Sitka Gold (CSE:SIG) Advances Expansive Diamond Drilling Program at RC Gold Project in Yukon’s Tombstone Gold Belt

Source: Sitka Gold

Sitka Gold (CSE:SIG), has shared a progress update on the diamond drilling program in its RC Gold Project located in the coveted Tombstone Gold Belt in Yukon, roughly 100 kilometres east of Dawson City. This ongoing project, with a planned drilling of up to 10,000 metres, is primarily focused on step out drilling to expand the original mineral resource estimate of 1,340,000 ounces of gold announced this year. This estimate comprises two surface-near gold deposits, namely the Blackjack and Eiger deposits, which remain open in all directions.

Cor Coe, CEO and Director of Sitka Gold, commented in a press release: “The first drill holes completed during the summer drilling campaign at RC Gold continue to highlight the expansion potential at our Blackjack gold deposit with additional visible gold occurrences observed in every hole logged to date. Part of this drilling included the deepening of Hole 043 where the entire 422 m hole had returned 0.74 g/t gold from surface, including 112 m of 1.24 g/t gold and 14 m of 3.28 g/t gold (see news release dated June 21, 2023). This hole was extended with an additional 104.6 m of mineralization observed to a total depth of 526.4 m. The mineralization with visible gold observed in these drill holes has the potential to add significant tonnage to the known mineralization at Blackjack and we look forward to receiving the analytical results of these holes as we continue our drill program at RC Gold.”

The main attention of the summer drilling program has been the Blackjack gold deposit, which boasts an inferred, pit-constrained 900,000 ounces of gold at a grade of 0.83 g/t. The ongoing step-out drilling has so far resulted in the completion of four drill holes, DDRCCC-23-043 to -046, with drilling in progress for DDRCCC-23-047 (refer to Figure 1). Every drill hole has managed to extend the known mineralization of the deposit, and visible gold has been noted in all logged holes to date (Holes 043, 044, and 045; refer to Figure 2). Analytical results for all drilled holes this summer are still pending.

The 2023 summer drilling season commenced with the continuation and completion of drill hole DDRCCC-23-043, ending in 111.7 m of 1.24 g/t Au starting from 315 m (see news release on June 21, 2023). Since then, three additional drill holes, DDRCCC-23-044 to 046, have been successfully completed, totalling 1353.3 m of drilling for this summer campaign.

Notably, DDRCCC-23-043 continued in megacrystic quartz monzonite (MQZMN), hosting quartz sulfide veins until it encountered a 6 m lamprophyre dyke, a known marker unit in the Blackjack Deposit. The hole then intersected moderately altered metasediments intruded by meter-scale MQZMN dyke, with both units cross-cut by quartz sulfide veins.

Both DDRCCC-23-044 and DDRCCC-23-045 were drilled from the same location with the aim to extend the current resource to the south and at depth (refer to Figure 1). They intersected moderately to strongly altered metasediments intersected by meter-scale MQZMN dyke throughout their length. Quartz vein density increased downhole in both holes, with visible gold also encountered. These holes are particularly noteworthy as they revealed the strongest alteration and quartz sulfide development seen in the metasediment unit in drilling on the RC Project to date, indicating potential significant gold mineralization (refer to Figure 3).

Hole DDRCCC-23-046 aimed to extend the margin of the current resource to the northeast. However, logging for this hole is not yet complete. The ongoing hole 47 was targeted to expand the southern margin of the current resource. The analytical results for all drilled holes in the ongoing summer drilling campaign remain pending.



The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

By Matthew Evanoff

I cover the mining industry and the best mining stocks around the world. I write about industry news, individual companies, projects, management, and profiles on industry leaders.

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