Sitka Completes High Resolution Airborne Geophysical Survey at its RC Gold Project in Yukon
NEWS RELEASE
February 3, 2022
NR 22-04
www.sitkagoldcorp.com
Sitka Completes High Resolution Airborne Geophysical
Survey at its RC Gold Project in Yukon
VANCOUVER,
CANADA
–
February
3,
2022:
Sitka
Gold
Corp.
(“Sitka”
or
the
“Company”)
(CSE:SIG)
(FSE:1RF)
(OTCQB:SITKF)
is
pleased
to
announce
that
it
has
completed
a
high
resolution,
helicopter-borne,
geophysical
survey
at
its
district-scale,
376
square
kilometre
RC
Gold
Project
(“RC
Gold”
or
the
“Project”)
in
the
Yukon.
The
magnetic
survey
was
completed
by
Precision
GeoSurveys
Inc.
and
totalled
over
1,200
line
kilometres
across
three
target
areas
at
RC
Gold,
including
the
Saddle
Eiger
zone
where
the
Company
is
currently
mobilizing
a
diamond
drill program.
“We
are
very
pleased
that
Precision
GeoSurveys
was
able
to
complete
this
high
resolution,
helicopter-borne
geophysical
survey
at
our
RC
Gold
Project
last
month.
Airborne
magnetic
surveys
provide
an
excellent
data
capture
and
we
anticipate
that
the
quality
data
generated
from
this
survey
will
further
assist
us
in
refining
drill
targets
on
the
property.
Part
of
the
survey
was
flown
over
the
Saddle
Eiger
zone
where
a
large
500
metre
by
2000
metre
intrusion
related
gold
system
has
been
identified
and
where
the
Company’s
2020
and
2021
drill
programs
have
been
focused.
Results
from
this
zone
have
returned
several
significant
gold
intercepts,
including
the
last
drill
hole
completed
in
2021,
DDRCCC-21-021
(“Hole
21”),
that
intersected
220.1
metres
of
1.17
g/t
gold
from
surface
(see
news
release
dated
December
13,
2021).
We
will
be
utilizing
the
data
from
this
survey
immediately
as
we
prepare
to
commence
our
winter
drill
program
which
is
designed
to
follow
up
on
the
exceptional
results
of
Hole
21,”
stated
Cor
Coe,
P.Geo.,
CEO and Director of Sitka.
The
data
generated
from
the
high
resolution
airborne
magnetic
survey
will
be
used
as
an
aid
to
mapping
the
exploration
essentials
of
structure,
alteration,
and
lithology
of
the
target
zones
in
conjunction
with
the
existing
results
from
LiDAR,
geochemical
soil
sampling,
existing
mapping,
sampling, drilling and historical data present on the district scale Property.
Sitka’s
winter
drill
program
is
expected
to
begin
in
the
coming
days
and,
including
the
proposed
summer
program,
will
consist
of
up
to
10,000
metres
of
diamond
drilling.
The
drilling
will
initially
be focused on step out drilling from drill hole DDRCCC-21-021 (Hole 21).
About the RC Gold Project
The
RC
Gold
Project
consists
of
a
376
square
kilometre
contiguous
district-scale
land
package
located
in
the
newly
road
accessible
Clear
Creek,
Big
Creek,
and
Sprague
Creek
districts
in
the
heart
of
Yukon's
Tintina
Gold
Belt
and
of
the
Tombstone
Gold
Belt.
It
is
the
largest
consolidated
land
package
strategically
positioned
mid-way
between
Victoria
Gold's
Eagle
Gold
Mine—Yukon’s
newest
gold
mine
which
reached
commercial
production
in
the
summer
of
2020—and
Golden
Predator's
Brewery
Creek
Gold
Mine.
The
RC
Gold
Project
land
package
comprises
five
underlying
properties,
namely,
the
RC,
Bee
Bop,
Mahtin,
Clear
Creek,
and
Barney
Ridge
properties*.
The
Company
recently
identified
a
large
500
m
by
2000
m
intrusion
related
gold
system
on
the
Property
at
the
Saddle
Eiger
zone
and
to
date
has
drilled
19
diamond
drill
holes
into
this
system.
This
has
been
the
main
focus
of
the
Company’s
drill
programs
at
RC
Gold
in
2020
and
2021
which
have
returned
several
significant
gold
intercepts,
including
the
last
drill
hole
from
the
2021
drill
program,
DDRCCC-21-021
(“Hole
21”)
that
intersected
220.1
metres
of
1.17
g/t
gold
from
surface.
Hole
21,
located
in
the
Saddle
West
Zone,
was
drilled
under
a
greater
than
500
ppb
gold-in-soil
anomaly
that
was
previously
identified
on
surface
and
is
part
of
the
larger
2
kilometre
by
500
metre
gold-in-soil
anomaly
that
stretches
from
the
Saddle
West
Zone
to
the
Eiger
Zone.
This
drill
hole
was
collared
200
metres
south
of
any
previous
drilling
conducted
and
intersected
a
newly
recognized
controlling
structure
to mineralization known as the Blackjack Fault (see news release dated December 13, 2021).
Sitka
Gold
inherited
a
wealth
of
historical
and
current
data
from
these
properties
from
work
spanning
the
last
40
years.
Recent
exploration
work
and
the
compilation
of
historical
data
have
defined
several
mineralized
zones
with
both
bulk
tonnage,
intrusion-related
gold
deposit
targets
and
high-grade,
vein-
and
breccia-hosted
gold
targets.
The
RC
Gold
Project
also
has
a
common
border
with
Victoria
Gold’s
Clear
Creek
property
at
its
western
boundary
and
Florin
Resources’
Florin Gold property at its northern boundary.
*For
more
detailed
information
on
the
underlying
properties
please
visit
our
website
at
www.sitkagoldcorp.com
.
Deposit Model
Exploration
on
the
Property
has
mainly
focused
on
identifying
an
intrusion-related
gold
system
(“IRGS”).
The
property
is
part
of
the
Tombstone
Gold
Belt
which
is
the
prominent
host
to
IRGS
deposits
within
the
Tintina
Gold
Province
in
Yukon
and
Alaska.
Notable
deposits
from
the
belt
include:
Fort
Knox
Mine
in
Alaska
with
current
Proven
and
Probable
Reserves
of
230
million
tonnes
at
0.3
g/t
Au
(2.471
million
ounces;
Sims
2018)
(1)
;
Eagle
Gold
Mine
with
current
Proven
and
Probable
Reserves
of
155
million
tonnes
at
a
diluted
grade
of
0.65
g/t
Au
at
the
Eagle
and
Olive
deposits
(3.261
million
ounces;
Goodwin
et
al.
2019)
(2)
;
the
Brewery
Creek
epizonal
deposit
with
current
Indicated
Mineral
Resource
of
22.2
million
tonnes
at
a
gold
grade
of
1.11
g/t
(0.789
million
ounces;
Hulse
et
al.
2020)
(3)
;
and
the
Florin
Gold
deposit,
located
adjacent
to
Sitka’s
RC
Gold
project,
with
a
current
Inferred
Mineral
Resource
of
170.99
million
tonnes
grading 0.45 g/t (2.47 million ounces; Simpson 2021)
(4)
.*
(1) Sims J. Fort Knox Mine Fairbanks North Star Borough, Alaska, USA National Instrument 43-101 Technical Report.
June 11, 2018.
https://s2.q4cdn.com/496390694/files/doc_downloads/2018/Fort-Knox-June-2018-Technical-Report.pdf
(2) Goodwin R, Gray P, Jutras M, Tang S, Wilbur S. Technical Report for the Eagle Gold Mine, Yukon Territory, Canada.
JDS Energy & Mining Inc. December 6, 2019.
https://vitgoldcorp.com/site/assets/files/6480/jds-vit-eagle-gold-ni-43-101-fs-report-20191206.pdf
(3) Hulse D, Emanuel C, Cook C. NI43-101 Technical Report on Mineral Resources. Gustavson Associates. May 31,
2020.
https://www.goldenpredator.com/_resources/Brewery-Creek_NI-43-101-05OCT2020-File.pdf
(4) Simpson R. Florin Gold Project NI43-101 Technical Report. Geosim Services Inc. April 21, 2021.
https://sedar.com/GetFile.do?lang=EN&docClass=24&issuerNo=00005795&issuerType=03&projectNo=03236138&docId=49
84158
About Sitka Gold Corp.
Sitka
Gold
Corp.
is
a
well
funded
mineral
exploration
company
headquartered
in
Canada.
The
Company
is
managed
by
a
team
of
experienced
industry
professionals
and
is
focused
on
exploring
for
economically
viable
mineral
deposits
with
its
primary
emphasis
on
gold,
silver,
and
copper
mineral
properties
of
merit.
Sitka
currently
has
an
option
to
acquire
a
100%
interest
in
the
RC,
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,
it’s
Mahtin
Gold property in the Yukon and it’s Coppermine River project in Nunavut.
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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‐
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‐
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These
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All
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than
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looking
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‐
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anticipated
due
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number
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include,
but
are
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timing
and
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placement,
use
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proceeds,
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work
program,
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approvals
in
connection
with
the
work
program
and
the
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to
obtain
such
approvals.
Accordingly,
readers
should
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place
undue
reliance
on
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‐
looking
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and
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whether
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