Sitka Gold Begins Drilling at its Alpha Gold Property in Nevada
NEWS RELEASE
June 18, 2020
NR 20-16
www.sitkagoldcorp.com
Sitka Gold Begins Drilling at its Alpha Gold Property in Nevada
VANCOUVER, CANADA – June 18 , 2020 : Sitka Gold Corp. (“Sitka” or the “Com pany”)
(CSE:SIG) (FSE:1RF) is pleased to announce that drilling has commenced at its Alpha Gold Property
(“Alpha Gold” or the “Property”) located in Nevada’s prolific Carlin gold province.
Alpha Gold is located wher e the projection of the Cortez g old trend, which hosts several multi -million
ounce gold deposits, intersects with the Garden Valley Anticline (See Figures 1 & 2 )(1). Permits for a
12-hole drill program have been secured to test a Carlin-type gold deposit target at Alpha Gold where
the prime Lat e Devonian carbonate host horizon is believed to be preserved at the contact between
the Webb formation and the Devi l’s Gate formation (see Figures 3 & 6 ). The Webb-Devil’s Gate
contact zone hosts McEwen Mining’s newly operational Gold Bar mine, located ne arby on a parallel
anticlinal trend, and is considered the most favourable host for gold mineralization in the Roberts
Mountains(1).
Figure 1: Alpha Gold Location
Cor Coe, chief executive officer of Sitka, commented, “We are very pleased to begin our drill program
at Alpha Gold. Our geological modeling estimates the Webb -Devil’s contact zon e to be located
approximately 350-550 m below surface at this initial drill location. We are excited to get the drill down
to that depth and test the Carlin-type gold deposit potential of the Property.”
Figure 2: Alpha Gold Target Location
The Alpha Gold Project incorporates a stratigraphic and structural re -interpretation of the eastern
Roberts Mountains based on geological mapping and a review of the liter ature maps and oil well and
mineral exploration data from the region. Soil geochemistry at Alpha is interpreted as distal leakage
from a Carlin-type gold system in favorable stratigraphy at depth (see Figure 3). The section at Alpha
begins at surface with the Roberts Mountain s allochthon, or “Upper Plate”. Rocks below the “Upper
Plate” are expected to resemble those at Goldrush in the eastern Cortez District. The Mississippian
Webb Formation and a Devonian Shale are anticipated beneath the “Upper Plate” and correlate with
the Blue Hill unit at Goldrush. The first critical marker is expected to be a phosphate lens horizon at
the base of this unit (see Figure 4). The strata should very gradually become more calcareous below
the phosphate lens horizon and this would be analogous to the Horse Canyon Formation at Goldrush.
The Horse Canyon Formation equivalent strata are expected to transition into the Devils Gate
limestone in the eastern Roberts Mountains. That stratigraphic horizon is expected to be an
exceptionally fertile environment for Carlin -type gold mineralization, much more so than the Webb –
Devils Gate contact seen in the western Roberts Mountains, which is affected by an unconformity.
Figure 3: Alpha Gold Regional Cross-Section
The collar of t he hole AG20-01 is located on the eastern limb of the structural dome interpreted from
the surface geologic mapping of the Alpha area (see Figure 5) . The eastern limb was preferred
because it dips into the regional Garden Pass norm al fault system to the ea st. A minor normal fault
900 feet east of the drill collar may also create enhanced mineralization. The site lies within a surface
gold geochemistry anomaly in the project area (Figure 5) . The transition from Horse Canyon
equivalent silty carbonate rocks t o the Devils Gate limestone at depth is where Carlin -Type
mineralization should be most laterally extensive and is the primary objective of this drill hole (see
Figure 6).
Figure 4: Goldrush Stratigraphic Section (2015)(2)
Figure 5: Alpha Gold Drill Hole 20-01 Collar Location
Figure 6: Conceptual Cross Section for Drill Hole 20-01 (see Figures 4 & 5 for reference)
About Alpha Gold
Sitka Gold has acquired a 100% interest in the Alpha Gold Property, located along the southeast
projection of the prolific Cortez Gold Trend in Eureka County, approximately 135 kilometres southwest
of Elko, Nevada. The Property is comprised of a claim block of 50 lode claims covering an area of
approximately 1000 acres (405 hectares) and is accessible via a dirt road, ap proximately 2km west of
Nevada State Highway 278.
The Property was 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. 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 regio nal 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.
(1) Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of the mineralization hosted on the
Company’s property
(2) From: “The Goldrush Discovery, Cortez District, Nevada – The Stratigraphic Story ” by Mark A. Bradley and Nathan Eck,
Barrick Gold Exploration, Inc.
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 property 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. Directors and Management own approximately 20% 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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