Sitka Gold Corp Reflects on 2021 Discoveries, Outlines 2022 Exploration Plans
VANCOUVER, CANADA -- January 13, 2021 -- NewsGenie -- Sitka Gold Corp. (CSE:SIG) (CNSX:SIG.CN) (FSE:1RF) (OTC:SITKF) has released a summary of its 2021 progress and an overview of planned 2022 exploration programs at its RC Gold and OGI Projects in Yukon, Alpha Gold Property in Nevada, Burro Creek Property in Arizona and Coppermine River Project in Nunavut.
2021 marked a year of discovery for Sitka, particularly at the RC Gold Project in the Yukon and the Alpha Gold Project in Nevada.
At RC Gold, the final drill hole of the year, DDRCCC21-021, revealed a new high-grade gold zone, averaging 1.17 g/t gold from the surface to 220.1 m, including a 50 m interval of 2.08 g/t gold. These results indicate a structurally controlled, high-grade gold corridor within the intrusion-related gold system initially discovered in 2020.
At the Alpha Gold Project in Nevada, drill hole AG21-02 identified significant gold values in a new Carlin-type gold system discovery, characterized by strong alteration. Subsequent drilling yielded progressively better gold results, with hole AG21-05 averaging 0.4 g/t gold over 12.19 m and AG21-08 returning 15.24 m of 0.46 g/t gold, including higher-grade intervals. The Horse Canyon equivalent/Devil’s Gate target is relatively shallow, enabling cost-effective exploration.
Recap and Highlights of 2021 Exploration:
- Began trading on the OTCQB Venture Market (January 15th).
- Received assay results from RAB drilling at the OGI Property, with OGI-RAB-20-004 returning 5430 ppm Zn and 11.6 ppm Ag over 3 m (January 20th).
- Closed an oversubscribed $6.4 million financing (March 5th).
- Drilling at Alpha Gold commenced (February 16th), revealing strong Carlin-Type mineralization and alteration.
- Drilling began at the RC Gold Project in the Yukon (June 8th).
- The third phase of drilling began at Alpha Gold (July 8th), continuing to return significant Carlin-Type gold and pathfinder elements.
- Assays for the RC Gold Project began in mid-August, with highlights including 318 m of 0.45 g/t gold in DDRCCC21-07 and 0.41 g/t gold over 354 m in DDRCCC21-09.
- DDRCCC21-21 (Hole 21) at RC Gold revealed a new discovery, averaging 1.17 g/t gold over 220.1 m.
- Closed a $2.8 million Flow-Through financing (December 23rd), bringing the total raised in 2021 to $9.2 million.
- Awaiting final approval for drilling at the Burro Creek Property in Arizona.
- A permit application for drilling at the Coppermine River Project in Nunavut is being compiled.
Plans for Exploration in 2022:
- Sitka has contracted New Age Drilling Solutions for 10,000 m of drilling.
- A winter drill program at RC Gold will follow up on the high-grade gold mineralization in DDRCCC21-021, commencing by the end of January.
- The drill permit at Alpha Gold is being amended for the next exploration phase in Q2.
- A diamond drill program is planned for the OGI silver-zinc property based on geophysics survey results.
- Drilling programs at Burro Creek and Coppermine River are anticipated upon permit receipt.
Cor Coe, CEO, stated that the focus for 2022 will be defining the extent of the gold system at RC Gold and pursuing higher-grade zones at Alpha Gold. The company is fully funded to aggressively follow up on these discoveries and continue exploration efforts on its other mineral assets.
Sitka Gold Corp. is focused on exploring for economically viable mineral deposits, with properties in Yukon, Nevada, Arizona and Nunavut.