VANCOUVER, CANADA – August 2nd, 2018: Sitka Gold Corp. (CSE: SIG) (the “Company” or “Sitka”) announces that the third drill hole has been completed on its Adobe Gold Project located 40km north of Elko, Nevada. The Company is exploring for Carlin-type gold mineralization in an area of the Adobe Range Mountains that has the necessary structural/stratigraphic features and geochemical signature for such potential mineralization to occur at depth on a district scale.
Reverse circulation drill hole A18-03 was drilled southeast at azimuth 135°, -69° degrees inclination to test for gold mineralizaton in the Lower Tripon Pass/Upper Guilmette Formation. The hole was drilled to a total depth of 1180 feet (359.65 metres).
Drill hole A18-03 encountered Tripon Pass sediments from collar to total depth of 1180 feet (359.65m). Weakly calcareous shale dominated down to 480 feet (146.30m) hosting intervals of carbonate veining varying from 2-7%. Weakly calcareous siltstone was intersected at 480 feet (146.30m) and alternated with minor siliceous intervals down to 1090 feet (332.22m). An intermediate dike with calcite and pyrite veinlets occurs from 245-250 feet (74.67-76.20m). From 875-1090 feet (266.67-332.22m) it is mainly silty laminated limestone with very fine-grained sooty, potentially arsenical pyrite varying from 1-8 % near the top of this interval and 1-4% throughout the remainder of the interval. An aphanitic felsic dike with sericite alteration and quartz-calcite-pyrite micro-breccia occurs within the sample interval from 970-975 feet (295.64- 297.17m). The remainder of the hole intersected interbedded chert and calcareous mudstone and laminated silty limestone containing 1-2% pyrite. Drilling was successful in reaching the lower portion of the targeted Tripon Pass unit and Company personnel were encouraged with the presence of sulfide minerals.
Scott Price, VP Exploration comments: “From 875’ to 1090’, A18-03 intersected an excellent section of very platy, calcareous siltstone and silty limestone; classic Carlin-type, host rock with anomalous sulfide content. This new, much shallower target certainly merits further assessment.”
The samples have been shipped to Actlabs in Kamloops, BC for assay and Sitka will await the results to guide further drilling. The location of drill holes A18-01 and A18-02, and A18-03 are shown on the attached map (Figure 1). Figures can also be viewed on Sitka’s website (www.sitkagoldcorp.com).
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 and copper mineral properties of merit. Sitka currently has an option to acquire a 100% interest in the Adobe gold property in Nevada and owns a 100% interest in its Coppermine River project in Nunavut and the Alpha Gold property in Nevada. The Company is currently drilling its Adobe Gold Property with funds raised from its recent Initial Public Offering that was fully subscribed for $1.2M.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SITKA GOLD CORP.
“Donald Penner”
President and Director
For more information contact:
Donald Penner
President & Director
dpenner@sitkagoldcorp.com
or
Cor Coe
CEO & Director
604-817-4753
ccoe@sitkagoldcorp.com
or
Peter MacLean
Director
604-781-8513
petergmaclean@hotmail.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward Looking Information
Certain statements included herein may constitute “forward-looking statements”. All statements included in this press release that address future events, conditions or results, including in connection with exploration activity, future acquisitions and any financing, are forward-looking statements. These forward-looking statements can be identified by the use of words such as “may”, “must”, “plan”, “believe”, “expect”, “estimate”, “think”, “continue”, “should”, “will”, “could”, “intend”, “anticipate” or “future” or the negative forms thereof or similar variations. These forward-looking statements are based on certain assumptions and analyses made by management in light of their experiences and their perception of historical trends, current conditions and expected future developments, as well as other factors they believe are appropriate in the circumstances. These statements are subject to risks, uncertainties and assumptions, including those mentioned in the Company’s continuous disclosure documents, which can be found under its profile on SEDAR (www.sedar.com). Many of such risks and uncertainties are outside the control of the Company and could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In making such forward-looking statements, management has relied upon a number of material factors and assumptions, on the basis of currently available information, for which there is no insurance that such information will prove accurate. All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Figure 1: Drill Hole Location Map
