Sitka GOLD Provides Year End Review of 2022 Exploration Activities
NEWS RELEASE
January 03, 2023
NR 23-01
www.sitkagoldcorp.com
SITKA GOLD PROVIDES YEAR END REVIEW OF 2022
EXPLORATION ACTIVITIES
VANCOUVER,
CANADA
–
January
03,
2023:
Sitka
Gold
Corp.
(“Sitka”
or
the
“Company”)
(CSE:SIG)
(FSE:1RF)
(OTCQB:SITKF)
is
pleased
to
provide
a
summary
of
progress
and
accomplishments
made
over
the
past
12
months
of
exploration
activity
and
an
overview of planned exploration programs for 2023.
The Following is a Recap and Highlights of 2022 Exploration:
A
total
of
3
drill
programs
in
Yukon
and
Nevada
expanded
and
confirmed
the
significance
of
the
2021
drilling
discoveries
of
an
intrusion-related
gold
system
at
the
RC
Gold
Project
and
a
Carlin-type gold system at the Alpha Project.
At
the
RC
Gold
Project
in
Yukon,
a
6,500
metre,
20-hole
drill
program,
consisting
of
a
Phase
1
winter
diamond
drill
program
and
a
Phase
2
summer
diamond
drilling
program
were
completed
at
the
Blackjack
discovery.
The
Blackjack
discovery
was
made
in
the
final
hole
of
the
2021
drill
season
where
Hole
21
intersected
221
metres
of
1.17
g/t
gold
within
a
Tombstone
Suite
intrusion.
2022
drilling
intersected
similar
widths
and
grades
of
intrusive-hosted
mineralization
significantly
expanding
the
Blackjack
discovery.
In
addition,
drilling
stepped
out
from
the
intrusion
into
surrounding
metasedimentary
host
rocks
intersecting
distal
gold-bearing
vein
type
mineralization.
The
Blackjack
zone
remains
open
in
all
directions
and
drilling
in
2023
will
continue
to
focus
on
expanding
the
zone
both
within
the
intrusive and in the surrounding metasedimentary rocks.
Additional
work
completed
at
the
RC
Gold
Project
included
initial
bottle
roll
metallurgical
testing
which
confirmed
the
non-refractory
characteristics
of
the
gold
mineralization
and
returned
gold
extraction
rates
up
to
94%.
An
airborne
magnetic
geophysical
survey
over
portions
of
the
project
area
was
completed
in
addition
to
a
LiDAR
survey.
Prospecting
and
sampling
continued
on
the
project.
A
new
30-person
all-season
camp
was
constructed
to
support
future
winter
and
summer
drilling
programs.
The
RC
Gold
Project
is
a
large
376
square
kilometre
property
and
a
single
drill-hole
was
completed
in
the
May-Qu
intrusion-hosted gold target located 28 kilometres from the Blackjack zone.
In
Nevada
a
4-hole,
1375
metre
drill
program
was
completed
on
the
Alpha
project.
The
drilling
program
continued
to
confirm
the
geological
model
used
to
target
this
under-explored
area
of
the
Cortez
Trend
is
host
to
Carlin-type
gold
mineralization.
Drilling
intersected
Carlin-style
mineralization
and
alteration
and
the
grades
and
widths
encountered
in
the
2022
drilling
continued
to
increase
from
previous
programs.
Drill
hole
AG22-10
encountered
the
most
significant
gold
mineralization
to
date
intersecting
21.5
metres
of
1.21
g/t
Au
including
a
peak
value
of
4.62
g/t
Au
over
1.5
metres.
In
addition,
the
alteration
and
mineralization
observed
in
drill
holes
AG22-11
and
-12
significantly
expanded
the
known
footprint
of
this
system
with
their
massive
step
outs
of
940
m
and
5,600
m
respectively
SSE
from
AG22-10.
Geological
information
from
the
drilling
program
in
addition
to
surface
geological
mapping
have
resulted
in
significant
upgrades
to
the
geologic
map
of
the
project
area
and
several
new
high
priority
drill
targets.
Approval
of
the
Frazier
Creek
drill
permit
in
the
southern
area
of the project was also
received in 2022.
Assays
are
pending
for
the
final
drill
holes
of
the
2022
drilling
at
the
RC
Gold
project
as
well
as the final drill holes for the Alpha Gold project.
At
the
OGI
property
in
Yukon
a
600
station
soil
grid
sampling
program
was
completed
following
up
on
a
previously
identified
gold-in-soil
anomaly.
Permitting
for
drilling
at
the
Burro
Creek project in Arizona and the Coppermine project in Nunavut is ongoing.
Sitka
Gold
Corp.
is
focused
on
discovery
and
2022
has
shown
that
the
company
can
successfully
advance
geological
concepts
to
discoveries
as
evidenced
at
the
Blackjack
discovery
in
Yukon
and
the
Alpha
discovery
in
Nevada.
The
Company
will
continue
to
leverage
its
strong
technical
team
and
operational
expertise
to
efficiently
deploy
exploration
funds
amongst
its
portfolio
of
gold,
silver
and
copper
projects
located
in
premier
jurisdictions
in
North
America.
The
Company
would
like
to
thank
its
dedicated
shareholders
and
investors
who
supported
the
company
with
over
$8
million
raised
in
financings
through
2022.
With
a
healthy
treasury
and
a
portfolio
of
rapidly
advancing
assets,
the
Company
is
very
well
positioned as we head into the new year.
“
The
Company
had
an
exceptional
year
of
exploration
with
several
exciting
advancements
and
milestones
achieved
in
2022
,”
stated
Cor
Coe,
P.Geo,
CEO
and
Director
of
Sitka
Gold.
“
After
receiving
the
assay
results
of
our
Blackjack
zone
discovery
hole
(“Hole
21”)
at
RC
Gold
in
December
of
2021,
Sitka
was
able
to
immediately
follow
up
in
January
2022
with
a
first
ever
winter
diamond
drilling
program.
The
successful
completion
of
this
drilling
program
demonstrated
the
ability
to
operate
year
round
at
RC
Gold
and
confirmed
that
the
Blackjack
discovery
was
ripe
for
expansion.
Results
from
winter
drilling
were
instrumental
in
the
design
of
an
aggressive
step-out
drill
program
for
the
summer
season
intended
to
further
expand
the
known
mineralization
at
Blackjack
and
build
bulk
tonnage.
Results
to
date
have
been
very
encouraging
and
demonstrate
that
the
Blackjack
zone,
which
is
still
open
in
all
directions,
has
the
scale,
continuity
and
grade
to
host
what
could
be
a
large
and
economically viable gold deposit.
“Additional
drilling
at
our
Alpha
Gold
project
in
Nevada
produced
our
best
gold
results
to
date
and
significantly
expanded
the
known
footprint
of
the
recently
discovered
Carlin-type
gold system.
“The
accomplishments
of
2022
are
a
direct
reflection
of
the
hard
work
and
dedication
of
the
outstanding
Sitka
Gold
team
and
I
would
like
to
thank
everyone
who
helped
us
reach
our
goals
last
year
including
our
supportive
shareholders
and
investors.
We
look
forward
to
building
on
these
latest
developments
in
2023
as
we
head
into
the
new
year
with
a
healthy
treasury
and
a
focus
on
creating
substantial
value
for
our
shareholders
through
a
proven
exploration approach.”
Upcoming Events
Sitka Gold will be attending and/or presenting at the following events:
●
Roundup, Vancouver, BC: January 23 - 26, 2023
●
Vancouver Resource Investment Conference: January 29 - 30, 2023
●
PDAC, Toronto, Ontario: March 5 - 8, 2023
All events are subject to change.
About Sitka Gold Corp.
Sitka
Gold
Corp.
is
a
well-funded
mineral
exploration
company
headquartered
in
Canada.
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
Gold
and
OGI
properties
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.
Sitka
is
currently
awaiting
additional
assay
results
from
its
recently
completed
Phase
II
summer
diamond
drill
program
at
its
RC
Gold
Project
in
the
Yukon.
The
Company
is
also
awaiting
results
from
a
recently
completed
drill
program
at
its
Alpha
Gold
Property
in
Nevada
where
a
new
Carlin-type
gold
system
was
recently
discovered
and
where
the
Company
is
focused on vectoring towards the high-grade core of this system.
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
Cautionary and Forward-Looking Statements
Neither
the
Canadian
Securities
Exchange
nor
its
Regulation
Services
Provider
(as
that
term
is
defined
in
the
policies
of
the
Canadian
Securities
Exchange)
accepts
responsibility
for
the
adequacy or accuracy of this release.
This
release
includes
certain
statements
and
information
that
may
constitute
forward-looking
information
within
the
meaning
of
applicable
Canadian
securities
laws.
Forward-looking
statements
relate
to
future
events
or
future
performance
and
reflect
the
expectations
or
beliefs
of
management
of
the
Company
regarding
future
events.
Generally,
forward-looking
statements
and
information
can
be
identified
by
the
use
of
forward-looking
terminology
such
as
“intends”
or
“anticipates”,
or
variations
of
such
words
and
phrases
or
statements
that
certain
actions,
events
or
results
“may”,
“could”,
“should”,
“would”
or
“occur”.
This
information
and
these
statements,
referred
to
herein
as
"forward
‐
looking
statements",
are
not
historical
facts,
are
made
as
of
the
date
of
this
news
release
and
include
without
limitation,
statements
regarding
the
terms
of
the
Offering
and
the
anticipated
use
of
proceeds
of
the
Offering.
Accordingly,
readers
should
not
place
undue
reliance
on
the
forward-looking
statements
and
information
contained
in
this
news
release.
Readers
are
cautioned
that
the
foregoing
list
of
factors is not exhaustive.
In
making
the
forward-looking
statements
in
this
news
release,
the
Company
has
applied
certain
material
assumptions,
including
without
limitation,
that
the
Company
will
complete
the
Offering and use the proceeds of the Offering as currently anticipated.
These
forward
‐
looking
statements
involve
numerous
risks
and
uncertainties
and
actual
results
might
differ
materially
from
results
suggested
in
any
forward-looking
statements.
These
risks
and
uncertainties
include,
among
other
things,
that
the
Company
will
not
receive
the
required
regulatory
approvals
or
approval
from
the
CSE
in
connection
with
the
Offering,
and that the Company will not use the proceeds of the Offering as currently anticipated.
Although
management
of
the
Company
has
attempted
to
identify
important
factors
that
could
cause
actual
results
to
differ
materially
from
those
contained
in
forward-looking
statements
or
forward-looking
information,
there
may
be
other
factors
that
cause
results
not
to
be
as
anticipated,
estimated
or
intended.
There
can
be
no
assurance
that
such
statements
will
prove
to
be
accurate,
as
actual
results
and
future
events
could
differ
materially
from
those
anticipated
in
such
statements.
Accordingly,
readers
should
not
place
undue
reliance
on
forward-looking
statements
and
forward-looking
information.
Readers
are
cautioned
that
reliance
on
such
information
may
not
be
appropriate
for
other
purposes.
The
Company
does
not
undertake
to
update
any
forward-looking
statement,
forward-looking
information
or
financial
out-look
that
are
incorporated
by
reference
herein,
except
in
accordance
with
applicable securities laws.