Alpha Gold is located in the southeastern part of the famous Cortez gold trend and only about 40 kilometers southeast of the Nevada Gold Mines Cortez Complex (Nevada Gold Mines being a joint venture between Barrick Gold and Newmont.). Sitka has drilled a total of 1,374.65 meters there, spread over four holes, as part of the current drill program, which they are now reporting as completed.
CEO Cor Coe's company is targeting the so-called Horse Canyon Equivalent / Devil's Gate Limestone contact, the uppermost of several, gold-bearing, highly prospective rock horizons. And Sitka encountered strong alteration with all four holes of a type common in the Carlin trend of Nevada - one of the most prolific gold formations anywhere. Horse Canyon Equivalent / Devil's Gate Limestone represent Carlin-type sedimentary strata that elsewhere in the Cortez Trend host multi-million ounce gold deposits owned by Barrick & Co. These deposits have the advantage for industrial gold recovery that they are generally large and contiguous.
Provided by Sitka Gold
The two holes, AG22-09 and AG22-10, whose results Sitka released in early October, encountered up to 21.3 meters of 1.21 g/t gold, including 1.5 meters of 4.62 g/t gold, and 10.7 meters of 0.51 g/t gold, respectively. Sitka has already sent samples from the last two holes (AG22-11 and AG22-12) to a lab in Elko and is now awaiting results.
Conclusion: The results that Sitka released on Alpha Gold in October were already a breakthrough in our view, as they were the best intercepts reported to date from the gold system, the company has identified on the project. Should the Sitka now achieve similar or better results with the last two drill holes at Alpha Gold, this would be another milestone, in our opinion. After all, with these holes Sitka has stepped out a massive 940 and 5,600 meters respectively from hole AG22-10 to the south-southeast! And that significantly increases the already extraordinary potential for a large-volume deposit - of the Carlin type!
The company's drilling in Nevada has continuously achieved broader intercepts of mineralization with higher gold grades as Sitka moves toward the core of the recently discovered gold system. Already the visual impressions of the most recent drill core which has not yet been analyzed, have, according to Sitka CEO Coe, already greatly improved the company's understanding of the geological controls on this system, so they are also eagerly awaiting the results in order to be able to make plans for the next phase of drilling.
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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 which could affect the share price. Furthermore, GOLDINVEST Consulting GmbH is remunerated by Sitka Gold for reporting on the company. This is another clear conflict of interest.
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