Sitka Gold Mobilizes for Drill Program at RC Gold Project, Yukon
NEWS RELEASE
July 27, 2020
NR 20-22
www.sitkagoldcorp.com
Sitka Gold Mobilizes for Drill Program at RC Gold Project, Yukon
VANCOUVER, CANADA – July 27, 2020 : Sitka Gold Corp. (“Sitka” or the “C ompany”)
(CSE:SIG) (FSE: 1RF) is please d to announce that it has commenced mobilization of crew and
equipment to its RC Gold Project (“RC Gold” or “the Project”) , located approximately 110 kilometres
east of Dawson City, Yukon , in preparation of its inaugural diamond drill program. The Company is
also pleased to announce it has signed a diamond drilling contract with New Age Drilling, a repu table
and highly experienced Yukon based drill company. Drilling is anticipated to start on or about August
1st.
“We are very excited to be starting our drill program at the RC Gold Project, our district scale gold
project covering over 345 km 2 in Yukon’s prominent Tombstone Gold Belt within an area that has
been gaining more and more prominence as a fertile gold bearing region with the proven potential to
host large, economically viable gold deposits ,” said Cor Coe, CEO of Sitka. “ Sitka has consolidated
five underlying mineral properties, which together form the RC Gold Project, and in the process the
Company has acquired a huge database of exploration results that span the last 40 years. In the past
3 years alone, over $1.0 million has been spent on exploration primarily comprised of soil sampling,
geophysics, geological mapping and prospecting. This recent exploration wo rk and the compilation of
historical data has defined several mineralized zones with both bulk tonnage, intrusion -related gold
deposit targets and high -grade, vein and breccia hosted gold targets. The 2020 d rilling program will
focus on several coincident geophysical and geochemical gold anomalies identified over the past
three years of e xploration work on the never before drilled RC Gold p roperty as well as test several
historical drill intersections, trench results and gold in soil anomalies on the newly acquired Barney
Ridge and Clear Creek properties . The new access road that transects the land package has greatly
reduced the cost of exploration in the area and with the closing of Sitka’s recent $1.2 million financing
the Company is in a position to move forward and further advance this newly assembled, district scale
project. We are very much looking forward to the results of our first drill program at the RC Gold
Project.”
About the RC Gold Project
The RC Gold Project is a 345.5 km 2 district scale land package located in the newly road accessible
Clear Creek, Big Creek and Sprague Cre ek districts in the heart of Yukon's Tintina Gold Belt and
within the Tombstone Gold Belt. It is the largest consolidated land package strategically positioned
mid-way betw een Victoria Gold's Eagle Gold Mine, Canada’s newest gold mine which just reach
commercial production earlier this month, and Golden Predator's Brewery Creek Gold Mine, which
recently received Government and First Nation’s support for re-starting production (Figure 1). The RC
Gold Project land package is comprised of five underlying mining properties, namely; the RC Gold,
Bee Bop, Mahtin, Clear Creek and Barney Ridge Properties (Figure 2)*.
Sitka Gold has inherited a wealth of historical and current data from these properties that span the last
40 years . Recent exploration work and the compilation of historical data has defined several
mineralized zones with both bulk tonnage, intrusion -related gold deposit targets and high -grade, vein
and breccia hosted gold targets. The RC Gold Project also has a common border with Victoria Gold’s
Clear Creek p roperty at its western boundary and AM Gold’s Red Mountain property at its northern
boundary (Figure 2).*
*For more detailed information on the underlying propert ies please see news releases dated JULY 30, 2019, ‘SITKA ACQUIRES YUKON
GOLD PROPERTY’; DECEMBER 5, 2019, “SITKA GOLD DEFINES SEVERAL GOLD TARGETS AT THE RC GOLD PROPERTY,
YUKON”; JANUARY 14, 2020, “SITKA EXPANDS YUKON GOLD PROPERTY TO 32,842 CONTIGUOUS HE CTARES WITH MAHTIN
GOLD PROPERTY ACQUISITION”; JUNE 30, 2020, “SITKA GOLD EXPANDS RC GOLD PROJECT IN YUKON WITH ACQUISITION OF
BARNEY RIDGE GOLD PROPERTY” ; JULY 06, 2020, “SITKA GOLD FURTHER EXPANDS RC GOLD PROJECT IN YUKON WITH
ACQUISITION OF CLEAR CREEK GOLD PROPERTY”.
Figure 1 – RC Gold Project Location
Figure 2 - RC Gold Project (~345.5 km2)
Deposit Model
Exploration on the Property has predominately been focused on identifying an intrusion related gold
system (“IRGS”). The property is part of th e 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 0.6 5 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.
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, Bee Bop, 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 Ma htin 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.
The scientific a nd 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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