Sitka Gold Corp. (CSE: SIG) (FSE: 1RF) has confirmed through fine chemical analysis 4 primary pathfinder elements from the two drill cores on its Alpha Gold Project in Nevada. These are the same elements that are typically found in Carlin-type gold deposits.
The strong Pathfinder anomalies combined with broad zones of gold and intense alteration in the two most recent holes clearly indicated a Carlin-type gold system, the company said in a statement. Surface mapping and structural interpretations indicate a strike length of approximately 5 kilometers along two north-northwest structures (Figure 1). Grab samples along these targets have identified additional pronounced surface alteration. This surface alteration intensifies on both targets in a south-southeast direction. The company is now awaiting approval to drill further along these targets, which will be interpreted as the high grade core zones of this Carlin-type gold system.
Cor Coe, P.Geo., Director and CEO of Sitka Gold said, "The combination of broad anomalous gold intercepts, alteration and strong, coincident anomalies from Carlin Pathfinder elements underscores our conclusion that we are dealing with a Carlin-type gold system."
Figure 1: The Alpha Gold map shows the two previous wells, AG 21-02 and AG 21-03, as well as the new target zones. Both of the previous drill holes are now believed to be on the edge of the core mineralization of a Carlin-style deposit. By evaluating surface samples, two parallel structures up to 5 kilometers long have now been discovered, which will be the new main target for future drilling.
Conclusion: The dream of a great Carlin-style gold discovery is not over for Sitka. On the contrary: the chemical analyzes of pathfinder elements have just confirmed the Carlin hypothesis. Sitka has identified two main targets for future drilling, up to 3 miles long, in which the Company believes are the core zones of mineralization. Permits usually do not take long in Nevada, so Sitka will probably begin new drilling in the next few weeks. A drilling success with larger intervals of >1 gram gold per ton would be a "game changer" for Sitka. The big neighbors in the Cortez trend like Barrick and Kinross will certainly follow the further development carefully. We will stay on the ball, too.
Disclaimer: GOLDINVEST Consulting GmbH offers editors, agencies and companies the opportunity to publish commentaries, analyses and news on http://www.goldinvest.de. This content serves exclusively to inform the readers and does not represent any kind of call to action, neither explicitly nor implicitly, and is not to be understood as an assurance of any price development. Furthermore, it does not in any way replace individual expert investment advice and does not constitute an offer to sell the share(s) discussed or a solicitation to buy or sell securities. This is expressly not a financial analysis, but an advertising / journalistic text. Readers who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. No contractual relationship is established between GOLDINVEST Consulting GmbH and its readers or the users of its offerings, as our information only relates to the company and not to the reader's investment decision.
The purchase of securities involves high risks which can lead to the complete loss of the capital invested. The information published by GOLDINVEST Consulting GmbH and its authors is based on careful research. Nevertheless, any liability for financial losses or the guarantee of the topicality, correctness, adequacy and completeness of the articles offered here is expressly excluded.
In accordance with §34b WpHG and § 48f Abs. 5 BörseG (Austria) we would like to point out that GOLDINVEST Consulting GmbH and/or partners, principals or employees of GOLDINVEST Consulting GmbH hold shares in Sitka Gold and therefore a conflict of interest exists. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares in the company at any time. Furthermore, a contractual relationship exists between Sitka Gold and GOLDINVEST Consulting GmbH which involves GOLDINVEST Consulting GmbH reporting on Sitka Gold. This is another clear conflict of interest.