VANCOUVER, British Columbia, April 27, 2022 (GLOBE NEWSWIRE) -- Sitka Gold (CSE:SIG) (FSE:1RF) (OTCQB:SITKF) announced assay results from the first diamond drill hole completed during the company’s 2022 winter exploration program at its RC Gold Project in Yukon.
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The RC Gold Project, a contiguous district-scale land package, consists of 376 square kilometre or 92,900 acres, located in the newly road accessible Clear Creek, Big Creek, and Sprague Creek districts in the heart of Yukon's highly prospective Tombstone Gold Belt. It is strategically positioned mid-way between Victoria Gold's Eagle Gold Mine, which is Yukon's newest gold mine having reached commercial production in the summer of 2020, and Sabre Gold Mine'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 winter drilling program focused in the area of the Blackjack Zone which was first intersected by Hole 21. The Blackjack Zone occurs within the Saddle West Zone where the Blackjack Fault obliquely intersects an east-west trending extensional corridor. This corridor is defined by abundant lamprophyre dykes and the gold-in-soil anomaly of greater than 100 parts per billion and greater than 500 parts per billion over an area of 2 kilometres by 500 metres between the Saddle West, Blackjack, Saddle and Eiger Zones.
Four diamond drill holes, 22-022, 23, 24 and 25, were completed during the 2022 winter program for a total of 1,242.8 metres. Approximately 9,000 metres are planned to be drilled during the spring-summer program utilizing two drill rigs to carry out the remainder of a 10,000-metre drill contract.
Hole 22 was collared 100 metres to the southeast of Hole 21 and drilled along the same section at 320 degrees azimuth to test for both lateral and vertical continuity and to further understand the mineralization controls of the Blackjack Fault. Hole 21 previously intersected 220.1 metres of 1.17 g/t gold from surface that included 50.5 metres of 2.08 g/t gold.
In addition to the classic intrusion hosted mineralization consisting of sheeted veins within intrusive host rocks intersected in Hole 21, similar to Victoria Gold's Eagle Gold Mine and Kinross's Fort Knox Gold Mine, Hole 22 has demonstrated that significant mineralization occurs in the surrounding metasedimentary rocks similar to Banyan Gold's AurMac Project.
Hole 22 encountered several intervals of elevated gold values from surface to a depth of 364.6 metres. Gold assay highlights from Hole 22-022 include 273 metres of 0.52 g/t gold from 46 metres to 319 metres including 124.0 metres of 0.81 g/t gold from 193.0 metres, 62.0 metres of 1.21 g/t gold from 253.0 metres, 14.0 metres of 3.85 g/t gold from 253.0 metres, and 2.0 metres of 6.36 g/t gold from 313.0 metres.
The shares are trading at $0.11. For more information about this project and the company’s 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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