Drill Mobilized To Alpha Gold Project

VANCOUVER – Sitka Gold Corp. reported that a drill has been mobilized to the Company’s Alpha Gold Project, located at the southeast end of the Cortez Trend. The Company is permitted for a total of 16 drill sites across the Alpha Gold Project to follow up on updated geological mapping in its search for a buried Carlin-Type gold deposit along the Cortez Structural Trend. The geological information gained from drill hole AG20-01, completed last summer, enables this second drill hole to be collared much deeper in the stratigraphy, thereby increasing the likelihood of successfully reaching the Webb/Devil’s Gate Formation Lower Plate Limestone contact at a reasonable depth.  Furthermore, rock chip and surface geochemistry anomalous in gold and arsenic suggests upward migration of mineralized fluids along local faults, suggesting the presence of a gold system at depth.

Key updated geological highlights are as follows: Surface geochemistry up to 1.2 ppm gold and 7000 ppm arsenic shows a crude E-W trend, coincident with an E-W anticline axis in highly oxidized lower plate and basal Antler Foreland rocks; The E-W folding deforms older, more regional N-S folding, creating a fluid focus; There is evidence the lower plate window, west of the target, may have unroofed during the Antler orogeny, and remained elevated and oxidizing through much of its pre-Eocene history, removing primary pyrite and carbon from shallow host rocks and fluid conduits, thus diminishing their gold capture qualities during the Eocene mineralization event; and The E-W fold axis and late normal faulting make this an ideal location to test the lower plate to foreland clastic transition beneath rapidly eastward thickening Antler Foreland basin rocks where early oxidation has not compromised the host rocks.

CEO and Director, Cor Coe, said, “We are very excited to kick off the 2021 exploration season with follow-up drilling at our Alpha Gold project. This next drill hole will be collared much deeper in the stratigraphy and we are expecting to reach the contact zone at a much shallower depth than what was anticipated for AG20-01. With last year’s exploration results confirming our geological model and Alpha Gold’s ideal geological setting along the 50-million ounce Cortez Trend, management believes there is excellent potential for the discovery of a new Carlin-type gold deposit.”