ALPHA GOLD PROPERTY
Sitka Gold has acquired a 100% interest in the Alpha Gold Property, located along the southeast projection of the prolific Cortez Gold Trend in Eureka County, approximately 135 kilometres southwest of Elko, Nevada. The Property is comprised of two claim blocks of 93 lode claims covering an area of approximately 1860 acres (753 hectares) and is accessible via a dirt road, approximately 2km west of Nevada State Highway 278.
The Property was staked after the location was recognized as the intersection of the regional-scale Pine Valley anticline with northeasterly fold trends exposed in the Roberts Mountains. Of primary importance at the Alpha Gold location is that the rocks have been down-dropped significantly by late extensional faulting. Prior to extension, and during the critical 36 - 42 Ma Carlin-type mineralization event, the fold crest at Alpha Gold would have been a regional highpoint among nearby mountain ranges. This is an ideal scenario for producing and preserving a Carlin-type gold deposit, and is exactly what happened at the Pipeline (20 Moz), Cortez Hills (15 Moz), and Goldrush (15 Moz) gold deposits in the Cortez district. Well exposed ‘lower plate windows’ near Alpha Gold have been extensively explored for Carlin-type gold deposits with a number of smaller deposits found along the limbs.
Recently completed drill holes testing the NW target area were successful in intercepting the targeted Webb/Devil's Gate contact zone and encountered Carlin-type mineralization and alternation analogous to existing gold deposits along the Cortez Trend. Assay results are currently pending for these latest drill holes (as of March 24th, 2021).
Key Points Regarding Recent Developments at Alpha Gold:
• AG21-03 intersected strong, Carlin-type, alteration at a prime stratigraphic horizon, known as the Webb/Devils Gate contact in the Roberts Mountains, time equivalent to the Horse Canyon/Wenban contact at Goldrush approximately 40 km to the north along the Cortez Trend.
• AG21-03 is located down dip from surface gold geochemical anomalies to the northwest and up dip from a rhyolitic volcanic and hypabyssal intrusive complex to the southeast.
• Mercury, arsenic, and thallium results from initial sampling in Webb Fm and Devonian Shale well above the Devils Gate contact east of AG21-03 definitively strengthen towards the rhyolite complex.
• The emerging mineralization alignment is located in the hanging wall anticline of an interpreted, northwest, moderate angle, thrust fault and spatially associated with normal faults carrying Carlin age rhyolite dikes. The moderate angle thrust fault is broadly analogous to the Abyss thrust at the Pipeline deposit located at the northern end of the Cortez Trend.