Sitka Completes LiDAR Survey at RC Gold Project, Yukon
NEWS RELEASE
September 28, 2020
NR 20-28
www.sitkagoldcorp.com
Sitka Completes LiDAR Survey at RC Gold Project, Yukon
VANCOUVER, CANADA – September 28, 2020: Sitka Gold Corp. (“Sitka” or the “Company”)
(CSE: SIG; FSE: 1RF) is pleased to announce that it has completed 44.1 square kilometers of Light
Detection and Ranging (LiDAR) surveying over its RC Gold Project (“RC Gold” or the “Project”) ,
located approximately 110 km east of Dawson City, Yukon. The survey was completed in two blocks
with 34.2 square kilometers covering the Clear Creek Property and the western part of the RC
Property and 9.9 square kilometers covering most of the Barney’s Ridge Property.
The LiDAR survey follows the Company’s recently completed 6 hole, 1500 metre diamond drilling
program on this District scale project. The holes tested high priority targets at the Saddle and Eiger
zones on the Clear Creek Property and at the Big Creek and Far Grid zones 6 km to the southeast on
the RC Property and were the first diamond drill holes to be completed on any of these zones. Results
of the drilling program are currently pending.
Light Detection and Ranging (LiDAR) technology uses infrared laser pulses to map the ground
surface in great detail and with very high accuracy. The pulses penetrate vegetation, allowing the
creation of very high -resolution imagery showing subtle ground features, even under forest cover.
This in turn allows for the identification and mapping of important geological features, such as faults
and fractures, that would otherwise be undetectable in air photo or satellite imagery.
“We are very pleased to have been able to acquire LiDAR imagery over a significant portion of the RC
Gold Project prior to the onset of winter conditions,” stated Cor Coe, CEO and Director of Sitka. “ Gold
mineralization in Intrusion Related Gold Systems, especially higher grade mineralization hosted in
veins, breccias and stockworks, is strongly controlled by structures such as folds faults and fractures.
The precise identification of such structures, combined with abundant historical data and the results of
the recent diamond drilling, trenching and soil sampling completed this summer, will be of great use in
the delineation of new and existing gold targets as the Company plans a much larger Phase 2
diamond drilling program anticipated for the 2021 field season.”
On the Clear Creek property the survey co vered the intrusion related east -west trending sheeted
quartz vein systems at the Saddle and the Eiger zones (Figure 1) (1). The Saddle zone contains an
approximately 1 km east -west by 400 m north -south zone of greater than 150 ppb gold in soil
anomaly, with a core zone measuring 500 m by 250 m of greater than 350 ppb up to 3,740 ppb gold(1).
The Eiger zone contains several gold -in-soil anomalies of greater than 150 ppb and up to 4384 ppb
within a 500 m by 400 m area. Historical highlights include Reverse Circulation drill hole intercepts of
22 m of 1.24 g/t gold (2) and 88 m of 0.65 g/t gold (1) that bottomed in mineralization and trench results
that include 2.11 g/t gold over 24 m(1). Eleven rock grab and chip samples taken within the Eiger Zone
concurrent with the Company’s 2020 drilling program returned values from 1.56 g/t gold to 27.8 g/t
gold (see n ews release dated September 8, 2020). A total of 218 soil samples were also collected
with results yet to be received.
(1) Huber, M. (November 10, 2018) 2018 Technical Report on the Clear Creek Property. The author
states in his report that Independent v erification of those results was not undertaken and that he
reconciled the field data with the analytical results and found no irregularities.
On the RC Property the survey covered the Big Creek and Far Grid intrusion related gold deposit
targets identified by the Company in 2019 (see news release dated December 5, 2019). These targets
are located approximately 6 km to the south-southeast of the Eiger and Saddle zones and are defined
by coincident mineralized east -west oriented sheeted quartz veins, soil a nd rock geochemistry and
induced polarization (IP) chargeability anomalies.
On the Barney’s Ridge Property, 8 km west of the RC Property, rock sampling of altered sediments
near the margin of the Barney Stock has returned values ranging from less than 5 ppb to 7.72 g/t gold
across 0.8 metres within a 600 by 125 m wide > 30 ppb Au soil anomaly. The company completed
approximately 100 m of trenching across the Barney’s Ridge Property in August 2020 along with a
geochemical survey comprised of 279 soil samples.
Figure 1: 2020 LiDAR Survey, Drilling and Trenching Areas
About the RC Gold Project
The RC Gold Project is a 345.5 square kilometre 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 within the Tombstone Gold Belt. It is the largest consolidated land package strategically
positioned mid -way between Victoria Gold's Eagle Gold Mine , Canada’s newest gold mine which
reached commercial production earlier this summer, and Golden Predator's Brewery Creek Gold
Mine, which recently received Government and First Nation’s support for re -starting production. The
RC Gold Project land package is comprised of five underlying mining properties, namely; the RC, Bee
Bop, Mahtin, Clear Creek and Barney Ridge Properties*.
Sitka Gold has inherited a wealth of historical and current data from these properties that span the last
40 years. Recent exploration work and the compilation of historical data has 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 AM Gold’s Red Mountain property at its northern
boundary.*
*For more detailed information on the u nderlying properties please visit our website at
www.sitkagoldcorp.com.
Deposit Model
Exploration on the Property has predominately been 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 reserves of 282 million tonnes at 0.37 g/t Au (3.4
million ounces, not including 7.5 million ounces of past production; Fairbanks Gold Mining Inc.); Eagle
Gold mine with 155 million tonnes at a diluted grade of 0.65 g/t Au (3.26 million ounces; Victoria Gold
Corp., 2020); the Brewery Creek epizonal deposit with 17.17 million tonnes at a gold grade of 1.45 g/t
(0.726 million ounces; Barr, 2013); and the Red Mountain gold deposit, located adjacent to Sitka’s RC
Gold project, with 127 million tonnes grading 0.48 g/t (1.95 million ounces; AM Gold Corp.; Cole,
2012)*.
*The disclosure above is strictly for deposit model comparisons and the mineralization hosted on
these properties is not indicative of mineralization hosted on the Company’s property.
(2) O’Brien, E. and Kreft, B., (2010): 2010 Diamond Drilling Program Clear Creek 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 emphasis 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 alignment with shareholders’
interests.
The scientific and technical content of th is news release has been reviewed and approved by Greg
Dawson, P.Geo., Director 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
Cautionary and Forward-Looking Statements
This news release contains forward ‐looking statements and forward ‐looking information within the
meaning of applicable securities laws. These statements relate to future events or future performance.
All statements other than statements of historical fact may be for ward‐looking statements or
information. Forward ‐looking statements and information are often, but not always, identified by the
use of words such as “appear”, “seek”, “anticipate”, “plan”, “continue”, “estimate”, “approximate”,
“expect”, “may”, “will”, “pr oject”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”,
“believe”, “would” and similar expressions.
Forward-looking statements and information are provided for the purpose of providing information
about the current expectations and plans of management of the Company relating to the future.
Readers are cautioned that reliance on such statements and information may not be appropriate for
other purposes, such as making investment decisions. Since forward ‐looking statements and
information address future events and conditions, by their very nature they involve inherent risks and
uncertainties. Actual results could differ materially from those currently anticipated due to a number of
factors and risks. These include, but are not limite d to, the expected timing and terms of the private
placement, use of proceeds, anticipated work program, required approvals in connection with the
work program and the ability to obtain such approvals. Accordingly, readers should not place undue
reliance on the forward‐looking statements, timelines and information contained in this news release.
Readers are cautioned that the foregoing list of factors is not exhaustive.
The forward ‐looking statements and information contained in this news release are made as of the
date of this news release and no undertaking is given to update publicly or revise any forward ‐looking
statements or information, whether as a result of new information, future events or otherwise, unless
so required by applicable securities laws or the CSE. The forward -looking statements or information
contained in this news release are expressly qualified by this cautionary statement.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the
CSE) accep ts responsibility for the adequacy or accuracy of this release. No stock exchange,
securities commission or other regulatory authority has approved or disapproved the information
contained herein.