InvestmentPitch Media Video Discusses Sitka Gold’s Drill Results Expanding Extent of Gold Mineralization in Strong Carlin-Type Alteration to 2.5 km at its Alpha Gold Project in Nevada
Sitka Gold (CSE:SIG, FSE:1RF, OTCQB:SITKF) announced on February 23, 2023, expanded gold mineralization at its Alpha Gold Project in Nevada, increasing the extent to 2.5 km. The final two drill holes of the 2022 program showed significant Carlin-Type alteration. Notable results include AG22-10 with 21.3 metres of 1.21 g/t gold. However, AG22-12 faced mechanical issues and was abandoned at 416 metres. The Alpha Gold Project spans 4,780 acres along the Cortez Gold Trend. Sitka's shares are trading at $0.115, and they have also received assay results from their RC Gold Project, reporting an inferred resource of 1,340,000 ounces grading 0.68 g/t.
- Expansion of gold mineralization at Alpha Gold Project to 2.5 km.
- Drill results show significant gold grades, notably AG22-10 with 21.3 metres of 1.21 g/t gold.
- Reported Initial Inferred Mineral Resource Estimate of 1,340,000 ounces of gold at RC Gold Project.
- AG22-12 drilling abandoned due to mechanical breakdowns and adverse weather.
- Progress issues on AG22-12 prevented reaching the targeted critical rock horizon.
VANCOUVER, British Columbia, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Sitka Gold (CSE:SIG) (FSE:1RF) (OTCQB:SITKF) has released results from the final two drill holes of the 2022 drill program, expanding extent of gold mineralization in strong Carlin-Type alteration to 2.5 km at its Alpha Gold Project in Nevada.
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 comments about this news from Mike Burke, B.Sc., P.Geo., 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.
Sitka Gold holds a
A total of 1,374.7 metres in four holes, AG22-09 to 12, were completed in 2022. In October, the company released the first two holes, with Hole AG22-09 returning 10.7 metres of 0.51 g/t gold and Hole AG22-10 returning 21.3 metres of 1.21 g/t gold starting at 212 metres, including 13.7 metres of 1.52 g/t gold and 1.5 metres of 4.62 g/t gold. AG22-11 intersected 12.2 metres of 0.50 g/t gold including 1.5 metres of 2.32 g/t gold within strong Carlin-type alteration. This was a 940 metre step-out south-southeast of AG22-10, expanding the extent of gold mineralization in strong Carlin-type mineralization intersected in drilling to 2.5 km within the 8 km north-northwest trending target zone.
AG22-12 was drilled 5.6 km south of AG22-10 at the southern extent of the target zone in the Frazier Creek area. Gold was more anomalous in AG22-12 than it was in AG22-11 in the shale cap rock above the host horizon. Progress on the hole was plagued by mechanical breakdowns and challenging hole conditions and as severe winter weather set into the area, the hole was abandoned at 416 metres, before reaching the critical Horse Canyon Equivalent host rock horizon, its targeted objective.
Surface alteration at Frazier Creek is visually the strongest on the Alpha Gold property with a 2 km strike length of continuous alteration interpreted as leakage from a potential Carlin-type gold system at depth. Valuable information obtained from this first drill hole and the extensive alteration on surface confirms Frazier Creek as a high priority target. Peak gold grades in Carlin-type systems generally occur where ore fluids, optimal host rock, and highly fractured or brecciated zones intersect.
Moving north, the company’s flagship RC Gold Project is a contiguous district-scale land package, consisting of 376 square kilometres, in the heart of Yukon's highly prospective Tombstone Gold Belt. 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. Sitka has received all assay results from its 2022 diamond drill program at its RC Gold Project and recently announced a 43-101 compliant Initial Inferred Mineral Resource Estimate of 1,340,000 ounces of gold beginning at surface and grading 0.68 g/t.
The company is well funded with its shares trading at
For more information about this project and the company’s other projects in the Yukon, Arizona, Nunavut, and Nevada, 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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