Sitka Gold (TSXV:SIG) has reported multiple sightings of visible gold in the first two diamond drill holes at the Rhosgobel intrusion, located within its RC Gold Project in Yukon. This marks the first diamond drilling at Rhosgobel, approximately five kilometers south of the company’s Blackjack gold deposit. The ongoing drilling at Rhosgobel reveals gold mineralization extending 250 meters beyond previous depths, suggesting that the mineralized system may be larger and more complex than originally thought. The company awaits assay results from these holes and other ongoing drilling activities at the RC Gold Project.

Cor Coe, CEO and Director of Sitka Gold, commented in a press release: “The visuals of the first two diamond drill holes to ever be completed at the Rhosgobel intrusion-related gold target (Figures 1, 2, 3 and 6) have exceeded expectations with several occurrences of visible gold observed in DDRCRG-24-001 and 002. The visual results from our first pass of drilling at Rhosgobel are very encouraging and highlight the significant potential of the many high-priority targets we have yet to drill within the Clear Creek Intrusive Complex (see Figure 5). We eagerly await the assays from these holes which suggest that robust gold mineralization continues from surface to a vertical depth at least 250 metres below the extent of historical drilling and showcase the potential for Rhosgobel to host another significant intrusion-related gold deposit within the Clear Creek Intrusive Complex analogous to our growing Blackjack deposit. Diamond drilling utilising oriented core at Rhosgobel has provided valuable information to Sitka’s technical team confirming the similar structural and geological controls on gold mineralization that occur at the Blackjack and Eiger deposits, located approximately 5 kilometres to the north, and the team is excited to apply the knowledge gained from our geological modelling to further advance this exciting target.”

The Rhosgobel intrusion, part of the Clear Creek Intrusive Complex (CCIC), is the southernmost exposed feature in a series of mineral-rich intrusions occupying an area roughly 8 by 15 kilometers. These intrusions likely originate from a shared magmatic source deep within the earth. They consist of various rock types, including quartz monzonite, granodiorite, and diorite, with associated felsic and lamprophyre dykes. Collectively, these features form a substantial mineralized system with significant gold potential.

The Blackjack gold deposit, which lies five kilometers north of Rhosgobel, shares geological similarities with the latter. Blackjack is situated within a quartz monzonite intrusion that exhibits feldspar megacrystic phases. Rhosgobel, aligned with the northerly Blackjack fault, shows similar geological traits and holds potential for comparable gold mineralization. Prior exploration in 1995 by Kennecott utilized shallow reverse circulation drilling and indicated widespread gold throughout Rhosgobel. The latest diamond drilling appears to validate those earlier findings, with gold observed at much greater depths.

In these new drill holes, Sitka Gold has encountered a complex network of quartz veins and breccias, containing substantial amounts of coarse scheelite, pyrrhotite, pyrite, and occasional arsenopyrite, which are typical indicators of gold-bearing systems. Visible gold was seen within the quartz veins and breccias, often in conjunction with minerals like bismuthinite, scheelite, and occasionally molybdenite. Pervasive alteration of the host rock includes quartz-sericite and sericite-chlorite, with intensified alteration occurring around the quartz veins.

The first of these drill holes, designated DDRCRG-24-001, reached a depth of 303.6 meters. Drilled at a dip of -50 degrees and an azimuth of 10 degrees, it targeted the extension of gold mineralization previously found in historical drill holes CCRC-95-15 and CCRC-95-16. This hole revealed roughly 200 meters of altered and mineralized feldspar megacrystic quartz monzonite, along with 100 meters of weakly altered quartz monzonite. Visible gold was noted at depths of 118.3 and 119.5 meters, confirming the presence of gold at these intervals.

The second drill hole, DDRCRG-24-002, extended deeper, reaching 400.8 meters. It was drilled at a steeper angle with a dip of -75 degrees, also targeting historical intersections and the mineralized zone identified in DDRCRG-24-001. This hole encountered a 50-meter section of oxidized and mineralized feldspar megacrystic quartz monzonite before transitioning into areas with high vein density, characterized by large quartz veins with strong alteration, faulting, and mineralization. Visible gold was found at numerous points within the drill core, specifically at 229.3, 249.6, 249.61, 299.5, 299.53, 299.66, 300.6, 303.11, 303.24, 303.38, and 307.4 meters. These observations align with the mineralized zones seen in DDRCRG-24-001, supporting the notion of a large, contiguous system.

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.​​​​​​​​​​​​​​​​

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.”

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

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.