VANCOUVER, British Columbia, Sept. 12, 2023 (GLOBE NEWSWIRE) -- Sitka Gold (CSE:SIG) (FSE:1RF) (OTCQB:SITKF) has reported results of 108.0 g/t gold over 1.2 metres from DDRCCC-23-46, the 4th hole completed in the summer of 2023, at its RC Gold Project in Yukon. 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 Tombstone Gold Belt.
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The RC gold project is strategically positioned mid-way between Victoria Gold’s Eagle Gold Mine, Yukon’s newest gold mine, approximately 60 km to the east, and Sabre Gold’s Brewery Creek Gold Mine. It comprises five underlying properties and shares a common border with Victoria Gold's Clear Creek property to the west and Florin Resources' Florin Gold property to the north.
Sitka has completed 14 drill holes totaling approximately 6,000 metres as part of its ongoing 2023 diamond drill program at RC Gold where up to 10,000 metres of drilling is planned. Analytical results for remaining 8 drill holes completed to date will be released once they have been received and compiled.
Drill hole DDRCCC-23-46 was located just outside the eastern margin of the current resource 60 metres east of the nearest previous drill hole DDRCCC-20-002 and drilled to the southeast at an azimuth of 155 degrees and a dip of – 55 degrees. Two lamprophyre dykes, known marker units within the Blackjack deposit that are generally associated with zones of increased gold mineralization, were intersected at 267 metres and 365 metres. Hole 46 intersected significant gold mineralization where multiple occurrences of visible gold were observed, with the thickest interval returning 56.0 metres of 1.23 g/t gold from 134.0 metres.
Cor Coe, CEO, stated: “Drill hole DDRCCC-23-046 has produced our highest grade intercept to date with a remarkable 108.00 grams per tonne gold over 1.2 metres within 4.3 metres of 33.10 grams per tonne gold. Grades of this nature are quite exceptional for a reduced intrusion-related gold system and, along with several other high-grade drill intercepts and outcrop rock samples received to date, appear to indicate that there is a high-grade component to the gold system present at the Clear Creek Intrusive Complex. Hole 46 confirms that persistent gold mineralization continues to the east of the current resource boundary and highlights the potential for mineralization to extend at least 550 metres through to the Saddle Zone where limited previous test drilling has returned some very encouraging numbers, such as 18.8 metres of 1.34 g/t gold.”
The table in the video shows the assay highlights for Hole 46, as well as some of the drill core including the 108.0 g/t gold over 1.2 metres.
Cor Coe, added: “Results from Hole 46 further demonstrate the discovery potential that is still very present around our existing gold deposits and elsewhere within the northern extent of the Clear Creek Intrusive Complex. We eagerly await the many additional analytical results still to come from our ongoing diamond drilling campaign at RC Gold while we continue to grow our current gold resource, potentially identify consistent zones of high-grade mineralization and test additional high-priority targets within the northern extent of the Clear Creek Intrusive Complex.”
In January 2023, the company announced that Blackjack had an inferred pit-constrained gold resource of 900,000 ounces of gold grading 0.83 g/t gold with another 440,000 pit-constrained ounces of gold grading 0.50 g/t gold at the Eiger deposit. Both the Blackjack and Eiger deposits remain open in all directions and form the basis of an NI 43-101 compliant, pit-constrained initial mineral resource estimate of 1,340,000 ounces of gold grading 0.68 g/t gold.
Shifting to Nevada, Sitka is also planning additional drilling at its Alpha Gold Property where a new Carlin-type gold system was recently discovered. The company is focused on vectoring towards the high-grade core of this system, which is located in the Cortez Trend just 40 km southeast of the Cortez Mine Complex of Barrick/Newmont.
The company is well funded with its shares trading at $0.17. For more information about the company’s projects in the Yukon, Arizona, Nunavut, and Nevada, 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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