InvestmentPitch Media Video Discusses Sitka Gold’s Drill Intercepts of up to 4.62 g/t gold at Alpha Gold Property in Nevada

Rhea-AI Summary

Sitka Gold (OTCQB:SITKF) announced drill results from two holes at its Alpha Gold Property in Nevada, revealing significant gold mineralization. Hole AG22-10 returned 21.3 meters at 1.21 g/t gold, including 4.62 g/t over 1.5 meters. The project spans 4,780 acres and is situated near the Cortez Gold Trend. Current drilling is part of a 1,500-meter program, with assays for further holes pending. The company is financially sound, with shares trading at $0.15. This ongoing exploration boosts the company's potential in the gold sector.

Positive

• Hole AG22-10 returned 21.3 meters of 1.21 g/t gold, including 4.62 g/t over 1.5 meters.
• Project consists of 4,780 acres located along the Cortez Gold Trend.
• Current drilling program is expanding gold mineralization at the site.
• Financially stable with shares priced at $0.15.

Negative

• Assay results for additional holes AG22-11 and AG22-12 are pending, creating uncertainty.
• Reported gold mineralization remains at lower grades, indicating potential limitations.

VANCOUVER, British Columbia, Oct. 07, 2022 (GLOBE NEWSWIRE) -- Sitka Gold (CSE:SIG) (FSE:1RF) (OTCQB:SITKF) has reported assays from the first two drill holes at its Alpha Gold Property in Nevada. Sitka Gold holds a 100% interest in the 4,780-acre Alpha Gold Project, located along the southeast projection of the prolific Cortez Gold Trend in Eureka County, approximately 135 kilometres southwest of Elko, Nevada. The project, approximately 2 km west of Nevada State Highway 278, is easily accessible via a dirt road.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

For more information, please view the InvestmentPitch Media video about this news and the company, along with video comments from Mike Burke, Director and VP Corporate Development. The video is available for viewing on “InvestmentPitch” and on “YouTube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “Sitka” in the search box.

Holes AG22-09 and AG22-10, completed during the ongoing 2022 drilling program, are part of a planned 1,500 meter drilling program, with drilling at hole AG22-12, which is a step-out located 5,600 m along trend from AG22-10, currently underway.

Alteration and mineralization observed in AG22-11 and AG22-12 indicate that the scale of this Carlin-type gold system is over six kilometres in strike length. Assays for AG22-11 and AG22-12 are currently pending.

Hole AG22-09 returned 10.7 metres of 0.51 grams per tonne gold. Hole AG22-10 returned 21.3 metres of 1.21 grams per tonne gold starting at 211.8 metres, including 13.7 metres of 1.52 grams per tonne gold from 217.9 metres and 1.5 metres of 4.62 grams per tonne gold from 225.6 metres.

Results from AG22-09 and AG22-10 have significantly widened and strengthened gold mineralization related to the NNW structural trend defined by surface mapping and prior drilling. Gold mineralization in AG22-10 occurred in the Horse Canyon Equivalent horizon near the Devils Gate Limestone contact. Lithologic logs from the hole and surface mapping indicate a larger offset normal fault occurs west of the hole and remains untested.

The hole confirmed that AG21-08 was well out on the east limb of the now better-defined NNW anticline and indicates continued strong potential to the west. Three previous drill programs totaling 2604 meters in 8 holes have been completed at Alpha Gold since its acquisition and have advanced the property from an undrilled geologic concept with a surface alteration and pathfinder element anomaly, to a large wide-open Carlin-type gold system with thick, low-grade gold intercepts.

The company is currently conducting its 4th drill program on the property.

Sitka is currently awaiting assay results for 10 diamond drill holes from its recently completed Phase II summer diamond drill program at its RC Gold Project in the Yukon. The RC Gold Project, a contiguous district-scale land package, consists of 376 square kilometres or 92,900 acres. It is strategically positioned mid-way between Victoria Gold's Eagle Gold Mine, which is Yukon's newest gold mine having reached commercial production in the summer of 2020, and Sabre Gold Mine's Brewery Creek Gold Mine.

The company is well funded with its shares trading at $0.15. For more information about this project and the company’s other projects in the Yukon, Arizona, Nevada 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.

Disclaimer

The information in this InvestmentPitch Media Ltd video is for the viewers information only. Sitka Gold has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by InvestmentPitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. InvestmentPitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

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FAQ

What are the latest drill results for Sitka Gold's Alpha Gold Property?

Sitka Gold reported that hole AG22-10 returned 21.3 meters at 1.21 g/t gold, while AG22-09 returned 10.7 meters at 0.51 g/t gold.

When was the press release about Sitka Gold's drilling at Alpha Gold Property issued?

The press release was issued on October 7, 2022.

How large is Sitka Gold's Alpha Gold Project in Nevada?

The Alpha Gold Project spans 4,780 acres.

Where is the Alpha Gold Property located?

It is located in Eureka County, Nevada, along the Cortez Gold Trend.

What is the current share price of Sitka Gold (SITKF)?

Sitka Gold's shares are currently trading at $0.15.