Sitka Gold Corp. (TSXV: SIG; FSE: 1RF; WKN: A2JG70) has released an updated Mineral Resource Estimate (MRE) for the RC Gold project in Canada’s Yukon Territory – and it’s more than just impressive!
The new resource is based on drilling conducted by Sitka Gold at RC Gold in 2025 and includes, most notably, an initial estimate for the Rhosgobel gold deposit, which was only discovered at the end of 2024, as well as a revised resource estimate for the Eiger gold deposit. And Rhosgobel is proving to be a real “gold monster”!
Sitka Gold massively expands resource estimate!
With the new resource estimate, the RC Gold project now has 1,291,000 ounces of gold in the indicated category – exclusively in the Blackjack deposit with 39.96 million tonnes at 1.01 g/t gold (cut-off 0.30 g/t gold). In the inferred category, Sitka Gold now has a total of 3,829,000 ounces of gold (cut-off also 0.30 g/t gold)! These are distributed across three deposits: 2,250,000 ounces at Rhosgobel (100.68 million tonnes at 0.70 g/t gold), 1,044,000 ounces at Blackjack (34.60 million tons at 0.94 g/t gold) and 535,000 ounces at Eiger (32.14 million tons at 0.52 g/t gold).
This means that the RC Gold project now comprises a total of 5.12 million ounces of gold, across indicated and inferred resources! Sitka Gold emphasizes that the gold mineralization at the Blackjack deposit is being further expanded through ongoing drilling and that the deposit is open “in all directions.” The company also anticipates a further update of the Blackjack resource estimate after completion of the 2026 drilling program.
CEO Cor Coe particularly highlights in the announcement that the newly added ounces from Rhosgobel and the update at Eiger significantly expand the “road-accessible” resources of the RC Gold project. At the same time, he classifies the development at Rhosgobel as a rapid continuation of a new discovery as only one field season has passed between the discovery at the end of 2024 and the first resource estimate of 2.25 million ounces.
Rhosgobel: 72 drill holes, model with higher-grade component and tungsten indication
The Rhosgobel gold deposit is based on data from 72 drill holes with a total of 15,396 meters of drilling. Historically, 27 reverse circulation drill holes were completed by Kennecott in 1995. Sitka Gold contributed 45 core drill holes between 2024 and the end of 2025, which were incorporated into the modeling.
The experts at GeoSim identified a higher-grade component in the model with >1.0 g/t gold, which is traced from the surface to a currently modeled depth of approximately 300 meters. Sitka Gold notes that the shape and grade distribution of this mineralization could potentially allow for a higher-grade “starter pit” approach, which may become relevant for planning as the project progresses.
In addition, Sitka Gold is publishing a sensitivity analysis of the Rhosgobel resource estimate to changes in cut-off grades. At a 0.20 g/t cut-off, 129.683 million tonnes grading 0.6 g/t and 2,481,000 ounces are reported; at a 0.25 g/t cut-off, 115.106 million tonnes with 0.64 g/t e and 2,380,000 ounces. The base case is 0.30 g/t with 100.677 million tonnes at 0.70 g/t and 2,250,000 ounces. Higher cut-offs of 0.35 g/t and 0.40 g/t reduce the tonnage to 89.620 million tons and 78.687 million tons, respectively, while the grades increase to 0.74 g/t and 0.79 g/t, respectively; with ounces then standing at 2,135,000 and 2,004,000, respectively.
In addition to gold, Sitka Gold points to scheelite, a tungsten mineral. For drill hole DDRCRG-24-002, 75.5 meters with 0.132% WO3 from 119.5 meters and 46.19 meters with 0.121% WO3 from 223.0 meters are mentioned, among others. In DDRCRG-25-004, the company reports 85.4 meters grading 0.138% WO3 from 94.0 meters, 60.0 meters grading 0.134% WO3 from 202.0 meters, and 35.0 meters grading 0.121% WO3 from 285.0 meters. In addition, approximately 5,500 samples from 32 drill holes have been submitted for XRF tungsten analysis to better understand the distribution. Sitka Gold clarifies that it is not yet known whether tungsten can be extracted economically; further metallurgical work will be conducted to evaluate this potential.
Eiger and 2026 outlook: 60,000 metres planned, 30,000 metres of that for Rhosgobel alone
The updated resource estimate for the Eiger gold deposit is based on 21 drill holes with 8,540 meters of core drilling. According to Sitka Gold, all drilling there was carried out by the company itself in 2020, 2021, and 2025. The result: 535,000 ounces of inferred gold in 32.14 million tons at 0.52 g/t gold, also from surface and at a 0.30 g/t cut-off.
Sitka Gold has already started an extensive program to cover the entire project in 2026: A total of 60,000 meters of diamond drilling is to be carried out across the RC Gold project – according to the company, this is roughly double the total number of meters drilled to date. For Rhosgobel alone, 30,000 meters are planned. According to the company, Rhosgobel remains open in all directions and lies within a 1.5 x 2.0 kilometer gold-in-soil anomaly, much of which has not yet been drilled.
The RC Gold Project covers a contiguous area of 431 square kilometers in the Tombstone Gold Belt and is located approximately 100 kilometers east of Dawson City. Dawson City has a 5,000-foot paved airstrip; the project is accessible via a year-round gravel road from the Klondike Highway, with a travel time of approximately 2 hours from Dawson City. Sitka Gold also highlights the location between the Eagle Gold Mine and the formerly producing Brewery Creek Mine – a context that is important for classifying the district as an established gold area in the Yukon.
Conclusion: That’s how fast it things can go! In just one drill season, Sitka has proven up a resource of more than 2 million ounces of gold in the Rhosgobel target area and, together with the other deposits and across all resource categories, has now proven a resource estimate of more than 5 million ounces of gold. We consider this a sensational development, but it is obviously only the beginning of the exploration of the system that Sitka is exploring for RC Gold. After all, 60,000 more drill meters are planned for this year alone and all known mineralization so far is still open.
