Sitka Completes First Drill Hole at Adobe
Sitka Gold Corp.
1500 - 409 Granville Street
Vancouver, BC, V6C 1T2
NEWS RELEASE
CSE: SIG
May 24th, 2018
NR 18-10
www.sitkagoldcorp.com
Sitka Completes First Drill Hole at Adobe
VANCOUVER, CANADA – May 24th, 2018: Sitka Gold Corp. (CSE: SIG) (the “Company” or
“Sitka”) is pleased to announce that the first drill hole has been completed on its Adobe Gold
property (“Adobe” or the “Property”) located 40 kilometres 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 features and geochemical signature for such potential
mineralization to occur at depth.
Reverse circulation drill hole A18 -01 was drilled northwest at azimuth 300, -70 degrees
inclination to test an IP chargeability high anomaly and prospective Early Mississippian to Late
Devonian stratigraphy in the company’s target A area. The hole was drilled to a total depth of
1510 feet (460.24 metres) and was successful in reaching the targeted upper Tripon Pass
Formation from a transition depth of 980 feet (298.70 metres) to the bottom of the hole. The
upper Tripon Pass Formation consisted of mixed calcareous a nd siliceous siltstones and a 20
foot (6.1 metre) interval of limestone and calcareous matrix sandstone. The formation included
a weakly pyrite mineralized fracture network, strongly carbonaceous intervals and localized clay
alteration or gouge, all of wh ich probably contribute to the IP chargeability anomaly coincident
with this interval. All samples from this hole have been shipped to Atclabs in Kamloops, BC.
A18-01 intersected Permian limestone, calcareous siltstone, sandstone and chert pebble
conglomerate to a depth of 327 feet (99.67 metres) where it encountered the Permian -
Mississippian unconformity. An alteration zone of decalcification, silicification, and oxidation
was present at and above the unconformity, which also contained iron oxide, minor remnant
pyrite, and abundant carbon which produced a heavy black film on the drilling discharge water.
Below the unconformity, an anomalously thick section of Chainman Shale (carbonaceous
siltstone and shale) was cut, before mildly calcareous rocks of up per Tripon Pass formation
were intersected at 980 feet 298.70 metres).
Cor Coe, CEO and Director for Sitka comments: “We are very pleased with the progress made
to date at Adobe. Stratigraphy intersected by A18 -01 combined with the IP survey and surface
mapping now provide a much clearer picture of target area A. We anticipate moving back to this
target area once the second hole at target area B is completed and the results of both holes
have been compiled.”
The drill rig has been moved to target area B where an initial hole is now collared. Hole A18-02
will drill southwest at azimuth 135, -70 degrees inclination. The hole will test the northwest side
of a similar , but stronger, IP chargeability high anomaly to that found in Target A . If this IP
anomaly has a similar cause, which surface mapping suggests it may, the hole should test the
flatter northwest limb of an anticline. This would provide a much more favorable angle to
bedding and allow the hole to cut farther into the target stratigraphy, which be comes more
calcareous and prospective with depth.
The location of drill holes A18 -01 and A18 -02 are shown on the attached map (Fig ure 1) and
can also be viewed on Sitka’s website (www.sitkagoldcorp.com).
Sitka plans to drill up t o 3000 metres in 6 holes w ith a reverse circulation drill rig, at the Adobe
Gold project. This will be carried out in stages to allow sufficient time for assays to be
completed and results to be analyzed. All samples will be analyzed by Actlabs in Kamloops,
BC, an ISO/IEC 17025 A ccredited Laboratory by t he Standards Council of Canada. The
samples will be fire assayed for gold with Atomic Absorption Finish as well as geochemically
analyzed for a 63-element suite by ICP-MS methods.
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.
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
Cor Coe
CEO & Director
The technical content of this news release has been reviewed and approved by Donald Penner,
P.Geo, Director and President for the Company, and qualified person as defined by National
Instrument 43 -101. Neither the Canadian Securities Exchange nor it Regula tion 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 forw ard-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 negativ e 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 develop ments, 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 Co mpany’s continuous disclosure documents,
which can be found under it s 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 expre ssly 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 informati on, future events or otherwise, except as
expressly required by applicable law.
Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or
accuracy of this release.
Figure 1 - Location of Adobe Drill Holes, Adobe Gold Project, Township 38N, Range 56E, Mount Diablo Meridian