In a news release, Vancouver-based Sitka Gold Corp. (SIG:CSE; SITKF:OTCQB; 1RF:FSE) announced that it has "received assay results from recent drilling at its Alpha Gold Project located along the southeast projection of the prolific Cortez Gold Trend in Eureka County, approximately 135 km southwest of Elko, Nev."
The company advised that based upon these most recent results, it has staked 21 new mining claims, expanding the number of claims at the Alpha Gold project to 114 claims. The firm pointed out the 21 new claims provide complete coverage of a newly identified structural trend that is located east and southeast of drill hole AG21-03.
Sitka Gold Corp's CEO and Director Cor Coe commented, "The results from AG21-02 and AG21-03 have confirmed that we are in a gold enriched system associated with Carlin-type gold deposit mineralization...These broad intercepts of anomalous gold coincide with alteration and mineralization that is similar to what has been found at other gold deposits along the Cortez trend."
"This initial drilling has successfully upgraded the project from the level of a surface showing to what looks like the fringe of a strong Carlin-type gold system that is moving in a wide-open direction in an undrilled area...recent surface reconnaissance has discovered another structural trend to the southeast of AG21-03 that exhibits the strongest and most extensive alteration seen on the Project. We have expanded the Alpha Gold land package to cover this new target area and are looking forward to completing additional drilling immediately upon receiving BLM permits for the newly staked claim blocks," Coe added.
The firm indicated that the main target is a high-grade Goldrush analogue and that it has refined the list of targets for drilling based upon the assays received. The company discussed some of the recent test results and noted that hole AG21-02 returned 0.105 grams per tonne (g/t) gold over 93.0 meters (m), including 0.162 g/t Au over 12.2m and 0.164 g/t Au over 27.4m. In nearby hole AG21-03, gold intercepts measured 0.100 g/t Au over 57.9m, including 0.147 g/t Au over 24.4m.
The "initial drilling has successfully upgraded the project from the level of a surface showing to what looks like the fringe of a strong Carlin-type gold system that is moving in a wide-open direction in an undrilled area," the company stated.
On another project, the firm advised that it is in the process of organizing and mobilizing the field crew and equipment for deployment to its RC Gold Project in Yukon. The company stated that it plans to conduct up to 10,000 meters of diamond drilling at RC during this year's drilling season. "Drilling will focus primarily on the Saddle-Eiger Zone gold discovery with initial drilling planned to deepen DDRCCC-002 which bottomed in 16.1 g/t Au over 2 meters," the company stated.
Sitka Gold stated that it recently secured $6.37 million in financing and that its planned 2021 exploration programs are completely funded. In addition to the Alpha Gold property, Sitka noted that it owns a 100% interest in both the Mahtin Gold property in the Yukon and the Coppermine River project in Nunavut. The firm also holds options to acquire a 100% interest in four other properties in the Yukon and a gold property in Arizona.
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