Further Increases To Land Holdings At Alpha Gold in Nevada

VANCOUVER - Sitka Gold Corp. reported on drill holes of the drill program at the Alpha Gold Project located at the southeast end of the Cortez Trend in northern Nevada.  Five drill holes were completed during this latest phase of drilling for a total of 1,553 meters. In addition, subsequent to receiving and incorporating these latest results into its geological model, an additional 125 claims have been staked to cover high-priority target areas, with newly mapped, prospective alteration and structure on trend with the recent drilling. These new claims more than double the Project’s land holdings and join the northwest and southeast Alpha Gold claim blocks creating a contiguous property of 239 claims totaling approximately 1,934 hectares.

The Alpha Gold Project has advanced rapidly at modest cost, 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, from wide-spaced drilling.  Intercepted gold grades have improved as basic controls of the system have begun to be understood. This is reflected in drill hole AG21-08 where gold intervals over one gram per tonne were encountered.  Considering the early-stage, relatively blind nature of the target, the strength of mineralization encountered thus far and rate of progression at Alpha are extremely encouraging.  Many lateral offset targets on newly discovered gold-bearing structures with excellent potential to reveal higher grades are already apparent from this year’s drilling.  Success on an early-stage geologic concept play also comes with a nearly wide-open land domain. Geologic mapping across areas south and east of the drilling has identified continuing alteration and structural trends extending from the existing land position. Consequently, an additional 125 claims have been staked to cover this ground more than doubling the project land holdings.  

Surface alteration extends between large Eocene rhyolite flow dome features and the structural trend is locally defined by deeper stratigraphic exposures characteristic of eroded anticlinal uplifts.  This represents the first detailed mapping undertaken in this area, made possible by improved knowledge of the complex stratigraphy derived from the drilling.  Depths to key target horizons are estimated to be relatively modest in comparison to similar, better known, covered or blind Carlin-type exploration plays around the Cortez and Carlin trends.  Sitka now holds 239 contiguous claims covering multiple highly prospective targets for discovery and offset of Carlin-type gold mineralization.  The priority will be to better define gold mineralization patterns and find higher grades with more drilling in the current NW Alpha area.  The information gathered from this will assist in successful targeting and drilling in the newly staked ground where permitting is currently underway.

Donald Penner, President and Director, said, “We are very pleased to report positive drill results from this latest phase of drilling at Alpha Gold. Having intervals of greater than one gram per tonne of gold with only eight drill holes completed across two phases of drilling in a large, newly identified area within the projection of the Cortez trend is extremely encouraging. It also underscores the importance of using a disciplined exploration approach to follow up on Carlin-type exploration targets in a highly prospective area. Staking claims contiguous with our existing claims has now doubled the size of our project and enabled us to secure additional highly prospective ground identified from the exploration work completed to date. With our $6.4 million financing completed this year, Sitka is well positioned to continue advancing Alpha Gold.”