VANCOUVER, CANADA – July 18th, 2018: Sitka Gold Corp. (CSE: SIG) (the “Company” or “Sitka”) announces regulatory permitting has been received and it is mobilizing the Reverse Circulation (RC) drill rig to the third drill target at its Adobe Gold Project located 40km north of Elko, Nevada. 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. The Company is also pleased to announce assay results from its second drill hole (A18-02) completed last month.
Reverse Circulation drill hole A18-02 was drilled at 135°, -70° to a total depth of 1955 feet (595.85 metres). Geochemical results showed generally elevated gold throughout the
Mississippian section from 340’ to 1955’ 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.
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