Figure 1: Workmap showing drill hole locations at the Blackjack gold deposit. Source: Sitka Gold

Sitka Gold (TSXV:SIG) has recently reported a significant finding in its 2024 winter diamond drilling program at the RC Gold Project in Yukon’s Tombstone Gold Belt. The company has drilled a total of 1085.1 meters this year, aiming for a total of 15,000 meters. The second drill hole of 2024, designated DDRCCC-24-58 or Hole 58, located 70 meters north of the prior hole DDRCCC-24-057, has shown visible gold within sheeted veining in megacrystic quartz monzonite intrusive rock. This hole reached a depth of 534.9 meters with specific geological orientations.

This drilling activity is part of a wider exploration program focusing on expanding and understanding the mineralization at the RC Gold Project. Notably, Hole 58 aimed to explore the extension of mineralization previously identified, confirming the continuity of high-grade mineral zones. The drill hole intersected two broad zones of quartz monzonite and feldspar porphyry within a geological formation known for hosting gold, with visible gold observed at significant depths.

Sitka Gold’s exploration goals for 2024 include further delineating the mineralization within the Clear Creek Intrusive Complex area, where the Blackjack and Eiger gold deposits are located. Both deposits are currently open in all directions, indicating potential for further expansion. The winter drilling phase has been completed, with plans to resume after a short break due to spring thaw conditions in Yukon.

Cor Coe, Director and CEO of Sitka Gold, commented in a press release: “Observations of visible gold within significant intervals of megacrystic quartz monzonite (intrusive rock) in the first two step out drill holes of our winter diamond drilling campaign at RC Gold are very encouraging and further support that robust gold mineralization remains persistent in this area, which is still open in all directions. These successful step outs show that mineralization encountered in Hole 47 continues in Hole 57 and 58 and demonstrates the significant potential to expand higher grade gold mineralization to the south and southeast of the current Blackjack deposit, which remains open in all directions, and we are eagerly awaiting the assay results. Our team has done a wonderful job getting an early start on the planned 15,000 metre diamond drilling program for this year. As the only company drilling in the Tombstone Gold Belt this winter, the advantages of having proximity to existing infrastructure, including year-round road access, are hard to ignore and bode well for current and future development of RC Gold. The Blackjack gold deposit is a strong example of the geological potential of the district-scale and still largely underexplored land package where over 1.3 million ounces of gold has been defined and nine outcropped intrusions associated with gold mineralization have been identified to date. With a gold resource that is poised for significant growth and several additional high priority intrusion-related gold targets across the 386 square kilometre property, Sitka is very well positioned to capitalize on a strengthening gold market as we continue with our fully funded 2024 diamond drilling program at RC Gold.”

Figure 2: Cross section of DDRCCC-24-058 where visible gold was intercepted within the deepest intersection of the intrusion drilled to date. Source: Sitka Gold

The RC Gold Project represents a substantial land package within Yukon’s notable gold mining region. Located between two significant mining operations, the project boasts access and infrastructure conducive to mining activities. In early 2023, Sitka Gold announced an initial mineral resource estimate for the RC Gold Property, highlighting the potential of the Blackjack and Eiger deposits for open-pit mining and heap leaching, with promising gold recovery rates.

This development underscores the potential of the RC Gold Project in contributing to the understanding and exploitation of Yukon’s mineral wealth. Sitka Gold’s ongoing exploration efforts aim to further uncover the extent of mineralization, with the ultimate goal of developing a viable mining operation.

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

1. Mineral resource estimate prepared by Ronald G. Simpson of GeoSim Services Inc. with an effective date of January 19, 2023. Mineral Resources are classified using the 2014 CIM Definition Standards.
2. The cut-off grade of 0.25 g/t Au is believed to provide a reasonable margin over operating and sustaining costs for open-pit mining and processing
3. Mineral resources are constrained by an optimised pit shell using the following assumptions: US$1800/oz Au price; a 45° pit slope; assumed metallurgical recovery of 85%; mining costs of US$2.00 per tonne; processing costs of US$8.00 per tonne; G&A of US$1.50/t.
4. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
5. Totals may not sum due to rounding.





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.

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