{kanada_flagge}At the end of last year, Canadian gold explorer Sitka Gold (WKN A2JG70 / CSE SIG) surprised the market with a spectacular drill hole on its RC Gold Project in the Yukon. 220 meters with 1.17 g/t gold from the surface were reported, whereupon the shares shot up by more than 100% with a gigantic trading volume of around 8.75 million shares. And now the company is following up with results that are almost as strong!
After drilling DDRCCC-21-021 – the discovery zone was christened Black Jack, naturally – Sitka understandably as quickly as possible wanted to know what it had found and took the unusual step of initiating a winter drilling program in the Yukon. Which is only possible in a few areas there, at all. This program, which included four diamond core drill holes, has been completed, now, and Sitka is able to report another direct hit with this first drill hole of the winter program, because as was just now released, 62.0 meters with 1.21 g/t gold were encountered from a drill depth of 253.0 meters!
However, this was only part of a much wider intercept of 273 meters averaging 0.52 g/t gold between 46 and 319 meters of depth. Sitka was able to demonstrate several intercepts with strong gold mineralization:
– 124.0 metres at 0.81 g/t gold from 193.0 metres,
– 62.0 metres at 1.21 g/t gold from 253.0 metres,
– 14.0 meters at 3.85 g/t gold from 253.0 meters,
– 2.0 metres at 6.36 g/t gold from 313.0 metres!
Sitka CEO Cor Coe says the “fantastic” results from today’s hole 22 are similar to those from hole 21, which discovered the Blackjack Zone. This, he says, strengthens the belief that a structurally controlled, high-grade corridor has been encountered here within RC Gold’s larger, intrusion-related gold system.
Given the elevated gold values in hole 22, extending from surface to a depth of 364.6 meters in both intrusive and metasedimentary source rocks, as well as visible gold in several intercepts, CEO Coe, who incidentally is an experienced geologist himself, believes Sitka now has confirmation that this exciting new gold zone is indeed open to expansion.
Sitka is now eagerly awaiting the results of further drilling completed during the winter drill program and intends to focus on determining the parameters of this gold-bearing zone as well as increasing tonnage so that a resource estimate can then be prepared. Drilling of approximately 9,000 meters total in length is planned for the summer, which Sitka intends to work through with two drill rigs. Investors can look forward to a lot of newsflow !
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