Sitka Commences Drilling Third Target at Adobe and Announces Drill Results for Second Hole
Sitka Gold Corp.
1500 - 409 Granville Street
Vancouver, BC, V6C 1T2
NEWS RELEASE
CSE: SIG
July 18th, 2018
NR 18-14
www.sitkagoldcorp.com
Sitka Commences Drilling Third Target at Adobe and
Announces Drill Results for Second Hole
VANCOUVER, CANADA – July 18th, 2018: Sitka Gold Corp. (CSE: SIG) (the “Company” or
“Sitka”) announces regulatory permitting has been received and it is mobilizing the Reverse
Circulation (RC) drill rig to the third drill target at its Adobe Gold Project located 40km north of
Elko, Nevada. The Company is exploring for Carlin-type gold mineralization in an area of the
Adobe Range Mountains that has the necessary structural/stratigraphic features and
geochemical signature for such potential mineralization to occur at depth on a district scale. The
Company is also pleased to announce assay results from its second drill hole (A18-02)
completed last month.
Reverse Circulation drill hole A18-02 was drilled at 135°, -70° to a total depth of 1955 feet
(595.85 metres). Geochemical results showed generally elevated gold throughout the
Mississippian section from 340’ to 1955’ which is analogous to A18-01. This supports the
northern Adobe Range as a prospective location for Carlin-type gold generation, due to
regionally elevated background gold in this part of the Mississippian black shale basin. More
importantly gold concentrations spiked in a few key intervals of A18-02 indicating a Carlin-type
gold system is at work concentrating that gold. Peak gold in A18-02 was six times that seen in
A18-01. The strongest gold spike occurred at the margin of a potentially Eocene-aged, biotite-
hornblende dike, in a decalcified, silicificified zone near the base of the Permian. Two additional
gold spikes occurred in the Tripon Pass Formation associated with quartz-calcite stockwork and
pyrite in thin dolomitic beds. Carlin-type ore bodies typically focus along specific regional
stratigraphic horizons of highly favorable strata. Narrow decalcified, silicificied, gold zones
associated with dikes, faults and thin carbonate beds are characteristic of leakage into less
favorable rocks above orebodies.
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Characteristic Carlin-type gold anomalies in A18-02 strongly support further drilling to test the
Adobe project’s ultimate stratigraphic target in the lowermost Tripon Pass and uppermost
Guilmette Formations. Surface mapping suggests this target horizon will be much shallower
where A18-03 will collar this week. A18-03 will test the Adobe project’s northern anticline target
next to a major northwest striking fault, within an antimony-thallium surface geochemical
anomaly.
Scott Price, VP Exploration comments: ”Gold anomalies in A18-02 look like leakage and
indicate potential for much stronger mineralization in the Tripon Pass – Guilmette contact zone.
A18-03 tests a target that meets all of our structural and geochemical parameters and has the
best chance of cost-effectively reaching the critical stratigraphic target.”
The location of drill holes A18-01 and A18-02, and the proposed site of A18-03 are shown on
the attached map (Figure 1); a downhole profile of A18-02 is shown with gold results in Figure 2.
Both figures can also be viewed on Sitka’s website (www.sitkagoldcorp.com).
Sitka plans to drill up to 3000 metres in 6 holes with a Reverse Circulation drill rig. This will be
carried out in stages to allow sufficient time for assays to be received and assessed.
Anticipated depths are expected to be approximately 300m to 500m.
About Sitka Gold Corp.
Sitka Gold Corp. is a mineral exploration company headquartered in Canada and managed by a
team of experienced mining industry professionals. The Company is focused on exploring for
economically viable mineral deposits with its primary emphasis on gold and copper mineral
properties of merit. Sitka currently has an option to acquire a 100% interest in the Adobe gold
property in Nevada and owns a 100% interest in its Coppermine River project in Nunavut and
the Alpha Gold property in Nevada. The Company is currently drilling its Adobe Gold Property
with funds raised from its recent Initial Public Offering that was fully subscribed for $1.2M.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SITKA GOLD CORP.
“Donald Penner”
President and Director
For more information contact:
Donald Penner
President & Director
or
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Cor Coe
CEO & Director
604-817-4753
or
Peter MacLean
Director
604-781-8513
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the Canadian Securities Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Cautionary Statements Regarding Forward Looking Information
Certain statements included herein may constitute “forward-looking statements”. All statements
included in this press release that address future events, conditions or results, including in
connection with exploration activity, future acquisitions and any financing, are forward-looking
statements. These forward-looking statements can be identified by the use of words such as
“may”, “must”, “plan”, “believe”, “expect”, “estimate”, “think”, “continue”, “should”, “will”, “could”,
“intend”, “anticipate” or “future” or the negative forms thereof or similar variations. These
forward-looking statements are based on certain assumptions and analyses made by
management in light of their experiences and their perception of historical trends, current
conditions and expected future developments, as well as other factors they believe are
appropriate in the circumstances. These statements are subject to risks, uncertainties and
assumptions, including those mentioned in the Company’s continuous disclosure documents,
which can be found under its profile on SEDAR (www.sedar.com). Many of such risks and
uncertainties are outside the control of the Company and could cause actual results to differ
materially from those expressed or implied by such forward-looking statements. In making such
forward-looking statements, management has relied upon a number of material factors and
assumptions, on the basis of currently available information, for which there is no insurance that
such information will prove accurate. All forward-looking statements are expressly qualified in
their entirety by the cautionary statements set forth above. The Company is under no obligation,
and expressly disclaims any intention or obligation, to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise, except as
expressly required by applicable law.
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Figure 1: Drill Hole Location Map
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Figure 2: A18-02 Cross Section