Vancouver, British Columbia--(Newsfile Corp. - July 19, 2018) - Sitka Gold (CSE: SIG) has announced assay results from the
second drill hole, completed last month, on its Adobe Gold Project, and is preparing for the third drill target. The Adobe Gold
Project, located 40 kilometres north of Elko, Nevada, covers approximately 1,000 acres.
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The company is exploring for Carlin-type gold mineralization in an area of the Adobe Range Mountains that has the necessary
structural/stratigraphic features and geochemical signature for such potential mineralization to occur at depth on a district
scale.
Reverse Circulation drill hole A18-02 was drilled to a total depth of 1,955 feet. Geochemical results showed generally elevated
gold throughout the Mississippian section from 340 feet to 1,955 feet, which is analogous to A18-01. This supports the northern
Adobe Range as a prospective location for Carlin-type gold generation, due to regionally elevated background gold in this part of
the Mississippian black shale basin.
More importantly, gold concentrations spiked in a few key intervals of A18-02, indicating a Carlin-type gold system is at work
concentrating that gold. Peak gold in A18-02 was six times that seen in A18-01. The strongest gold spike occurred at the margin of
a potentially Eocene-aged, biotitehornblende dike, in a decalcified, silicificified zone near the base of the Permian.
Two additional gold spikes occurred in the Tripon Pass Formation associated with quartz-calcite stockwork and pyrite in thin
dolomitic beds. Carlin-type ore bodies typically focus along specific regional stratigraphic horizons of highly favorable strata.
Narrow decalcified, silicificied, gold zones associated with dikes, faults and thin carbonate beds are characteristic of leakage
into less favorable rocks above orebodies.
The company has received regulatory permitting and is mobilizing the reverse circulation drill rig to the third drill target.
Surface mapping suggests this target horizon will be much shallower where A18-03 will collar this week. A18-03 will test the Adobe
project's northern anticline target next to a major northwest striking fault, within an antimony-thallium surface geochemical
anomaly.
Sitka plans to drill up to 3,000 metres in 6 holes with a Reverse Circulation drill rig. This will be carried out in stages to
allow sufficient time for assays to be received and assessed. Anticipated depths are expected to be approximately 300m to 500m.
Scott Price, VP Exploration, stated: "Gold anomalies in A18-02 look like leakage and indicate potential for much stronger
mineralization in the Tripon Pass — Guilmette contact zone. A18-03 tests a target that meets all of our structural and geochemical
parameters and has the best chance of cost-effectively reaching the critical stratigraphic target."
For more information, please visit the company's website at www.sitkagoldcorp.com, contact Cor Coe, CEO, 604-817-4753, or email ccoe@sitkagoldcorp.com.
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