This time the Sitka geologists are focussing in particular on the gold intersections south of the so-called Black Jack Zone
Under winter conditions, Sitka Gold Corp (TSX-V:SIG; FSE:1RF; OTCQB:SITKF) has commenced this year’s winter/summer drill programme at its RC Gold Project in the Yukon. The 15,000 metre drill programme is the most extensive drilling to date on the project in one year. This time the Sitka geologists are focussing in particular on the gold intersections south of the so-called Black Jack Zone, where some of the highest-grade gold discoveries to date have been made. Successful drill hole DDRCCC-23-047 intersected an interval of 219.0 metres of 1.34 g/t gold, including 124.8 metres of 2.01 g/t gold and 55.0 metres of 3.11 g/t gold. (Figure 1) The RC Gold Project is accessible by road all year round. It is part of the prolific Tombstone Gold Belt and is located approximately 100 kilometres east of Dawson City, Yukon. The 386 square kilometre RC project is strategically located midway between Victoria Gold’s Eagle gold mine – Yukon’s newest gold mine, which reached commercial production in the summer of 2020 – and Victoria Gold’s Brewery Creek gold mine.
Other drill targets this year include the expansion of the well-defined Clear Creek intrusive complex (see Figure 2), which currently hosts an initial resource of 1.34 million ounces of gold comprised of the Blackjack and Eiger(1) gold deposits, both of which are open in all directions. In addition, further drillable targets are to be developed elsewhere on the 386 square kilometre property.
Cor Coe, Director and CEO of Sitka Gold, commented: “We are very pleased to resume drilling at our flagship RC Gold project. This winter drill programme will focus primarily on the southern extension of the Blackjack Zone where we have found the highest grade gold intercepts on the project to date. Gold grades of up to 3.11 g/t gold over 55 metres are remarkable for a reduced intrusion-related gold system and the data to date indicate that this high-grade extension of the Blackjack gold deposit should continue to the southeast and at depth. While step-out drilling in this area could add significant grade and tonnage to the existing resource, we also look forward to following up on several other high-priority, drill-ready targets on our district-scale and largely unexplored land package this year.”
Summary: Since a few days Sitka Gold is listed on the TSXV Exchange and no longer on the Canadian Venture Exchange. The company deliberately sought this up-listing at this time because it makes the share tradable for new institutional investors. Among others, the market leader in the Yukon, Snowline Gold, also trades on the TSXV Exchange. While the new drilling on the RC project in the Yukon is just starting, the results of four important drill holes on the Alpha project in Nevada are still pending. There Sitka wants to substantiate its thesis that Alpha is a Carlin-type gold deposit. After several years of preparation, recent drilling has tested for the first time a 2.5 kilometre long corridor that Sitka geologists believe has the best potential for high-grade gold mineralisation. The market has paid little attention to Alpha to date, but the geology of Alpha, like the RC project, has the potential for a multi-million ounce gold project.
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