VANCOUVER, British Columbia, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Sitka Gold (CSE:SIG) (FSE:1RF) (OTCQB:SITKF) reported that recent geological mapping and prospecting at its RC Gold Project in the Yukon Territory identified visible gold at surface. 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.
A Media Snippet accompanying this announcement is available by clicking on the image or link below:
For more information, please view the InvestmentPitch Media video about this news and the company along with comments from Mike Burke, B.Sc., P.Geo., Director and VP Corporate Development. The video is available for viewing on “InvestmentPitch” and on “YouTube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “Sitka” in the search box.
It is strategically positioned approximately 60 km from Victoria Gold’s producing Eagle Gold Mine. The RC Gold Project land package, which comprises five underlying properties, shares a common border with Victoria Gold's Clear Creek property to the west and Florin Resources' Florin Gold property to the north.
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.
The company is currently conducting up to 10,000 metres of diamond drilling, primarily focused on expanding the initial gold mineral resource estimate. So far this year, 12 drill holes and approximately 5,300 metres of drilling have been completed. Additional exploration based on the interpretation of new and historical geological, geophysical and geochemical datasets has resulted in the identification of new areas of gold mineralization. Initial fieldwork consisting of detailed geological mapping has focused on the northern portion of the Clear Creek Intrusive Complex which contains several intrusions emplaced within a broad extensional tectonic setting.
Cor Coe, CEO, stated: "The discovery of visible gold in outcrop on surface at the Josephine Zone is very exciting and provides additional support that the Clear Creek Intrusive Complex, encompassing the 5 km extensional mineralized corridor that spans across both the Blackjack and Eiger deposits, has the potential to host additional gold deposits of significant size and grade. The recent interpretation of the high resolution MAG survey we conducted last year, along with the compilation of historical geochemical surveys across the area, highlighted several new targets throughout the Clear Creek Intrusive Complex that we have only just begun to follow up on. Based on the geophysics and geochem completed to date, the Josephine Zone itself appears to have the size and scale required to host large intrusion-related gold deposits and the discovery of native gold on surface during a first pass reconnaissance there bodes well for future exploration success. It is still early days at our RC Gold Project and with the abundance of additional high-priority intrusion-related gold targets present across this district-scale project we believe there is great potential for further discoveries to be made."
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 newly discovered system, which is located in the Cortez Trend just 40 km southeast of the Cortez Mine Complex of Barrick/Newmont with plans for a 2023 drilling program currently underway.
The company is well funded with its shares trading at $0.11. For more information about this project and the company’s other 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.
About InvestmentPitch Media
InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company’s story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.
Disclaimer
The information in this InvestmentPitch Media Ltd video is for the viewers information only. Sitka Gold has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by InvestmentPitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. InvestmentPitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.
CONTACT:
InvestmentPitch Media
Barry Morgan, CFO
bmorgan@investmentpitch.com
