Sitka Gold poised to trade on TSX Venture Exchange
Sitka Gold Corp. [SIG-CSE, OTCQB-SITKF, 1RF-FSE] said it has received approval to list its shares on the TSX Venture Exchange. It said the shares will be de-listed from the Canadian Securities Exchange at the close of trading on March 4, 2023 and begin trading on the TSX Venture Exchange on March 5, 2024. Upon listing, the company said its SIG trading symbol will remain unchanged and shareholders do not need to take any action.
Sitka has also announced the appointment of Angus Campbell to its board of directors. Campbell is a professional geologist who recently worked as Vice-President Exploration at Sabina Gold and Silver Corp., a company that was acquired by B2Gold Corp. [BTO-TSX, BTG-NYSE] in 2023 for $1.2 billion.
These announcements come after Sitka recently raised $2.1 million from an oversubscribed private placement financing that will be used to fund exploration and related programs on its Yukon gold properties.
On Friday, Sitka shares closed were priced at 14 cents. The shares are currently trading in a 52-week range of 23.5 cents and $0.085.
Sitka is a diversified company that is advancing new gold discoveries in Nevada and the Canadian 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.
Sitka said it has completed approximately 6,500 metres of additional drilling in 16 holes at RC Gold since the mineral resource estimate was announced. Results are still pending for two drill holes that were completed in mid-September.
Sitka’s RC 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 the Tombstone Gold Belt.
The land package consists of five underlying properties namely, the RC, Bee Bop, Mahtin, Clear Creek and Barney Ridge properties. While the project contains several high priority intrusion-related gold targets, Sitka has focused its efforts on the underlying Clear Creek property where it has identified a large 500-metre by 2,000 metre-corridor, containing the Blackjack, Saddle and Eiger zones.
Sitka Chairman and CEO Corwin Coe has said he believes RC Gold has the potential to host several multi-million-ounce gold deposits. It is as view that was reinforced when the company released the new drilling results from an exploration program that began earlier this year.