After drilling DDRCCC-21-021 - the discovery zone was christened Black Jack, naturally - Sitka understandably as quickly as possible wanted to know what it had found and took the unusual step of initiating a winter drilling program in the Yukon. Which is only possible in a few areas there, at all. This program, which included four diamond core drill holes, has been completed, now, and Sitka is able to report another direct hit with this first drill hole of the winter program, because as was just now released, 62.0 meters with 1.21 g/t gold were encountered from a drill depth of 253.0 meters!
However, this was only part of a much wider intercept of 273 meters averaging 0.52 g/t gold between 46 and 319 meters of depth. Sitka was able to demonstrate several intercepts with strong gold mineralization:
- 124.0 metres at 0.81 g/t gold from 193.0 metres,
- 62.0 metres at 1.21 g/t gold from 253.0 metres,
- 14.0 meters at 3.85 g/t gold from 253.0 meters,
- 2.0 metres at 6.36 g/t gold from 313.0 metres!
Sitka CEO Cor Coe says the "fantastic" results from today's hole 22 are similar to those from hole 21, which discovered the Blackjack Zone. This, he says, strengthens the belief that a structurally controlled, high-grade corridor has been encountered here within RC Gold's larger, intrusion-related gold system.
Given the elevated gold values in hole 22, extending from surface to a depth of 364.6 meters in both intrusive and metasedimentary source rocks, as well as visible gold in several intercepts, CEO Coe, who incidentally is an experienced geologist himself, believes Sitka now has confirmation that this exciting new gold zone is indeed open to expansion.
Sitka is now eagerly awaiting the results of further drilling completed during the winter drill program and intends to focus on determining the parameters of this gold-bearing zone as well as increasing tonnage so that a resource estimate can then be prepared. Drilling of approximately 9,000 meters total in length is planned for the summer, which Sitka intends to work through with two drill rigs. Investors can look forward to a lot of newsflow !
Disclaimer: GOLDINVEST Consulting GmbH publishes comments, analyses and news at 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 the 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.
According 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.