Sitka Gold Drills 219.0 Metres of 1.34 g/t Gold Including 124.8 Metres of 2.01 g/t Gold and 55.0 Metres of 3.11 g/t Gold at its RC Gold Project, Yukon
- Best gold intercepts drilled to date at RC Gold Project
- Significant extension of known gold mineralization
- None.
DDRCCC-23-047 Highlights:
- 219.0 m of 1.34 g/t Au from 190.0 m including:
- 124.8 m of 2.01 g/t Au from 233.0 m including;
- 55.0 m of 3.11 g/t Au from 276.0 m including:
- 14.0 m of 5.53 g/t Au from 311.0 m
"Hole 47 is our best drill hole to date, returning 219 meters of 1.34 g/t gold including very significant sub-intervals such as 124.8 metres of 2.01 g/t gold and 14.0 meters of 5.53 g/t gold," commented Cor Coe, Director and CEO of Sitka, "What is particularly noteworthy is that, while Hole 47 is the best hole drilled to date when looking at interval length and grade, its location is in a wide open area at the southern extent of the Blackjack zone, whereas the previous reported Hole 46 was drilled 405 m to the northeast and returned the highest grade interval ever drilled in the Clear Creek Intrusive Complex (1.2 m of 108.00 g/t gold; see news release dated September 11, 2023 and Figure 2). Both of these drill holes are wide open step outs from the maiden resource at the Blackjack deposit investigating the gold mineralization within the metasediments and the intrusive rocks, and underscore that this deposit and the Clear Creek Intrusive Complex area are just beginning to reveal the true potential they have to develop significant ounces. We are very pleased to see the persistent gold mineralization being exhibited within the quartz arsenopyrite veining in the metasediments, in addition to the intrusive units, and believe that this will ultimately contribute to a very large gold endowment within the cluster of intrusive rocks and surrounding metasediments that make up the Clear Creek Intrusive Complex."
DDRCCC-23-047 intersected the longest sections of multi-gram gold mineralization seen in drilling to date on the RC property. Gold mineralization occurred in quartz and quartz – arsenopyrite veins within both the metasediments and the megacrystic quartz monzonite (MQZM) units. Analytical results demonstrate that localized high grade gold values in quartz arsenopyrite veins often occur in the metasediments, such as 2.0 m of 10.5 g/t Au from 249.0 m, while longer more consistently mineralized intervals generally occur in quartz and quartz-arsenopyrite veinlets in the MQZM, such as 55.0 m of 3.11 g/t Au 276.0 m. In the latter 55.0 m interval, only one 1.9 m sample (from 284.0 to 285.9 m) returned an assay less than 1.00 g/t Au, while the highest assay in the interval was 2.0 m of 7.70 g/t Au (from 321.0 to 323.0 m).
DDRCCC-23-047 was located at the south margin of the current Black Jack resource, approximately 60 m southeast of the most southerly holes drilled in the area to date (RCCC23-044 and 045) and drilled to the northeast at an azimuth of 040 degrees and a dip of -55 degrees. The hole intersected metasediments intruded by metre scale granodiorite and MQZM to 75 m; MQMZ and granodiorite until 131 metres; dominantly metasediments to 224 metres; and MQZM to 371 m and then metasediments to the end of the hole at 422.15 metres. Quartz arsenopyrite veins and massive arsenopyrite veinlets occurred throughout the hole, with the most intense development of the veins occurring with the MQZM unit from 224 to 371 metres. Visible gold was noted in a quartz sulphide vein within the MQZM at 280 metres (Figure 4). Significant mineralized intervals are summarized below in Table 1 and examples of drill core intervals are displayed in Figure 5.
Table 1 – Assay Highlights for DDRCCC-23-047
HoleID | Azimuth (°) | Dip (°) | From | To (m) | Length | Au (g/t) |
DDRCCC-23-047 | 040 | -55 | 190.0 | 409.0 | 219.0 | 1.34 |
including | 223.7 | 409.0 | 185.3 | 1.50 | ||
including | 223.7 | 359.0 | 135.3 | 1.89 | ||
including | 233.0 | 357.8 | 124.8 | 2.01 | ||
including | 237.0 | 259.6 | 22.6 | 2.13 | ||
including | 249.0 | 259.6 | 10.6 | 3.49 | ||
including | 249.0 | 251.0 | 2.0 | 10.50 | ||
and | 276.0 | 331.0 | 55.0 | 3.11 | ||
including | 302.0 | 329.4 | 27.4 | 4.24 | ||
including | 311.0 | 325.0 | 14.0 | 5.53 |
*Intervals are drilled core length, as insufficient drilling has been completed at this time to determine true widths |
The Company has completed 16 drill holes totaling approximately 6515 metres as part of its 2023 diamond drill program at RC Gold. Analytical results for the 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:
RC Gold Inferred Mineral Resource Estimate
COG g/t Au | Blackjack Zone | Eiger Zone | Combined | ||||||||
Tonnes | Au g/t | 0z Au 000's | 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-21-009; 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. |
(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/ |
About Sitka Gold Corp.
Sitka Gold Corp. is a well-funded 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:
- 121 Mining Investment;
New York : October 23 - 24, 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
This news release contains forward-looking statements and forward looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. Forward-looking statements and information are often, but not always, identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions.
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