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Why Investors Need to Know About this Junior Mining Company with Over 150 Years of Experience…Now

Jocelyn Aspa Jocelyn Aspa, The Market Herald
1 Comment| December 16, 2021

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Having a diverse portfolio of assets is one thing, but when they’re owned and operated by a company with a management team that has a combined over 150 years of experience, investors can rest assured the company has the legs to stand on.

Enter Sitka Gold Corp. (CSE:SIG, OTCQB:SITKF, FSE: 1RF, Forum), which is a Vancouver, BC-based junior gold, silver and copper explorer backed by an experienced team of industry professionals that have been instrumental in past discoveries and shareholder success.

In line with this, Sitka Gold has a vast portfolio of mineral assets in coveted jurisdictions. The company’s projects include RC Gold and OGI in the Yukon, Burro Creek Gold in Arizona, Alpha Gold in Nevada, and Coppermine River in Nunavut.

With the company’s assets in gold, silver, zinc and copper in mining-friendly jurisdictions, its diverse portfolio varies from grassroots discovery stage properties to an existing deposit open for expansion in all directions.

All of this is to say this is nothing short of impressive for a company that was formed and went public in 2018.

In an interview with Stockhouse Editorial Cor Coe, CEO of Sitka Gold said that since going public the company has been able to raise $12 million and acquire all of the assets now under its belt.

When asked about the company’s focus in regions such as the Yukon, Arizona, Nevada and Nunavut, Coe said that all of these areas are stable jurisdictions for mining, which also helps give Sitka Gold a diversified portfolio unlike any other in addition to historical resources.

“[Sitka Gold] has a foundation to build from to keep building our resources,” he said.


The Potential of the Burro Creek Property

The Burro Creek property in Arizona, which is a large, near-surface epithermal gold-silver system with historical five million ounces of silver and 120,000 ounces of gold with massive expansion potential.

Ideally located in Arizona in a proven mining jurisdiction with road access and nearby mining infrastructure, the Burro Creek Property is a massive, at surface, low sulphation epithermal gold-silver vein system with a projected strike length of 1.5 kilometres.

With four patented claims, Sitka Gold has the option to acquire 100 percent interest in the mineral and water rights, subject to lease payments of US$500 per month and a 3 percent NSR (2 percent of which can be purchased).

In terms of patented mining claims, of which there are 35, Sitka Gold also has the option to acquire 100 percent of the 35 unpatented mining claims that surround the patented mining claims.

The Burro Creek project has an extensive history of exploration that dates back over 200 years, with most recent exploration done between 1981 and 1988 and then again between 2008 and 2013.

Drilling done on the property in 2008 consisted of a 33 hole, 2,565 metre drilling program that was intended to confirm and update historical results at the Burro deposit with the potential for extraction by an open pit.

Gold and silver mineralization is also known to occur throughout the vein structure, with metal zoning evident in some high-grade — Bonanza grade — portions.

In 2011, an NI-43-101 resource calculation was done based on 87 reserve circulation and diamond drill holes and samples from 9 audits for a total of 6,672 metres and 2,682 assays. Although it’s been a decade since the last NI-43-101 report has been done, Sitka Gold considers the technical report to be relevant and reliable because no significant work had been done since the report was issued.


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Fast forward to 2020 when Sitka Gold completed a Phase 1 drilling program at the property in Q2 2020 that confirmed the target as being an extension of the Burro vein. Diamond drill program results included 10 drill holes and 1,000 metres of drilling along the first 250 metre south with the confirmed target as being the southern extension of the Burro vein.

In short, the Burro Creek property demonstrates excellent potential for expansion of a known resource while being ideally located in a favorable jurisdiction.


The RC Gold Project

In addition to its Arizona property, Sitka Gold also has a strong presence in the Yukon where it is focused on its RC Gold project, which is located in Tombstone Gold Belt within the Tintina Gold Belt, where several gold deposits are hosted including Kinross’ Fort Knox deposit and Victoria Gold’s Eagle Gold deposit.

All in, the project is made up of five contiguous claim blocks — the RC, Mahtin, BeeBop, Clear Creek, and Barney Ridge properties. The RC Gold project is a district-scale land package with a range of intrusion-related gold targets and spans roughly 37,700 hectares. At present, the project is largely underexplored but is located on a highly fertile land package with recently added road accessibility.

In 2020, the company completed an exploration drill program where six diamond drill holes were completed totaling 1,500 metres across the Clear Creek and RC properties. Results included surface samples that yielded up to 27.8 grams per ton of gold, while drilling intercepts included 139.1 metres of 0.61 gold, 100.8 metres of 0.82 g/t gold and 2.0 metres of 16.1 g/t gold.

Perhaps most notably, three new gold discoveries at the RC Gold project were made: the Saddle-Elger Zone, the Barney Ridge and Big Creek Zone.

Fast forward to December 2021 when the company released results from its 2021 exploration program at its RC Gold Project, where Sitka Gold drilled 220.1 metres of 1.17 g/t gold from surface.

Notably, hole 21, which is located in the Saddle West Zone, was drilled under a greater than 500 parts per billion gold-in-soil anomaly previously identified on surface by 500 metre wide by 2 km long gold-in-soil anomaly. Sitka Gold is particularly excited about results from hole 21 and is now working on executing plans for a follow-up drill program.

Additional results from the 2021 diamond drill program are still pending include assay results from five holes, namely DDRCC-21-016 through to DDRCCC-21-020.


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“Exploration efforts at the RC Gold Project continue to deliver impressive results and, with only 19 diamond drill holes completed across this gold system to date, there is plenty more to discover,” Coe said in a press release. “We look forward to receiving results for the remaining 5 drill holes and rapidly advancing this along with several other underexplored targets across this district-scale, road accessible property.”

With the four discovery holes drilled in 2020, Sitka Gold has now completed 19 drill holes at the Saddle-Eiger target region for a total of 6,494 metres.


What’s Next for Sitka Gold

While the company has had a range of milestones in 2021 — including two drilling programs at Alpha Gold and the RC Gold property where Sitka Gold has consolidated five different properties into one huge property — 2022 and beyond will be busy for the company.

In particular, Coe said the core focus will be in the Yukon next year and, thanks to the company’s recent results from the RC Gold project, all signs are pointing to its plans going ahead.

“Everything is pointing to a major program [in the Yukon] in planning an initial major resource,” Coe said. “That’s going to be a big focus for us.”

In the meantime, he added, Sitka Gold is also expecting its permits in Arizona so that the company can continue its drilling there.

“We’ve taken that historical resource, we’ve proven that it extends to the south for 1.5 kilometres, we drilled a third of that and got good results,” Coe explained.


Sitka Gold’s Management Team

Cor Coe, B.Sc., P. Geo, CEO and Director
Corwin Coe has over 35 years of experience in the mining industry with a primary focus in Arizona, Nevada, and the Yukon. Coe has previously put two mines into production and is credited with discovering a 2-million-ounce gold deposit.

Coe is a professional geologist, mining engineering technologist and gemologist with a Bachelor of Science degree in earth sciences from Simon Fraser University and a diploma in mining engineering technology from the British Columbia Institute of Technology.

Coe is also a member of the Association of Professional Engineers and Geologists of British Columbia and the Northwest Territories and Nunavut Association of Professional Engineers and Geoscientists.

In addition to his work with Sitka Gold, Coe has been a director and/or officer of a range of several public mining companies and was previously a fully licensed investment advisor and branch advisor of a national brokerage firm.

Donald Penner, B.Sc., P. Geo, President and Director

Donald Penner has over 40 years of technical and managerial experience in the mineral industry. Penner graduated from the University of British Columbia in 1976 with a Bachelor of Science Degree in Geology.

Over the course of his career, Penner has gained extensive experience at all levels of mineral property evaluation — from grassroots to feasibility-stage on projects in Canada, the United States, Africa, South American and Europe.

Penner has worked on world class deposits including Donlin Creek in Alaska and Galore Greek in northwestern British Columbia for NovaGold Resource Ltd. In addition to his extensive experience in mining, Penner also operated a successful geological consulting practice for 30 years.

Scott Price, B.Sc., M.Sc., VP Exploration

Scott Price has over 25 years of experience with major and junior mining and exploration companies focused on the US and Canada.

For most of his career, Price has been focused on gold exploration in Nevada where he worked on the discovery and definition teams at the Hollister epithermal deposit, the Phoenix and Mount Hamilton Carlin-type/intrusion-related gold deposits.

Price has also been integral in discovering the deep east ore body at the Pebble porphyry copper-gold project in Alaska. He holds a B.S. degree from the University of Wyoming and a M.S. degree from Washington State University, both in geology.

J. Greg Dawson, M.Sc., P.Geo. Director

Mr. Dawson has over 30 years of experience in mineral exploration. He holds a B.Sc. in geology from the University of British Columbia, a M.Sc. from Queens University and is a registered Professional Geoscientist with EGBC. His work experience includes acting as Director of Exploration for GroundTruth Exploration, Vice President Exploration for Colorado Resources, President and Vice President, Exploration of Copper Ridge Exploration as well serving as District Manager and General Manager with Teck Exploration Ltd. in Central Asia and South America. He also spent several years earlier in his career working for the Hunter Dickinson Group and its associated companies.


The Investor Corner

With a diversified portfolio in mining-friendly jurisdictions in Canada and the US, Sitka Gold presents itself as a unique opportunity thanks to its gold, silver, copper, and zinc assets.

What’s more, the company’s more than 150 combined years of experience means that its team has the know-how to execute and deliver for not only the company but also its investors.

At present, Sitka Gold has a share price of $0.16, which Coe explained is significantly undervalued when taking into consideration the level of work the company is executing and its experienced management team.

“[Sitka Gold] is not a one-trick pony show,” he said. “We have serious projects that we have developed and advanced every year in Nevada, Arizona and will be the Yukon as well.”

In other words, the company has not only a historic track record but also a proven track record with its existing projects, which means it also has the legs to carry out its future goals.

As such, investors won’t want to miss the boat on Sitka Gold — as the company gears its presence up in the Yukon in 2022 and beyond, the company will certainly be one to watch for.

For more information, visit www.sitkagoldcorp.com.


FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.


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