Alpha animals define where the pecking order is at the top. If Sikta Gold Corp. (CSE: SIG; FRA: 1RF) In these days, when testing his alpha gold project on the south-eastern foothills of the famous Cortez trend in Nevada by first drilling, the ranking is steep and the claim “Alpha” is high.
The Cortez trend is teeming with alpha animals. Some of the most profitable Barrick gold mines can be found here, so-called elephants (see Figure 2): the pipeline mines (20 million ounces), Cortez Hills (15 million ounces) and Goldrush (15 million ounces). The fact that the trend is one of the most productive gold belts in the world is due to the special geology that is known as the Carlin type. The gold in this type of deposit is mostly invisibly finely distributed in certain horizons of the calcareous sedimentary rock, especially the so-called “lower plate”. The continuity of these sediments favors industrial mining in open-cast mines with huge tonnages, because sediment hoizones are very easy to track. That is exactly the plan: Sitka wants to find these gold-containing “lower plate” sediments on Alpha!
Figure 1: The picture was taken on June 18, in the evening. Up to 12 holes are expected to be drilled over the next six weeks. The management is hoping for the first results by early August.
Sitka Gold owns 100 percent of the Alpha Gold. The property spans approximately 405 hectares (1000 acres) and is accessible via a dirt road approximately 2 kilometers west of Nevada State Highway 278. The Alpha project is just one of three promising gold projects in Sitka’s portfolio. When we first introduced the company, we referred to the Alpha project as Sitka’s “Moonshot Project” because of its extreme risk / reward ratio. With the “Burro Creek” project in Arizona, Sitka also has a viable “bread and butter project” with a first resource and an entire gold district in the Yukon, the mega project RC-Gold. https://goldinvest.de/aus-der-redaktion/194-sitka-gold-corp-redaktion/3599-sitka-gold-gold-explorationschancen-im-dreierpack
Figure 2: Alpha gold site
The Alpha Porjekt is located at an exciting geological intersection
The Alpha Gold Project is where the foothills of the Cortez gold trend intersect the Garden Valley fault (see Figures 2 & 3). Sitka has secured approval for a 12-hole drilling program to test its Carlin Gold hypothesis. In previous exploration, geologists have found evidence that the primary late Devonian carbonate horizon may have been preserved on Alpha, precisely at the contact of two known formations, the Webb Formation and the Devil’s Gate Formation. The McEwen Mining gold bar mine, which exploits this contact with the Webb formation, has only recently started operating 50 kilometers away from Alpha. The Webb Formation is considered the cheapest host for gold mineralization in the region.
Cor Coe, Sitka’s chief executive officer, commented, “According to our geological model, the transition from the Webb to the Devil Formation at the first drilling site could be approximately 350-550 meters below surface. We will bring the drilling to this depth and test our Carlin Gold hypothesis “.
Figure 3: Alpha-gold target area
Previous oil company explorations provide valuable data
For the exploration of the alpha gold project, in addition to the latest geological mapping, data from the oil well and mineral exploration in the region were included for the first time. The geochemical soil conditions at Alpha indicate the leakage of a Carlin gold system. Geologists expect the sequence of rock strata below the “Upper Platte” to be similar to that of Goldrush in the eastern Cortez district. Below the “Upper Plate”, the geologists suspect the so-called “lower plate” with the coveted Webb formation, which in turn would correlate with the stratigraphy of the Goldrush project.
In the course of the drilling, Sitka will be able to see whether the layer sequence matches the known deposits in the Cortez trend. The first critical marker is expected to be a phosphate lens horizon at the base of this unit. The layers should gradually become more calcareous below the phosphate lens horizon; this would be an analogy to the Horse Canyon formation at Goldrush. Below that should be the Devils Gate limestone. This stratigraphic horizon in particular could represent an exceptionally favorable host for a Carlin-type gold mineralization, the Sitka geologists suspect.
The first hole, AG20-01, is located on the eastern edge of a dome-shaped area that was interpreted based on the geological surface mapping of the alpha area. The eastern part of the license was chosen because it overlaps the Garden Pass regional fault system.
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