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Sitka Gold (CSE:SIG) has announced assay results from the second drill hole on its Adobe Gold Project

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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.

Additional Information:

Company: Sitka Gold
Website: http://www.sitkagoldcorp.com
Stock Symbol: CSE: SIG
Date Published: Jul 18, 2018
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Sitka Gold 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.

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 1955 feet.

Geochemical results showed generally elevated gold throughout the Mississippian section from 340 feet to 1955 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.

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.”

The company starting trading on the CSE on January 31st, and the shares are currently trading at $0.155.

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. I’m Samantha Deutscher for Investmentpitch Media