Vancouver, British Columbia--(Newsfile Corp. - September 20, 2021) - Sitka Gold (CSE: SIG) (FSE: 1RF) (OTCQB: SITKF) has provided an update on the current drill program at it Alpha Gold Project. The 100%-owned Alpha Gold Project is located along the southeast projection of the prolific Cortez Gold Trend in Eureka County, approximately 135 kilometres southwest of Elko, Nevada.
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The project comprises 2 claim blocks totalling 114 lode claims covering an area of approximately 2280 acres, or 923 hectares, and is accessible via a dirt road, approximately 2 kilometers west of Nevada State Highway 278.
This phase of drilling is designed to test southeastward extensions of the Carlin-Type gold system that was identified earlier this year in holes AG21-02 & 03. Assay and geochemical results have been received for AG21-04 and 05.
AG21-04, collared 510 metres southeast of AG21-02, intersected strong intervals of jasperoid, decalcification, silicified mudstone, and skeletal silica after decalcified limestone in the Horse Canyon equivalent unit and uppermost Devils Gate Limestone. From 224 to 290 metres, the hole encountered a set of dikes or sills not evident on surface. Sample intervals contained up to 25% pyrite and sooty pyrite in both the dike rocks and silicified and decalcified, mudstone and limestone wall rocks.
This zone spanned the Horse Canyon Equivalent to Devils Gate contact. The interval had anomalous gold with a high of 0.13 grams per tonne and averaged 622 ppm arsenic over 66 metres. Peak pathfinder values included 3580 ppm arsenic, 22.7 ppm mercury, 185 ppm antimony, and 52.1 ppm thallium. These results and the associated alteration are much stronger than anything seen on surface and are very strong representations of a Carlin-type alteration system.
AG21-05 stepped out 910 metres south of AG21-04 encountered highly fractured rock related to faulting throughout its entire length in the Devonian Shale and then hit karst cavities below, resulting in the drill pipe becoming stuck and abandoned at 131metres. The last 12.19 metres, or 40 feet, of the hole averaged 0.41 g/t gold going into the upper part of the Horse Canyon Equivalent unit. Strong Carlin-Type pathfinder element concentrations occurred throughout much of the hole, including 502 ppm arsenic, 3.76 ppm mercury, 544 ppm antimony, and 10.4 ppm thallium.
Cor Coe, P.Geo., CEO, stated: "Results at Alpha Gold continue to demonstrate the potential for a Carlin-Type gold deposit to be hosted within the Project area. While hole AG21-05 was lost just as it was entering the targeted horizon, the results received from the bottom of this hole showed increasing gold values and produced our best gold intercept to date. AG21-07 was successful in testing through the targeted horizon from the same pad as AG21-05 so we are quite excited to see what the results from that hole will bring along with the rest of our pending assays. Drilling is currently underway on hole AG21-08 as we continue to systematically pursue the most probable high-grade zones of this Carlin-type gold system."
The company is well-funded, having recently completed $6.37 million in financing.
For more information about this project and the company's other projects in the Yukon, Arizona, and Nunavut, please visit the company's website at www.SitkaGoldCorp.com, contact Donald Penner, President, at 778-212-1950 or by email at dpenner@SitkaGoldCorp.com, or Cor Coe, CEO, at 604-817-4753, or email ccoe@SitkaGoldCorp.com.
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