Vancouver, British Columbia--(Newsfile Corp. - January 21, 2022) - Sitka Gold (CSE: SIG) (FSE: 1RF) (OTCQB: SITKF) has released final assay results from 5 diamond drill holes from the its 2021 summer exploration program at its RC Gold Project in Yukon, Canada. The RC Gold Project consists of a 376 square kilometre contiguous district-scale land package located in the newly road accessible Clear Creek, Big Creek, and Sprague Creek districts in the heart of Yukon's Tintina Gold Belt and of the Tombstone Gold Belt.
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It is the largest consolidated land package strategically positioned mid-way between Victoria Gold's Eagle Gold Mine, Yukon's newest gold mine which reached commercial production in the summer of 2020, and Golden Predator's Brewery Creek Gold Mine.
The RC Gold Project land package comprises five underlying properties, namely, the RC, Bee Bop, Mahtin, Clear Creek, and Barney Ridge properties. The RC Gold Project also has a common border with Victoria Gold's Clear Creek property at its western boundary and Florin Resources' Florin Gold property at its northern boundary. 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 company completed a 15-hole, 5,000 metre diamond drill program on the Saddle-Eiger zone at the RC Gold Project during the 2021 exploration season, with all results now received. Holes 16 and 17 were drilled at the Eiger zone with Holes 18, 19 and 20 drilled at the Saddle Ridge zone. These 3 holes were approximately 750 metres east of the Saddle West zone, where in December, Hole 21 reported 220.1 metres of 1.17 g/t gold from surface.
Mobilization for a 2022 winter diamond drill program at the Project is currently underway with drilling expected to start later this month to follow up on the results from Hole 21.
Drill hole 16 was drilled 100 metres above Hole 12 which in September reported an intercept of 419.0 metres of 0.67 g/t gold, and 200 metres above Hole 13 which in October reported an intercept of 213.0 metres of 0.45 g/t gold. Significant sheeted quartz-vein style mineralization was encountered from the top of the hole at 3.0 metres to 161.0 metres downhole for a 158.0 metre interval grading 0.33 g/t gold after which the density of veining was more sporadic. Hole 19 returned a weighted average interval of 80.0 metres grading 0.59 g/t gold, including an occurrence of visible gold in an interval grading 39.2 g/t gold over 0.3 metres.
For more details, please refer to the company's news release.
Cor Coe, P.Geo., CEO, stated: "We are very pleased with the results from our 2021 exploration program at the RC Gold Project. Drilling has continued to demonstrate that there is significant gold enrichment in this system along a wide, 2,000 metre long structural corridor of sheeted veining stretching from the Saddle West zone through the Saddle Ridge zone and on to the Eiger zone. Visible gold was also observed in DDRCCC-21-019 which coincided with a 0.3 metre intercept that returned over 1 ounce per tonne of gold and reflects what we believe to be a continuation of the high-grade gold corridor recently discovered in Hole 21 located over 700 metres away at the Saddle West zone. Our understanding of the geologic controls to mineralization within this system has grown tremendously this past field season and we are very excited about the opportunity to apply that knowledge to our upcoming drill programs planned for this winter and the summer field season. Our focus this winter will be on following up at the Saddle West zone and on the results from Hole 21."
The shares are trading at $0.135. For more information about the company and its other projects in the Yukon, Arizona, Nevada, and Nunavut, please visit the company's website at www.SitkaGoldCorp.com, contact Donald Penner, President, at 778-212-1950 or by email at dpenner@SitkaGoldCorp.com, or Cor Coe, CEO, at 604-817-4753, or email ccoe@SitkaGoldCorp.com.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/111089