Drill holes 36 and 37 each encountered visible gold at two locations. (See Figure 1) Since February 2022, the Company has completed approximately 4990 meters of drilling in 16 holes. This represents the halfway point in the 10,000 metre drill program. All holes completed to date in the current phase of drilling have intersected significant intervals of mineralized quartz veins in intrusive and metasedimentary bedrock.
Figure 1: Stars mark locations where visible gold was encountered.
Figure 2: Visible gold in hole DDRCCC-22-031 at 150 m (1000 um = 1 mm).
Cor Coe, P.Geo., Director and CEO of Sitka Gold, commented, "We are very encouraged by the continued mineralization and multiple occurrences of visible gold observed as we continue both laterally and vertically in all directions from discovery hole 21 in the Blackjack Zone. Given what has been observed in drill core, we expect that assay results from this phase of drilling to date will further expand the known gold mineralization in the area and increase the parameters of what appears to be a very significant intrusion-related gold occurrence. With a year-round access road and proximity to other infrastructure such as the highway and power lines, the RC Gold Project is in an ideal location for future development."
CONCLUSION: It is a pleasure to see the original Blackjack discovery at the Sitka RC Gold Project growing and thriving in all directions. All 16 holes drilled this season have intersected significant intervals of mineralization. Visible gold has been encountered six times. This indicates the robustness of the project. Sitka's CEO Cor Coe is correspondingly confident. Since, unlike many other projects in the Yukon, the project is accessible all year round by road, there is in principle no reason to take a winter break after 10,000 meters of drilling. There is much to suggest that Sitka could use this strategic advantage to continue drilling year-round (as it did last winter). After all, what counts for the market is not only the discovery as such, but also the speed of discovery. This is where Sitka could score.
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.