VANCOUVER, British Columbia, Oct. 07, 2022 (GLOBE NEWSWIRE) -- Sitka Gold (CSE:SIG) (FSE:1RF) (OTCQB:SITKF) has reported assays from the first two drill holes at its Alpha Gold Property in Nevada. Sitka Gold holds a 100% interest in the 4,780-acre Alpha Gold Project, located along the southeast projection of the prolific Cortez Gold Trend in Eureka County, approximately 135 kilometres southwest of Elko, Nevada. The project, approximately 2 km west of Nevada State Highway 278, is easily accessible via a dirt road.
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Holes AG22-09 and AG22-10, completed during the ongoing 2022 drilling program, are part of a planned 1,500 meter drilling program, with drilling at hole AG22-12, which is a step-out located 5,600 m along trend from AG22-10, currently underway.
Alteration and mineralization observed in AG22-11 and AG22-12 indicate that the scale of this Carlin-type gold system is over six kilometres in strike length. Assays for AG22-11 and AG22-12 are currently pending.
Hole AG22-09 returned 10.7 metres of 0.51 grams per tonne gold. Hole AG22-10 returned 21.3 metres of 1.21 grams per tonne gold starting at 211.8 metres, including 13.7 metres of 1.52 grams per tonne gold from 217.9 metres and 1.5 metres of 4.62 grams per tonne gold from 225.6 metres.
Results from AG22-09 and AG22-10 have significantly widened and strengthened gold mineralization related to the NNW structural trend defined by surface mapping and prior drilling. Gold mineralization in AG22-10 occurred in the Horse Canyon Equivalent horizon near the Devils Gate Limestone contact. Lithologic logs from the hole and surface mapping indicate a larger offset normal fault occurs west of the hole and remains untested.
The hole confirmed that AG21-08 was well out on the east limb of the now better-defined NNW anticline and indicates continued strong potential to the west. Three previous drill programs totaling 2604 meters in 8 holes have been completed at Alpha Gold since its acquisition and have advanced the property from an undrilled geologic concept with a surface alteration and pathfinder element anomaly, to a large wide-open Carlin-type gold system with thick, low-grade gold intercepts.
The company is currently conducting its 4th drill program on the property.
Sitka is currently awaiting assay results for 10 diamond drill holes from its recently completed Phase II summer diamond drill program at its RC Gold Project in the Yukon. The RC Gold Project, a contiguous district-scale land package, consists of 376 square kilometres or 92,900 acres. It is strategically positioned mid-way between Victoria Gold's Eagle Gold Mine, which is Yukon's newest gold mine having reached commercial production in the summer of 2020, and Sabre Gold Mine's Brewery Creek Gold Mine.
The company is well funded with its shares trading at $0.15. For more information about this project and the company’s other projects in the Yukon, Arizona, Nevada and Nunavut, please visit the company’s website at www.SitkaGoldCorp.com, contact Donald Penner, President, at 778-212-1950 or by email at dpenner@SitkaGoldCorp.com, or Cor Coe, CEO, at 604-817-4753, or email ccoe@SitkaGoldCorp.com.
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