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InvestmentPitch Media Video Discusses Sitka Gold's Intersection of 11.89 Meters of 1.02 gpt Gold and 66.66 gpt Silver at Burro Creek, Arizona - Video News Alert on Investmentpitch.com
February 24, 2020 9:00 AM EST | Source: InvestmentPitch Media
Vancouver, British Columbia--(Newsfile Corp. - February 24, 2020) - Sitka Gold (CSE: SIG) has announced assay results from its Burro Creek Gold-Silver Property in Arizona. The Burro Creek Property, located 1.6 kilometers off State Highway 93 in Mohave County, Arizona, 105 kilometers southeast of Kingman, Arizona, and 265 kilometers southeast of Las Vegas, Nevada, consists of four patented mineral claims and 35 surrounding unpatented mineral claims.
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The property covers a low-sulphidation epithermal vein system that has been traced for over 1.7 kilometers and exhibits widths of up to 45 meters.
Holes BC20-060 and BC20-061 were located to test the southern continuity of the Burro Vein over a 1.3 kilometer long corridor where a mobile metal ion geochemical survey has outlined anomalous gold and silver mineralization on surface that corresponds with the southern projection of the Burro Vein as reported in September 2018. Highlights from BC20-060 include an intersection of 11.89 meters showing 1.02 gpt gold and 66.66 gpt silver including 3.36 meters showing 1.76 gpt gold and 52.26 gpt silver. Hole BC20-061 reported an intersection of 28.17 meters showing 1.01 gpt gold and 10.91 gpt silver.
Donald Penner, President, stated: "These results from the Burro Creek Gold/Silver Property confirm that the vein extends southward into an area that has not had previous drilling and continues to host strong gold and silver mineralization. This coincides with the strong MMI gold and silver anomaly that has been traced on surface for over 1.3 km. We look forward to additional results as the drill program designed to test this corridor proceeds."
Drilling is continuing and two additional holes, BC20-062 and BC 20-063 have been completed and have been shipped to the lab for assay. Preparation is currently underway to drill BC20-064, which is located approximately 90 meters south of BC20-063.
Previous reverse circulation, diamond drilling and underground development conducted on the property outlined an historical indicated resource of 2,331,871 tonnes grading 1.01 grams per tonne gold and 36.77 grams per tonne silver yielding 122,491 ounces at a 1.63 gram per tonne gold equivalent and an historical inferred resource of 2,247,069 tonnes grading 0.60 grams per tonne gold and 30.95 grams per tonne silver yielding 81,304 ounces at a 1.13 gram per tonne gold equivalent, both using a cut-off grade of 0.50 grams per tonne gold.
Although the historical results reported in the NI 43-101 technical report are considered by management to be reliable and relevant, though not conforming to current NI 43-101 standards, the company is not treating the historical estimate as current mineral resources or mineral reserves.
In addition to its option to acquire a 100% interest in the Burro Creek Gold property in Arizona, the company has an option to acquire a 100% interest in the RC Gold property in the Yukon, and owns a 100% interest in the Mahtin Gold property in the Yukon, the Coppermine River project in Nunavut and the Alpha Gold property in Nevada.
The shares are currently trading at $0.22, with Directors and Management owning approximately 25% of the outstanding shares, a solid indication of their alignment with shareholders' interests.
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.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/52698