Sitka Gold Completes First Deep Drill Hole at Alpha Gold, Nevada
NEWS RELEASE
July 24, 2020
NR 20-21
www.sitkagoldcorp.com
Sitka Gold Completes First Deep Drill Hole at Alpha Gold,
Nevada
VANCOUVER, CANADA – July 24, 2020: Sitka Gold Corp. (“Sitka” or the “Company”) (CSE:
SIG; FSE: 1RF) is pleased to announce that it has completed its first deep drill hole at its Alpha Gold
Property (“Alpha Gold” or the “Property”) located in Nevada’s prolific Carlin gold province.
Alpha Gold is located where the projection of the Cortez gold trend, which hosts several multi-million
ounce gold deposits, intersects with the Garden Valley Anticline (See news release dated June 18,
2020). Permits for a 12-hole drill program have been secured to test a Carlin-type gold deposit target
at Alpha Gold where the prime Late Devonian carbonate host horizon is believed to be preserved at
the contact between the Webb formation and the Devil’s Gate (Figure 1). The Webb-Devil’s Gate
contact zone hosts McEwen Mining’s newly operational Gold Bar mine, located nearby on a parallel
anticlinal trend, and is considered to be the most favourable host for gold mineralization in the Roberts
Mountains. Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of
the mineralization hosted on the Company’s property.
Cor Coe, CEO of Sitka, commented, “We are very pleased to have completed our first deep drill hole
at Alpha Gold. We were able to penetrate a substantial amount of the targeted structure and the
information gathered from this maiden hole appears to support our modeling, reinforcing the potential
for Alpha Gold to host a Carlin-type gold deposit. We look forward to receiving the analytical results
from AG20-01.”
AG20-01, the initial diamond drill hole at Alpha Gold (Figure 2), has been completed to a depth of 548
metres (1799 feet). The hole was successful in penetrating through the upper plate and intersecting a
substantial amount of the Webb formation. Intense clay-alteration and shearing from 321.5m - 354.9m
(1055ft - 1163ft) is interpreted to reflect a normal fault which offsets dolomite exposed on surface east
of the collar by about 400m downward to where it was intercepted in the hole (Figure 1). The clay
alteration overprints earlier sericite-pyrite-quartz alteration. Narrower zones of structurally controlled
clay-sericite-pyrite and bedding controlled massive pyrite were also present in the hole. The drill hole
penetrated enough structure that it should detect leakage anomalies if a significant Carlin-type system
lies below.
The hole was stopped in Antler Foreland rocks (inferred Blue Hill Unit equivalent) beneath the Roberts
Mountains thrust as eastward hole deviation had turned the hole to within 20 degrees of the bedding
orientation (Figure 1). Information from the hole has greatly enhanced the geologic understanding of
the project area and supports the Carlin-type gold deposit target concept. Stratigraphy revealed in
AG20-01 indicates the upper plate is completely eroded across part of the Alpha Gold Project, but the
Antler Foreland sequence (Webb formation and Devonian shale) is much thicker than where it is
exposed farther west. Prospective areas for testing the top of the Devils Gate formation are
interpreted to exist beneath AG20-01 in the footwall of the normal fault, and up dip to the west at the
top of the Devil’s Gate Limestone. (Figure 1).
All drill hole samples have been submitted for assay. Analytical results of both gold and pathfinder
elements from this initial deep drill hole will greatly assist in positioning additional drill holes at Alpha
Gold.
Figure 1 - Geological Cross Section of AG20-01
Figure 2 - AG20-01 Drill Hole Location
The scientific and technical content of this news release has be en 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.
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, Barney Ridge Gold and Clear Creek Gold properties in 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 17% of the outstanding shares of Sitka Gold Corp., a solid
indication of their alignment with shareholders’ interests.
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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