Treasury Well-Stocked with 15 Million CAD
Recently, Canadian Sitka Gold (WKN A2JG70 / TSXV SIG) raised another 5 million Canadian dollars for further exploration of their RC Gold project in Yukon. This is understandable, as the 2024 drilling season has already been highly successful! With a total of 15 million CAD now in the treasury, the debt-free company plans to conduct its largest drilling program to date on the project in 2025!
Sitka has commissioned experts from Kluane Drilling to carry out a total of 30,000 meters (!) of drilling on RC Gold in the coming year. Kluane is the logical choice for CEO Cor Coe’s company, as the Whitehorse-based firm has over 30 years of experience with drilling operations in Yukon and has already handled Sitka’s successful drilling programs for the past two years.
Focus on Rhosgobel and Pukelman
In total, as mentioned, 30,000 drill meters are now planned to be sunk on the RC Gold project, located in the so-called Tombstone Gold Belt in Yukon, during the next drilling phase. This largest campaign ever conducted on RC Gold is expected to focus on follow-up drilling on the Rhosgobel and Pukelman intrusion targets. Additionally, expansion drilling is planned on the Blackjack deposit, from which Sitka recently reported outstanding 678 meters with 1.04 g/t gold, as well as drilling on other promising targets across the 431 square kilometer property.
Conclusion: In 2024, Sitka achieved outstanding drilling successes on the RC Gold project, which already has an initial resource of more than 1.3 million ounces of gold. This success was not only in the Blackjack deposit area but also with the first diamond core drilling on the Rhosgobel intrusion 5 kilometers further south. Moreover, the first two diamond core drillings in the Pukelman intrusion target area, for which assay results are still pending, showed visible gold. Now we await the results of these two as well as four additional boreholes that were sunk in the Blackjack area, before Sitka then turns an even bigger wheel on RC Gold in 2025. In 2024, Sitka’s stock has already gained around 145%, so we are very eager to see how things continue next year.
