Sitka Gold Completes First Hole of its 2022 Drilling Program at Alpha Gold in Nevada
NEWS RELEASE
June 21, 2022
NR 22-19
www.sitkagoldcorp.com
Sitka Gold Completes First Hole of its 2022 Drilling Program at
Alpha Gold in Nevada
VANCOUVER, CANADA – June 21, 2022: Sitka Gold Corp. (“Sitka'' or the “Company”) (CSE:SIG)
(FSE:1RF) (OTCQB:SITKF) is pleased to announce that the next phase of drilling recently began on
June 17th at the Company’s Alpha Gold Project (“Alpha Gold” or the “Project”), located at the southeast
end of the Cortez Trend approximately 40 kilometres southeast of the Barrick/Newmont Cortez gold
mine complex in Nevada. O’Keefe Drilling, an experienced and highly regarded drill contractor that is
familiar with the Project, has been secured to conduct the drilling. The Company is als o pleased to
announce that it has completed the first drill hole of this phase of drilling (hole #AG22-09) that went to
a depth of 171 metres (see description below). The Company is very excited to be continuing its
exploration drilling at Alpha Gold, where drilling completed in 2021 discovered a new Carlin-type gold
system. Valuable knowledge gained from the previous drill campaigns, along with additional mapping
and other recent information gathered in the area, have been incorporated into the latest generation of
priority drill targets for this current phase of exploration. All previous holes drilled to date have
intersected gold mineralization associated with strong Carlin-type pathfinder elements in a zone of
strong alteration at surface that extends for approximately 7 kilometres along major fold structures that
have been mapped in the area. Sitka intends to drill a minimum of 1,500 metres during this phase of
exploration.
AG22-09 was completed on June 19th to a depth of 171 metres. The hole was drilled at an azimuth of
176 degrees and an inclination -60 degrees from the same pad as drill holes AG21-05 and -07 and was
positioned to test the hanging wall (west side) of the N-S structure (see Figures 1 and 2). There was a
decalcified zone at 58-61 metres, but the strong alteration began at 113 metres in the Horse Canyon
equivalent unit. A zone of strong silicification, decalcification and druzy quartz in vugs continued to 143
metres. The interval was highly carbonaceous and zones of 5-10+ percent pyrite were common. There
were also balls of clay and chips of rhyolite from thin dikes in the upper part of the interval. This
alteration was much more visual than that at the bottom of AG21 -05 (see news release dated
September 16, 2021). At 143 meters the hole began to hit cavities and lose return. Cuttings that were
recovered below 143 metres included mostly fine sucrosic jasperoid typical of strongly altered Devils
Gate Limestone. The strong alteration reminiscent of AG21-08 in this hole (see news release dated
November 16, 2021) is very encouraging for AG21-10 which is currently being drilled and will test the
same structure farther south and deeper (see Figure 2).
“We are very excited to begin this latest phase of drilling at Alpha Gold,” stated Cor Coe, P.Geo., CEO
and Director of Sitka. “This is the first drilling to be conducted since we doubled the size of the Alpha
Gold Property last year, after receiving our assay results and our amended BLM drill permit (see news
releases dated November 16, 2021 and March 3, 2022). Previous drilling at Alpha Gold returned
intervals of greater than one gram per tonne of gold with only eight drill holes completed across three
phases of drilling in a large, newly identified area within the projection of the Cortez trend. Initial
observations of drill hole AG22-09 are very encouraging and further enforce our belief that Alpha Gold
has excellent potential to host a large, Carlin-type gold deposit. Sitka is well funded to continue drill
advancing the Alpha Gold Project as we work towards vectoring in on the high-grade core of this newly
discovered Carlin-type gold system.”
Drilling at Alpha NW will continue testing prospective ore control structures near the crest of the large-
scale Alpha NNW anticline. A rhyolite dike-filled normal fault tested by AG21-08 yielded up to 1.24 g/t
Au (see press release dated November 16, 2021) in the Horse Canyon Equivalent stratigraphic host,
but this intercept is well out on the east limb of the anticline. Follow up drilling will test a larger NNW
normal fault nearer the crest of the anticline. The structure underlies thin soil and gravel cover. Related
alteration and target potential became apparent after additional mapping following last year’s drilling.
AG21-05 was proximal to the same structure farther north and encountered remarkably strong gold
mineralization (0.41 g/t over 12.19 m; see news release dated September 16, 2021) high in the Horse
Canyon equivalent unit where the hole was lost. SSE directed testing through the entire host horizon
is now considered critical to better assess this shallow target.
More detailed surface mapping at Frazier Creek has now clearly defined the anticlinal target in that
area, five kilometers SSE of Alpha NW. Alteration intensity on surface, surrounding the intersection of
the anticline with the major Frazier Creek cross-structure, make this an extremely exciting target to test
in favorable rocks at depth. The Horse Canyon equivalent target stratigraphy are estimated to lie at
depths comparable to those seen in AG21-08 at Alpha NW.
Last year’s drilling established that Alpha’s NNW anticline carries widespread gold mineralization in
Horse Canyon equivalent host stratigraphy. This year’s objective is to determine and vector specific
ore controls within this very large fold structure. Identifying primary ore controls in a Carlin-type system
almost always requires more than the cursory wide spaced drilling so far completed at Alpha Gold.
High potential exists for much higher gold grades that will justify aggressive lateral offset drilling and
down section testing of even more prospective Wenban 5 equivalent stratigraphy. The Goldrush
discovery was also an incremental process that included significant early gold intercepts at ET Blue in
2004, persistent exploratory drilling, an important breakthrough from a water well through gravel cover
and finally the discovery announcement in 2010. Alpha Gold has all the correct elements to host a
major Carlin-type discovery, and the company is excited to commence another phase of drilling.
Figure 1: Alpha Gold claims, drill hole locations and structural geology
Figure 2: Location of drill hole AG22-09
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 1 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 m ountain 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.
Three drill programs totaling 2604 meters in 8 holes have been completed at Al pha 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.
Upcoming Events
Sitka Gold will be attending the following events:
● Invest Yukon Conference, Dawson City, Yukon: June 21st - 23rd, 2022
About Sitka Gold Corp.
Sitka Gold Corp. is a mineral exploration company headquartered in Canada that is fully funded for its
planned 2022 exploration programs with the recent completion of a $4.69 million financing. 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 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.
Sitka is currently conducting a 10,000 metre diamond drill program with two drills at its RC Gold Project
in the Yukon where the last hole drilled in 2021 (Hole 21) resulted in the discovery of a new gold zone
(the Blackjack zone) and returned 220.1 metres averaging 1.17 g/t gold from surface (see news release
dated February 17, 2022). Follow-up drilling in the winter of 2022 expanded the Blackjack zone to the
east, west and vertically down dip. Current drilling is focused on further defining the extent of this zone,
which is open in all directions.
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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