Extent Of Gold Mineralization Expanded In Strong Carlin-Type Alteration At The Alpha Gold Project
VANCOUVER - Sitka Gold Corp. reported on the drill program at the Alpha Gold Project located on the southeast projection of the Cortez gold trend. A total of 1,374.7 meters (m) in four holes (AG22-09 – AG22-12) were completed in 2022. AG22-11 intersected 12.2 m of 0.50 g/t gold including 1.5 m of 2.32 g/t gold within strong Carlin-type alteration. The hole was a 940m step-out south-southeast of AG22-10 which intersected 21.3 m of 1.21 g/t gold including 1.5 m of 4.62 g/t gold (see news release dated October 6, 2022) expanding the extent of gold mineralization in strong Carlin-type mineralization intersected in drilling to 2.5 km within the 8 km north-northwest trending target zone.
Cor Coe, P.Geo., CEO and Director, said, “The results from our final drill holes of 2022 are very encouraging and continue to demonstrate the potential of this area to host one or more significant Carlin-type gold deposits as seen at other locations along the Cortez trend. The intercept from AG22-11 is particularly exciting as it expanded the extent of known Carlin-type gold mineralization an additional 940 meters from Hole 10 and suggests proximity to a potential high-grade core zone. This was an important step in confirming the mineralization trend considering there is no significant gold in surface alteration. Further, while Hole 12 did not reach its target depth, the gold present in the cap rock above the targeted host horizon was more anomalous than in Hole 11 and suggests the host rock in this location could be higher-grade in nature. With 2.5 km of potential strike length delineated by our drilling in 2021 and 2022, the next step at Alpha will be locating the anticline crest and core of the gold mineralization with additional cross trend drilling aimed at finding higher-grade gold zones similar to those that have made the Cortez trend famous.”
AG22-12 was drilled 5.6 km south of AG22-10 at the southern extent of the target zone in the Frazier Creek area. A strongly altered dike-filled fault zone high above the target horizon carried anomalous gold. Progress on the hole was plagued by mechanical breakdowns and challenging hole conditions and after nine weeks the decision was made to abandon the hole at 416 m as severe winter weather set into the area. The hole therefore did not reach the critical Horse Canyon Equivalent host rock horizon which was its targeted objective. Gold was more anomalous in AG22-12 than it was in AG22-11 in the shale cap rock above the host horizon. Surface alteration at Frazier Creek is visually the strongest on the Alpha Gold property with a 2 km strike length of continuous alteration interpreted as leakage from a potential Carlin-type gold system at depth. Valuable information obtained from this first drill hole and the extensive alteration on surface confirms Frazier Creek as a high priority target.
All elements of a large Carlin-type gold system are confirmed by results at Alpha. The Horse Canyon Equivalent host rock horizon carries gold mineralization and Carlin pathfinders in all holes that have penetrated it at Alpha and correlates with analogous horizons at Goldrush and Gold Bar. A deeper horizon in the McColley Canyon Fm (Goldrush Wenban Fm Unit 5 equivalent) remains untested at depth. Mapping has identified and drilling is confirming a NNW anticline broadly controlling gold mineralization. Gold mineralization is now drill-defined for 2.5 km along the anticline in the Horse Canyon Equivalent host. Drill results ranging from broad zones of 0.10 g/t in AG21-02 and 03 versus stronger intercepts like 21.3 m of 1.21 g/t Au in AG21-10 may reflect their proximity to the crest of this anticline. A higher grade core coincident with the anticline crest can now be surmised in this manner.