Diamond drilling currently underway south of the Blackjack gold deposit at the district-scale, road accessible RC Gold Project (Source: Sitka Gold Corp.)
  • Mineral exploration company Sitka Gold (TSXV:SIG) has recommenced its diamond drilling program at its RC Gold Project in Yukon Territory
  • The Vancouver-based miner completed two diamond drill holes during the winter portion of this year’s drilling program to test the continuity of higher-grade gold mineralization south of the Blackjack gold deposit
  • A total of 1,085 metres was drilled during the winter program with visible gold observed in both drill holes
  • Sitka Gold Corp. (TSXV:SIG) opened trading at $0.18 per share

Mineral exploration company Sitka Gold (TSXV:SIG) has recommenced its diamond drilling program at its RC Gold Project in Yukon Territory.

Located in the prolific Tombstone Gold Belt, the Vancouver-based miner completed two diamond drill holes during the winter portion of this year’s drilling program to test the continuity of higher-grade gold mineralization south of the Blackjack gold deposit.

The RC Gold Project consists of a 386-square-kilometre contiguous district-scale land package. The project is around 100 km east of Dawson City. Exploration on the property has mainly focused on identifying an intrusion-related gold system.

A total of 1,085 metres was drilled during the winter program with visible gold observed in both drill holes.

Plan map of the Northern extent of the Clear Creek Intrusive Complex where several drill intervals and surface samples have demonstrated the high-grade nature of the Reduced Intrusion Related Gold System present. The projection of the Blackjack fault and Blackjack mineralized corridor are highlighted along with the priority targets in this area for 2024. Yellow stars indicate where outcrop rock samples or drill hole intervals have returned >10 g/t gold. Several additional targets with the potential to host intrusion-related gold deposits of significant size and grade have yet to be drilled within this approximately 3-km-by-5-km area. The Saddle Zone priority target area (between the Blackjack and Eiger gold deposits) remains largely untested by drilling and contains the largest and strongest gold-in-soil anomaly on the property. (Source: Sitka Gold Corp.)

Assay results returned 191.0 metres grading 1.16 grams per ton (g/t) gold including 11.0 metres of 5.80 g/t gold within 89.0 metres of 2.03 g/t gold in DDRCCC-24-057 aka Hole 57.

Results also saw 154.0 metres of 1.47 g/t gold including 37.0 metres of 3.07 g/t gold and 8.0 metres of 4.61 g/t gold.

“Drilling currently underway is focused on continuing to expand the Blackjack deposit following up on the higher-grade gold mineralization discovered during the winter diamond drilling program outside of the current resource,” Cor Coe, CEO of Sitka Gold, said in a statement. “Our updated geological model suggests this higher-grade gold zone continues south and we plan to investigate that possibility this summer along with follow-up on several other high-priority targets as we push to expand our rapidly growing gold resource and make additional discoveries across our 100-per-cent-owned, district-scale RC Gold Project.”

Last year’s drilling produced results of up to 219 metres of 1.34 g/t gold, including 124.8 metres of 2.01 g/t gold and 55 metres of 3.11 g/t gold.

While the team continues to extend the Blackjack gold mineralization to the southeast, the 2024 exploration season includes further drilling of the Saddle East zone, which saw 84 metres of 1.21 g/t gold drilled last year.

Plan map showing current proposed 2024 diamond drilling and the projection of the recently identified Blackjack Mineralized Corridor and the Blackjack Fault which remain open to the south of the Blackjack gold deposit. This fault appears to be an important structural control for the intrusion-related gold mineralization being discovered at the Blackjack deposit area and remains wide open to the north and south of the current extent of drilling. (Source: Sitka Gold Corp.)

Further drilling of the Eiger Deposit (which has an inferred Resource of 440,000 oz gold published in 2023) remains on the docket, along with further drilling of the Josephine Stock (visible gold discovered at surface in 2023), as well as further investigation of the nine known intrusions with associated gold mineralization that have been discovered to date.

Sitka Gold is focused on mineral deposits with an emphasis on gold, silver and copper mineral properties.

Shares of Sitka Gold Corp. (TSXV:SIG) opened trading at $0.18 and have risen 71.42 per cent since this time last year.

Join the discussion: Find out what everybody’s saying about this stock on the Sitka Gold Corp. Bullboard investor discussion forum, and check out the rest of Stockhouse’s stock forums and message boards.

The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.

(Top image: Sitka Gold Corp.)


More From The Market Online
AI-generated image of gold bars beside a computer with a financial chart.

The Market Online’s Weekly Gold Report – July 24, 2024

The Market Online reviews the week's top gold stories, gold prices, gold company news and trending gold stocks.
Periodic table concept with uranium element is glowing among black cubes

Fueling the Future: Uranium market activity for the week of July 22

In this week's uranium market update, companies such as Centrus Energy, Aero Energy, Myriad Uranium and SKRR Exploration made headlines.
Bank of Canada Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers

Bank of Canada cuts interest rate: 4 investment catalysts to consider

The Bank of Canada cut rates for a second meeting in a row thanks to favourable inflation, unemployment and consumer spending trends.