- Since February 2022, Sitka has completed ~ 4990 metres of drilling in 16 holes focused on the Blackjack Zone
- Visible gold has been identified in several locations
- All drill holes completed to date, in the current phase of drilling, have intersected significant intervals of mineralized quartz veining
- Drilling since 2020 has demonstrated “better grade gold mineralization at the Blackjack Zone”
- Sitka Gold Corp. (SIG) is down 3.33 per cent trading at C$0.14 per share as of 12:28 pm EDT.
Sitka Gold Corp. (SIG) has provided an update on the ongoing diamond drilling program at its RC Gold Project in Yukon.
Since the first phase of drilling began in February 2022, the company has completed approximately 4990 metres of drilling in 16 holes focused on the Blackjack Zone where drilling in 2021 intersected 220.1 metres of 1.17 g/t gold including 50.5 metres of 2.08 g/t gold.
Four subsequent drill holes completed during the winter of 2022 confirmed this impressive gold discovery, including the last drill hole announced, hole DDRCCC-22-025 (Hole 25) a step out drill hole 80 metres to the east that returned 349.0 metres of 0.71 g/t of gold drilled from near surface, including 221.0 metres of 1.01 g/t gold and 2.0 metres of 15.15 g/t gold.
Samples from 12 holes of the current second phase of drilling, which began June 1st, have been sent to ALS Global Laboratories preparation facility in Whitehorse, Yukon.
Drilling by the company since 2020 has demonstrated that better grade gold mineralization at the Blackjack Zone is hosted in sheeted quartz sulphide veins and veinlets in megacrystic granite and quartz feldspar porphyry dykes and sills and in proximal intruded metasedimentary rocks.
Associated sulphide minerals are pyrrhotite, arsenopyrite, chalcopyrite, and bismuthinite.
Recent preliminary metallurgical work has returned gold recoveries of up to 94 per cent and demonstrated that the gold is not refractory and is potentially amenable to open-pit, heap leach extraction methods.
All drill holes completed to date, in the current phase of drilling, have intersected significant intervals of mineralized quartz veining in the intrusive and meta-sedimentary hosts rocks.
Visible gold has also been identified in several locations as summarized in the table below:
Table 1: Occurrences of gold observed in drill core at the Blackjack Zone
Cor Coe, P.Geo., Director and CEO of Sitka Gold remarked,
“We are very encouraged by the persistent mineralization and several occurrences of visible gold being observed as we continue to step out both laterally and vertically in all directions from discovery Hole 21 at the Blackjack Zone. Given what is being observed in the drill core, we expect the assay results from this phase of drilling to date will continue to expand on the known gold mineralization in this area and increase the parameters of what appears to be very significant intrusion-related gold occurrence. With an access road that is usable year-round and proximity to additional infrastructure such as the highway and powerlines, the RC Gold Project is in an ideal location for future development.”
The RC Gold Project consists of a 376 square kilometre contiguous district-scale land package located in the newly road-accessible Clear Creek, Big Creek, and Sprague Creek districts in the heart of Yukon’s Tombstone Gold Belt.
It is the largest consolidated land package strategically positioned mid-way between Victoria Gold’s Eagle Gold Mine – Yukon’s newest gold mine.
Sitka Gold Corp. (SIG) is down 3.33 per cent trading at C$0.14 per share as of 12:28 pm EDT.