Sitka Gold Corp. (CSE: SIG) (FSE: 1RF) (OTCQB: SITKF) has announced significant assay results from its RC Gold Project in Yukon’s Tombstone Gold Belt.
The results were announced on Wednesday and come from the third diamond drill hole of the 2023 winter drill program, which is part of a resource expansion drilling program currently underway at RC Gold.
The drill hole, known as DDRCCC-23-043 or Hole 43, revealed 422.7 metres of 0.74 g/t gold, including 111.7 metres of 1.24 g/t gold. The hole was designed to fill in an area of the deposit model that was missing drill core data and to test for mineralization at depth.
“The results obtained from Hole 43 are quite remarkable and further illustrate just how consistent and well-endowed the gold mineralization is at our Blackjack deposit,” Sitka CEO Cor Coe said.
“Gold mineralization was encountered at surface and continued for the entire 422.7-metre length of this drill hole, which averaged 0.74 g/t gold and had multiple occurrences of visible gold.”
The RC Gold Project is located approximately 100 kilometres east of Dawson City and is road accessible. An initial mineral resource estimate of 1.3 million ounces of gold beginning at surface and grading 0.68 g/t was announced earlier this year.
Assay highlights from DDRCCC-23-043 include:
422.7 metres (m) of 0.74 g/t Au from 4.0 meters (m) to 426.7 meters (end of hole) including:
28.0 m of 0.91 g/t Au from 4.0 m
40.0 m of 1.02 g/t Au from 81.0 m,
111.7 m of 1.24 g/t Au from 315.0 m,
14.0 m of 3.28 g/t Au from 345.0 m,
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The company is currently working on extending the drill hole at depth and plans to focus on expanding both the Blackjack and Eiger gold deposits during the 2023 summer field season. The deposits remain wide open and additional exploration drilling will be conducted to test for continuity across the mineralized corridor.
Sitka Gold is focused on exploring economically viable mineral deposits, with an emphasis on gold, silver and copper mineral properties of merit. The company recently announced an NI 43-101 compliant initial mineral resource estimate of 1.3 million ounces of gold at its RC Gold Project in Yukon.
Other mining companies operating in the region include Victoria Gold Corp. (TSX: VGCX), Triumph Gold (TSX-V: TIG), White Gold Corp. (TSX-V: WGO), Strategic Metals Ltd (TSX-V: SMD), Banyan Gold Corp. (TSX-V: BYN) (OTCQB: BYAGF), Fireweed Metals Corp. (TSX-V: FWZ) and Strikepoint Gold Inc. (TSX-V: SKP) (OTCQB: STKSF).
Map via Sitka Gold.
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The Yukon’s Tombstone Gold Belt is a highly sought-after region for mining due to its rich gold deposits and favourable geological features.
The belt is known for its intrusion-related gold systems, which are large, low-grade, bulk-tonnage gold deposits. The region boasts well-established infrastructure, including road accessibility and proximity to Dawson City, facilitating mining operations.
The area has seen successful mining ventures such as Victoria Gold’s Eagle Gold Mine, indicating its potential profitability. Additionally, Yukon’s mining-friendly regulatory environment and the belt’s significant unexplored potential make it an attractive prospect for mining companies.
