Sitka Gold, through its wholly owned subsidiary Arctic Copper Corp., holds 7,500 hectares
(18,525 acres) of mining claims in two separate claim blocks (Figure 2 & 3) in the Coppermine
River area in Nunavut that exhibit exceptional potential to host economic grades of copper and
silver mineralization. The project has both sediment-hosted and volcanic-hosted copper targets.
Ag at the Copper Leaf Showing. Minor amounts of the green copper oxide mineral malachite are
visible on the surface of the sandstones which contain copper sulphide minerals.
of Kugluktuk.
After staking the project in 2015, a first phase exploration program was completed which was
comprised of prospecting, geological mapping and a single line gravity geophysical ground
survey. Prospecting during the exploration program culminated in the discovery of a new
sediment-hosted copper showing (the ‘Copper Leaf’ showing) and a coincident gravity
anomaly over the mineralized area. The Copper Leaf showing is comprised of disseminated
plus massive chalcocite and malachite mineralization within the Husky Creek sandstones. The
mineralization appears to lie proximal to a major gabbro dyke that trends north-south for more
than 12 km. Grab samples were taken from several mineralized occurrences within the
sandstone unit while prospecting the Gabbro-Sediment contact along a 2km stretch extending
southward from the Copper Leaf showing. Copper and silver assays from these samples
returned values as high as 13.45% Cu and 65 g/t Ag. The single line gravity survey (see Figure
4) that was conducted over the Copper Leaf showing in 2015 revealed a strong gravity anomaly
90 m wide located proximal to the Gabbro Dyke. An expanded gravity survey conducted in
2019 suggested significant strike potential along the east flank of the gabbro dyke for more than
400 m. This bodes well for the discovery of large sediment hosted copper deposits in this area,
given that this dike-sediment contact extends for more than 12km through the Company’s
mining claims. The Company is in receipt of a technical report(4) by Scott Close, P.Geo., dated
Dec. 15, 2015 on its Coppermine River Project that includes the most recent results of the 2015
exploration program.
Copper Leaf Showing. The plan shows select samples of the mineralized Husky Creek
sandstones and vein and breccia styles of mineralization located adjacent to the gabbro dike (4) .
The gravity survey identified a sustained gravity anomaly to the east of the gabbro dyke where
mineralized samples were collected from frost boils. The resulting gravity high area is
interpreted as an increase of density resulting from the addition of more dense mineralizing
sulphides.
The mineral occurrences at Copper Leaf display similarities to other major world renown
sediment hosted copper deposits such as the Kamoa-Kakula copper deposits in the Democratic
Republic of Congo (DRC). The similar stratiform style, similar age, and similar depositional and
tectonic environment indicate the potential for large high grade copper deposits to occur at Copper Leaf. The current published mineral resource at Kamoa-Kikula is 1.3 billion Mt grading
2.70% copper yielding 77.4 billion lbs of contained copper (1)(2) . Other analogues to Copper Leaf
include the Keweenaw Copper deposits in the United States (3.5 billion pounds of copper
Indicated Resource (3) ).
(1) Gilchrist, G., Pri.Sci.Nat.SACNASP, and Witley, G., Pri.Sci.Nat.SACNASP (Qualified Person): Kamoa and Combined
Kakula Indicated and Inferred Mineral Resource. Effective Date December 31, 2022.
(2) These figures are for discussion purposes and do not imply that Arctic Copper Corp has such copper deposits at this time.
(3) Carl Michaud P.Eng. et al, Preliminary Economic Assessment White Pine North Project Michigan, USA, NI43.101
compliant. July 12, 2023.
(4) Close, Scott, M.Sc.,P.Geo., Technical Report of the ACG,ACJ and ACRAE Claim Blocks Coppermine River Project for
Arctic Copper Corp., December 15, 2015; Available at www.sitkagoldcorp.com
The Company has received the requisite Land Use Permit and Water Permit enabling the
Company to carry out drilling to further explore the mineral potential on these claims. Plans are
under way for a modest first-phase drilling program in the 2024 field season.
