New program follows best RC gold drilling to date
Here we go again! Following the major exploration and drilling successes of the past year, Sitka Gold (WKN A2JG70 / CSE SIG) intends to start the next drill program at its main RC Gold project in Yukon, Canada, shortly. The fact that Sitka, unlike many other explorers in northern Canada and especially in the Yukon, can already start drilling again is due to the fact that the extremely promising project is accessible all year round.
CEO Cor Coe’s company is planning up to 15,000 meters of drilling on the property in the resource-rich Tombstone Belt to build on the successes of 2023. At the beginning of 2023, Sitka had already announced an initial, pit-constrained resource totaling 1.34 million ounces of gold, spread across the Blackjack (900,000 gold at 0.83 g/t gold) and Eiger (440,000 ounces of gold at 0.50 g/t gold per ounce) deposits.
New program follows best RC gold drilling to date
Since then, Sitka has consistently presented excellent drill results, including an intercept of 219.0 meters of 1.34 g/t gold. This also included 124.8 meters of 2.01 g/t gold and 55 meters of 3.11 g/t gold. Drill hole DDRCCC-23-047 thus returned the highest grade mineralization the company has ever intersected at RC Gold!
And it is precisely there, at the southern extension of the Blackjack Zone, that Sitka, or the service provider now engaged, Kluane Drilling, will begin drilling. Kluane has over 30 years of experience with diamond core drilling in the Yukon and worldwide and has already carried out the company’s last drill programs. Crew and equipment preparations have now begun and mobilization for the winter drill program at RC Gold is expected to commence next month.
Conclusion: As already mentioned, Sitka Gold had a very successful year in 2023. And in contrast to the performance of many other explorers, this has also been reflected in the share price. Which has risen by around 65% in the last 12 months – despite the difficult environment. We are excited to see what the new drill program will bring, in particular whether it will reveal further high-grade intersections such as DDRCCC-23-047, which would be significant in our opinion. The high grades in hole 47, for example, were one of the reasons that the experts at Crescat Capital and their technical advisor Quinton Hennigh, personally, recently decided to invest in Sitka.
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