Vancouver, British Columbia–(Newsfile Corp. – November 3, 2023) – Sitka Gold (CSE: SIG) (FSE: 1RF) (OTCQB: SITKF) reported results of 1.21 g/t gold over 84.0 metres from surface at its RC Gold Project in Yukon.
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The company released results from another seven holes completed during the 2023 diamond drilling program at the RC Gold Project, with results from an additional 2 diamond drill holes pending. The company completed 16 drill holes totalling approximately 6515 metres as part of its 2023 diamond drill program.
The RC Gold Project consists of a 376 square kilometre 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. It is strategically positioned mid-way between Victoria Gold’s Eagle Gold Mine, Yukon’s newest gold mine, approximately 60 km to the east, and Victoria Gold’s Brewery Creek Gold Mine. The RC Gold Project land package, which comprises five underlying properties, shares a common border with Victoria Gold’s Clear Creek property to the west and Florin Resources’ Florin Gold property to the north.
Drill holes DDRCCC-23-053 and 054 were drilled in the Saddle zone located 450 metres east of the Blackjack deposit. Drill holes DDRCCC-23-048 to 52 were step-out holes drilled up to 250 metres outside the Blackjack deposit resource and all holes, except 52, encountering gold mineralization at or above the current resource cut-off grade of 0.25 g/t Au. These holes are significant for the growth of the Blackjack deposit as they were drilled outside the margin of the current Blackjack resource. Current drilling has not defined the limits of the deposit and it remains open in all directions.
In January 2023, the company announced that Blackjack had an inferred pit-constrained gold resource of 900,000 ounces of gold grading 0.83 g/t gold with another 440,000 pit-constrained ounces of gold grading 0.50 g/t gold at the Eiger deposit. Both the Blackjack and Eiger deposits remain open in all directions and form the basis of an NI 43-101 compliant, pit-constrained initial mineral resource estimate of 1,340,000 ounces of gold grading 0.68 g/t gold.
Shifting to Nevada, Sitka recently signed a drill contract and is planning additional drilling at its Alpha Gold Property in Nevada. Having recently discovered a new Carlin -type gold system at Alpha, the company is now focused on vectoring towards the high-grade core of this system, which is located on the Cortez Trend just 40 km southeast of the Cortez Mine Complex of Barrick/Newmont.
The company is well funded with its shares trading at $0.15. For more information about the company’s projects in the Yukon, Arizona, Nunavut, and Nevada, please visit the company’s website at www.SitkaGoldCorp.com, contact Donald Penner, President, at 778-212-1950 or by email at dpenner@SitkaGoldCorp.com, or Cor Coe, CEO, at 604-817-4753, or email ccoe@SitkaGoldCorp.com.
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