The decision is getting closer! Gold explorer Sitka Gold (WKN A2JG70 / CSE SIG) announced at the end of last week that it had completed the first deep drilling on the Alpha Project, located in the world famous gold district of Carlin, Nevada. The analysis results should be available in a few weeks. If these are positive in the current record gold price environment, it will be exciting!
The Carlin district is the second most productive gold producing area in the world with more than 30 mines in operation and a total production of more than 84 million ounces (2016). The mega deposits line up along the Battle Mountain Cortez gold trend. The deposits (Pipeline, Cortez Hills and Goldrush) are located where cheap carbonate rocks have been preserved through zones of folding and deformation.
In the Carlin-type deposits, the gold is not bound in veins, but is very finely distributed in huge limestone sediments. These deposits are typically characterized by microscopic and / or dissolved gold in pyrite and arsenopyrite. This dissolved type of gold is also called “invisible gold” because the gold can only be found by chemical analysis. The gold grades are very low, but because of their even distribution these deposits are ideal for industrial mining in huge open-cast mines.
As Cor Coe, CEO of Sitka, explained, the AG20-01 hole intersected a substantial portion of the structure that was targeted. The information already gained, the Sitka CEO continues, appears to confirm the company’s models and would increase the potential of the Alpha project to include a Carlin-type gold deposit. No wonder Coe is looking forward to receiving the laboratory results …
We will keep the readers of GOLDINVEST.de up to date on how this exciting explorer will continue, which has two more irons in the fire. However, despite all the potential, investors should always be aware that exploration is a risky business and exploration companies are risky investments. Accordingly, any positions should always be hedged and only make up a small part of the portfolio.
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According to §34b WpHG and § 48f (5) BörseG (Austria) we would like to point out that GOLDINVEST Consulting GmbH and / or partner, client or employee of GOLDINVEST Consulting GmbH hold shares in Sitka Gold and there is therefore a conflict of interest. GOLDINVEST Consulting GmbH also reserves the right to buy or sell company shares at any time. In addition, GOLDINVEST Consulting GmbH is paid by Sitka Gold for reporting on the company. This is another, clear conflict of interest.
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