Vancouver, British Columbia, May 19, 2022 (Globe Newswire) – Sitka Gold (CSE: SIG) (FSE: 1RF) (OTCQB: SITKF) company announces high-grade gold barrier from third diamond drill hole completed during winter exploration in 2022 Has programmed in Yukon’s RC Gold project. The RC Gold Project, an adjacent district-scale land package, covering 376 sq km or 92,900 acres, is located in the new road accessible Clear Creek, Big Creek and Sprague Creek districts in the heart of Yukon’s highly potential Tombstone Gold Belt.
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It is strategically located in the middle of Victoria Gold’s Eagle Gold Mine, the Yukon’s new gold mine that reached commercial production in the summer of 2020, and the Saber Gold Mine’s Brewery Creek Gold Mine.
The RC Gold Project Land Package has five built-in properties, namely, RC, B Bop, Mahtin, Clear Creek and Barney Ridge properties.
The winter drilling program focuses on the area of the Blackjack Zone that was first intersected by Hole 21. The blackjack zone occurs in the saddle west zone where the blackjack fault intersects the east-west inclined corridor. The corridor is defined by the abundance of lampprofire dykes and more than 100 parts per billion and more than 500 parts per billion gold soils over an area of 2 km by 500 meters between the Saddle West, Blackjack, Saddle and Eiger zones. .
During the 2022 winter program, four diamond drill holes were completed, 22, 23, 24 and 25, for a total of 1,243 meters. Hole 24K was collared from the same setup as Holes 21 and 23 but was drilled to a depth of 204 m to the west. The hole remains in the multipurpose penetrating rock associated with the most consistent mineralization at a depth of 52.4 m in the Blackjack zone where it has crossed the Blackjack fault. Below the error, a mixed sequence of well-mineralized metasedimentary country rock and multiphase intrusive seals was encountered at a depth of 114.6 m before being poorly mineralized metasedimentary country rock. Visible gold was also seen across the drill holes.
Cor Coe, P.Geo., CEO, says: “The results of our winter drill program continue to provide Hole 24 with exceptional access that adds mounting evidence that our newly discovered Blackjack Zone can host a multi-million ounce, economically viable gold deposit. About 1.5 grams of gold per ton has been drilled more than 100 meters from the surface, including 2 meters per ton of gold, Hole 24 has confirmed that gold-rich mining in the region has expanded at least 100 meters west of our initial level. Discovery hole (hole 21) and remains open. In addition, we have now confirmed that the gold mineralization has also extended 100 m to the south and it is uninterrupted along the vertical part (depth) from hole 23 to hole 22. Hole 25 which was drilled about 80 m before Hole 21. Our plan is to continue drilling as we work towards further expansion of this gold mineralization along the strikes defined east and west while creating tonnage for first resource estimates.“
The stock is trading at 0.135. For more information on this project and the company’s other projects in Yukon, Arizona, Nevada and Nunavu, please visit the company’s website. www.SitkaGoldCorp.comContact Donald Penner, President, at 778-212-1950 or by email [email protected]Or at Cor Coe, CEO, 604-817-4753, or email [email protected].
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