Blackjack keeps dealing a winning hand

Launching into 2023 with an initial inferred mineral resource estimate, the excitement has grown for Sitka Gold Corp. as much as its 2022 Blackjack discovery on the company's highly prospective RC Gold project in Canada's Yukon.

Consisting of a 376-square-kilometer (145 square miles) RC Gold project is located near the newly road-accessible Clear Creek, Big Creek, and Sprague Creek districts in the heart of Yukon's Tombstone Gold Belt.

One of the largest consolidated land packages in the Yukon, RC is an intrusion-related gold project that stands on the same playing field as other multi-million-ounce deposits within the most popular gold exploration belt in the Yukon.

Nestled between Victoria Gold's Eagle Gold Mine and recently acquired Brewery Creek gold mine, Sitka's project comprises five underlying properties – RC, Bee Bop, Mahtin, Clear Creek, and Barney Ridge.

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.

According to the calculation announced in January, RC Gold hosts 61.1 million metric tons of inferred pit-constrained resource averaging 0.68 grams per metric ton (1.34 million ounces) gold at 0.25 g/t cutoff grade.

Blackjack hosts 33.7 million metric tons of this resource averaging 0.83 g/t (900,000 oz) gold, while Eiger hosts 27.3 million metric tons averaging 0.5 g/t (440,000 oz) gold.

Initiating a 10,000-meter diamond drill program at RC Gold, Sitka immediately began returning impressive results that were "far beyond anything" the company had seen to date. However, those words would prove somewhat ironic as Sitka continuously reported better intercepts, each outdoing the last.

The initial drilling of 2023 focused on step-outs to expand what appeared to be a higher-grade component of the maiden Blackjack gold deposit. As though a sign, the first hole of the season hit significant paydirt.

"The geologic indicators observed in our first step-out hole of the year are very encouraging," said Sitka Gold CEO Cor Coe. "The concentration of gold grains observed in hole 41 is far beyond anything we have seen to date and was encountered near the start of what appears to be a well mineralized interval."

Collared 160 meters south of discovery drill hole 21 that named the Blackjack deposit, hole 41 was designed to test for an extension of high-grade material at depths below two other holes drilled in 2022.

Although reported in April, assays for hole DDRCCC-23-041 came a month later. With the wait finally over, Sitka Gold shared the results – 292 meters averaging 1 g/t gold from a depth of 200 meters. This long intercept included higher-grade subintervals such as 75 meters averaging 2.04 g/t gold from 273 meters and 30 meters averaging 3.11 g/t gold from 320 meters.

Not just waiting around for the results, three more holes were drilled in that time, and each became more and more promising than the last.

Although what started with hole 41 as one of the best, visible gold and significant intercepts continued to stream in for Sitka.

Some of the 2023 highlights reported by Sitka through November 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.

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

"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 meters east of the Blackjack resource boundary, and returned the best drill result to date there with 84 meters of 1.21 g/t gold beginning at surface," said Coe. "In addition, Hole 54 has highlighted the exceptional continuity of gold mineralization across this large intrusion related gold system."