Sitka Gold Corp (CSE:SIG; FRA:1RF; OTCQB: SITKF) today reported its maiden 43-101 standard mineral resource estimate: Based on 34 holes (11,630 meters) drilled between 2020 and 2022, the RC Gold Project thereafter comprises a total Inferred Mineral Resource of 1,340,000 ounces of gold, starting at surface. The Blackjack zone, discovered in late 2021, contains a higher-grade resource of 900,000 ounces of gold grading 0.83 g/t gold at a cut-off grade of 0.25 g/t gold.
Conclusion: Sitka Gold's speed and determination are second to none: In just over a year after the initial Blackjack discovery at the RC project in late 2021, Sitka now presents a remarkable maiden resource estimate of 1.3 million ounces of gold. Comparatively modest 11,000 meters of drilling (34 holes) have sufficed to achieve this. What is particularly encouraging is that the resource starts from surface and that it contains 900,000 higher grade ounces around Blackjack (just 20 holes) at average grades of 0.83 g/t. This figure is over 30 percent higher than the grades of the nearby Banyan Gold’s resource at Aurmac which now contains 4 Mio. ounces at 0,6 g/t applying a cutoff grade of 0,2 g/t. To get there took Banyan several hundreds of drill holes while Banyan’s initial resource started with 900.000 ounces at 0,5 t/t Gold. The difference in grades is no coincidence because, unlike Banyan, Sitka has hit the higher grade intrusive zone, not just the metasedimentary bedrock. Sitka intends to leverage this structural advantage as it continues to explore, seeking to connect the three individual parts of the project – Blackjack, Saddle and Eiger – into a cohesive resource area. In a best case scenario, the planned 10,000 meters of drilling could again double the now published resource by the end of this year. There are few gold explorers with similar momentum, if any.
Conclusion: The latest set of drill holes released by Sitka Gold today provides strong confirmation that gold mineralization along the lead structure of the so-called "Blackjack Fault" is reliably returning higher grade results. The result will be used to define an initial resource, but it also provides geologists with important guidance for planning upcoming drill campaigns. Once again, Sitka will drill through the winter, something some of its competitors cannot do due to lack of infrastructure. The high speed at which Sitka is expanding its discovery is likely to be positively received by the market. At the end of the day, the vision is to connect the three previously isolated individual parts of Blackjack, Saddle and Eiger over a distance of two kilometers to form a potential multi-million ounce deposit. This idea should now slowly attract the attention of larger gold companies.
Sitka Gold Corp (CSE: SIG; FRA: 1RF; OTCQB:SITKF) continues to systematically expand its blackjack discovery at its RC Gold Project in the Yukon. Initial results from stepout drilling again support the potential size and richness of the Blackjack Zone and an approximately 2 km x 500 m extension corridor (see Figure 1).