VANCOUVER, CANADA – January 11, 2021: Sitka Gold Corp. (“Sitka” or the “Company”) (CSE:SIG) (FSE:1RF) is pleased to provide a summary of progress and accomplishments made over the past 12 months of activity and an overview of planned exploration programs for 2021 at its Burro Creek Property in Arizona, its Alpha Gold Property in Nevada and its RC Gold and OGI Projects in Yukon.
Recap and Highlights of 2020
- During the past year, Sitka raised over $3.0 million via two separate private placement financings and shareholders’ exercise of warrants
- The Company completed significant exploration drilling programs throughout the year on its Yukon, Arizona, and Nevada projects
- In January, the Company completed the acquisition of the Mahtin Property, which expanded the size of the RC Gold Project in Yukon over twelve-fold, from 2600 hectares to 32,842 hectares (328 square kilometers)
- In January, the Company continued the drill program that was underway at its Burro Creek Gold Property in Arizona and in April, the Company announced the results of the its Phase 1 drilling program at Burro Creek which included 10 diamond drill holes with highlighted intersections such as 11.70 m of 3.23 g/t gold and 72.86 g/t silver (see news releases dated January 17th and April 14, 2020) and also confirmed the extension of the Burro Creek vein as out lined by the surface gold anomaly
- In June the Company drilled the first deep diamond drill hole ever to be drilled at its Alpha Gold Property in Nevada, and in September, announced the results of this drill hole including the intersections of anomalous gold and coincident mercury which the Company believes could be leakage from a Carlin-type gold system at depth
- In late June and early July the Company announced the acquisition of two additional underlying property agreements at its RC Gold Project in Yukon with the acquisition of the Barney Ridge and Clear Creek Properties, bringing the total area of the RC Gold Project to over 345 square kilometers (34,500 hectare or 85,000 acres)
- In July the Company began its inaugural 1500 metre diamond drill program on its RC Gold Project in Yukon and in August the Company announced the acquisition of the OGI Property in Yukon
- In September the Company completed 4 reverse circulation (RC) drill holes at the OGI Silver-Zinc Property in Yukon, the first drill holes to ever be drilled there; results are currently pending
- In September the Company completed its 1500 metre, 6 diamond drill hole, exploration program at RC Gold as well as the collection of 531 soil samples and 140 m of trenching and subsequently announced the results of this program including three new gold discoveries and exceptional intersections of gold such as 100 metres of 0.82 g/t gold and a separate interval (not part the aforementioned section) of 2 metres of 16.1 g/t gold, both from diamond drill hole DDRCCC20-002 (see news release dated December 16, 2020)
- In October, the Company staked additional claims to cover highly prospective ground adjacent to its RC Gold Project, bringing this district-scale land package to 376 contiguous square kilometres, solidifying the RC Gold Project as the most dominant land assembly between Victoria Gold’s Eagle Gold Mine and Golden Predator’s Brewery Creek Gold Mine in the highly fertile Tombstone Gold Belt in Yukon
- In October the Company completed 42 sq-km of airborne LiDAR imagery over priority target areas of the RC Gold Project
- In November the Company staked an additional 27 claims at Alpha Gold in Nevada to cover a newly identified Carlin-type gold deposit target and subsequently applied to the Bureau of Land Management (BLM) for a permit for up to 5 drill hole sites on this new claim block; the permit was recently received as announced in the Company’s January 7, 2021 news release
- During the year the Company presented at AMEBC Roundup in Vancouver, the PDAC convention in Toronto, the Metals Investment Forum (MIF) in Vancouver and several other conferences that have switched to virtual platforms including New Orleans, Metals Investment Forum and the Mines and Money Online conference; the CEO and President also attended interviews with numerous newsletter writers and analysts who have taken an interest in Sitka
Cor Coe, CEO and Director, stated: “Sitka’s list of accomplishments this past year are quite remarkable and would not have been possible without the extraordinary drive and focus of our highly experienced management team. We raised over $3 million last year and were able to deploy some of those funds to complete four separate drill programs on four separate properties located in Nevada, Arizona and Yukon during a time when newly enacted travel and work restrictions made for very challenging project logistics. The successful results we have produced this year further highlight management’s abilities to identify highly prospective gold and silver targets. The impressive new gold discoveries made during the inaugural drill program at our RC Gold Property in Yukon is further testimonial to the expertise of this team and I would like to thank them and all the project staff and contractors who contributed to the successful completion of our numerous exploration programs throughout 2020. Moving forward, our primary objective in 2021 is to follow up on the discoveries we have made at Burro Creek, RC Gold and Alpha Gold with additional drilling coupled with the integration of historical data and further surface sampling, mapping, geophysics, and ground and satellite-based multi-spectral imagery in order to rapidly advance our most prospective targets and ultimately develop new mineral resources in these proven and productive mining jurisdictions. The Company is well positioned to capitalize on what is shaping up to be a very eventful and exciting exploration year and is already starting to fulfill its 2021 objectives with a drill program at Alpha Gold scheduled to commence in the next few weeks.”
About Sitka Gold Corp.
Sitka Gold Corp. is a mineral exploration company headquartered in Canada and managed by a team of experienced mining industry professionals. The Company is focused on exploring for economically viable mineral deposits with its primary emphasis on gold, silver and copper mineral properties of merit. Sitka currently has an option to acquire a 100% interest in the RC, Barney Ridge, Clear Creek and OGI properties in Yukon and the Burro Creek Gold property in Arizona. Sitka owns a 100% interest in its Alpha Gold property in Nevada, it’s Mahtin Gold property in the Yukon and it’s Coppermine River project in Nunavut. Directors and Management own approximately 15% of the outstanding shares of Sitka Gold Corp., a solid indication of their alignment with shareholders’ interests.
The scientific and technical content of this news release has been reviewed and approved by Cor Coe, P.Geo., Director and CEO of the Company, and a Qualified Person (QP) as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SITKA GOLD CORP.
“Donald Penner”
President and Director
For more information contact:
Donald Penner
President & Director
778-212-1950
dpenner@sitkagoldcorp.com
or
Cor Coe
CEO & Director
604-817-4753
ccoe@sitkagoldcorp.com
Cautionary and Forward-Looking Statements
This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. Forward‐looking statements and information are often, but not always, identified by the use of words such as “appear”, “seek”, “anticipate”, “plan”, “continue”, “estimate”, “approximate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “would” and similar expressions.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the expected timing and terms of the private placement, use of proceeds, anticipated work program, required approvals in connection with the work program and the ability to obtain such approvals. Accordingly, readers should not place undue reliance on the forward‐looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.
The forward‐looking statements and information contained in this news release are made as of the date of this news release and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the CSE. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
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