Coffers well filled
Canadian company Sitka Gold (WKN A2JG70 / TSXV SIG) recently raised another C$5 million for additional exploration and drilling at its RC Gold project in the Yukon. Understandable, as the 2024 drilling season has already been extremely successful! With a total of CAD 15 million in its coffers, the debt-free company now plans to carry out the largest ever drilling program on the project in 2025!
Sitka has commissioned the experts from Kluane Drilling to drill a total of 30,000 meters (!) at RC Gold in the coming year. Kluane is the logical choice for CEO Cor Coe’s company, as the Whitehorse-based company has over 30 years of experience with drilling in the Yukon and had already undertaken Sitka’s successful drill programs in the past two years.
Rhosgobel and Pukelman in focus
In the next drill phase at RC Gold, a total of 30,000 meters of drilling is now to be completed on the project located in the so-called Tombstone Gold Belt in the Yukon. This largest campaign ever undertaken at RC Gold is expected to focus on follow-up drilling at the Rhosgobel and Pukelman intrusive targets. In addition, expansion drilling is planned on the Blackjack deposit, where Sitka recently reported an outstanding 678 meters of 1.04 g/t gold, as well as drilling on other prospective targets on the 431 square kilometer property.
Conclusion: Sitka achieved outstanding drill success in 2024 on the RC Gold project, which already had an initial resource of more than 1.3 million ounces of gold, announced early 2023. The company not only hit in the area of the Blackjack deposit but also with the first diamond core drilling on the Rhosgobel intrusion 5 kilometers to the south. In addition, the first two diamond core drill holes in the target area of the Pukelman intrusion, for which assay results are still pending, showed visible gold. We are now awaiting the results from these two and a further four holes drilled in the Blackjack area before Sitka turns an even bigger wheel at RC Gold in 2025. Sitka’s share price has already risen by around 145% in 2024, so we are very excited to see what happens next year.
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According to §34b WpHG and §48f Abs. 5 BörseG (Austria) we would like to point out that GOLDINVEST Consulting GmbH and/or partners, clients or employees of GOLDINVEST Consulting GmbH hold shares in Sitka Gold and therefore a conflict of interest exists. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares in the company at any time. In addition, GOLDINVEST Consulting GmbH is remunerated by Sitka Gold for reporting on the company. This is another clear conflict of interest.
