In total, the 2022 company has now completed 20 diamond core holes (6,500 drill meters), focusing in particular on the lateral and vertical extension of the Blackjack zone identified last December with discovery hole 21 (Blackjack).
And Sitka achieved a 100% hit rate, encountering mineralization in all holes and even visible gold in the majority of holes! Incidentally, the company conducted the first ever diamond core drilling on the Bos Stock target, an intrusion-related gold deposit target some 24 kilometers southeast of the Blackjack Zone - but within the RC Gold Project, which covers a massive 376 square kilometers.
As Sitka CEO Cor Coe explained, the second phase of drilling was focused on better understanding and expanding the mineralization of the Blackjack Zone. At the same time, they wanted to try and achieve the necessary density of drilling to enable the preparation of an initial resource estimate, Coe added. He expects that analytical results from the summer drilling will significantly improve understanding of the control structures of the Blackjack mineralization.
Sitka has sent samples to the lab from all 16 holes drilled during the second phase of drilling, which began June 1. The final holes completed during the second phase of drilling intersected planar quartz-sulfide veins and veinlets in megacrystic granite and quartz-feldspar porphyry dykes and veins and in nearby intruded metasedimentary rocks. Additional visible gold was identified in all final drill holes, including the deepest observation of visible gold at a depth of 417.25 metres in hole DDRCCC-22-39.
Sitka Gold
CEO Coe also pointed out that Sitka is not the only company that has recognized the TombstoneGold Belt's potential for significant gold deposits. The widths and grades encountered with Blackjack Zone drilling to date are very significant when compared to peers such as Victoria Gold (WKN A2PVRH) and Banyan Gold (WKN A1T64A), which are already exploiting or exploring their deposits in the Tombstone gold belt, he explained.
Victoria Gold is currently producing very profitably from the Eagle Gold deposit (As we reported), which had 214 Mt at 0.63 g/t gold before production began, while Banyan Gold recently reported a total resource of 207.0 Mt at 0.60 g/t gold for the Airstrip, Powerline and Aurex Hill deposits. Sitka's discovery drilling at Blackjack had proven 220.1 meters at 1.17 g/t gold including 50.5 meters at 2.08 g/t gold.
Conclusion: There are indications that Sitka's summer drill program at the Blackjack zone could be a resounding success, too, just like the winter drilling. On the one hand, because the company encountered the expected mineralization with every drill hole and, on the other hand, because visible gold was detected in numerous drill holes. We are already very excited about the results of the analysis, as obviously is the market, which has already pulled the Sitka shares significantly north in recent weeks in anticipation of news.
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