{kanada_flagge}Gold explorer Sitka Gold (WKN A2JG70 / CSE SIG) ended 2021 with spectacular news. Namely, in mid-December, the company reported a drill hole that was virtually continuous from surface, encountering multiple intervals of elevated gold values to a depth of 220.1 meters!
The average gold mineralization over the entire 220.1 meters length was 1.17 g/t gold (from 6.0 to 226.1 meters). Other intervals returned 103.2 metres of 1.61 g/t gold from 80.8 metres depth, 50.5 metres of 2.08 g/t gold from 120.0 metres, 20.5 metres of 2.85 g/t gold from 150.0 metres and 6.1 metres of 4.30 g/t gold from 120.0 metres. At depths between 80.8 and 81.5 meters, two particularly high-grade values were recorded: 0.2 meters with 35.70 g/t gold from 80.8 meters and 0.5 meters with 9.81 g/t gold from 81.0 meters.
It is hardly surprising, then, that Sitka is keen to return to activity as soon as possible at the RC Gold project in the Yukon, where this hole was drilled. Accordingly, drill programs at RC Gold will resume with step-out drilling to this discovery hole, followed by additional systematic drilling along a large, overlying gold-in-soil anomaly (>100 ppb to >500 ppb), approximately 2 kilometers long and 500 meters wide, interpreted to be the surface signature of a large intrusion-related gold system originally discovered in 2020.
Sitka continues to rely on the specialists at New Age Drilling Solutions, based in the Yukon, who conducted the previous successful drill programs on RC Gold, to conduct the winter drill program as well as a subsequent summer drill program totaling up to 10,000 meters.
The exceptionally good results from the above drilling could be a “gamechanger” for Sitka and the RC Gold project, as we wrote only recently. According to CEO Corwin Coe, the company believes that behind this might be a structurally controlled, high-grade corridor that runs through this large gold system. This, Coe adds, has greatly increased the potential of the area to host a large gold deposit with economically attractive gold grades.
The task now is to delineate the extent of what appears to be a strongly gold-bearing system and to establish an initial resource estimate in the area of this district-sized project – and to do so as quickly as possible. In addition to the new drilling now announced, pending results from five holes drilled last year should provide insight into how gold mineralization is distributed at RC Gold. So, 2022 could be very exciting for Sitka and the company’s shareholders – and, if successful, potentially very lucrative too, as the market’s reaction to the latest drill results showed.
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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, principals or employees of GOLDINVEST Consulting GmbH hold shares of Sitka Gold and therefore a conflict of interest exists. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares of the company at any time. Furthermore, GOLDINVEST Consulting GmbH is remunerated by Sitka Gold for reporting on the company. This is another clear conflict of interest.
