Gold mineralization is consistent in the area

Visible gold in drill core at Sitka Gold Corp.’s (TSX-V:SIG; FSE:1RF; OTCQB:SITKF) RC Gold Project in the Yukon has proven to be a reliable early indicator for subsequent drill hole assays. Of the 56 drill holes analyzed to date on the project, those with visible gold later returned the highest grade results. Apparently Sitka Gold Corp. has hit it again in its first drill hole of the new 2024 season, the 57th, as the drill core again shows visible gold. This is particularly encouraging because this hole is a step-out from the best hole (047) drilled on the project to date. Hole 057 is also the first hole of up to 15,000 meters of diamond drilling to be drilled at RC Gold this year.

Hole 057 was drilled to a depth of 550.2 meters and was a step-out to the west from hole DDRCCC-23-047, which was the highest grade intercept to date on the project in the current southern extent of the Blackjack Zone and returned 219.0 meters of 1.34 g/t gold, including 124.8 meters of 2.01 g/t gold and 55.0 meters of 3.11 g/t gold. Drill hole DDRCCC-24-058 (hole 058) is located approximately 70 meters north of hole 57 and is currently being drilled at a dip of -60 degrees and an azimuth of 60 degrees (see Figure 1). Hole 57 is currently being logged and cut in preparation for delivery to the assay laboratory.

Cor Coe, Director and CEO of Sitka Gold, commented, “The observations of visible gold in the first completed hole of our ongoing winter diamond drilling campaign at RC Gold confirms that gold mineralization is consistent in the area. This step-out drilling from hole 47, which has been our best hole to date on the project, demonstrates the real potential to extend high-grade gold mineralization south and southeast of the current Blackjack deposit, which remains open in all directions.”

Figure 1: Working map showing drill hole locations at the Blackjack gold deposit

Drill hole DDRCCC-24-057 was drilled to test the southeast extension of the well mineralized quartz monzonite intrusion intersected in drill hole DDRCCC-23-047. Two broad zones of feldspar megacryst quartz monzonite intrusion (49.9 – 160.9 m and 446.6 – 509.9 m) were intersected within a large package of Late Proterozoic Yusezyu Formation (Hyland Group) biotite schist, phyllite and quartzite. A narrow lamprophyre dyke was intersected from 241.6 to 243.2 m along with numerous narrow (1-2 m) quartz monzonite dykes intersecting the Yusezyu Formation metasediments (see Figure 2).

Both intrusions were cut by abundant 1-2 cm thick quartz veins, quartz-arsenopyrite veins and predominantly arsenopyrite veins with narrow cm sericite alteration halos.

Figure 2: Cross sections of drill holes DDRCCC-24-047 and DDRCCC-24-057

The main objectives of this year’s drilling will be to expand and define targets within the Clear Creek Intrusive Complex, which currently hosts the Blackjack and Eiger gold deposits – both of which are open in all directions – and the Saddle Zone (see Figure 3). In addition, drilling is aimed at advancing drill-ready targets elsewhere on the 386 square kilometer property.

Figure 3: Overview map of the northern extent of the Clear Creek Intrusive Complex. Yellow stars indicate where surface rock samples or drill hole intercepts have returned >10 g/t gold. The Saddle Zone target is largely untested by drilling and contains the largest and strongest gold in soil anomaly on the property.

Summary: The cross-section plot (Figure 2) of both holes 47 and 57 basically tells the whole story in a nutshell. Hole 57 was drilled adjacent to and below hole 47. Just below the interval where hole 47 reported the highest grades, hole 57 also hit visible gold. For Sitka, there can be little better confirmation that the company is drilling in the right structure – presumably one of the intrusions itself, from which the gold later migrated into the surrounding meta-sediment. Finding the intrusion after which the Yukon deposit type is ultimately named is likely to be critical to future drilling success, as the intrusive zones tend to be higher grade and they can be traced structurally. This bodes very well for the current drilling program, that only just started.

Disclaimer: GOLDINVEST Consulting GmbH publishes comments, analyses and news on 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.

Latest News

Latest Videos