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.
Highlights from the results are as follows:
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 Property
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.
Sitka Gold Corp. (TSXV:SIG) (FSE:1RF) (OTCQB:SITKF) has announced the recommencement of its previously announced 15,000-metre diamond drilling program at its road accessible RC Gold Project located in the Tombstone Gold Belt in the Yukon.
Cor Coe, Director and CEO of Sitka Gold Corp, commented in a press release: “Drilling currently underway is focused on continuing to expand the Blackjack deposit following up on the higher-grade gold mineralization discovered during the winter diamond drilling program outside of the current resource. Our updated geological model suggests this higher-grade gold zone continues south and we plan to investigate that possibility this summer along with follow-up on several other high-priority targets as we push to expand our rapidly growing gold resource and make additional discoveries across our one hundred percent owned, district-scale RC Gold Project.”
During the winter portion of this year’s drilling program, Sitka completed two diamond drill holes totaling 1085 metres to test the continuity of higher-grade gold mineralization south of the Blackjack gold deposit. Visible gold was observed in both drill holes, with assay results returning 191.0 m grading 1.16 g/t gold, including 11.0 m of 5.80 g/t gold within 89.0 m of 2.03 g/t gold in hole DDRCCC-24-057, and 154.0 m of 1.47 g/t gold, including 37.0 m of 3.07 g/t gold and 8.0 m of 4.61 g/t gold in hole DDRCCC-24-058.
The company’s objectives for the 2024 exploration season include further drilling of the Saddle East zone, Eiger Deposit, Josephine Stock, and investigation of nine known intrusions with associated gold mineralization discovered to date on the 386 square kilometre RC Project.
The RC Gold Project consists of a district-scale land package located in the heart of Yukon’s Tombstone Gold Belt, approximately 100 kilometres east of Dawson City. It is the largest consolidated land package positioned between Victoria Gold’s Eagle Gold Mine and former producing Brewery Creek Gold Mine.
In January 2023, Sitka Gold announced an Initial Mineral Resource Estimate for the RC Gold Property of 1,340,000 ounces of gold. The road accessible, pit constrained Mineral Resource is classified as inferred and is contained in 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.
Exploration on the property has mainly focused on identifying an intrusion-related gold system (IRGS), which is the prominent host to deposits within the Tintina Gold Province in Yukon and Alaska. Notable deposits from the belt include Fort Knox Mine, Eagle Gold Mine, Brewery Creek deposit, Florin Gold deposit, and the AurMac Project.
Highlights from the results are as follows:
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
Notes
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.
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
Notes 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.
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