Further Indications of Impressive, Widespread Gold Mineralization
Sitka Gold (WKN A2JG70 / TSXV SIG) has once again conducted an extremely successful drilling program on its RC Gold project in Yukon in 2024. Not only was the mineralization around the Blackjack deposit expanded with some spectacular drill holes, but Sitka also succeeded in demonstrating significant gold mineralization in the Rhosgobel Intrusion, located 5 kilometers to the south, with the very first drill holes. However, RC Gold is still considerably larger, encompassing the size of an entire mining district. Sitka is pursuing this enormous potential with a regional exploration program that has now also recorded successes!
In particular, the company led by CEO Corwin Coe reported up to 31.7 g/t gold in surface rock samples taken from the May-Qu target! May-Qu is also a target associated with a reduced intrusion-related gold deposit and is located about 22 kilometers east of the Blackjack deposit. The work succeeded in expanding this zone of widespread quartz veins to more than 400 meters, once again demonstrating the extent and discovery potential of Sitka’s property.
Additionally, the Sitka team was also able to confirm gold mineralization in the Mahtin target area, located another 17 kilometers north of May-Qu, with samples here yielding up to 11.05 g/t gold. Both in May-Qu and in the Mahtin target area, the company has now defined drill targets that it plans to pursue in the future.
At Least 16 Additional, Highly Promising Exploration Targets Identified
Sitka is not quite as far along with the Alp target area, but analysis of soil samples taken here, combined with geological mapping and prospecting results, suggests that the area could host a yet undiscovered, buried intrusion of the Tombstone Suite.
With its work, which included the collection of a total of 845 soil and 55 rock samples, Sitka has built upon extensive historical exploration activities. Most historical work in the eastern part of the project focused on the skarn-like mineralization at the margins of two intrusions, the Sprague Creek and Bos stocks (the Mahtin and May-Qu zones, respectively), both averaging about 5 square kilometers in size. This historical work yielded prospecting samples containing gold values from detection limit to 9.2 g/t Gold, but at the time, less attention was paid to the considerable potential for lower-grade intrusion-related gold mineralization within the deposits themselves. However, after analyzing the historical data, Sitka’s technical team was able to identify drill targets in the Mahtin and May-Qu zones and define at least 16 (!) additional, highly promising exploration targets that they are eager to pursue further.
Conclusion: In our view, the exploration results reported today are extremely promising. While Sitka has so far focused mainly on targets within the Clear Creek Intrusive Complex and the area around the Blackjack gold deposit, the results of the regional exploration program indicate that impressive, widespread gold mineralization is present on the huge RC Gold property, much of which has not yet been explored at all. One only needs to consider that Sitka has already identified 11 intrusions with associated gold mineralization on the project! In any case, we look forward to hearing more about these new targets that the company plans to further investigate as part of the largest work program ever conducted on RC Gold – which also includes up to 30,000 meters of diamond core drilling. Before that, however, drill results from six holes – from the Blackjack and Pukelman areas – from the last campaign are still pending. We are eager to see them!
