Tickers: XCNQ:SIG, XOTC:SITKF, PINX:SITKF, FRAA:1RF
Tags: #Mining
VANCOUVER, CANADA - TheNewswire - February 3rd, 2020 - Sitka Gold Corp. ("Sitka" or the "Company") (CNSX:SIG.CN) (FSE:1RF) is pleased to announce it has sent ALS Laboratories the second shipment of drill core for analysis from its ongoing diamond drill program at its Burro Creek Gold Property located in Arizona. The shipment contains drill core samples from BC20-060 & BC20-061. These are the first step-out holes along a newly constructed road south of the previously drilled gold and silver mineralization. These holes lie 75m SSE of BC19-057 which was drilled within the Burro Creek historic gold-silver resource area. (See news release dated November 12, 2019). BC20-060 intercepted the Burro Vein at 42.28-52.91m and BC20-061 intercepted it down dip at 99.85-123.35m. Both holes are vertical with BC20-061 40m ENE of BC20-060. These holes define a very strong presence of the Burro Vein at the south margin of the historic resource and north edge of the Mobile Metal Ion (MMI) geochemical survey grid. Drilling and field observations indicate the vein should continue SSE on the strike and dip established by BC20-060 and BC20-061. The MMI gold anomaly manifests in the footwall rocks and not in late to post mineral hanging wall volcanic rocks, so the vein projection follows the east margin of the MMI anomaly. BC20-062 is currently being drilled 50m SSE of BC20-061 to continue offsetting the vein on the indicated strike and is penetrating weak, clay-hematite-carbonate veinlet alteration characteristic of the Burro Vein hanging wall. Road building is ongoing to continue offsetting the Burro Vein SSE in 50-100m increments.
Donald Penner, President and Director, comments: "We are very pleased to be advancing the drilling along the MMI gold anomaly within the projection of the Burro Gold Vein and are looking forward to the assay results of these latest drill holes."
Sitka Gold Corp. is a mineral exploration company headquartered in Canada and managed by a team of experienced mining industry professionals. The Company is focused on exploring for economically viable mineral deposits with its primary emphasis on gold, silver and copper mineral properties of merit. Sitka currently has an option to acquire a 100% interest in the RC Gold property in the Yukon, an option to acquire a 100% interest in the Burro Creek Gold property in Arizona and owns a 100% interest in its Coppermine River project in Nunavut and the Alpha Gold property in Nevada. Directors and Management own approximately 25% of the outstanding shares of Sitka Gold, a solid indication of their alignment with shareholders' interests.
The scientific and technical disclosure of this news release has been approved by Cor Coe, P.Geo., Director and CEO of the Company, and a Qualified Person (QP) as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS OF
For more information contact:
President & Director
778-212-1950
or
CEO & Director
604-817-4753
Cautionary and Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. Forward-looking statements and information are often, but not always, identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the expected timing and terms of the private placement, use of proceeds, anticipated work program, required approvals in connection with the work program and the ability to obtain such approvals. Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.
The forward-looking statements and information contained in this news release are made as of the date of this news release and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the CSE. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
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