Sitka Gold (TSXV:SIG) Expands Yukon Exploration Program, Targets New Areas in RC Gold Project

Sitka Gold (TSXV:SIG) has announced an expansion of its planned 2024 exploration program at the RC Gold Project in Yukon. The company will now include diamond drilling and additional surface work on the newly acquired Clear Creek property claims, which complete the consolidation of the Clear Creek Intrusive Complex.

Cor Coe, Director and CEO of Sitka Gold, commented in a press release: “The accumulation of data from several years of systematic exploration by previous operators on the newly acquired Clear Creek Property has generated several high-quality exploration targets. The newly acquired claims cover at least three intrusion related gold targets that are geologically similar to our developing Blackjack gold deposit and the team is very excited to begin assessing the property by testing the Rhosgobel intrusion, where historical work strongly indicates the potential for the presence of a multi-million ounce gold deposit. Sitka’s initial discovery of the Blackjack and Eiger gold deposits came about through a similar process of review and compilation of a large historical database and we see the ability to accelerate the discovery of additional gold deposits by utilizing our growing knowledge of the intrusion-related gold systems in this area in conjunction with the comprehensive Clear Creek data-set as we continue our exploration activities across this emerging mining district.”

The RC Gold Project now covers 431 square kilometers and includes four high-priority areas that have seen previous drilling and require further exploration. These areas are:

1. The Rhosgobel intrusion, with historical drilling results of up to 1.03 g/t gold over 67.1 m
2. The Contact zone, with drill results up to 20.3 g/t gold over 10.7 m
3. The Bear Paw Breccia, which intersected up to 1.87 g/t gold over 42.6 m
4. The Pukelman intrusion, with results of 1.20 g/t gold over 10.0 m

Sitka Gold is currently conducting diamond drilling at RC Gold as part of a planned 15,000 metre drilling program for 2024. The first target area to be tested is the Rhosgobel Intrusion, where shallow historical drilling in 1995 by Kennecott outlined a large area of intrusion-related gold mineralization. Previous drilling at Rhosgobel was limited to a vertical depth of approximately 60 metres.

The company has engaged GroundTruth Exploration to conduct grid-based soil sampling in an area south of the Blackjack deposit. This area, known as the G2 zone, was previously prospected in 2015, with 13 surface float samples collected ranging from trace to 43.4 g/t gold.

Additional exploration activities planned for 2024 include:

– Geological mapping and prospecting in the G2 to Pukelman West corridor
– Exploration along the Blackjack fault mineralized corridor from the Blackjack deposit south through the Pukelman West and Rhosgobel intrusion
– Integration of recently acquired data from the southern portion of the Clear Creek Intrusive Complex
– Development of drilling plans for additional known areas of mineralization

The acquisition of the Clear Creek property completes Sitka Gold’s 100% ownership of the Clear Creek Intrusive Complex, adding several underexplored areas with potential for new gold discoveries.

On January 19, 2023, Sitka Gold announced an Initial Mineral Resource Estimate for the RC Gold Property of 1,340,000 ounces of gold, classified as inferred. This resource is contained in two zones: The Blackjack and Eiger deposits. Both deposits are potentially open pit minable and amenable to heap leaching, with initial bottle roll tests indicating gold recoveries of up to 94% with minimal NaCN consumption.

The RC Gold Project is located approximately 100 kilometres east of Dawson City, Yukon, and is accessible via a secondary gravel road from the Klondike Highway. It is positioned between Victoria Gold’s Eagle Gold Mine and the former Brewery Creek Gold Mine.

As exploration continues, Sitka Gold aims to further define and expand the known gold mineralization within the RC Gold Project area.​​​​​​​​​​​​​​​​

  • 2024 exploration has begun on the newly acquired Clear Creek property
  • First diamond drilling program ever to be completed on the Rhosgobel Intrusion since historical shallow reverse circulation drilling in 1995 to follow up on holes 95-15 which intersected 50.3 m of 1.07 g/t gold and 95-16 which intersected 67.1 m of 1.03 g/t gold with both holes ending in strong gold mineralization.
  • Grid geochemistry currently underway to infill gaps to the south of the Blackjack deposit on the high potential Pukelman West intrusion and G2 zone on the newly acquired Clear Creek claims.
  • Integration of newly acquired datasets (geological, geophysical, geochemical) with Sitka Gold data.
  • Geological mapping and prospecting following up on the high grade G2 zone, Contact zone and other highly prospective gold targets.

Significant drill hole results from the Clear Creek PropertyJunior Mining Network

RC Gold Inferred Mineral Resource Estimate

COG g/t Au Blackjack Zone Eiger Zone Combined
Tonnes 000’s Au g/t 0z Au 000’s Tonnes 000’s Au g/t 0z Au 000’s Tonnes 000’s Au g/t 0z Au 000’s
0.20 35,798 0.80 921 32,523 0.45 471 68,321 0.63 1,391
0.25 33,743 0.83 900 27,362 0.50 440 61,105 0.68 1,340
0.30 31,282 0.88 885 22,253 0.55 393 53,535 0.74 1,279
0.35 29,065 0.92 860 17,817 0.60 344 46,882 0.80 1,203
0.40 26,975 0.96 833 14,506 0.66 308 41,481 0.86 1,140
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.
Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

By Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

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