Sitka drills hit visible gold at Yukon project
Sitka Gold Corp. [SIG-CSE, OTCQB-SITKF, 1RF-FSE] said it has observed visible gold multiple times in recently completed diamond drilling currently underway at the southern extent of the Blackjack zone at the company’s flagship RC gold project in the Canadian Yukon.
Sitka is a diversified company that is advancing new gold discoveries in Nevada and the Yukon
The company’s flagship asset is the RC Gold project, which is located 100 kilometres east of Dawson City, Yukon, in the Tombstone Gold Belt, a region that includes Victoria Gold Corp.’s [VGCX-TSX] Eagle and Brewery Creek mines, Banyan Gold Co.’s (BYN-TSXV) Aurmac project, and Snowline Gold Corp.’s [SGD-CSE, SNWGF-OTCQB] Valley discovery.
The company is currently placing 90% of its effort into the RC project, where the company is working to add significantly more ounces of gold to a pit constrained inferred resource of 1.34 million ounces of gold (61.1 million tonnes of 0.68 g/t gold) in two near surface/on surface zones known as Blackjack and Eiger.
In its latest press release, the company said visible gold within metasediments intruded by multiple megacrystic quartz monzonite dikes was observed numerous times in hole 61 and 62, which were drilled to a depth of 411.5 metres and 530 metres, respectively.
Drill hole 63 is currently under way and is an additional 100-metre step-out located to the south south of hole 62. This hole is designed to test the projection of high-grade gold mineralization along the newly identified Blackjack mineralized corridor south of the Blackjack gold deposit.
The company said six holes covering 2,636 metres have been completed to date this year, and a second drill rig has been mobilized to the project site in anticipation of drill testing high-priority targets within the recently consolidated Clear Creek intrusive complex along with other drill-ready targets located across the 431-square-kilometre, road-accessible project this summer.
“Observations of strong mineralization including multiple occurrences of visible gold in the first drill holes of the summer continue to highlight the robust nature of this gold system and the potential to add significant tonnage to the growing Blackjack gold deposit,’’ said Sitka Gold CEO Cor Coe. “The current drilling has targeted shallower mineralization up dip from previous drill holes that intersected deeper higher-grade mineralization, and we are now stepping out further south to continue to track this impressive mineralized system.”
Sitka is currently diamond drilling at RC Gold in conjunction with a planned 15,000-metre drilling program for 2024. It recently said it is expanding its exploration program this year to include diamond drilling and additional exploration work on its newly acquired Clear Creek property, which lie adjacent to RC Gold claims and were acquired from Victoria Gold in return for 21.8 million shares and $11 million worth of spending commitments.
Sitka Gold shares were unchanged Tuesday at 21 cents and currently trade in a 52-week range of 27 cents and 13 cents.