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Sitka Gold Signs Drilling Contract and Plans Mobilization for its Alpha Gold Property in Nevada
VANCOUVER, BC, Oct. 24, 2023 /CNW/ - Sitka Gold Corp. ("Sitka" or the "Company") (CSE: SIG) (FSE: 1RF) (OTCQB: SITKF) is pleased to announce that it has signed
About this update from Sitka Gold Corp.
[{"type":"text","content":" VANCOUVER, BC, Oct. 24, 2023 /CNW/ - Sitka Gold Corp. (\"Sitka\" or the \"Company\") (CSE: SIG) (FSE: 1RF) (OTCQB: SITKF) is pleased to announce that it has signed a contract with Midnight Sun Drilling Inc., a highly reputable drill contractor with over 50 years of experience, to carry out the next phase of drilling at its Alpha Gold Property located at the southeast end of the Cortez Trend, 40 kilometres southeast of the Nevada Gold Mines Cortez Mine Complex in Nevada. The company believes that there is significant potential for high grade gold mineralization within structures at the Horse Canyon Equivalent/Devil's Gate contact and drilling designed to test these structures is expected to commence about November 1st. \"We are very excited to follow up on the successful results of last year's work at Alpha Gold where drilling returned the best results to date and also significantly expanded the known footprint of the Carlin-type gold system we discovered(1)\", stated Cor Coe, CEO and Director of Sitka. \"Results from each successive round of drilling at Alpha Gold have continued to support our geological modeling and demonstrate that Alpha Gold has the geological framework required for the discovery of a major Carlin-type gold deposit. Drilling this year is designed to systematically test key target horizons within host rock that is present along the roughly 7.5 km NNW anticline trend at Alpha Gold. Recent interpretation of the drilling and surface work done to date has revealed that this new target area is the most probable zone to host gold values greater than 5 g/t and we aim to verify that potential with this upcoming drill program.\" (1) see news releases dated October 06, 2022 and February 22, 2023 Figure 1 shows the Alpha target concept in cross-section format at AG21-08 (15.2m @ 0.46g/t Au) and AG22-10 (21.3m @ 1.21g/t Au) where it is best defined by drilling. These holes define the east limb of an anticline approximately located by early surface mapping. Gold grade increases up-limb to the west. A surface mapped normal fault then drops the section down to the west. No drilling has yet tested the down-dropped side of this fault or the hinge and west limb of the anticline. The current, evolving exploration model anticipates peak grades in the hinge zone which should be characterized by more intense fractur...