Good geologists see things that less good geologists overlook. Sometimes it is precisely the drilling that gives them the decisive gain in knowledge that the market has long since shelved as “unsuccessful”.
Sitka Gold Corp. (CSE: SIG; FRA: 1RF) In any case, has drawn the specific consequence of the only 548 meter deep borehole on its Alpha Project on the southeastern extension of the famous Cortez Trend in Nevada to acquire further exploration licenses more than five kilometers northwest, also within the Cortez Trend. The Sitka geologists believe they can conclude from the drilling data from July last year that the new claim block also contains a Carlin-type target horizon with a thick sediment package of the coveted “Lower Plate Limestone Formation”, but only half as deep as at the first block of claims. Sitka hopes to find the target zone at 250 meters instead of 500 meters.
The Sitka geologists use the model of the Barrick Gold goldrush project in the Cortez district as a model. (See Figure 2) The decisive factor for gold mineralization seems to be whether the respective layers of the Lower Plate sedimentary rock were covered by an overlying layer at the time of their mineralization in the Eocene or not. Where there was no cover, the sedimentary rock oxidized and was less absorbent. Therefore, gold deposits are found there today with rather low grades like at Horse Canyon. In contrast, gold deposits in the same layers of the Lower Plate in layers that were covered in the Eocene tend to have higher-grade deposits than those at Goldrush and Fourmile. Sitka suspects that the newly acquired claim block may contain both covered and uncovered mineralization. (see figure 1)
Cor Coe, CEO and Director of Sitka is convinced: “With our expanded land package and improved geological modeling, we have significantly increased the likelihood of success at Alpha.” Sitka will start drilling the new target as soon as the drilling permit for the new claim block is available . The company expects to receive this drilling permit within the next two weeks.
Figure 1: Alpha Gold’s two target areas. The northwest claim block was acquired new. Further to the northwest is the Barrick Goldrush Project.
Figure 2: The regional cross-section shows the Alpha Gold project. Sitka suspects a continuation of the sediments of the “Lower Plate Limestone” on the new claim blocks (top left), but at a much shallower depth than the first claim block. The Lower Plate comes much closer to the surface but is still partially covered which could be important for the grade of gold mineralization.
Figure 3: The newly staked claim in detail.
Sitka Gold has acquired a 100% interest in the Alpha Gold Project, located along the southeastern extension of the prolific Cortez gold trend in Eureka County, approximately 135 kilometers southwest of Elko, Nevada. The property consists of two claim blocks for a total of 77 lode claims covering approximately 1,540 acres (623 hectares) and is accessible by a dirt road approximately 2 km west of Nevada State Highway 278.
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