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Sitka Gold reports 100.8 meters of 0.82 g/t gold and 2 meters of 16.1 g/t gold at its RC gold project, Yukon

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The RC Gold Project is a 346 square kilometre district scale land package located in the newly road accessible Clear Creek, Big Creek and Sprague Creek districts in the heart of Yukon's Tintina Gold Belt within the Tombstone Gold Belt.

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Company: Sitka Gold
Website: http://www.SitkaGoldCorp.com
Stock Symbol: CSE: SIG
Date Published: Nov 23, 2020
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

Sitka Gold has announced additional drill results for two of its drill holes at its RC Gold Project in the Yukon

The RC Gold Project is a 346 square kilometre district scale land package located in the newly road accessible Clear Creek, Big Creek and Sprague Creek districts in the heart of Yukon's Tintina Gold Belt within the Tombstone Gold Belt.

It is the largest consolidated land package strategically positioned mid-way between Victoria Gold's Eagle Gold Mine, Canada's newest gold mine which just reach commercial production earlier this summer, and Golden Predator's Brewery Creek Gold Mine, which recently received Government and First Nation's support for re-starting production.

Sitka's first ever drill campaign at RC Gold consisted of six drill holes totalling approximately 1500 meters, which tested four targets over a distance of approximately 10 kilometers.

These areas had either never been drilled before or previous drilling had been unsuccessful in reaching the target depth.

The campaign was successful in intersecting significant gold mineralization within an intrusion related gold system environment in all four drillholes completed within the Saddle-Eiger Zone area.

Highlights from these two drill holes include:
- 287.0 meters of 0.52 grams per tonne gold from 9.0 to 296.0 meters from Hole 2, basically the entire hole, including:
- 231.0 metres of 0.61 g/t gold from 65.0 to 296.0 metres and
- 100.8 metres of 0.82 g/t gold from 156.4 to 257.2 metres and
- 2.0 metres of 16.10 g/t gold from 294.0 to 296.0 metres

Hole 1 returned:
- 84.8 metres of 0.52 g/t gold from 3.0 to 87.8 metres, including:
- 13.6 metres of 1.63 g/t gold from 72.1 to 85.7 metres and
- 18.0 metres of 1.34 g/t gold from 69.0 to 87.0 metres and
- 18.0 metres of .90 g/t gold from 3.0 to 21.0 metres

Hole 3 and 4 were reported on October 15th, with results for the remaining two drill holes still pending.

Cor Coe, CEO, stated: "These exceptional results demonstrate the enormous potential present at the Saddle-Eiger Zones and confirm that the area hosts significant gold mineralization, open both laterally and at depth, within a broad gold-in-soil anomaly that is over 2 kilometres in length. It is very impressive to have an entire drill hole (DDRCCC-20-002) return over 0.52 g/t gold, including 100.8 metres of 0.82 g/t gold, that also ended in 16.1 g/t gold over 2.0 metres. The intercepts and grades we are discovering in this area are quite compelling when you consider Victoria Gold's producing Eagle Gold mine, located about 40km east of our claim block, has a resource grade of 0.63 g/t gold. We believe the results from these inaugural drill holes at the Saddle-Eiger Zones reflect the grades and scale necessary for hosting an economic gold deposit and we are looking forward to a much more aggressive drill program in 2021 to follow up on this important discovery."

These drill holes were strategically positioned to test the large, overlying >100ppb to >500 ppb gold-in-soil geochemical anomaly that stretches over an approximate 2 kilometre x 500 metre area.

The results from these four drill holes demonstrate the potential size and robust nature of this mineralized gold zone and solidify Sitka's belief that the RC Gold Project is an incredibly fertile land package capable of hosting several intrusion related gold deposits along with high-grade vein and breccia hosted gold.

The shares are trading at $0.20.

For more information about this project and the company’s other projects in the Yukon, Arizona, Nevada and Nunavut, 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.

I’m Cassandra Bolinski for Investmentpitch Media