, consisting of 376 square kilometres, in the heart of Yukon's highly prospective Tombstone Gold Belt.
It is strategically positioned mid-way between Victoria Gold's Eagle Gold Mine, which is Yukon's newest gold mine having reached commercial production in the summer of 2020, and Sabre Gold Mine's Brewery Creek Gold Mine.
Sitka has received all assay results from its 2022 diamond drill program at its RC Gold Project and recently announced a 43-101 compliant Initial Mineral Resource Estimate of 1,340,000 ounces of gold beginning at surface and grading 0.68 g/t.
The company is well funded with its shares trading at $0.115.
For more information about this project and the company’s projects in the Yukon, Arizona, Nunavut, and Nevada, please visit the company’s website at www.SitkaGoldCorp.com, contact Donald Penner, President, at 778-212-1950 or by email at dpenner@SitkaGoldCorp.com, or Cor Coe, CEO, at 604-817-4753, or email ccoe@SitkaGoldCorp.com.
