Sitka Drills 100.8 Metres of 0.82 G/T GOLD and 2 Metres of 16.10 G/T GOLD at Its Rc GOLD Project, Yukon
NEWS RELEASE
November 23, 2020
NR 20-30
www.sitkagoldcorp.com
SITKA DRILLS 100.8 METRES OF 0.82 G/T GOLD AND 2 METRES OF 16.10 G/T GOLD
AT ITS RC GOLD PROJECT, YUKON
VANCOUVER, CANADA – November 23, 2020: Sitka Gold Corp. (“Sitka” or the “Company”)
(CSE:SIG) (FSE:1RF) is pleased to announce additional drill results received for two of its drill holes
at its RC Gold P roject in Yukon ( “RC Gold” or the “Project”). A total of six drill holes totalling
approximately 1500 metres were completed on the district scale RC Gold Pro ject this year testing
high priority targets over a pproximately 10 kilometres (Figure 1). Results for the remaining two drill
holes (DDRCRC-20-005 & DDRCRC-20-006) are pending.
Highlights from these drill holes include*:
• 287.0 metres of 0.52 g/t gold from 9.0 to 296.0 metres (the entire hole)
in DDRCCC-20-002 including:
o 231.0 metres of 0.61 g/t gold from 65.0 to 296.0 metres and
o 100.8 metres of 0.82 g/t gold from 156.4 to 257.2 metres and
o 2.0 metres of 16.10 g/t gold from 294.0 to 296.0 metres
• 84.8 metres of 0.52 g/t gold from 3.0 to 87.8 metres in DDRCCC-20-001 including:
o 13.6 metres of 1.63 g/t gold from 72.1 to 85.7 metres and
o 18.0 metres of 1.34 g/t gold from 69.0 to 87.0 metres and
o 18.0 metres of .90 g/t gold from 3.0 to 21.0 metres
*See Table 1.
“These exceptional results demonstrate the enormous potential present at the Saddle -Eiger Zones
and confirm that the area hosts significant gold mineralization, open both laterally and at depth, within
a broad gold -in-soil anomaly that is over 2 kilometres in length (Figure 2)”, stated Cor Coe, Director
and CEO of Sitka. “It is very impressive t o have an entire drill hole (DDRCCC -20-002) return over
0.52 g/t gold, including 100.8 metres of 0.82 g/t gold , that also ended in 16.1 g/t gold over 2.0
metres. The intercepts and grade s we are discovering in this area are quite compelling when you
consider Victoria Gold’s producing Eagle Gold mine , located about 40km east of our claim block, has
a resource grade of 0.63 g/t gold. We believe the results from these inaugural drill holes at the
Saddle-Eiger Zones reflect the grades and scale necessary for hosting an economic gold deposit and
we are looking forward to a much more aggressive drill program in 2021 to follow up on this important
discovery.”
Sitka’s first ever drill campaign at RC Gold tested four targets over a distanc e of approximately 10
kilometres within a massive 345.5 square kilometre land package that had never been drilled before
or where previous drilling had been unsuccessful in reaching target depth (see Figure 1). The
campaign was successful in intersecting significant gold mineralization within an intrusion related gold
system environment in all four drillholes completed within the Saddle-Eiger Zone area.
Figure 1: RC Gold Project 2020 Drillhole Locations
These drill holes were strategically positioned to test the large, overlying >100ppb to >500 ppb gold -
in-soil geochemical anomaly that stretches over an approximate 2 kilometre x 500 metre area (Figure
2). DDRCCC-20-001 and 20-002 were located approximately 1240 metres and 183 0 metres
respectively to the west of DDRCCC-20-004 along the trend of this large gold anomaly. DDRCCC-20-
003 and 20 -004 also returned exceptionally long intersections of up to 139.1 metres of 0.61 g/t gold
as well as high grade intervals of up to 9.57 g/t g old over 0.9 metres, and straddle a lateral width of
300 metres of persistent gol d values throughout both holes . The results from these four drill holes
demonstrate the potential size and robust nature of this mineralized gold zone and solidify Sitka’s
belief that the RC Gold Project is an incredibly fertile land package capable of hosting several
intrusion related gold deposits along with high-grade vein and breccia hosted gold. Sitka is planning a
much larger diamond drill program to follow up on these results in the 2021 field season.
Figure 2: 2020 Drillhole Plan Map at the Saddle-Eiger Zones
The Company identified the Saddle-Eiger Zone s, which contains a large >500 ppb gold -in-soil
anomaly, as a priority drill target area at the RC Gold Project and submitted eleven rock grab and chip
surface samples for rush analysis while drilling was underway. The samples returned values ranging
from 1.56 g/t gold to 27.8 g/t gold (see news release dated September 8, 2020) and identified a strong
correlation between high grade gold and bismuth.
DDRCCC-20-001 was drilled to test mineralization reported in historical trenches, and a gold -in-soil
anomaly at the Saddle zone. The hole encountered a thick package of hornfelsed metasediments and
a quartz monzonite intrusion interpreted by Company geologists to be a sill. Significant quartz -
sulphide sheeted veins were recorded within the metasediment package in the hanging wall of the
intrusive sill, and in the intrusive sill itself.
DDRCCC-20-002 was drilled 625 meters west of hole 20-001 and collared on the margin of the
Saddle intrusive stock. The drillhole intersected quartz monzonite, belonging to the Saddle Stock Unit,
for nearly the entire length of the hole except for a short section of metasediments near the bottom.
Mineralization consisted of sheeted quartz-sulphide veins, and notably an interval of pegmatite and
massive arsenopyrite veins at the bottom of the hole which returned 16.1 g/t Au over 2 .0 meters
between 294.0 and 296.0 meters depth. High-grade gold values throughout the drillholes were found
to coincide with higher bismuth values.
DDRCCC-20-003 (results previously announced - see news release dated October 15, 2020) was
collared on the margin of the Eiger stock and drilled to the northwest to intersect at depth numerous
quartz-sulphide veins sampled at surface which returned values up to 27.8 g/t Au from select grab
samples obtained at the beginning of the drill program (see news release dated September 8, 2020).
The hole encountered intrusive rocks of the Eiger stock mineralized with sheeted quartz -sulphide
veins for its entire length. Mineralization consisted of quartz veins co ntaining pyrite, arsenopyrite and
bismuthinite, and massive arsenopyrite veins. Visible gold with bismuthinite was also observed in
DDRCCC-20-003 during logging and was confirmed by assay results. The correlation of gold and
bismuth in intrusion related go ld systems is a characteristic feature of deeply formed intrusion -
proximal gold deposits and is present at the nearby Eagle Gold mine and at the Fort Knox gold mine
where it indicates the presence of fine grained (on the order of 100 microns) free gold (Ba ker et al.,
2005). Sheeted quartz veins mineralized with variable amounts of arsenopyrite, pyrite, chalcopyrite
and bismuthinite were encountered throughout the entire length of drillhole DDRCCC -20-003 below
the surface projection where the reported samples were taken.
DDRCCC-20-004 (results previously announced - see news release dated October 15, 2020) was
collared approximately 100 meters north of DDRCCC-20-003 and drilled to the south. The hole was
planned to test below mineralization reported from historical trenches and to test the margin of the
intrusive stock and the adjoining hornfelsed metasedimentary unit. The hole encountered mineralized
sheeted veins throughout its entire length, and a nota ble increase in grade was observed in the
hornfelsed metasediment unit adjacent to the Eiger stock.
Table 1: RC Gold Project Drill Results – Saddle-Eiger Zone
Hole ID From (m) To (m) Interval* (m) Gold (g/t)
DDRCCC20-001 3.0 87.8 84.8 0.52
including 72.1 85.7 13.6 1.63
including 69.0 87.0 18.0 1.34
and 3.0 21.0 18.0 0.90
DDRCCC20-002 9.0 296.0 287.0 0.52
including 65.0 296.0 231.0 0.61
Including 156.4 257.1 100.8 0.82
and 294.0 296.0 2.0 16.10
DDRCCC20-003 3.0 307.4 304.4 0.36
Including 27.0 65.0 38.0 0.67
Including 243.0 300.5 57.5 0.50
Including 251.0 262.6 11.6 1.20
Including 251.0 251.9 0.9 9.57
DDRCCC20-004 2.1 281.0 278.8 0.4
Including 187.0 271.0 84.0 0.72
Including 131.9 271.0 139.1 0.61
Including 212.0 271.0 59.0 0.87
Including 234.0 271.0 37.0 1.05
Including 131.9 138.5 6.6 1.27
*Intervals are drilled core length, as insufficient drilling has been undertaken to determine true widths at this time.
Cross-sections of these drillholes will be made available on the Company’s website
(www.sitkagoldcorp.com).
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 just
reach 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 pro perty 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 hos t 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 m odel comparisons and the mineralization hosted on
these properties is not indicative of mineralization hosted on the Company’s property.
(1) O’Brien, E. and Kreft, B., (2010): 2010 Diamond Drilling Program Clear Creek Property
Analysis and QA/QC
Analytical work was carried out by Bureau Veritas Labs. The sample preparation took place in
Whitehorse, YT and the analyses were completed in Vancouver, BC. Each sample was assayed for
Gold by 50 gram fire assay FA450 with over -limits re -analyzed gravim etrically. Additionally, each
sample was analysed by ICP ES-MS for a suite of 36 elements.
The Company has a rigorous Quality Assurance/Quality Control (QA/QC) program in place consistent
with NI 43-101 and industry best practices in addition to QA/QC procedures at the lab. Each batch of
20 samples contains one certified Standard Reference Materia l and one Blank of know n
unmineralized material.
Stock Options
The Company ha s granted 30 0,000 incentive stock options to consultants of the Company ,
exercisable at $0.18 per share for a period of 2 years from the date of issue, and 50,000 incentive
stock options to a n advisor of the Company , exercisable at $0.18 per share for a period of 5 years
from the date of issue.
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 a nd copper mineral properties of
merit. Sitka currently has an option to acquire a 100% interest in th e 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 prop erty in Nevada, it’s Mahtin Gold property in the Yukon and it’s
Coppermine River project in Nunavut. Directors and Management own approximately 15 % of the
outstanding shares of Sitka Gold Corp., a solid indication of their alignment 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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