Burro Creek Gold pROPERTY
The Burro Creek Gold Project is located 105 km by road southeast of Kingman, Arizona, in southeastern Mohave County, approximately 265 km southeast of Las Vegas, Nevada and 200 km northwest of Phoenix, Arizona. The claims comprising the Burro Creek Gold Project are contiguous and include four centrally located patented mineral claims and 35 located lode claims which collectively cover an area of approximately 287 hectares in the Greenwood Mining District, Arizona.
Of the four patented claims, Sitka Gold Corp. has the option to acquire 100% of the mineral and water rights, which are estimated to provide sufficient year-round water for production requirements. The Company also has the option to acquire 100% of the 35 unpatented mining claims that surround the patented claims. Accessible via a 1.6 km dirt road west off of Highway 93, the Burro Creek Project benefits from easy access road and power networks.
This project has a long history of exploration dating back to the time of the Spaniards more than 200 years ago. More recent exploration was carried out between 1981 – 1988, and 2008 – 2013. The last drilling done on the property was in 2008, consisting of a 33 hole, 2565 m drilling program designed to confirm and update historical results on the Burro Deposit with the potential for extraction by open pit. A historical NI-43-101 resource calculation was completed in 2011 based on 87 reverse circulation and diamond drill holes and samples from 9 adits, for a total of 6,6672 m and 2,682 assays. Considered historical until confirmed by Sitka Gold Corp., the 2011 resource estimates approximately 5M oz silver and > 100,000 oz gold (indicated and inferred). The Company considers the 2011 NI-43-101 technical report to be relevant and reliable as no additional significant work was done since issuance of the report.
The Burro Creek Project covers the Burro Vein - a trending low sulphidation epithermal gold-silver vein within a basin and range tectonic setting. Ranging from 5 to 45 metres wide, gold and silver mineralization occurs throughout the vein structure and can be traced for 1.5 miles, only 5% of which has been drilled to date. This Deposit is open to expansion laterally and at depth, with metal zoning evident in some high-grade (Bonanza grades) portions.
MMI soil sampling conducted in 2008 and 2013 was effective in detecting the mineralization of the known Burro deposit in the north, and outlines a strong continuity of the gold anomaly to a vein outcrop in the south, interpreted to represent a trace of the covered vein system over a distance of approximately one mile. Having never been drill-tested, it appears only about 5% of this vein system has been explored with a drill bit. This area holds excellent potential for expansion of the known resource and represents a fantastic new target for further exploration.
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