Excellent news from Sitka Gold (CSE SIG / WKN A2JG70), once again! The Canadian gold explorer reports strong drill results from the Yukon, which in particular show the potential to further expand the known gold mineralization significantly.
Specifically, Sitka is announcing results from drill holes DDRCCC-23-048 through DDRCCC-23-054, holes eight through 14, drilled during the 2023 drill campaign at the Company’s RC Gold Project. Results from two additional drill holes are pending.
The highlight of the drill results reported today was certainly hole 54, which returned 84 meters of 1.21 g/t gold directly from surface! Included was a 4 meter section of 5.12 g/t gold and another interval where Sitka assayed 51 meters of 1.52 g/t gold.
In addition, there were the holes:
DDRCCC-23-048 – 58.1 meters at 0.72 g/t gold, of which, – 21.6 meters at 1.22 g/t gold, 6.2 meters at 2.85 g/t gold
DDRCCC-23-053 – 29.0 meters at 0.68 g/t gold and – 3.9 meters at 4.76 g/t gold
DDRCCC-23-051 – 32.0 meters at 0.59 g/t gold, of which – 6.2 meters at 2.85 g/t gold
DDRCCC-23-049 – 48.0 meters at 0.51 g/t gold, of which – 29.9 meters at 0.73 g/t gold
Potential for substantial new gold deposit
With these results, Sitka has significantly expanded the known gold mineralization of the Blackjack deposit – and with it the potential for a significant amount of additional ounces of the yellow metal. And since the mineralization remains open in all directions, the end of the line is far from being reached here. What’s more, Sitka CEO Corwin Coe also emphasizes that the Saddle Zone’s potential to contain a substantial new deposit is particularly promising!
Because hole 54 was drilled on the western edge of the Saddle Zone and 450 meters east of the boundary of the Blackjack resource. And because the aforementioned 84 meters of 1.21 g/t gold from surface represent the best drill result to date in this area! Also, since only a handful of holes have been drilled in the Saddle Zone to date, it remains open in all directions. Excitingly, the Saddle underground hosts the project’s largest gold-in-soil anomaly, which also boasts the highest gold grades of any such anomaly on the RC Gold project.
Given that such a large geochemical anomaly is found in the Saddle Zone, and that Sitka has so far only drilled on the periphery of this zone, while the strongest part of the anomaly extends 625 meters east of hole 54, the prospects for future expansion of the Saddle Zone into a significant new gold deposit appear “very promising” according to CEO Coe.
Does everything hang together at RC Gold?
However, as Coe continues, hole 54 also demonstrates the exceptional continuity of gold mineralization throughout RC Gold’s intrusion-related gold system. This is because the Saddle Zone remains open 450 meters toward the Blackjack deposit and 1 kilometer east toward the Eiger deposit. To date, there has been virtually no drilling between these zones. Given its location, however, drill hole 54 strengthens the company’s theory that gold mineralization occurring in the 3 kilometer by 5 kilometer Clear Creek intrusive complex could be connected into a large whole with further drilling. Clearly, Sitka is just scratching the surface at RC Gold. Especially in light of the latest results, the potential still appears enormous.
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