First hole in Rhosgobel intrusion returns 119 meters of 1.05 g/t gold!
The visual results of the first two drill holes ever drilled by the Canadian gold company Sitka Gold (WKN A2JG70 / TSXV SIG) on the Rhosgobel intrusion have already exceeded the company’s expectations at the beginning of October and showed visible gold in numerous instances. The drill results now presented show strong grades over thick mineralized intervals!
Rhosgobel is the largest and southernmost of the intrusions contained to date in the Clear Creek Intrusive Complex (CCIC) – part of Sitka’s RC Gold property in the Yukon – and is located approximately 5 kilometers from the company’s already defined Blackjack deposit. The known intrusions within the CCIC cover an area of approximately 8 by 15 kilometers (!) and, according to Sitka, likely share a common magmatic source at depth. All of the intrusions also have gold mineralization, which the company believes indicates that the CCIC forms a large mineralized system that has the potential to host multiple gold deposits.
Both holes with >1 g/t gold over significant widths
This thesis is of course supported once again by the drill results that have now been reported. For drill hole DDRCRG-24-001, the first diamond core hole ever drilled at Rhosgobel, Sitka announced 164.8 meters of 0.82 g/t gold starting 9 meters below surface! Included are intercepts of 119 meters of 1.05 g/t gold, 37.9 meters of 2.05 g/t gold and 11.5 meters of 4.32 g/t gold. An interval of 1.8 meters from 102 meters depth even yielded 16.25 g/t gold!
Drill hole DDRCRG-24-002 also returned strong gold mineralization with 0.6 g/t gold over 173.3 metres, including 28.4 metres of 1.37 g/t gold and 12.4 metres of 2.43 g/t gold! The Company also announced that initial drilling at Rhosgobel has encountered abundant sheeted veining and multiple occurrences of visible gold, with results confirming that strong gold mineralization continues from surface to at least 300 metres depth!
Assay results are pending for a further six diamond core holes, including the first hole ever drilled on the Pukelman intrusion, located approximately 2 kilometers southeast of the Blackjack gold deposit. Here too, sheeted veining has been observed along with occurrences of visible gold in drill core…
Map showing multiple priority target areas across the recently consolidated Clear Creek Intrusive Complex along with the location of 2024 diamond drilling completed at the Rhosgobel intrusion approximately 5 km south of the Blackjack and Eiger deposits. The Rhosgobel intrusion is approximately 3 km long and 2 km wide. Higher-grade gold mineralization is modelled along intersections of structural corridors that form conduits for gold mineralization. A large mineralized system highlighted by the numerous gold-bearing intrusions and intersecting structural corridors similar to that being defined at the Blackjack Deposit exist at many other target areas within the Clear Creek Intrusive Complex.
As Sitka CEO Cor Coe explained, expectations for the company’s first Rhosgobel drill holes have been exceeded. Coe, himself a geologist, sees them as confirmation that the robust gold mineralization continues to a depth of at least 300 metres. Laterally, Coe continues, the mineralization, which is contained within a very large – 2 x 1.5 kilometer with values of >100 to >500 ppb – gold in soil anomaly, is still open in all directions.
The experienced geologist went on to say that this bodes well for the discovery of a third significant gold deposit at the RC Gold project. This is because elsewhere on the project site it has already been demonstrated in the past that geochemical surface features show a strong correlation with underlying, intrusion-related gold mineralization – such as at the still growing Blackjack deposit
Conclusion: The drill results presented today by Sitka Gold are not only convincing with their grades and the length of the mineralization intercepts, but also confirm once again that there is the potential to prove a deposit with several million ounces of gold at Rhosgobel, too! This is also supported by the fact that earlier historical drilling (Kennecott, 1995) had shown widespread gold mineralization within the Rhosgobel intrusion, but only to shallow depths. With the first diamond core drilling, however, Sitka has encountered gold mineralization at significantly greater depths, demonstrating the potential for a much larger mineralized system! Following a recent financing, Sitka Gold now has CAD 15 million in cash, which, as the company is also completely debt free, puts it in an excellent position to advance this and other targets at RC Gold!
Cor Coe, CEO and Director of Sitka Gold, commented, “Sitka’s initial drilling on the Pukelman target has returned extremely encouraging results, with visible gold observed in both drill core and a surface rock sample returning 67.9 g/t gold, highlighting the potential for this area to host strong gold mineralization. Since acquiring the Clear Creek property in June of this year, the company has made impressive progress, with the first diamond drilling at the Rhosgobel Intrusion revealing numerous visible gold occurrences and two diamond drill holes recently completed at the Pukelman Intrusion, where visible gold was also observed in the drill core. Additional exploration work included an extensive soil geochemical survey that returned up to 1,645.8 ppb gold between the Blackjack deposit and the Pukelman stock, as well as mapping and prospecting with rock sampling that returned strong gold mineralization. These results highlight the potential for discovery of another intrusive-related gold deposit at RC Gold.
Conclusion: Sitka Gold has only drilled 76 diamond drill holes totaling approximately 28,535 meters to date on its Yukon RC project. Of these, 20 holes totaling 9,263 meters were completed in 2024. The objective was to expand the maiden resource around Blackjack, but also test new targets such as Rhosgobel and Pukelman where there was limited historical information from RC drilling. The success rate and high efficiency of the drilling have become a hallmark of Sitka Gold. The highlight of drilling in 2024 to date was 678.1m @ 1.04 g/t gold from 4.4m, including 409.5m @ 1.36 g/t gold from 273.0m in drill hole DDRCCC -24-068. Assay results are still pending from a total of eight drill holes at Blackjack, Rhosgobel (5 km south of the Blackjack deposit) and Pukelman (2 km southeast of the Blackjack deposit), which target known intrusion-related gold mineralization.
Disclaimer: GOLDINVEST Consulting GmbH publishes comments, analyses and news on https://goldinvest.de. This content is intended solely for the information of readers and does not constitute any kind of call to action; neither explicitly nor implicitly are they to be understood as a guarantee of any price developments. Furthermore, it is in no way a substitute for individual expert investment advice and does not constitute an offer to sell the share(s) in question or a solicitation to buy or sell securities. This is expressly not a financial analysis, but an advertising/journalistic text. Readers who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. No contractual relationship is established between GOLDINVEST Consulting GmbH and its readers or the users of its offers, as our information relates only to the company and not to the reader’s investment decision.
The acquisition of securities involves high risks that can lead to the total loss of the capital invested. The information published by GOLDINVEST Consulting GmbH and its authors is based on careful research, but any liability for financial losses or the guarantee that the content of the articles offered here is up-to-date, correct, appropriate and complete is expressly excluded. Please also note our terms of use.
According to §34b WpHG and §48f Abs. 5 BörseG (Austria) we would like to point out that GOLDINVEST Consulting GmbH and/or partners, clients or employees of GOLDINVEST Consulting GmbH hold shares in Sitka Gold and therefore a conflict of interest exists. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares in the company at any time. In addition, GOLDINVEST Consulting GmbH is remunerated by Sitka Gold for reporting on the company. This is another clear conflict of interest.
