{kanada_flagge}It hasn’t been long since gold explorer Sitka Gold (WKN A2JG70 / CSE SIG) presented its first resource estimate for the RC Gold Project in the Yukon. With only 34 drill holes, they managed to prove up 1.34 million ounces of gold starting at surface. An impressive success in our view, on which the company is now building with its summer drill program. And this is looking successful, already. As Sitka has now announced, the latest drill holes all encountered visible gold and were able to expand the known mineralization once again!
{kanada_flagge}It hasn’t been long since gold explorer Sitka Gold (WKN A2JG70 / CSE SIG) presented its first resource estimate for the RC Gold Project in the Yukon. With only 34 drill holes, they managed to prove up 1.34 million ounces of gold starting at surface. An impressive success in our view, on which the company is now building with its summer drill program. And this is looking successful, already. As Sitka has now announced, the latest drill holes all encountered visible gold and were able to expand the known mineralization once again!
The RC Gold Project resource is comprised of the Blackjack and Eiger deposits, both of which remain open in all directions. Currently, CEO Corwin Coe’s company is focused on expanding the mineralization of Blackjack. There, they proved up 900,000 ounces of gold averaging 0.83 g/t gold as part of the total resource and have already completed four drill holes since then. Drill hole number five – DDRCCC-23-047 – is also already underway.
And so far, Sitka has been successful with each of these holes, expanding the gold mineralization and also observing visible gold in all holes already logged (043, 044 and 045)! It will be interesting to see what the results of the laboratory analysis will show in the future.
For hole 043, Sitka had previously reported 422 metres of 0.74 g/t gold from surface, including 112 metres of 1.24 g/t gold and 14 metres of 3.28 g/t gold. The drill hole ended in mineralization, though, so Sitka deepened it again as part of the summer drilling program. In doing so, the company said it intersected an additional 104.6 meters of gold mineralization, bringing the total depth to 526.4 meters!
“The initial drill holes completed during the summer drilling campaign at RC Gold again highlight the expansion potential of our Blackjack gold deposit, with additional visible gold observed in every drill hole recorded to date,” commented CEO Cor Coe. This mineralization, with visible gold appearing in drill holes, has the potential to “significantly” increase the tonnage of known mineralization at Blackjack, he stated further.
Sitka also noted that drill holes DDRCCC-23-044 and 045 are significant because they intersected the strongest alteration and quartz sulphide development encountered to date in the metasedimentary unit in drilling to date at the RC project. This, the company said, indicates the potential for this metasedimentary unit to host significant gold mineralization.
Conclusion: Laboratory results on the samples from the recent drilling are of course still pending, but in our view, it is already apparent that Sitka will be able to significantly expand the existing resource with its summer drilling program. Visible gold in drill core is not a guarantee of high gold grades, but it is usually a good indication. We are excited!
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Pursuant to §34b WpHG and §48f Abs. 5 BörseG (Austria) we would like to point out that GOLDINVEST Consulting GmbH and/or partners, principals or employees of GOLDINVEST Consulting GmbH hold shares of Sitka Gold and therefore a conflict of interest exists. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares of the company at any time. Furthermore, GOLDINVEST Consulting GmbH is remunerated by Sitka Gold for reporting on the company. This is another clear conflict of interest.
