Post by likeike on Mar 15, 2024 19:52:02 GMT
Sitka Gold Provides Update on its North American Gold, Silver and Copper Assets
SITKF
0.00%
CNW Group
Thu, March 14, 2024 at 5:47 a.m. PDT·24 min read
In this article:
SITKF
0.00%
VANCOUVER, BC, March 14, 2024 /CNW/ - Sitka Gold Corp. ("Sitka" or the "Company") (TSXV:SIG) (FSE:1RF) (OTCQB:SITKF) is pleased to provide project updates for its portfolio of Gold, Silver and Copper properties located in proven, mining friendly jurisdictions in North America (see Figure 1).
Sitka's project portfolio includes the RC Gold project ("RC Gold") and OGI project ("OGI") located in Yukon, the Alpha Gold project ("Alpha Gold") located in Nevada, the Burro Creek project ("Burro Creek") located in Arizona and the Coppermine River project ("Coppermine River") located in Nunavut. Sitka's projects vary from grassroots and discovery stage properties to advanced stage projects that include the recent discovery of a significant gold deposit at its RC Gold project which is open for expansion in all directions. The Company's primary focus for 2024 is on its flagship RC Gold project where an initial inferred gold resource of 1.34 million ounces of gold (1) was recently announced and a winter diamond drilling program focused on expansion of this resource is currently underway. Results from drilling at the Alpha Gold Project in Nevada have been received and key permits have also recently been secured to allow for drilling at the Burro Creek project in Arizona and the Coppermine River project in Nunavut.
Sitka Gold Corp. is a well-funded mineral exploration company headquartered in Canada with approximately $7.5 million in the treasury. The company recently began trading on the TSX Venture Exchange (TSX-V) and delisted from the Canadian Securities Exchange (CSE).
Figure 1: Location map of Sitka Gold’s mineral properties (CNW Group/Sitka Gold Corp.)
Figure 1: Location map of Sitka Gold’s mineral properties (CNW Group/Sitka Gold Corp.)
"Since its inception, Sitka's goal was to curate a portfolio of highly prospective mineral properties that would provide diversification across key target minerals and mining friendly jurisdictions", said Cor Coe, Director and CEO of Sitka. "Having accomplished that, Sitka spent the past several years systematically advancing these properties through varying stages of exploration. The results of these efforts have led to multiple discoveries and milestones, the most recent being the advancement of RC Gold from a discovery hole to an initial mineral resource estimate of 1.34 million ounces of gold within just 12 months. With our main focus on growing that resource towards critical mass while exploring the several additional drill ready targets at RC Gold ripe for discovery, we are also excited to continue our exploration efforts at Alpha Gold where we have discovered a large Carlin-type gold system that has the potential to host a significant gold resource similar to other other deposits along the Cortez-trend where over 50 million ounces of gold has been discovered to date. With drill permits now in hand for Coppermine River and Burro Creek, along with a treasury of approximately $7.5 million, Sitka is well positioned to further unlock the potential within its mineral portfolio and create additional shareholder value."
RC Gold, Yukon
The Company is currently conducting a winter diamond drilling program at its year-round road accessible RC Gold Project in Yukon as part of a 15,000 metre diamond drilling program planned for 2024. Recently drilled core from DDRCCC-24-057 where drilling is currently underway can be viewed in Figure 4. Current drilling is focused on stepping out from Hole 47 that was drilled in 2023 south of the current Blackjack gold deposit (900,000 ounces of gold at a grade of 0.83 g/t; see news release dated January 19, 2023). Hole 47 contained the best gold mineralized intersection to date on the property, returning 219.0 m of 1.34 g/t gold including 124.8 m of 2.01 g/t gold and 55.0m of 3.11 g/t gold. Drilling in 2024 will continue to focus on expanding the recently discovered Blackjack and Eiger gold deposits (with Eiger hosting 440,000 ounces of gold at a grade of 0.50 g/t, see news release dated January 19, 2023) that are approximately 1.5 kilometres apart (see Figures 2 and 3). Drilling will also be targeted to expand the Saddle Zone, located midway between the Blackjack and Eiger deposits, where the largest and strongest gold-in-soil anomaly on the property is located (see Figures 2 and 3) along with other prospective areas within the 386 square kilometre contiguous property that hosts 9 known intrusions that are all known to be gold bearing from previous work.
Figure 2: 3D rendering of the Blackjack and Eiger gold deposits. These deposits remain open in all directions, are approximately 1.5 km apart and have the potential to be linked together as they appear to emanate from a common intrusive source at depth. 2023 drilling intersected gold mineralization outside of the current resource outlined in yellow. (CNW Group/Sitka Gold Corp.)
Figure 2: 3D rendering of the Blackjack and Eiger gold deposits. These deposits remain open in all directions, are approximately 1.5 km apart and have the potential to be linked together as they appear to emanate from a common intrusive source at depth. 2023 drilling intersected gold mineralization outside of the current resource outlined in yellow. (CNW Group/Sitka Gold Corp.)More
Figure 3: Plan map of the Northern Extent of the Clear Creek Intrusive Complex where several drill intervals and surface samples have demonstrated the high-grade nature of the Reduced Intrusion Related Gold System present. Yellow stars indicate where outcrop rock samples or drill hole intervals have returned >10 g/t gold. Several additional targets with the potential to host intrusion related gold deposits of significant size and grade have yet to be drilled within this approximately 3 km x 5 km (CNW Group/Sitka Gold Corp.)
Figure 3: Plan map of the Northern Extent of the Clear Creek Intrusive Complex where several drill intervals and surface samples have demonstrated the high-grade nature of the Reduced Intrusion Related Gold System present. Yellow stars indicate where outcrop rock samples or drill hole intervals have returned >10 g/t gold. Several additional targets with the potential to host intrusion related gold deposits of significant size and grade have yet to be drilled within this approximately 3 km x 5 km (CNW Group/Sitka Gold Corp.)More
Figure 4: Drill core from hole DDRCCC-24-057 where drilling is currently underway. This is the first drill hole of the 15,000 metre diamond drill program planned for 2024 at RC Gold. Pictured is megacrystic feldspar quartz monzonite cut by sheeted quartz-arsenopyrite veining. (CNW Group/Sitka Gold Corp.)
Figure 4: Drill core from hole DDRCCC-24-057 where drilling is currently underway. This is the first drill hole of the 15,000 metre diamond drill program planned for 2024 at RC Gold. Pictured is megacrystic feldspar quartz monzonite cut by sheeted quartz-arsenopyrite veining. (CNW Group/Sitka Gold Corp.)
The project is located a two hour drive east of Dawson City and is accessed via the Klondike Highway and a network of industrial roads that service placer mines in the area. The RC Gold Property is located within the Tombstone Gold Belt (TGB) which is host to two producing mines, Kinross's Fort Knox Mine in Alaska and Victoria Gold's Eagle Mine in Yukon located approximately 50 kilometres east of RC Gold. The TGB has produced several significant new gold discoveries in recent exploration including the Blackjack and Eiger deposits at Sitka's RC Gold Project, Snowline Gold's Valley Gold deposit discovery, Banyan Gold's Aurmac deposit discovery and Victoria Gold's Raven deposit discovery.
Alpha Gold, Nevada
The Alpha Gold property lies 40 km SSE of Nevada Gold Mines' Cortez complex, including the Pipeline, Cortez Hills and Goldrush tier one gold deposits and is located at the southeast end of the Cortez trend (Figure 5). Four holes totaling 1027.3 m were drilled in the 2023 program at Alpha (see Figure 6). The 2023 drilling and previous drilling produced broad gold intervals with abundant Carlin pathfinder elements in strong Carlin-type alteration in all drill holes (see Table 1).
Figure 5: Alpha Gold Property Location. The Alpha project was staked after discovering the Alpha anticline on projection and parallel to the Cortez trend with felsic dikes and Carlin-type alteration and pathfinders on the surface along its axis. Analogous anticlines are important controls in the Pipeline, Cortez Hills, and Goldrush/Fourmile gold mines at the NNW end of the Cortez trend. (CNW Group/Sitka Gold Corp.)
Figure 5: Alpha Gold Property Location. The Alpha project was staked after discovering the Alpha anticline on projection and parallel to the Cortez trend with felsic dikes and Carlin-type alteration and pathfinders on the surface along its axis. Analogous anticlines are important controls in the Pipeline, Cortez Hills, and Goldrush/Fourmile gold mines at the NNW end of the Cortez trend. (CNW Group/Sitka Gold Corp.)More
The 2023 drilling and previous widely spaced drilling demonstrate that gold mineralization appears continuous along the 2.5 km segment of the Alpha anticline with encouraging evidence of higher-grade zones. An additional 4.5 km segment of the Alpha anticline continuing SSE to Frazier Creek remains untested by drilling. Four initial surface rock chip samples at Frazier Creek returned up to 0.775 g/t gold, greatly surpassing all surface gold from the Alpha NW area highlighting the potential of this area.. Drilling and geologic modelling continues to support a large Carlin-type gold system with extremely prospective untested targets and excellent potential for discovery of a high-grade core zone.
Table 1 – Alpha NW Drill Results greater than 0.2 g/t gold 2021 to 2023. Wide spaced drilling at Alpha has continued to intersect broad gold intervals.
SITKF
0.00%
CNW Group
Thu, March 14, 2024 at 5:47 a.m. PDT·24 min read
In this article:
SITKF
0.00%
VANCOUVER, BC, March 14, 2024 /CNW/ - Sitka Gold Corp. ("Sitka" or the "Company") (TSXV:SIG) (FSE:1RF) (OTCQB:SITKF) is pleased to provide project updates for its portfolio of Gold, Silver and Copper properties located in proven, mining friendly jurisdictions in North America (see Figure 1).
Sitka's project portfolio includes the RC Gold project ("RC Gold") and OGI project ("OGI") located in Yukon, the Alpha Gold project ("Alpha Gold") located in Nevada, the Burro Creek project ("Burro Creek") located in Arizona and the Coppermine River project ("Coppermine River") located in Nunavut. Sitka's projects vary from grassroots and discovery stage properties to advanced stage projects that include the recent discovery of a significant gold deposit at its RC Gold project which is open for expansion in all directions. The Company's primary focus for 2024 is on its flagship RC Gold project where an initial inferred gold resource of 1.34 million ounces of gold (1) was recently announced and a winter diamond drilling program focused on expansion of this resource is currently underway. Results from drilling at the Alpha Gold Project in Nevada have been received and key permits have also recently been secured to allow for drilling at the Burro Creek project in Arizona and the Coppermine River project in Nunavut.
Sitka Gold Corp. is a well-funded mineral exploration company headquartered in Canada with approximately $7.5 million in the treasury. The company recently began trading on the TSX Venture Exchange (TSX-V) and delisted from the Canadian Securities Exchange (CSE).
Figure 1: Location map of Sitka Gold’s mineral properties (CNW Group/Sitka Gold Corp.)
Figure 1: Location map of Sitka Gold’s mineral properties (CNW Group/Sitka Gold Corp.)
"Since its inception, Sitka's goal was to curate a portfolio of highly prospective mineral properties that would provide diversification across key target minerals and mining friendly jurisdictions", said Cor Coe, Director and CEO of Sitka. "Having accomplished that, Sitka spent the past several years systematically advancing these properties through varying stages of exploration. The results of these efforts have led to multiple discoveries and milestones, the most recent being the advancement of RC Gold from a discovery hole to an initial mineral resource estimate of 1.34 million ounces of gold within just 12 months. With our main focus on growing that resource towards critical mass while exploring the several additional drill ready targets at RC Gold ripe for discovery, we are also excited to continue our exploration efforts at Alpha Gold where we have discovered a large Carlin-type gold system that has the potential to host a significant gold resource similar to other other deposits along the Cortez-trend where over 50 million ounces of gold has been discovered to date. With drill permits now in hand for Coppermine River and Burro Creek, along with a treasury of approximately $7.5 million, Sitka is well positioned to further unlock the potential within its mineral portfolio and create additional shareholder value."
RC Gold, Yukon
The Company is currently conducting a winter diamond drilling program at its year-round road accessible RC Gold Project in Yukon as part of a 15,000 metre diamond drilling program planned for 2024. Recently drilled core from DDRCCC-24-057 where drilling is currently underway can be viewed in Figure 4. Current drilling is focused on stepping out from Hole 47 that was drilled in 2023 south of the current Blackjack gold deposit (900,000 ounces of gold at a grade of 0.83 g/t; see news release dated January 19, 2023). Hole 47 contained the best gold mineralized intersection to date on the property, returning 219.0 m of 1.34 g/t gold including 124.8 m of 2.01 g/t gold and 55.0m of 3.11 g/t gold. Drilling in 2024 will continue to focus on expanding the recently discovered Blackjack and Eiger gold deposits (with Eiger hosting 440,000 ounces of gold at a grade of 0.50 g/t, see news release dated January 19, 2023) that are approximately 1.5 kilometres apart (see Figures 2 and 3). Drilling will also be targeted to expand the Saddle Zone, located midway between the Blackjack and Eiger deposits, where the largest and strongest gold-in-soil anomaly on the property is located (see Figures 2 and 3) along with other prospective areas within the 386 square kilometre contiguous property that hosts 9 known intrusions that are all known to be gold bearing from previous work.
Figure 2: 3D rendering of the Blackjack and Eiger gold deposits. These deposits remain open in all directions, are approximately 1.5 km apart and have the potential to be linked together as they appear to emanate from a common intrusive source at depth. 2023 drilling intersected gold mineralization outside of the current resource outlined in yellow. (CNW Group/Sitka Gold Corp.)
Figure 2: 3D rendering of the Blackjack and Eiger gold deposits. These deposits remain open in all directions, are approximately 1.5 km apart and have the potential to be linked together as they appear to emanate from a common intrusive source at depth. 2023 drilling intersected gold mineralization outside of the current resource outlined in yellow. (CNW Group/Sitka Gold Corp.)More
Figure 3: Plan map of the Northern Extent of the Clear Creek Intrusive Complex where several drill intervals and surface samples have demonstrated the high-grade nature of the Reduced Intrusion Related Gold System present. Yellow stars indicate where outcrop rock samples or drill hole intervals have returned >10 g/t gold. Several additional targets with the potential to host intrusion related gold deposits of significant size and grade have yet to be drilled within this approximately 3 km x 5 km (CNW Group/Sitka Gold Corp.)
Figure 3: Plan map of the Northern Extent of the Clear Creek Intrusive Complex where several drill intervals and surface samples have demonstrated the high-grade nature of the Reduced Intrusion Related Gold System present. Yellow stars indicate where outcrop rock samples or drill hole intervals have returned >10 g/t gold. Several additional targets with the potential to host intrusion related gold deposits of significant size and grade have yet to be drilled within this approximately 3 km x 5 km (CNW Group/Sitka Gold Corp.)More
Figure 4: Drill core from hole DDRCCC-24-057 where drilling is currently underway. This is the first drill hole of the 15,000 metre diamond drill program planned for 2024 at RC Gold. Pictured is megacrystic feldspar quartz monzonite cut by sheeted quartz-arsenopyrite veining. (CNW Group/Sitka Gold Corp.)
Figure 4: Drill core from hole DDRCCC-24-057 where drilling is currently underway. This is the first drill hole of the 15,000 metre diamond drill program planned for 2024 at RC Gold. Pictured is megacrystic feldspar quartz monzonite cut by sheeted quartz-arsenopyrite veining. (CNW Group/Sitka Gold Corp.)
The project is located a two hour drive east of Dawson City and is accessed via the Klondike Highway and a network of industrial roads that service placer mines in the area. The RC Gold Property is located within the Tombstone Gold Belt (TGB) which is host to two producing mines, Kinross's Fort Knox Mine in Alaska and Victoria Gold's Eagle Mine in Yukon located approximately 50 kilometres east of RC Gold. The TGB has produced several significant new gold discoveries in recent exploration including the Blackjack and Eiger deposits at Sitka's RC Gold Project, Snowline Gold's Valley Gold deposit discovery, Banyan Gold's Aurmac deposit discovery and Victoria Gold's Raven deposit discovery.
Alpha Gold, Nevada
The Alpha Gold property lies 40 km SSE of Nevada Gold Mines' Cortez complex, including the Pipeline, Cortez Hills and Goldrush tier one gold deposits and is located at the southeast end of the Cortez trend (Figure 5). Four holes totaling 1027.3 m were drilled in the 2023 program at Alpha (see Figure 6). The 2023 drilling and previous drilling produced broad gold intervals with abundant Carlin pathfinder elements in strong Carlin-type alteration in all drill holes (see Table 1).
Figure 5: Alpha Gold Property Location. The Alpha project was staked after discovering the Alpha anticline on projection and parallel to the Cortez trend with felsic dikes and Carlin-type alteration and pathfinders on the surface along its axis. Analogous anticlines are important controls in the Pipeline, Cortez Hills, and Goldrush/Fourmile gold mines at the NNW end of the Cortez trend. (CNW Group/Sitka Gold Corp.)
Figure 5: Alpha Gold Property Location. The Alpha project was staked after discovering the Alpha anticline on projection and parallel to the Cortez trend with felsic dikes and Carlin-type alteration and pathfinders on the surface along its axis. Analogous anticlines are important controls in the Pipeline, Cortez Hills, and Goldrush/Fourmile gold mines at the NNW end of the Cortez trend. (CNW Group/Sitka Gold Corp.)More
The 2023 drilling and previous widely spaced drilling demonstrate that gold mineralization appears continuous along the 2.5 km segment of the Alpha anticline with encouraging evidence of higher-grade zones. An additional 4.5 km segment of the Alpha anticline continuing SSE to Frazier Creek remains untested by drilling. Four initial surface rock chip samples at Frazier Creek returned up to 0.775 g/t gold, greatly surpassing all surface gold from the Alpha NW area highlighting the potential of this area.. Drilling and geologic modelling continues to support a large Carlin-type gold system with extremely prospective untested targets and excellent potential for discovery of a high-grade core zone.
Table 1 – Alpha NW Drill Results greater than 0.2 g/t gold 2021 to 2023. Wide spaced drilling at Alpha has continued to intersect broad gold intervals.