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Sitka Gold begins drilling its OGI silver property in Yukon

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The drilling is targeting a silver-zinc soil anomaly that straddles an area of approximately 250 metres by 750 metres with values from 10 to 31 parts per million silver and 1060 to 4500 parts per million zinc as reported on August 18th.

Additional Information:

Company: Sitka Gold
Website: http://www.SitkaGoldCorp.com
Stock Symbol: CSE: SIG
Date Published: Sep 22, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Sitka Gold has started drilling its OGI property.

The OGI property is 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.

The drilling is targeting a silver-zinc soil anomaly that straddles an area of approximately 250 metres by 750 metres with values from 10 to 31 parts per million silver and 1060 to 4500 parts per million zinc as reported on August 18th.

Four drill holes are planned to test the anomaly and coincident VLF conductors.

The targets modelled at OGI are intrusion-related gold deposits such as Eagle Gold, Brewery Creek and Red Mountain in Yukon and Fort Knox in Alaska, and also SEDEX style, stratabound Zinc-Lead-Silver deposits, similar to Howards Pass and many other zinc-rich base and precious metal occurrences within Yukon's Selwyn Basin.

Cor Coe, CEO, stated: “We look forward to completing the first ever drill program at OGI with the goal of determining the source of this impressive silver-zinc anomaly. 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. This will be the fourth property the Company has drilled this year and reflects our mission to aggressively explore properties of merit with strong gold and silver targets.”

The company has completed the drilling portion of its exploration program at the RC Gold Project in Yukon with over 1500 metres in 6 holes of NQ diamond drilling.

Drill core from all six holes has been sent to the lab for analysis with results expected over the next six weeks.

A longer than average turnaround time for assay results from these 6 holes is anticipated due to Covid-19 precautions along with high volumes.

In addition to drilling, trenching was also completed and over 500 soil and rock samples were collected with a 40 square kilometre LIDAR survey scheduled to commence this week.

Additionally, the permitting process is currently underway for a Phase 2 drill program at the company’s Burro Creek gold property in Arizona.

The shares are trading at $0.20 with Directors and Management owning approximately 17% of the outstanding shares.

For more information, please visit the company’s website at www.SitkaGoldCorp.com, contact Donald Penner, President, at 778-212-1950 or by email at dpenner@SitkaGoldCorp.com, or Cor Coe, CEO, at 604-817-4753, or email ccoe@SitkaGoldCorp.com.

I’m Megan Edwards for Investmentpitch Media