Sitka Gold (CSE:SIG) (FSE:1RF) (OTCQB:SITKF) announced high-grade gold intercepts from the second diamond drill hole completed during the company’s 2022 winter exploration program at its RC Gold Project in Yukon. Assay highlights include 205.8 metres of 1.01 grams per tonne gold from surface including 91.0 metres of 1.61 grams per tonne gold from 46.0 metres.
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Sitka Gold (CSE:SIG) (FSE:1RF) (OTCQB:SITKF) announced high-grade gold intercepts from the second diamond drill hole completed during the company’s 2022 winter exploration program at its RC Gold Project in Yukon.
The RC Gold Project, a contiguous district-scale land package, consists of 376 square kilometre or 92,900 acres, located in the newly road accessible Clear Creek, Big Creek, and Sprague Creek districts in the heart of Yukon's highly prospective Tombstone Gold Belt.
It is strategically positioned mid-way between Victoria Gold's Eagle Gold Mine, which is Yukon's newest gold mine having reached commercial production in the summer of 2020, and Sabre Gold Mine's Brewery Creek Gold Mine.
The RC Gold Project land package comprises five underlying properties, namely, the RC, Bee Bop, Mahtin, Clear Creek, and Barney Ridge properties.
The winter drilling program focused in the area of the Blackjack Zone which was first intersected by Hole 21.
The Blackjack Zone occurs within the Saddle West Zone where the Blackjack Fault obliquely intersects an east-west trending extensional corridor.
This corridor is defined by abundant lamprophyre dykes and the gold-in-soil anomaly of greater than 100 parts per billion and greater than 500 parts per billion over an area of 2 kilometres by 500 metres between the Saddle West, Blackjack, Saddle and Eiger Zones.
Four diamond drill holes, 22, 23, 24 and 25, were completed during the 2022 winter program for a total of 1,243 metres.
Hole 23, the second follow-up drill hole completed since the discovery of the Blackjack Zone, was collared from the same drill pad as Hole 21 and drilled along the same section at a steeper angle.
It encountered several intervals of elevated gold values from surface to the hole's depth of 285 metres.
Assay highlights include:
205.8 metres of 1.01 grams per tonne gold from surface including
91.0 metres of 1.61 grams per tonne gold from 46.0 metres,
1 metre of 10.95 grams per tonne gold from 47.0 metres,
1 metre of 13.65 grams per tonne gold from 68.0 metres
1 metre of 16.8 grams per tonne gold from 125.0 metres.
Visible gold was observed across several intervals.
Previously reported Hole 21 returned 220.1 metres of 1.17 grams per tonne gold from surface that included 50.5 metres of 2.08 grams per tonne gold and the first follow up 2022 winter diamond drill hole, Hole 22 returned 62 metres of 1.21 grams per tonne gold including 14 metres of 3.85 grams per tonne gold.
Cor Coe, CEO, stated: “Hole 23 has produced some impressive results with characteristics similar to those seen in our initial Blackjack Zone discovery hole (Hole 21) and our first follow-up hole (Hole 22) and continues to demonstrate that we have found a structurally controlled, high-grade gold corridor within the larger intrusion-related gold system at RC Gold. As we eagerly await the assays from two additional follow-up drill holes completed during the winter drilling program (Holes 24 and 25), our focus now is on positioning the two drill rigs on the property to continue testing this impressive gold-rich zone laterally along the interpreted strike to the east and west, as we work toward a maiden resource estimate."
The shares are trading at $0.125.
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.
