Sitka Gold Further Expands RC Gold Project in Yukon with Acquisition of Clear Creek Gold Property
NEWS RELEASE
July 6, 2020
NR 20-19
www.sitkagoldcorp.com
Sitka Gold Further Expands RC Gold Project in Yukon with
Acquisition of Clear Creek Gold Property
VANCOUVER, CANADA – July 6, 2020: Sitka Gold Corp. (“Sitka” or the “Company”) (CSE:SIG)
(FSE:1RF) is please d to announce that it has entered into an additional option agreement with
veteran prospector Bernie Kreft (“Kreft”) to acquire a 100% interest in the Clear Creek Gold Property
(“Clear Cre ek” or the “Property”) located adjacent to Sitka’s RC Gold Project approximately 110
kilometres east of Dawson City, Yukon.
Clear Creek Gold Property Highlights
• Road accessible claim block located in Yukon’s fertile Tombstone Gold Belt.
• Similar geology and regional proximity to several intrusion-related gold deposits including
Victoria Gold’s Eagle Gold Mine, Golden Predator’s Brewery Creek Gold Mine and AM Gold’s
Red Mountain Gold Deposit (located adjacent to Sitka’s RC Gold Project, see Figure 1)*.
• Claims are contiguous to Sitka’s RC Gold Project and Victoria Gold’s Clear Creek Project and
bring Sitka’s total claim holdings in the area to approximately 345.5 km2 (Figure 2).
• Located at the headwaters of Clear Creek, an active and prolific placer gold mining
district with several producing placer gold mines operating in and around the area.
• Previous rock samples from trace up to 319.5 g/t gold(1) and previous soil samples from trace
up to 4,384 ppb gold(2).
• Significant previous drilling intercepts include 88 m of 0.65 g/t gold (1) and 22 m of 1.24 g/t
gold(2).
• Active Class 3 Land Use Permit allows for a variety exploration activities including drilling,
trenching and road building.
*Mineralization h osted on nearby and/or adjacent properties is not necessaril y indicative of
mineralization hosted on the Company’s property.
Cor Coe, Director and CEO of Sitka, commented: “The Clear Creek Gold Property is an exceptional
addition to our district scale RC Gold Project located in Yukon’s prominent Tombstone Gold Belt. Past
work on Clear Creek has defined several mineralized zones with both bulk tonnage, intrusion-related
gold deposit targets and high -grade, vein and breccia hosted gold targets . We look forward to
conducting work on the Clear Creek Gold Property this summer as part of our 2020 exploration
program at the RC Gold Project.”
Figure 1 - Clear Creek Gold Property Location
Figure 2 - RC Gold Project (~345.5 km2)
About Clear Creek
The Clear Creek Gold Property has had intermittent exploration conducted since 1981. Previous work
on the Property has outlined several highly anomalous and extens ive gold in soil trends on the
margins of four intrusions (Figure 3) . These anomalies all show strong correlations with bismuth,
arsenic, tungsten and silver; sim ilar to geochemical signatures seen at Victoria Gold’s Eagle Gold
Project (Dublin Gulch) and Kinross’s Fort Knox. Historical rock samples from the Property have
returned values from less that 5 ppb up to 319.5 g/t gold (1). Many of the high grade samples collected
on the property are from sheeted quartz veins and quartz arsenopyrite veins often found within or on
the margins of the intrusions. Additionally, significant gold grades of up to 25.1 g/t gold have been
returned from metasediments with disseminatio ns and weak stockworks of pyrite and arsenopyrite.
Several significant intervals have also been recorded from the limited drilling and trenching work
completed on the Property returning less than 5 ppb up to 2.11 g/t gold over 25 metres from a trench
and 0.65 g/t gold over 88 meters (bottoming in 3.0 metres grading 1.296 g/t gold) from RC drilling(1).
Figure 3 - Clear Creek Intrusions Stocks and Mineralized Zones
In 2010, 1139.95 metres of reverse circulation drilling over 18 holes was completed (Figure 4). Eleven
holes were drilled over the Saddle zone totalling 731.52 metres (significant intersections are listed in
Table 1 below). Seven holes were drilled over the Josephine zone, however due to significant
subsurface water all holes were terminat ed bef ore reaching target depth (2). Due to permitting
restrictions at the time of the program, holes were spotted on (and relatively restricted to) roads rather
than geological merit.
Figure 4 - Clear Creek 2010 Drill Hole Locations
Table 1 - Clear Creek 2010 RC Drill Intersections, Saddle Zone(2)
Hole ID From (m) To (m) Interval Gold
(m) (g/t)
CC10-25 10.67 33.53 22.86 1.24
CC10-25 45.72 47.24 1.52 1.50
CC10-27 3.05 10.67 7.62 0.54
CC10-28 9.14 19.81 10.67 0.53
CC10-28 48.77 53.34 4.57 0.93
CC10-29 1.52 6.10 4.58 1.07
A soil sampling program was also completed in 2010 over a large portion of the Clear Creek Gold
Property. Roughly 600 samples were taken with approximately 50 of those returnin g values greater
than 180 ppb gol d. Highly anomalous gold clusters were exposed over the Eiger and Saddle zone s
with values from less than 5 ppb up to 4,384 ppb gold from Eiger(2) (Figure 5).
Figure 5 - Clear Creek 2010 Soil Sampling Survey
Deposit Model
Exploration on the Proper ty has predominately been focused on identifying an intrusion related gold
system (“IRGS”). The property is part of the Tombstone Gold Belt which is the prominent host to
IRGS deposits within the Tintina Gold Province in Yukon and Alaska. Notable deposits from the belt
include: Fort Knox mine in Alaska with current reserves of 282 million tonnes at 0.37 g/t Au (3.4
million ounces, not including 7.5 million ounces of past production; Fairbanks Gold Mining Inc.); Eagle
Gold mine with 155 million tonnes at a diluted grade of 0.65 g/t Au (3.26 million ounces; Victoria Gold
Corp., 2020); the Brewery Creek epizonal deposit with 17.17 million tonnes at a gold grade of 1.45 g/t
(0.726 million ounces; Barr, 2013); and the Red Mountain gold deposit, located adjacent to Sitka’s RC
Gold p roject, with 127 million tonnes grading 0.48 g/t (1.95 million ounces ; AM Gold Corp.; Cole,
2012)*.
*The disclosure above is strictly for deposit model comparisons and the mineralization hosted on
these properties is not indicative of mineralization hosted on the Company’s property.
(1) Huber, M. (November 10, 2018) 2018 Technical Report on the Clear Creek Property
(2) O'Brien, E. and Kreft, B., (2010): 2010 diamond drilling program Clear Creek property.
Acquisition Terms
The Company has the right to acquire a 100% interest in the Clear Creek claims by paying $230,000,
issuing 6 00,000 shares and completing $1,250 ,000 in exploration over 5 years. An additional
$200,000 is payable and 1,000,000 shares issuable upon Sitka publicly disclosing an Inferred Mineral
Resource or greater category of 750,000 ounces of gold or greater (as such term is defined in
National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”). The property
is subject to a 2% NSR, one -half of which can be purchased for $1,500,000 at anytime prior to
commencement of commercial production. The agreement is subject to regulatory approval.
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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