Sitka Drills 139.1 Metres of 0.61 G/T GOLD Including High-Grade Intervals at Its Rc GOLD Project, Yukon
NEWS RELEASE
October 15, 2020
NR 20-29
www.sitkagoldcorp.com
SITKA DRILLS 139.1 METRES OF 0.61 G/T GOLD INCLUDING HIGH-GRADE
INTERVALS AT ITS RC GOLD PROJECT, YUKON
VANCOUVER, CANADA – October 15, 2020: Sitka Gold Corp. (“Sitka” or the “Company”)
(CSE:SIG) (FSE:1RF) is pleased to announce the first assay results from two of its drill holes on its
RC Gold Project in Yukon (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 10
kilometre distance (Figure 1). The Company is awaiting results for the remaining four drill holes.
Highlights from these drill holes include*:
• 139.1 metres of 0.61 g/t gold from 131.9 metres to 271 metres in DDRCCC20-004 including:
o 59 metres of 0.88 g/t gold from 212 to 271 metres and
o 37 metres of 1.05 g/t gold from 234 to 271 metres and
o 6.6 metres of 1.27 g/t gold from 131.9 to 138.5 metres
• 57.5 metres of 0.50 g/t gold from 243 metres to 300.5 metres in DDRCCC20-003 including:
o 11.6 metres of 1.20 g/t gold from 251 metres to 262.6 metres and
o 0.9 metres of 9.57 g/t gold from 251 metres to 251.9 metres
o
• 38 metres of 0.67 g/t gold from 27 metres to 65 metres in DDRCCC20-003
*See Table 1.
Cor Coe, CEO of Sitka, comments: “We are very pleased to have received and compiled our first drill
results from this season’s diamond drilling program at the RC Gold Pro ject. Visible gold with
bismuthinite was observed in DDRC CC20-003 during logging and now is confirmed by these assay
results. Drill holes DDRCCC20-003 and 04 returned exceptionally long intersections of u p to 139 .1
metres of 0.61 g/t gold as well as high grade intervals of up to 9.57 g/t gold over 0.9 metres, and
straddles a lateral width of 300 metres of persistent gold values throughout both holes (F igure 3).
These holes were drilled at the Eiger zone where previously released assays earlier this season from
surface grab and chip samples returned up to 27.8 g/t gold within a >500 ppb gold -in-soil anomaly
(see news release dated September 8, 2020 ). The drilling results at the Eiger Zone of RC Gold
Project confirm that the area hosts significant gold mineralization th at is open both laterally and at
depth within a broad gold-in-soil anomaly and underscores that this zone is an important discovery for
follow up dr illing (Figures 2 and 3 ). Our maiden drill campaign targeted areas over an 10 kilometre
distance 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 dep th (see Figure 1). The campaign
was successful in intersecting significant gold mineralization within an intrusion related gold system
environment in both drill holes DDRCCC20-003 and DDRCCC20-004. These initial results solidify our
belief that the RC Gold Project is a fertile land package that may host several intrusion related gold
deposits along with high -grade vein and breccia hosted gold. We look forward to compiling the
remaining drill holes once assay results are received from the lab.”
Figure 1: RC Gold Project 2020 Drill Hole Locations
The Company identified the Eiger Zone, which contains a large >500 ppb gold -in-soil anomaly, as a
priority drill target at the RC Gold Project and submitted eleven rock grab and chip surface for rush
analysis (Figure 2) 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. Visible gold with bis muthinite was observed in DDRC CC20-
003 during logging and is now confirmed by these assay results. The correlation of gold and bismuth
in intrusion related gold systems is a characteristic feature of deeply formed intrusion -proximal gold
deposits and is present at the nearby Eagle Creek 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 (Baker et al., 2005).
Sheeted quartz veins mineralized with variable amounts of arsenopyrite, p yrite, chalcopyrite and
bismuthinite were encountered throughout the entire length of hole DDRCCC20 -003 below the
surface projection where the reported samples were taken.
Figure 2: RC Gold Project – Eiger Zone Target Plan Map showing 2020 Surface Rock
Samples and Completed Drill Holes and section A-A’
Table 1: RC Gold Project Drill Results – Eiger Zone Target*
Hole ID From (m) To (m) Interval (m) Au (g/t)
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.
Figure 3: SECTION A-A' OF DRILL HOLES DDRC20-03 AND 04
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 Yuko n'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 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 pred ominately 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 b elt
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 gra de 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.
(1) O’Brien, E. and Kreft, B., (2010): 2010 Diamond Drilling Program Clear Creek Property
Analysis and QA/QC
Analytical wor k was carried out by ALS Global Labs. The sample preparation took place in
Whitehorse, YT and the analyses were completed in Vancouver, BC. Each sample was assayed for
Gold by 30 gram fire assay Au -AA25 with over -limits re-analyzed gravimetrically. Additionally, each
sample was analysed by ICP ME-MS41 for a suite of 51 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.
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 i n 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 Nunav ut. 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 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
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 forward ‐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”, “project”, “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 Co mpany 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 limited to, the expected timing and ter ms 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) accepts responsibility for the adequac y or accuracy of this release. No stock exchange,
securities commission or other regulatory authority has approved or disapproved the information
contained herein.