Sitka Gold Intercepts 108.00 g/t Gold Over 1.2 Metres Within 4.15 g/t Gold Over 38.2 Metres at its RC Gold Project, Yukon
- Highest grade intercept to date with 108.00 g/t Au over 1.2 m
- Indicates high-grade component to gold system at Clear Creek Intrusive Complex
- Gold mineralization extends at least 550 m through to Saddle Zone
- None.
- 56.0 m of 1.23 g/t Au from 134.0 m including:
- 9.7 m of 2.81 g/t Au from 168.0 m and;
- 38.2 m of 4.15 g/t Au from 320.8 m including:
- 4.3 m of 33.10 g/t Au from 326.1 m including:
- 1.2 m of 108.00 g/t Au from 327.8 m.
- 4.3 m of 33.10 g/t Au from 326.1 m including:
"Drill hole DDRCCC-23-046 has produced our highest grade intercept to date with a remarkable 108.00 grams per tonne gold over 1.2 metres within 4.3 metres of 33.10 grams per tonne gold," commented Cor Coe, Director and CEO of Sitka Gold. "Grades of this nature are quite exceptional for a reduced intrusion-related gold system and, along with several other high-grade drill intercepts and outcrop rock samples received to date, appear to indicate that there is a high-grade component to the gold system present at the Clear Creek Intrusive Complex (see Figure 1). Hole 46 confirms that persistent gold mineralization continues to the east of the current resource boundary and highlights the potential for mineralization to extend at least 550 metres through to the Saddle Zone where limited previous test drilling has returned some very encouraging numbers, such as 18.8 metres of 1.34 g/t gold. Results from Hole 46 further demonstrate the discovery potential that is still very present around our existing gold deposits and elsewhere within the northern extent of the Clear Creek Intrusive Complex. We eagerly await the many additional analytical results still to come from our ongoing diamond drilling campaign at RC Gold while we continue to grow our current gold resource, potentially identify consistent zones of high-grade mineralization and test additional high-priority targets within the northern extent of the Clear Creek Intrusive Complex."
Drill hole DDRCCC-23-046 was located just outside the eastern margin of the current resource 60 metres east of the nearest previous drill hole DDRCCC-20-002 and drilled to the southeast at an azimuth of 155 degrees and a dip of – 55 degrees (Figure 2). The hole consisted dominantly of metasediments locally intruded by metre scale dykes of megacrystic quartz monzonite (MQZM). Two lamprophyre dykes, known marker units within the Blackjack deposit that are generally associated with zones of increased gold mineralization, were intersected at 267 m and 365 m. Quartz veins +/- arsenopyrite occurred throughout all units, with increasing concentrations generally associated with the intrusive dykes and quartzite and psammite phases of the meta intrusive.
DDRCCC-23-046 intersected significant gold mineralization where multiple occurrences of visible gold were observed (Figure 4), with the thickest interval returning 56.0 m of 1.23 g/t Au from 134.0 m on (Figure 3). The hole also intersected the highest gold grade returned from drilling on the property to date, with 4.3 m of 33.10 g/t Au from 326.1 m including 1.2 m of 108.00 g/t Au. Gold mineralization is associated with quartz sulphide veins that occur both within the metasedimentary rocks and the MQZM dykes, with higher grade multi gram gold values more commonly occurring with the MQZM.
HoleID | Azimuth (°) | Dip (°) | From | To (m) | Length | Au (g/t) |
DDRCCC-23-046 | 155 | -55 | 134.0 | 190.0 | 56.0 | 1.23 |
including | 141.2 | 147.4 | 6.2 | 2.50 | ||
including | 168.0 | 177.6 | 9.6 | 2.81 | ||
and | 320.8 | 359.0 | 38.2 | 4.15 | ||
including | 326.1 | 330.5 | 4.4 | 33.10 | ||
including | 327.8 | 329.0 | 1.2 | 108.00 |
*Intervals are drilled core length, as insufficient drilling has been completed at this time to determine true widths |
The Company has completed 14 drill holes totaling 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 8 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:
COG g/t | 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
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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.
