SITKA BEGINS MAIDEN DRILLING ON THE JOSEPHINE INTRUSION GOLD TARGET AT ITS RC GOLD PROJECT, YUKON
Josephine Surface Exploration Highlights:
- Target A
- Sheeted veins in altered metasedimentary rocks adjacent to intrusion returned values of 1.88 and 1.34 g/t gold
- Visible gold in outcrop
- Target B
- Sheeted veins in intrusive returned values of 5.45, 3.47 and 1.31 g/t gold
"We are excited to be conducting the first ever diamond drilling of the Josephine intrusion, one of the six intrusions located in the Clear Creek Intrusive Complex (See Figure 1). The discovery of visible gold this summer in the altered rocks adjacent to the intrusion during geological mapping and subsequent prospecting, which identified gold-bearing sheeted veins both within the intrusion and in the adjacent altered rocks, highlights the potential of the Josephine intrusion. The intrusion is not well exposed at surface so we look forward to getting an initial look using the drill bit at the potential of the Josephine to be the third intrusion on the project to host a gold deposit", commented Cor Coe, Director and CEO of Sitka Gold.
Results have been received for 30 of 86 surface rock samples from the Josephine target, with gold values ranging from 0.003 g/t to 5.45 g/t gold. Seven of the rock samples returned results greater than 1.0 g/t Au and 13 returned values greater than 0.10 g/t Au.
Two drill holes are planned to test two targets located approximately 500 metres apart along the southern margin of the Josephine intrusion (See Figure 2). A second diamond drill rig has been mobilized to the RC Gold Project to enable drill testing of these targets.
Target A is the area where geological mapping and prospecting discovered visible gold at surface. Prospecting has identified altered and mineralized metasedimentary rocks that extend approximately 500 m south of the intrusion. This initial drill hole will test the most intensely altered rocks which cover approximately 220 m and contain abundant sheeted veining containing arsenopyrite-pyrite and rare bismuthinite mineralization. The drill hole is also planned to intersect the unexposed intrusive contact at depth (See Figure 3).
Target B is located approximately 500 m northwest of Target A where an exposure of the Josephine intrusion and adjacent altered metasedimentary rocks was discovered in a creek bottom. Both the intrusion and altered metasedimentary rocks were well mineralized with sheeted veins containing arsenopyrite-pyrite +/- bismuthinite. This initial drill hole will test the Josephine intrusion along its southern contact (See Figure 4).
The Company has completed 14 drill holes totalling approximately 6,000 metres as part of its ongoing 2023 diamond drill program at RC Gold where up to 10,000 metres of drilling is planned. Analytical results for remaining 9 drill holes completed to date will be released once they have been received and compiled.
The RC Gold Project (RC Gold) consists of a 376 square kilometre contiguous district-scale land package located in the newly road accessible
On January 19, 2023 Sitka Gold announced an Initial Mineral Resource Estimate prepared in accordance with National Instrument 43-101 ("NI 43-101") guidelines for the RC Gold Property of 1,340,000 ounces of gold(1). The road accessible, pit constrained Mineral Resource is classified as inferred and is contained in two near/on-surface zones: The Blackjack and Eiger deposits. The Mineral Resource estimate is presented in the following table at a base case cut-off grade of 0.25 g/t Au:
Table 2: RC Gold Inferred Mineral Resource Estimate
COG g/t Au | Blackjack Zone | Eiger Zone | Combined | ||||||||
Tonnes | Au g/t | 0z Au | Tonnes | Au g/t | 0z Au | Tonnes | Au g/t | 0z Au | |||
0.20 | 35,798 | 0.80 | 921 | 32,523 | 0.45 | 471 | 68,321 | 0.63 | 1,391 | ||
0.25 | 33,743 | 0.83 | 900 | 27,362 | 0.50 | 440 | 61,105 | 0.68 | 1,340 | ||
0.30 | 31,282 | 0.88 | 885 | 22,253 | 0.55 | 393 | 53,535 | 0.74 | 1,279 | ||
0.35 | 29,065 | 0.92 | 860 | 17,817 | 0.60 | 344 | 46,882 | 0.80 | 1,203 | ||
0.40 | 26,975 | 0.96 | 833 | 14,506 | 0.66 | 308 | 41,481 | 0.86 | 1,140 | ||
Notes | |
1. | Mineral resource estimate prepared by Ronald G. |
2. | The cut-off grade of 0.25 g/t Au is believed to provide a reasonable margin over operating and sustaining costs for open-pit mining and processing |
3. | Mineral resources are constrained by an optimised pit shell using the following assumptions: |
4. | Mineral resources are not mineral reserves and do not have demonstrated economic viability. |
5. | Totals may not sum due to rounding. |
The Initial Mineral Resource Estimate of 1,340,000 ounces of gold at the RC Gold Project is comprised of two deposits: the Blackjack deposit containing 900,000 ounces of gold at a grade of 0.83 g/t gold and the Eiger deposit containing 440,000 ounces of gold at a grade of 0.50 g/t gold (see news release dated January 19, 2023). Both of these deposits are at/near surface, are potentially open pit minable and amenable to heap leaching, with initial bottle roll tests indicating that the gold is not refractory and has high gold recoveries of up to
The Blackjack and Eiger deposits are in close proximity to highway and power infrastructure, are road accessible year-round, remain open in all directions and are located within the Clear Creek Intrusive Complex. The deposits are located with a large, 500 metre by 5 kilometre intrusion related gold system that was recently discovered on the Property. To date, 52 diamond drill holes have been drilled into this system for a total of approximately 18,275 metres with results of up to 201.0 m of 1.26 g/t gold from surface, including 82.0 m of 2.04 g/t gold and 19.5 m of 4.87 g/t gold at Blackjack (drill hole DDRCCC-22-040; see news release dated January 11, 2023) and 72 m of 0.72 g/t gold at Eiger (drill hole DDRCCC-21-09; see news release date August 19, 2021).
Several high priority intrusion related gold targets exist at RC Gold with nine outcropped intrusions identified to date over the 376 sq km property, however Sitka's main focus at the RC Gold Project has been on the underlying Clear Creek Property where a large 500 metre by 2000 metre corridor hosting an intrusion related gold system covering the area over the Blackjack, Saddle and Eiger zones was identified. Additional surface work has extended the gold corridor an additional 3000 metres east and now encompasses the Josephine intrusion. Prior to the onset of the 2023 winter drilling program, the Company had drilled 38 diamond drill holes into this system for a total of approximately 13,000 metres. This drilling culminated in the discovery of the Blackjack and Eiger deposits with an initial inferred mineral resource estimate of 1,340,000 gold ounces(1).
Sitka Gold inherited a wealth of historical and current data from these properties from work spanning the last 40 years. Recent exploration work and the compilation of historical data have defined several mineralized zones with both bulk tonnage, intrusion-related gold deposit targets and high-grade, vein- and breccia-hosted gold targets. The RC Gold Project also has a common border with Victoria Gold's
(1) |
*For more detailed information on the underlying properties please visit our website at www.sitkagoldcorp.com.
Exploration on the Property has mainly focused on identifying an intrusion-related gold system ("IRGS"). The property is part of the Tombstone Gold Belt which is the prominent host to IRGS deposits within the Tintina Gold Province in
(1) | Sims J. Fort Knox Mine Fairbanks North Star Borough, Alaska, USA National Instrument 43-101 Technical Report. June 11, 2018. https://s2.q4cdn.com/496390694/files/doc_downloads/2018/Fort-Knox-June-2018-Technical-Report.pdf |
(2) | Harvey N., Gray P., Winterton J., Jutras M., Levy M.,Technical Report for the Eagle Gold Mine, |
(3) | Hulse D, Emanuel C, Cook C. NI43-101 Technical Report on Mineral Resources. Gustavson Associates. May 31, 2020. |
(4) | Simpson R. Florin Gold Project NI43-101 Technical Report. Geosim Services Inc. April 21, 2021. https://sedar.com/GetFile.do?lang=EN&docClass=24&issuerNo=00005795&issuerType=03&projectNo=03236138&docI d=4984158 |
(5) | Banyan Gold News Release Dated May 24,, 2023 (Technical Report to be filed within 45 days of news release) https://banyangold.com/news-releases/2023/banyan-announces-6.2-million-ounce-gold-resource-estimate-for-the-aurmac-property-yukon-canada/ |
Sitka Gold Corp. is a mineral exploration company headquartered in
The Company recently announced an NI 43-101 compliant Initial Mineral Resource Estimate of 1,340,000 ounces of gold(1) beginning at surface and grading 0.68 g/t at its RC Gold Project in
The Company is also planning additional drilling at its Alpha Gold Property in
(1) |
Sitka Gold will be attending and/or presenting at the following events:
- Precious Metals Summit,
Beaver Creek, Colorado : September 12 - 15, 2023 - Yukon Geoscience Forum,
Whitehorse, Yukon : November 19 - 22, 2023
All events are subject to change.
The scientific and technical content of this news release has been reviewed and approved by Cor Coe, P.Geo., Director and CEO of the Company, and a Qualified Person (QP) as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SITKA GOLD CORP.
"Donald Penner"
President and Director
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SOURCE Sitka Gold Corp.
