VANCOUVER, CANADA – March 03, 2022: Sitka Gold Corp. (“Sitka” or the “Company”) (CSE:SIG) (FSE:1RF) (OTCQB:SITKF) is pleased to announce that it has received approval from the Bureau of Land Management (BLM) to amend its existing drill permit at its Alpha Gold Project (“Alpha Gold” or the “Project”) to include areas of high geological potential on new claims that were staked last fall (Figure 1). The excellent results of the previous drilling program have pointed exploration to examine structures and areas of strong Carlin-Type alteration along a NNW-SSE structural trend that required additional permitting and bonding (see news release dated November 16, 2021).
This additional permitting allows Sitka to continue testing NNW-SSE trending structures in the new claim block and more specifically in the Frazer Creek area (see Figure 1) where Carlin-Type alteration at surface is strong. The Company is currently refining the location and number of drill holes for the next phase of drilling. All holes drilled to date at Alpha Gold have intersected strong Carlin-Type alteration with significant gold values and very strong pathfinder elements. The priority will be to better define gold mineralization patterns and find higher grades with more drilling in the Northwest Alpha area. Having compiled last year’s drill results and geologic mapping, increasingly attractive targets continue to develop. The information gathered from Northwest Alpha will assist in successful targeting and drilling in the newly staked Frazier Creek area where permitting has just been granted.
Cor Coe, P.Geo., CEO and Director of Sitka stated, “We are very pleased to have received the amendment to our drill permit which will now enable us to continue to explore and advance our Alpha Gold Project that is located within the projection of the fertile Cortez Trend where over 50 million ounces of gold has been discovered to date. The latest drilling completed in 2021 has underscored the prospectivity of the area to host a significant Carlin type gold deposit. 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. Substantially higher gold grades in each new phase of sampling and drilling at Alpha also underscore 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. Sitka is well funded and positioned to continue advancing Alpha Gold and we look forward to getting the drill turning there again.”
