{kanada_flagge}With clockwork reliability, Sitka Gold Corp. (CSE:SIG; FSE:1RF; OTCQB: SITKF) is delivering one successful drill result after another at its RC Gold Project in the Yukon. Step-out drill hole DDRCCC-23-042, the second hole of the 2023 drill program, was also a hit with promise.
{kanada_flagge}With clockwork reliability, Sitka Gold Corp. (CSE:SIG; FSE:1RF; OTCQB: SITKF) is delivering one successful drill result after another at its RC Gold Project in the Yukon. Step-out drill hole DDRCCC-23-042, the second hole of the 2023 drill program, was also a hit with promise.
Hole 42 was drilled to extend the Blackjack deposit at depth and to the southeast. The hole returned 215.1 meters (m) of 1.00 g/t Au from 273.71 m to 488.9 m. The interval from 308.6 m returned 180.2 m at 1.15 g/t Au including 2.35 m at 17.63 g/t Au m from 311.0 and 43.5 m at 1.66 g/t Au from 381.5 m. The intercept from 381.5 m returned 30.7 m of 2.19 g/t Au. Hole DDRCCC-23-042 was drilled 215 metres south of discovery hole DDRCCC-21-021 (see press release dated December 13, 2021) and is located approximately 80 metres west of DDRCCC-23-041 (see press release dated May 24, 2023). The hole was designed to test an extension of high-grade gold mineralization at depth and to the southeast of holes DDRCCC-22-025, DDRCCC-22-038 and below DDRCCC-23-041 (see news releases dated June 13, 2022, November 30, 2022 and May 24, 2023). Assay results are pending for DDRCCC-23-043, which was drilled as part of the 2023 winter drilling program.
Sitka is working to expand the recently announced maiden resource of 1,340,000 ounces of gold at the RC Gold Project. The resource to date includes two deposits: the Blackjack deposit containing 900,000 ounces of gold grading 0.83 g/t gold and the Eiger deposit containing 440,000 ounces of gold grading 0.50 g/t gold (see press release dated January 19, 2023). Both deposits are at/near surface, can be mined by open pit and are suitable for heap leaching, with initial tests indicating high gold recoveries of up to 94% with minimal NaCN consumption (see press release dated July 13, 2022).
Cor Coe, Director and CEO of Sitka Gold, stated, “Step-out drilling continues to demonstrate the significant expansion potential of our Blackjack gold deposit, with hole 42 further extending gold mineralization below hole 41. This season, the focus is on further delineating this large gold system with the goal of adding ounces to the Blackjack and Eiger deposits while exploring the potential to connect these deposits through the 1.5 km mineralized corridor and Saddle Zone.”
Figure 1: Overview map of drill holes in the Blackjack Zone.
Figure 2: Cross section of DDRCCC-23-042.
Figure 3: Overview map of the Blackjack, Saddle and Eiger zones.
Conclusion: Sitka is working enormously efficiently. Already the first two holes drilled this year could significantly expand the RC Gold Project resource. Historically, each meter of drilling has contributed approximately 100 ounces of gold to the resource. Applying this historical measure to the two holes drilled in the past, it would not be surprising if the two holes together added 400,000 ounces. Mind you, with two drill holes! At the same time, both holes (41 and 42) were step-out holes, which normally carry a higher risk. However, in the context of the RC Gold Project, the good results were expected because both holes were drilled along the Blackjack Fault, which has been identified as the lead structure of the mineralization. Continued step out drilling laterally to the east along the identified extensional corridor could also succeed in linking the Blackjack and Eiger gold deposits, some 2 kilometers apart, to form an overall resource. This is the stated goal of CEO Cor Coe.
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