Sitka drills deeper to confirm gold extent

Sitka Gold Corp. Sept. 5 announced the results from the first three holes drilled during the 2023 exploration program at the RC Gold project in Yukon, Canada, which continues to highlight the consistency and magnitude of mineralization at its ever-expanding targets.

"The results from the first three drill holes completed during our summer drill program at RC Gold continue to illustrate just how consistent and well-endowed the gold mineralization is at our expanding Blackjack deposit," said Sitka Gold CEO Cor Coe.

Consisting of a 376-square-kilometer (145 square miles) contiguous district-scale land package located in the newly road-accessible Clear Creek, Big Creek, and Sprague Creek districts in the heart of Yukon's Tombstone Gold Belt, RC Gold is one of the largest consolidated land packages in the Yukon.

This highly fertile and largely underexplored land package is about 100 kilometers (62 miles) east of Dawson City, at the headwaters of Clear Creek and Big Creek, a major placer mining district that is serviced by a network of gravel roads and trails.

Lying between Victoria Gold's Eagle Gold Mine and Sabre Gold Mine's Brewery Creek gold mine, the property comprises five underlying properties – RC, Bee Bop, Mahtin, Clear Creek, and Barney Ridge.

In March, Sitka announced an initial inferred mineral resource estimate for two deposits at its RC Gold project. According to the calculation, Blackjack hosts 33.7 million metric tons averaging 0.83 grams per metric ton (900,000 ounces) gold at a cutoff grade of 0.25 g/t, while Eiger hosts 27.4 million metric tons averaging 0.5 g/t (440,000 oz) gold at the same cutoff.

Combined, the initial inferred resource amounts to roughly 1.34 million oz gold.

Drilling this year continues to cut broad zones of gold mineralization at Blackjack. This includes two 2023 holes reported earlier this year:

• 292 meters averaging 1 g/t gold from a depth of 200 meters in hole DDRCCC-23-041, including a 30-meter section averaging 3.11 g/t gold.

• 215.1 meters averaging 1 g/t from a depth of 273.7 meters in hole DDRCCC-23-042, including a 2.35-meter high-grade subsection averaging 17.63 g/t gold.

Highlights from the latest batch of assays include:

• 449 meters averaging 0.74 g/t gold from surface in hole DDRCCC-23-043, including a 14-meter segment averaging 3.28 g/t gold.

• 161.8 meters averaging 0.71 g/t gold from a depth of 107.2 meters in DDRCCC-23-044, including 16 meters averaging 2.36 g/t gold.

• 52.5 meters averaging 0.51 g/t gold from a depth of 57 meters in DDRCCC-23-045, including meters averaging 1.87 g/t gold.

"Extending Hole 43 added another 30 metres of 0.78 grams per tonne gold to the end of that drill hole resulting in an impressive 449 metre interval grading 0.74 grams per tonne gold beginning at surface," said Coe.

Collared exactly where Sitka won the Blackjack hand in "Hole 21," 043 was drilled to fill in possible data gaps in the current resource model and to extend the higher-grade mineralization in the present resource to depth.

Starting during the winter program, 043 encountered significant mineralization but halted due to the onset of spring thaw conditions. Re-entered at the start of the summer, Sitka drilled another 100 meters or so to be sure of its strata, reaching a depth of 526.4 meters.

Due to this, the company found the core to be variably mineralized throughout most of its length, including several instances of visible gold.

"Drill holes 044 and 045 continue to expand this gold deposit to the south with several additional intervals of greater than one gram per tonne gold encountered," Coe added.

Both of these holes were collared at the same location at differing degrees and dips to possibly extend the current resource to the south and at depth.

Sitka says both holes intersected moderately to strongly altered metasediments, and quartz vein density with locally massive development of arsenopyrite generally increased in both holes, with both also encountering various stints of VG.

To date, the company has completed 14 drill holes totaling approximately 6,000 meters of its planned 10,000-meter program.

Analytical results for the remaining drill holes will be released upon receipt and compilation.

"Step out drilling and fieldwork to expand both the Blackjack and Eiger gold deposits, both of which remain wide open, have been the primary focus of our 2023 summer field season at RC Gold along with additional exploration work in preparation to drill test other high priority gold targets within the Clear Creek Intrusive Complex," finished the Sitka CEO.

The company reports that it has also begun the first-ever drill program at Josephine, an RC Gold target about three kilometers (1.9 miles) southeast of Blackjack.