News & Media
2018 Exploration Program begins at Adobe
VANCOUVER, CANADA – April 19th, 2018: Sitka Gold Corp. (CSE: SIG) (the “Company” or “Sitka”) is pleased to announce that the 2018 exploration program has started at its Adobe Gold Property (the “Property” or “Adobe”). Initial exploration will consist of a ground-based induced polarization (IP) geophysical survey totaling approximately 16 line kilometers. The resistivity component of the geophysical survey should assist in identifying the stratigraphic horizon targeted, more specifically the contrast between the Devonian Guilmette Limestone formation and the overlying shales at the intersection of northwest and northeast fold and thrust belts. This will enable better accuracy and orientation of the proposed drill holes. Drilling is anticipated to start shortly after the completion of the geophysical survey. Initial drilling will consist of approximately 3000 metres of reverse circulation (RC) drilling focused on previously identified Carlin-type gold mineralization targets. An archaeological study has also been completed as required for the proposed access roads and drill sites at Adobe. Based on the results of this study the Company has received approval from the BLM to commence drilling.
Cor Coe, Director and CEO of Sitka, comments: “We are excited to begin our fully funded 2018 exploration program at Adobe Gold. The IP survey currently underway will help to refine our existing drill targets and we look forward to the highly anticipated drilling of these target areas shortly after the geophysical survey is completed”.
About Adobe Gold
The Adobe Gold Property, located in northern Nevada, is a newly assembled land package totaling approximately 1,366 hectares (3,374 acres) in size that hosts a previously unrecognized Carlin-Type gold play. Geological mapping at Adobe has revealed intersecting folds and good structural preparation within favourable stratigraphy, key features that are found at most of the gold mines in the Carlin district. Geochemical surveys have also revealed anomalies of gold, mercury, arsenic, and thallium, which are common pathfinder elements for Carlin-type gold mineralization. Compilation and interpretation of the data have identified structurally-controlled areas where anomalous pathfinder minerals and gold assay results have defined three target areas to be drill tested. There has been no previous drilling done on the Adobe Gold Property.
The technical content of this news release has been reviewed and approved by Donald Penner, P.Geo., Director and President for the Company, and a qualified person as defined by National Instrument 43-101.
About Sitka Gold Corp.
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 and copper mineral properties of merit. Sitka currently has an option to acquire a 100% interest in the Adobe Gold Property in Nevada and owns a 100% interest in its Coppermine River Project in Nunavut and the Alpha Gold Property in Nevada. The Company recently completed an initial public offering (IPO), raised the maximum $1.2 million allowed under its prospectus and is fully financed to complete the aforementioned exploration program.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SITKA GOLD CORP.
President and Director
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President & Director
CEO & Director
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward Looking Information
Certain statements included herein may constitute “forward-looking statements”. All statements included in this press release that address future events, conditions or results, including in connection with exploration activity, future acquisitions and any financing, are forward-looking statements. These forward-looking statements can be identified by the use of words such as “may”, “must”, “plan”, “believe”, “expect”, “estimate”, “think”, “continue”, “should”, “will”, “could”, “intend”, “anticipate” or “future” or the negative forms thereof or similar variations. These forward-looking statements are based on certain assumptions and analyses made by management in light of their experiences and their perception of historical trends, current conditions and expected future developments, as well as other factors they believe are appropriate in the circumstances. These statements are subject to risks, uncertainties and assumptions, including those mentioned in the Company’s continuous disclosure documents, which can be found under its profile on SEDAR (www.sedar.com). Many of such risks and uncertainties are outside the control of the Company and could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In making such forward-looking statements, management has relied upon a number of material factors and assumptions, on the basis of currently available information, for which there is no insurance that such information will prove accurate. All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.