Now the drills are turning: as recently announced, Sitka Gold (CSE SIG / FSE 1RF) has started drilling on the Alpha Gold property in Nevada. The project is located at the southern end of the well-known Cortez Trend and only about 40 kilometers southeast of the Cortez Mine Complex of the Newmont / Barrick joint venture Nevada Gold Mines. This complex includes the Pipeline, Cortez Hills and Gold Rush mines.
Promisingly, similar stratigraphy and structure can be observed along trend to the Alpha Gold property. And Sitka has already demonstrated Carlin-type mineralization and strong alteration here.
The Company believes there is significant potential for high-grade gold mineralization within the structures at the Horse Canyon/Devil’s Gate contact. This is the uppermost horizon of potentially gold-bearing mineralization. Sitka will now follow up on this theory with up to five drill holes totaling approximately 1,500 meters.
“Our systematic and disciplined approach to exploration at Alpha Gold has resulted in increasingly better gold intercepts and a clearer understanding of where we are within this very large Carlin-type gold system,” said Cor Coe, Director and CEO of Sitka. “Our geological modeling has evolved tremendously since the initial discovery of this system and we believe the targets established for this drill campaign provide the ideal framework for the discovery of a multi-million ounce Carlin-type gold deposit at a mineable depth.”
Conclusion: The moment of truth is approaching, even if it will take a few weeks or months until Sitka has completed the drilling in Nevada and the results are back from the laboratory. If the geologists' theory is confirmed, Alpha Gold could be a game changer for the company, which is known to have another - and more advanced - project with the potential for several million ounces of gold in its RC Gold project in the Yukon! We will keep our readers up to date.
Disclaimer: GOLDINVEST Consulting GmbH publishes comments, analyses and news on https://goldinvest.de. These contents serve exclusively the information of the readers and do not represent any kind of call to action, neither explicitly nor implicitly they are to be understood as an assurance of possible price developments. Furthermore, they do not in any way replace individual expert investment advice and do not constitute an offer to sell the stock(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. There is no contractual relationship between GOLDINVEST Consulting GmbH and its readers or the users of its offers, because our information refers only to the company, but not to the investment decision of the reader.
Pursuant to §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 of Sitka Gold and therefore a conflict of interest exists. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares of the company at any time. Furthermore, GOLDINVEST Consulting GmbH is remunerated by Sitka Gold for reporting on the company. This is another clear conflict of interest.