Sitka Drills 16.0 Metres of 2.18 g/t Gold at RC Gold in Yukon
NEWS RELEASE
January 20, 2022
NR 22-03
www.sitkagoldcorp.com
Sitka Drills 16.0 Metres of 2.18 g/t Gold at RC Gold in Yukon
VANCOUVER, CANADA – January 20, 2022: Sitka Gold Corp. (“Sitka” or the “Company”)
(CSE:SIG) (FSE:1RF) (OTCQB:SITKF) is pleased to announce final assay results from 5 diamond drill
holes (DDRCCC-21-016 through DDRCCC-21-020) from the Company’s 2021 summer exploration
program at its RC Gold Project (“RC Gold” or the “Project”).
The Company completed a 15-hole, 5,000 metre diamond drill program on the Saddle-Eiger zone at
the RC Gold Project during the 2021 exploration season. Assay results from all 15 holes (DDRCCC-21-
007 through DDRCCC-21-021) have now been received. DDRCCC-21-016 and -017 were drilled at the
Eiger zone. Drill holes DDRCCC-21-018 through DDRCCC-21-020 were drilled at the Saddle Ridge
zone (see Figure 1) – approximately 750 metres east of the Saddle West zone where DDRCCC-21-021
(“Hole 21”) intersected 220.1 metres of 1.17 g/t gold from surface (see Company news release dated
December 13, 2021), and 1,000 metres west of the Eiger zone (see Figures 2 and 3).
All results for the 2021 summer drilling program have now been received and released. Mobilization
for a 2022 winter diamond drill program at the Project is currently underway with drilling expected to
start later this month to follow up on the results from Hole 21.
“We are very pleased with the results from our 2021 exploration program at the RC Gold Project. Drilling
has continued to demonstrate that there is significant gold enrichment in this system along a wide, 2,000
metre long structural corridor of sheeted veining stretching from the Saddle West zone through the
Saddle Ridge zone and on to the Eiger zone. Visible gold was also observed in DDRCCC-21-019 which
coincided with a 0.3 metre intercept that returned over 1 ounce per tonne of gold and reflects what we
believe to be a continuation of the high-grade gold corridor recently discovered in Hole 21 located over
700 metres away at the Saddle West zone. Our understanding of the geologic controls to mineralization
within this system has grown tremendously this past field season and we are very excited about the
opportunity to apply that knowledge to our upcoming drill programs planned for this winter and the
summer field season. Our focus this winter will be on following up at the Saddle West zone and on the
results from Hole 21”, stated Cor Coe, P.Geo., CEO and Director of Sitka.
Table 1 - Significant Diamond Drilling Intercepts
Drillhole From To Length (m) Grade (g/t Au)
DDRCCC-21-016 39.0 51.0 12.0 1.18
including 39.87 40.25 0.38 18.10
and 136.0 161.0 25.0 0.56
DDRCCC-21-018 75.0 82.0 7.0 1.52
and 123.0 129.0 6.0 2.21
DDRCCC21-019 48.0 128.0 80.0 0.59
including 80.0 96.0 16.0 2.18
including 80.0 82.7 2.7 6.54
including 80.0 81.6 1.6 10.09
including 81.3 81.6 0.3 39.20
and 124.0 128.0 4.0 1.20
Figure 1 – RC Project Drill Hole Locations and Longitudinal Section Line
Figure 2 - Saddle Ridge & Eiger Zones
Figure 3 - Longitudinal Section Along Structural Corridor at Clear Creek
Table 2 – Drill Hole Information
Hole ID Length Azimuth Dip
DDRCCC-21-016 435.0 340 -45
DDRCCC-21-017 162.5 340 -45
DDRCCC-21-018 131.0 180 -45
DDRCCC-21-019 195.6 180 -45
DDRCCC-21-020 183.2 000 -60
Drill hole DDRCCC-21-016 was drilled at the Eiger zone on section with, and 100 metres above
DDRCCC-21-012 which intercepted 419.0 metres of 0.67 g/t gold (see Company news release dated
September 22, 2021), and 200 metres above DDRCCC-21-013 which intercepted 213.0 metres of 0.45
g/t gold (see Company news release dated October 21, 2021). The drillhole was collared and remained
in the Eiger diorite unit for its entire length. Significant sheeted quartz-vein style mineralization was
encountered from the top of the hole at 3.0 metres to 161.0 metres downhole for a 158.0 metre interval
grading 0.33 g/t gold after which the density of veining was more sporadic.
Drill hole DDRCCC-21-017 was also drilled at the Eiger zone 55 metres northeast of hole DDRCCC-
21-016. This hole encountered numerous post-mineral faults at low angles to the core axis consisting
of clay gouge and calcite healed gouge-breccia zones. The hole was terminated before target depth
due to the poor ground conditions caused by drilling these faults at a low angle. Mineralization consisted
of sections of sheeted quartz veining of varying density with associated sulphide minerals and returned
a weighted average gold value of 0.13 g/t gold over the entire 162.5 metre length of the hole.
Drill hole DDRCCC-21-018 is located at the Saddle ridge zone, approximately 1,000 metres west of
the Eiger zone, and was an 80 metre step-back from hole DDRCCC-20-001 which returned 84.8 metres
of 0.52 g/t gold (see Company news release dated November 23, 2020). This hole was collared in
metasedimentary country rock and encountered several intrusive sills and dikes of the Saddle style
megacrystic feldspar granite. Gold mineralization is associated with sheeted quartz veining and
generally best developed in and adjacent to the intrusive unit. This hole returned a weighted average
interval of 86.9 metres of 0.36 g/t gold from 42.1 metres to 129 .0 metres downhole which includes
several higher-grade zones (see table 1). This hole was terminated due to technical failure caused by
permafrost before reaching target depth and was subsequently closely twinned by hole DDRCCC-21-
019.
Drill hole DDRCCC-21-019 was drilled as a twin to DDRCCC-21-018 which had to be terminated prior
to target depth due to technical failure with the drilling rig. The geology encountered in this hole is
consistent with the results of hole DDRCCC-21-018 but returned better gold grades with a weighted
average interval of 80.0 metres grading 0.59 g/t gold, including an oc currence of visible gold in an
interval grading 39.20 g/t gold over 0.3 metres.
Drill hole DDRCCC-21-020 was drilled to the north on the same section line as holes DDRCCC-20-
001 and DDRCCC-21-018 and -019 and collared just to the south of DDRCCC-21-018 and -019. The
hole failed to reach target depth due to poor ground conditions and did not intersect the projection of
the main megacrystic feldspar granite sill associated with the stronger gold grades drilled in DDRCCC-
20-001 and DDRCCC-21-018 and -019. No significant zones of mineralization were encountered.
Analysis and QA/QC
Analytical work was carried out by ALS Global Labs. The sample preparation took place in Whitehorse,
YT and the analyses were completed in North Vancouver, BC. Each sample was assayed for gold by
50 gram fire assay Au-ICP22 as well as by ICP ME-MS41 for a suite of 51 elements. Overlimit samples
containing greater than 10 g/t Au were analyzed by fire assay with a gravimetric finish (Au-GRA22).
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 Material and one blank of unmineralized
material.
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*.
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=4984158
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 mi neral
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
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 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 limited 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.