Sitka sets its sights on golden horizon

Sitka Gold Corp. Oct. 30 announced the next batch of assays from its ongoing drill program at the company's RC Gold project in Canada's Yukon, which the company says has significantly expanded known mineralization with a possibility to add considerable ounces at its Blackjack deposit.

Located within the central region of Canada's Yukon Territory, in the prolific Tombstone Gold Belt, the RC Gold project is roughly midway between Victoria Gold Corp.'s Eagle Gold mine and Brewery Creek gold mine project.

At approximately 37,700 hectares (93,000 acres), this highly fertile and largely underexplored land package is situated 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.

In March, the company announced an initial inferred mineral resource estimate for two targets at its RC Gold project. According to the calculation, its flagship 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 gold; 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.

Kicking off its 2023 season around the same time, Sitka has continuously rolled out assays. While most announcements have been smaller batches, each has continued to paint a picture of the highly prospective property the company holds.

Sitka says that initial drilling was focused on step-out drilling to expand what appeared to be a higher-grade component of the maiden Blackjack gold deposit announced earlier.

With several assays fighting for top spot as best hole, its latest results certainly verify the likelihood of this expansion to be on the money.

"The results from these latest drill holes have significantly expanded the known gold mineralization with the capacity to add considerable ounces at our Blackjack gold deposit, which remains open in all directions, while also highlighting the potential of the Saddle zone to host a substantial new gold deposit," said Sitka Gold CEO Cor Coe. "While we are very pleased to see the continued expansion potential confirmed with several step out holes at our Blackjack deposit, Hole 54 is particularly noteworthy as it was collared at the western edge of the Saddle zone, 450 metres east of the Blackjack resource boundary, and returned the best drill result to date there with 84.0 meters of 1.21 g/t gold beginning at surface."

Part of a larger batch, the latest results include the eighth through 14th holes completed this year. Highlights include:

• 58.1 meters averaging 0.72 g/t gold from a depth of 152 meters in hole DDRCCC-23-048.

• 140.6 meters averaging 0.34 g/t gold from 97.5 meters in DDRCCC-23-049.

• 78 meters averaging 0.3 g/t gold from 206 meters in DDRCCC-23-050.

• 104.2 meters averaging 0.3 g/t gold from 190.8 meters in DDRCCC-23-051.

• 417.4 meters averaging 0.25 g/t gold from 21.7 meters in DDRCCC-23-053.

• 84 meters averaging 1.21 g/t gold from surface in DDRCCC-23-054, including four meters averaging 5.12 g/t gold.

"With only a handful of drill holes completed, the Saddle zone remains open in all directions and is underlain by both the largest and the highest grade gold-in-soil anomaly on the project," said Coe. "Considering the large surface footprint of the underlying geochem at Saddle and the fact that we have only completed drill holes on the fringe of this zone, with the strongest part of this anomaly, extending 625 metres east of Hole 54, yet to be drill tested, the future prospects for expansion of the Saddle zone towards a major new gold deposit look very promising."

Sitka adds that only hole DDRCCC-23-052 held no significant results.

To date, the company has completed 16 drill holes totaling 6,515 meters as part of its program. With the latest five results in this batch, the company says analytical results for the remaining two holes completed will be released once received and compiled.

"In addition, Hole 54 has highlighted the exceptional continuity of gold mineralization across this large Intrusion Related Gold System," said Coe. "The Saddle zone remains open 450 meters west toward the Blackjack deposit and 1 kilometer east toward the Eiger deposit and there has been next to no drilling yet between these zones. Given its location, the results from Hole 54 have reinforced our belief that gold mineralization present within the 3 kilometer by 5 kilometer Clear Creek Intrusive Complex could be linked together with additional drilling. By most metrics we have really just begun to scratch the surface at RC Gold and, as Hole 54 has shown us, there is still plenty to discover as we continue to develop this exciting gold project."