Sitka Expands Extent of Gold Mineralization in Strong Carlin-Type Alteration to 2.5 Km at the Alpha Gold Project, Nevada
NEWS RELEASE
February 22, 2023
NR 23-05
www.sitkagoldcorp.com
Sitka Expands Extent of Gold Mineralization in Strong
Carlin-Type Alteration to 2.5 Km at the Alpha Gold Project,
Nevada
VANCOUVER,
CANADA
–
February
22,
2023:
Sitka
Gold
Corp.
(“Sitka”
or
the
“Company”)
(CSE:SIG)
(FSE:1RF)
(OTCQB:SITKF)
is
pleased
to
release
results
from
the
final
drill
holes
of
the
2022
drill
program
at
the
Alpha
Gold
Project
(“Alpha
Gold”
or
the
“Project”)
located
on
the
southeast
projection
of
the
Cortez
gold
trend,
approximately
40
kilometres (km) southeast of the Nevada Gold Mines Cortez Complex in Nevada (Figure 1).
A
total
of
1,374.7
metres
(m)
in
four
holes
(AG22-09
–
AG22-12)
were
completed
in
2022.
AG22-11
intersected
12.2
m
of
0.50
g/t
gold
including
1.5
m
of
2.32
g/t
gold
within
strong
Carlin-type
alteration.
The
hole
was
a
940m
step-out
south-southeast
of
AG22-10
which
intersected
21.3
m
of
1.21
g/t
gold
including
1.5
m
of
4.62
g/t
gold
(see
news
release
dated
October
6,
2022)
expanding
the
extent
of
gold
mineralization
in
strong
Carlin-type
mineralization
intersected
in
drilling
to
2.5
km
within
the
8
km
north-northwest
trending
target
zone (Figure 2).
Figure 1: Location map of Alpha Gold Project within the Cortez Trend.
Cor
Coe,
P.Geo.,
CEO
and
Director
of
Sitka
Gold
comments,
“
The
results
from
our
final
drill
holes
of
2022
are
very
encouraging
and
continue
to
demonstrate
the
potential
of
this
area
to
host
one
or
more
significant
Carlin-type
gold
deposits
as
seen
at
other
locations
along
the
Cortez
trend.
The
intercept
from
AG22-11
is
particularly
exciting
as
it
expanded
the
extent
of
known
Carlin-type
gold
mineralization
an
additional
940
metres
from
Hole
10
and
suggests
proximity
to
a
potential
high-grade
core
zone.
This
was
an
important
step
in
confirming
the
mineralization
trend
considering
there
is
no
significant
gold
in
surface
alteration.
Further,
while
Hole
12
did
not
reach
its
target
depth,
the
gold
present
in
the
cap
rock
above
the
targeted
host
horizon
was
more
anomalous
than
in
Hole
11
and
suggests
the
host
rock
in
this
location
could
be
higher-grade
in
nature.
With
2.5
km
of
potential
strike
length
delineated
by
our
drilling
in
2021
and
2022,
the
next
step
at
Alpha
will
be
locating
the
anticline
crest
and
core
of
the
gold
mineralization
with
additional
cross
trend
drilling
aimed
at
finding
higher-grade gold zones similar to those that have made the Cortez trend famous.”
Figure 2: North-northwest trending target zone at Alpha Gold.
AG22-12
was
drilled
5.6
km
south
of
AG22-10
at
the
southern
extent
of
the
target
zone
in
the
Frazier
Creek
area.
A
strongly
altered
dike-filled
fault
zone
high
above
the
target
horizon
carried
anomalous
gold.
Progress
on
the
hole
was
plagued
by
mechanical
breakdowns
and
challenging
hole
conditions
and
after
nine
weeks
the
decision
was
made
to
abandon
the
hole
at
416
m
as
severe
winter
weather
set
into
the
area.
The
hole
therefore
did
not
reach
the
critical
Horse
Canyon
Equivalent
host
rock
horizon
which
was
its
targeted
objective.
Gold
was
more
anomalous
in
AG22-12
than
it
was
in
AG22-11
in
the
shale
cap
rock
above
the
host
horizon.
Surface
alteration
at
Frazier
Creek
is
visually
the
strongest
on
the
Alpha
Gold
property
with
a
2
km
strike
length
of
continuous
alteration
interpreted
as
leakage
from
a
potential
Carlin-type
gold
system
at
depth.
Valuable
information
obtained
from
this
first
drill
hole
and
the
extensive
alteration
on
surface
confirms
Frazier
Creek
as
a
high
priority
target
(Figure 5).
Confirmation of a Large Carlin-type Gold System
All
elements
of
a
large
Carlin-type
gold
system
are
confirmed
by
results
at
Alpha.
The
Horse
Canyon
Equivalent
host
rock
horizon
carries
gold
mineralization
and
Carlin
pathfinders
in
all
holes
that
have
penetrated
it
at
Alpha
and
correlates
with
analogous
horizons
at
Goldrush
and
Gold
Bar.
A
deeper
horizon
in
the
McColley
Canyon
Fm
(Goldrush
Wenban
Fm
Unit
5
equivalent)
remains
untested
at
depth.
Mapping
has
identified
and
drilling
is
confirming
a
NNW
anticline
broadly
controlling
gold
mineralization
just
like
at
Goldrush
40
km
to
the
NNW.
Gold
mineralization
is
now
drill-defined
for
2.5
km
along
the
anticline
in
the
Horse
Canyon
Equivalent
host.
Drill
results
ranging
from
broad
zones
of
0.10
g/t
in
AG21-02
and
03
versus
stronger
intercepts
like
21.3
m
of
1.21
g/t
Au
in
AG21-10
may
reflect
their
proximity
to
the
crest
of
this
anticline.*
A
higher
grade
core
coincident
with
the
anticline
crest
can
now
be
surmised
in
this
manner.
The
location
of
this
interpreted
high
priority
drill
target
zone
is
shown
in
Figure
2.
The
target
is
also
based
on
the
gold
distribution
pattern
at
Goldrush where gold greater than 5 g/t is restricted to mostly narrow elongate zones.
*
The geologic setting at Alpha is correlative with
that at Goldrush and other gold deposits along the Cortez Trend, however,
Sitka makes no representation that similar gold deposits will be found at Alpha.
Targeting High-grade Gold Mineralization
Peak
gold
grades
in
Carlin-type
systems
generally
occur
where
ore
fluids,
optimal
host
rock,
and
highly
fractured
or
brecciated
zones
intersect.
Figures
3
and
4
are
drill
sections
illustrating
such
targets
at
Alpha.
Figure
3
shows
the
fold
crest
target
west
of
AG22-10.
Gold
grades
increase
from
1.24
g/t
in
AG21-08
to
4.62
g/t
in
AG22-10.
Gold
grade
should
continue
to
increase
into
the
crest
and
hingeline
of
the
fold
where
fracture
intensity
should
be greatest.
Figure
3:
Cross-section
through
AG21-08
and
AG21-10
showing
interpreted
core
gold
mineralization target (red cross hatched areas).
Figure
4
shows
Goldrush
style
anticline
crest
targets
at
the
projected
location
of
the
core
zone
between
AG21-03
and
04.
Targets
inferred
along
the
reverse
fault
are
like
breccia
zone
ore
bodies
on
the
Sadler
reverse
fault
at
the
new
Fourmile
deposit.
AG21-03
intercepted
58
m
@
0.10
g/t
Au
around
a
large
karst
cavity.
AG21-04
had
the
highest
sulphide
and
arsenic
concentration
of
any
hole
including
66
m
@
622
ppm
As,
associated
with
an
altered
intrusive
body
in
the
Horse
Canyon
Equivalent
to
Devils
Gate
contact.
The
potentially
even
more
prospective
McColley
Canyon
Fm
(Goldrush
Wenban
Fm
Unit
5
equivalent)
target
on
this
section
is
less
than
600
m
deep
and
has
not
been
tested
by
drilling
here
or
elsewhere
on
the
property.
Testing
these
system
core
targets
with
cross-trend
drilling,
then
offsetting
them
along
trend
as
shown
by
the
target
zone
map
in
Figure
2
is
the
next
stage
for
the
Alpha
Gold
project.
Figure
4:
Cross-section
of
AG21-03
and
AG21-04
showing
interpreted
core
gold
mineralization targets (red cross hatched areas).
Figure 5: Frazier Creek target.
About Alpha Gold
Sitka
Gold
has
acquired
a
100%
interest
in
the
Alpha
Gold
Project,
located
along
the
southeast
projection
of
the
prolific
Cortez
Gold
Trend
in
Eureka
County,
approximately
135
kilometres
southwest
of
Elko,
Nevada.
The
Project
is
comprised
of
one
contiguous
claim
block
totaling
239
lode
claims
covering
an
area
of
approximately
4,780
acres
(1,934
hectares)
and
is
accessible
via
a
dirt
road,
approximately
2
km
west
of
Nevada
State
Highway 278.
The
Project
was
initially
staked
after
the
location
was
recognized
as
the
intersection
of
the
regional-scale
Pine
Valley
anticline
with
northeasterly
fold
trends
exposed
in
the
Roberts
Mountains.
Overprinting
NNW
folds
coincident
with
the
projection
of
the
Cortez
Trend
were
subsequently
recognized
and
found
to
be
important
alteration
and
mineralization
controls.
Of
primary
importance
at
the
Alpha
Gold
location
is
that
the
rocks
have
been
down-dropped
significantly
by
late
extensional
faulting.
Prior
to
extension,
and
during
the
critical
36-42
Ma
Carlin-type
mineralization
event,
the
fold
crest
at
Alpha
Gold
would
have
been
a
regional
highpoint
among
nearby
mountain
ranges.
Well
exposed
‘lower
plate
windows’
near
Alpha
Gold
have
been
extensively
explored
for
Carlin-type
gold
deposits
with
a
number
of
deposits
found along the limbs.
A
total
of
3,979
metres
of
drilling
in
12
holes
have
been
completed
at
Alpha
Gold
since
its
acquisition
and
have
advanced
the
Property
from
an
undrilled
geologic
concept
with
a
surface
alteration
and
pathfinder
element
anomaly,
to
a
large
wide-open
Carlin-type
gold
system with thick, low-grade gold intercepts, from wide-spaced drilling.
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
the
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.
Sitka
has
received
all
assay
results
from
its
2022
diamond
drill
program
at
its
RC
Gold
Project
in
the
Yukon
and
announced
a
43-101
compliant
Initial
Mineral
Resource
Estimate
of
1,340,000
ounces
of
gold
beginning
at
surface
and
grading
0.68
g/t
(see
news
release
dated
January
19,
2023).
Results
from
2022
drilling
at
the
Company’s
Alpha
Gold
Property
in
Nevada
where
a
new
Carlin-type
gold
system
was
recently
discovered
have
all
been
received.
The
Company
is
focused
on
vectoring
towards
the
high-grade
core
of
this
newly
discovered
system
which
is
located
in
the
Cortez
Trend
just
40
km
southwest
of
the
Cortez
Mine Complex of Barrick/Newmont.