Sitka Gold Defines Several Gold Targets at the RC Gold Property, Yukon.
NEWS RELEASE
December 5th, 2019
NR 19-12
www.sitkagoldcorp.com
Sitka Gold Defines Several Gold Targets at the RC Gold Property,
Yukon.
VANCOUVER, CANADA – December 5th, 2019 : Sitka Gold Corp. (“Si tka” or the “Company”)
(CSE:SIG) (FSE:1RF) is pleased to announce that it has defined several high-priority gold targets on
its road accessible RC Gold P roperty (the “Property” or “RC Gold” ) located in the Tintina Gold Belt,
Yukon.
The targets were defin ed as a result of the fieldwork completed during the 2019 exploration program
that consisted of soil and rock geochemical surveys and Induced Polarization (IP) geophysical
surveys across the Property . Results from th ese surveys confirmed and expanded several Intrusion
Related gold targets present on the Property, discovered a new chargeability anomaly coincident with
new gold-in-soil highs and defined several drill targets , including a 2 km by 0.5 km target, that the
Company plans to drill test in the upcoming 2020 field season (Figure 1).
“The 2019 exploration program at RC Gold was successful in further delineating several strong
Intrusion Relation gold targets . RC Gold is located in a highly -prospective region that is home to
several multi -million ounce Intrusion Related Gold D eposits, includ ing Victoria Gold’s newly
constructed Eagle Gold m ine and Golden Predator’s Brewery Creek Gold m ine, and these surface
results endorse our view that the Property exhibits the geological characteristics required for a n
Intrusion Related Gold Deposit to exist at depth. The area is seeing renewed interest from Juniors and
Majors alike and w e look forward to the 2020 field season when we intend to drill test these targets
with what will be the first ever drilling conducted on the Property,” said Cor Coe, Director and CEO.
A total of 288 soil and 16 rock samples were collected to infill between two strong gold -in-soil
anomalies that were discovered in 2018. The geophysics program entailed two lines of IP surveys to
test t he southward continuity of chargeability anomalies that were also discovered in 2018. The
geochemical infill sampling between the Far Grid and Big Creek anomalies ( Figure 1 ) returned
anomalous gold values and suggests that these zones a re contiguous, repre senting an Intrusion
Related gold target that is approximately 2 km long by 0.5 km wide. Further soil sampling around the
Big Creek East anomaly also expanded and strengthened this drill target (Figure 1) . In both cases,
the pathfinder elements typi cally associated with Intrusion Related Gold Deposits were very strong .
The Company intends to drill test these areas in the upcoming 2020 field season.
Figure 1: Intrusion Related Gold Targets at the RC Gold Property
The IP survey consisted of 2 line s, each 1.6 km long, that are southward extensions of IP lines
surveyed by previous operators in 2018. The results of the 2019 survey show strong chargeability
values greater than 36 milliseconds that may reflect Intrusion R elated gold mineralization dipp ing
gently to the south (Figure 2 ). High resistivity associated with the high chargeability may indicate
silicification in the areas of potential mineralization. This coincides with strong gold -in-soil signatures
at the north and south ends of Line 1 000E and provides excellent drill targets for the 2020 field
season.
Figure 2: Cross Section of Line 1000E Showing Chargeability Anomalies
About RC Gold
The newly road accessible RC Gold Property is located 120 km east of Dawson City, Yukon in the
heart of the Tintina Gold Belt midway bet ween Victoria Gold’s Eagle M ine and Golden Predator’s
Brewery Creek Mine (Figure 3). RC Gold lies at the headwaters of Clear Creek, one of the Yukon’s
prolific placer gold producing creeks, and Big Creek, a newly discovered placer gold drainage that
went into production in 2019 . The target at RC Gold is an Intrusion Related gold deposit such as
Victoria Gold’s Eagle Gold Mine deposits (3.6 million ounces) 1, Golden Predator’s Brewery Creek
Mine deposits (1.54 million ou nces)2 and AM Gold’s Red Mountain deposit (1.95 million ounces) 3 in
the Yukon and Kinross’ Fort Knox deposit (3.0 million ounces) 4 in Alaska. The RC Gold Property is
underexplored relative to its neighbours and covers a newly discovered occurrence of gold
mineralization that is located in a favourable geological settin g. Recent surface exploration work
conducted since 2017 has identified six strong gold-in-soil anomalies, two of which appear contiguous
and cover an area that is approximately 2 km long by 0.5 km wide. Reconnaissance soil sampling on
the property has produced gold values ranging up to 998 ppb that are highly correlated with pathfinder
elements, such as Bizmuth and Arsenic, which are typically associated with Intrusion Related Gold
Deposits. Additional information on the RC Gold Property is available on th e Company’s website at
www.sitkagoldcorp.com.
Figure 3: Regional Location of the RC Gold Property
Additional Updates
In August 2019, Sitka Gold Corp, through its wholly owned subsidiary Arctic Copper C orp, conducted
a Gravity Survey on its Coppermine River Property located near Kugluktuk, Nunavut. This was done
to follow up on a single -line Gravity anomaly associated with sediment -hosted copper mineralization
discovered in 2015 at the Copper Leaf showi ng. The 2019 survey confirmed that the anomaly
extends for at least 400 metres north of the 2015 survey line. The Company believes this anomaly
may be associated with a large sediment-hosted copper deposit and has determined that a modest
first-phase drilling campaign is now warranted to confirm this hypothesis.
The Company also announces it has issued 500,000 shares and paid $50,000 cash to Coelton
Ventures Ltd. as per the option agreement dated September 21, 2018 on its Burro Creek Gold
Property which contains the Burro Gold Deposit (the “Burro Deposit”) and is located in Mohave
County, Arizona, USA. Sitka Gold Corp. can acquire a 100% interest in the Burro Creek Property by
issuing 5 million shares, making cash payments totaling $1,000,000 USD and incu rring exploration
and development expenditures totaling $4,000,000 USD over a seven year period. The underlying
vendors will retain a 3% NSR (2% of which can be purchased by making cash payments totaling
$1,100,000 USD) and will receive a payment of $500 U SD per month to be included in , and not in
addition to, the royalty payments.
Footnotes:
1 https://www.vitgoldcorp.com/projects/development/eagle-gold-project/
2 http://www.goldenpredator.com/projects/brewery-creek-mine/
3 http://resourceclips.com/2012/03/08/am-gold-reports-yukon-red-mountain-property-gold-resource/
4 https://www.kinross.com/operations/#americas-fortknox
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,
an option to acquire a 100% interest in the Burro Creek Gold property in Arizona and owns a 100%
interest in its Coppermine River project in Nunavut and the Alpha Gold property in Nevada. Directors
and Management own approximately 28% of the outstanding shares of Sitka Gold, 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
or
Peter MacLean
Director
604-781-8513
The technical content of this news release has been reviewed and approved by Donald Penner,
P.Geo, Director and President for the Company, and a Qualified Person as defined by National
Instrument 43-101.
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”, “pote ntial”, “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. Thes e 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 shou ld 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.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the
CSE) accepts responsibi lity for the adequacy or accuracy of this release. No stock exchange,
securities commission or other regulatory authority has approved or disapproved the information
contained herein.