In August 2020 Sitka Gold announced an expansion of its Yukon mineral portfolio of mining claims with the acquisition of the OGI Property, located just off the Dempster Highway, approximately 50 km east of Dawson City and 1 km north of Golden Predator’s Brewery Creek Gold Mine in Yukon’s prolific Tombstone Gold Belt (Figure 1). This acquisition expands Sitka’s land position within the Tombstone Gold Belt to nearly 400 km2.
The target at OGI is an intrusion-related gold deposit such as Eagle Gold, Brewery Creek and Red Mountain in Yukon and Fort Knox in Alaska, and also a SEDEX style, stratabound Zinc-Lead-Silver (Zn-Pb-Ag) deposit, similar to Howards Pass and many other zinc-rich base and precious metal occurrences within Yukon's Selwyn Basin.
About the OGI Property
The OGI Property, consisting of 99 quartz mining claims, is underexplored relative to its neighbours, including Golden Predator’s Brewery Creek Mine 1.0 km from its southern border, and overlies favourable geology and stream geochemistry. Previous exploration work up to 1997 included geochemical stream sediment sampling of local drainages, an airborne MAG geophysical survey conducted over the area (in conjunction with the Geological Survey of Canada), geological mapping, and prospecting. The stream sediment sampling and geophysical survey identified a broad 1.0 km x 3.0 km gold anomaly that is coincident with an interpreted buried intrusive identified from the MAG geophysical survey (Figure 2). More recent exploration work on the property conducted between 2011 to 2017 consisted primarily of follow up soil sampling and returned gold values from <5 ppb to 3700 ppb and silver values from <0.2 ppm to 31 ppm and includes a significant silver-zinc soil anomaly that straddles an area of approximately 250 m x 750 m with values from 10 ppm to 31 ppm silver and 1060 ppm to 4500 ppm zinc (Figure 3). This anomaly is the target of a first phase drill program scheduled for Q3 of 2020 (Figure 3).
The first ever drilling at OGI targeted a silver-zinc soil anomaly that covers an area of approximately 250 metres by 750 metres (Figure 3). The soil anomaly is strongly anomalous in Zn (1,060 ppm to 4,500 ppm), Ag (10 ppm to 31 ppm) and enriched in several other elements including Ni, As, Mo, Ba, P and V (see news release dated August 18, 2020). This geochemical signature is indicative of Sedimentary Exhalative (SEDEX) style, stratabound Zinc-Lead- Silver (Zn-Pb-Ag) mineralization, similar to Howards Pass and many other zinc-rich base and precious metal occurrences within Yukon's Selwyn Basin.
Holes OGI-RAB-20-001, 003 and 004 all intersected a black fine grained argillaceous unit that is moderately to strongly anomalous in zinc and silver, as well as the SEDEX pathfinder elements Vanadium, Molybdenum and Barium. The strongest mineralization was encountered in OGI-RAB-20-004, which averaged 1,963 ppm Zn and 5.7 ppm Ag over its entire 30.5 m length. The highest results from this hole were 1.5 m of 5,430 ppm Zn at 13.7 m and 1.5 m of 11.6 g/t Ag at 3.0 m.
The potential of OGI to host various mineral deposit types along with its close proximity to existing road, power and mining infrastructure creates a very appealing opportunity for Sitka. The Company’s plans for OGI in 2021 include gravity geophysics methods aimed at finding massive sulfide mineralization within the argillite unit and diamond drilling to fully test the known geochemical targets at OGI as well as any targets defined by the gravity geophysics.
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SITKA GOLD CORP
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