Sitka Compiles Results from First Deep Drill Hole at Alpha Gold, Nevada
NEWS RELEASE
September 24, 2020
NR 20-27
www.sitkagoldcorp.com
Sitka Compiles Results from First Deep Drill Hole at Alpha Gold,
Nevada
VANCOUVER, CANADA – September 24, 2020: Sitka Gold Corp. (“Sitka” or the “Company”)
(CSE: SIG; FSE: 1RF) is pleased to announce that it has received all assays from its first deep drill
hole (AG20-01) at its Alpha Gold Property (“Alpha Gold” or the “Property”) located in Nevada’s prolific
Carlin gold province.
AG20-01 intercepted anomalous gold and mercury in siliceous mudstones of the Webb formation (see
Figure 1 displaying a histogram for gold and line graph for mercury). This anomalous geochemistry
was associated with weak sericite -clay alteration and structure and is interpreted as leakage from a
Carlin-type system at depth. Information from the hole and surface mapping indicate the hole was
located on the steep east limb of a fold. The best location for testing the clastic to carbonate transition
into the top of the Devil’s Gate Limestone is likely to the west on the broader west limb of the fold.
Chert intercepted at 152m in the hole is exposed on the west part of the property and a follow up hole
collared at the base of that chert unit with a broad less complex target is being considered. The
footwall of the major normal fault on the east side of the P roperty might afford a shallower target but
bedding is moderately dipping and highly faulte d creating a narrow, more difficult target. Sitka will
continue to assess the geology of the Alpha Gold area and weigh the prospects of optimal location to
collar the next hole.
“The first deep drill hole at our Alpha Gold Property was successful in pene trating a substantial
amount of the targeted structure,” commented Cor Coe, CEO and director of Sitka. “Several intercepts
with anomalous levels of gold were encountered throughout the Webb formation which we interpret to
be leakage from an underlying Carl in-type gold system. The results from this first drill hole appear to
support our modeling and have greatly increased our understanding of the underlying geological
structures which we can now leverage in determining the optimal location and positioning of a second
drill hole to reach the Webb-Devil’s Gate contact zone.”
Figure 1 - Drill Hole AG20-01
AG20-01 was completed to a depth of 548 metres (1799 feet). The hole was successful in penetrating
through the upper plate and intersecting a substantial amount of the Webb formation. Intense clay -
alteration and shearing from 321.5m - 354.9m (1055ft - 1163ft) is interpreted to reflect a normal fault
which offsets dolomite exposed on surface east of the collar by about 400m downward to where it was
intercepted in the hole. The clay alteration overprints earlier sericite -pyrite-quartz alteration. Narrower
zones of struc turally controlled clay -sericite-pyrite and bedding controlled massive pyrite were also
present in the hole.
The hole was stopped in Antler Foreland rocks (inferred Blue Hill Unit equivalent) beneath the Roberts
Mountains thrust as eastward hole deviatio n had turned the hole to within 20 degrees of the bedding
orientation (Figure 1). Information from the hole has greatly enhanced the geologic understanding of
the project area and supports the Carlin -type gold deposit target concept. Stratigraphy revealed in
AG20-01 indicates the upper plate is completely eroded across part of the Alpha Gold Project, but the
Antler Foreland sequence (Webb formation and Devonian shale) is much thicker than where it is
exposed farther west. Prospective areas for testing the top of the Devils Gate Limestone are
interpreted to exist beneath AG20-01 in the footwall of the normal fault, and up dip to the west (Figure
1).
Alpha Gold is located where the projection of the Cortez gold trend, which hosts several multi -million
ounce gold deposits, intersects with the Garden Valley Anticline (See news release dated June 18,
2020). Permits for a 12 -hole drill program have been secured to test a Carlin -type gold deposit target
at Alpha Gold where the prime Late Devonian carbonate host h orizon is believed to be preserved at
the contact between the Webb formation and the Devil’s Gate Limestone (Figure 1). The Webb -
Devil’s Gate contact zone hosts McEwen Mining’s newly operational Gold Bar mine, located nearby
on a parallel anticlinal trend, and is considered to be the most favourable host for gold mineralization
in the Roberts Mountains. Mineralization hosted on adjacent and/or nearby properties is not
necessarily indicative of the mineralization hosted on the Company’s property.
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 emphas is on gold, silver and copper mineral properties of
merit. Sitka currently has an option to acquire a 100% interest in the RC Gold, Bee Bop, Barney
Ridge, Clear Creek and OGI properties in Yukon and the Burro Creek Gold property in Arizona. Sitka
owns a 100% interest in its Alpha Gold property in Nevada, its Mahtin Gold property in the Yukon and
its Coppermine River project in Nunavut. Directors and Management own approximately 17% of the
outstanding shares of Sitka Gold Corp., a solid indication of their a lignment with shareholders’
interests.
The scientific and technical content of this news release has been reviewed and approved by Cor
Coe, P.Geo., Director and CEO of the Company, and a Qualified Person (QP) as defined by National
Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SITKA GOLD CORP.
“Donald Penner”
President and Director
For more information contact:
Donald Penner
President & Director
778-212-1950
or
Cor Coe
CEO & Director
604-817-4753
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