Deposits remain open
The extremely successful exploration of the RC Gold project in Canada’s Yukon has led to Sitka Gold (CSE SIG / WKN A2JG70) being able to define the Black Jack and Eiger deposits, which, although only part of the property, already have a total resource of 1.34 million ounces of gold. Now, CEO Corwin Coe’s company has secured 100% of the rights to these deposits. Which makes sense, as the prospects for increasing these resources are very good!
Accordingly, Sitka has secured a 100% interest in the Clear Creek property, which is part of the RC Gold Project and contains Blackjack and Eiger. Having already completed all required exploration activities and payments under the existing agreement, the Company has now made a final payment of CAD 90,000 in cash and issued 650,000 common shares. Sitka has also secured an additional 59 Yukon Quarts Mining Claims where highly prospective areas were recently identified. The new claims are directly adjacent to the RC Gold areas. The project now covers an area of 386 square kilometers.
Both deposits remain open
The Blackjack and Eiger deposits have a pit constrained resource estimate of 900,000 ounces at 0.83 g/t gold and 440,000 ounces at 0.5 g/t gold. This results in a total of 1.34 million ounces averaging 0.68 g/t gold. As both deposits remain open both laterally and at depth, there is the potential to significantly expand the known mineralization. And the company has already completed 16 drill holes for 6,500 meters since the publication of the first resource, some of which have yielded very strong results.
Accordingly, CEO Cor Coe views the acquisition of the 100% interest in Clear Creek with Black Jack and Eiger as an important milestone for Sitka. Coe continued, “Drilling completed this year has underscored the potential to add significant tonnage with higher gold grades to our existing resource at RC Gold, with our best hole to date returning 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, in hole DDRCCC-23-047 at Blackjack. The Clear Creek Property also covers the northern extent of the Clear Creek Intrusive Complex where several additional targets with the potential to host intrusion-related gold deposits of significant size and grade remain to be drilled (see Figure 1). The contribution of prospectors in the discovery of mineral deposits cannot be overstated, and we are pleased to have an excellent relationship with the vendor of the Clear Creek property, well-known Yukon prospector Bernie Kreft, whom we wish continued success in all his future exploration endeavors. With this prospective property now 100% owned by Sitka, we look forward to continuing our exploration efforts and expanding the maiden mineral resource estimate and making additional new discoveries.”
Conclusion: Sitka Gold is closing the year strongly after an already successful 2023 exploration season. Not only was the company recently able to announce the entry of the commodities experts from Crescat Capital, but it has now also secured 100% of the Blackjack and Eiger deposits. Which means that the potential of these deposits belongs to Sitka alone, now. We are very excited to see what further drilling there and at other RC Gold sites will yield in the future – especially on the newly staked claims. With its well-filled treasury, Sitka should be facing a more than exciting year 2024.
Disclaimer: GOLDINVEST Consulting GmbH publishes comments, analyses and news on https://goldinvest.de. These contents serve exclusively the information of the readers and do not represent any kind of call to action, neither explicitly nor implicitly they are to be understood as an assurance of possible price developments. Furthermore, they do not in any way replace individual expert investment advice and do not constitute an offer to sell the stock(s) discussed 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. There is no contractual relationship between GOLDINVEST Consulting GmbH and its readers or the users of its offers, because our information refers only to the company, but not to the investment decision of the reader.
The acquisition of securities involves high risks, which can lead to a total loss of the invested capital. The information published by GOLDINVEST Consulting GmbH and its authors is based on careful research, however, any liability for financial loss or the content guarantee for timeliness, accuracy, adequacy and completeness of the articles offered here is expressly excluded. Please also note our terms of use.
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.
