VANCOUVER, British Columbia, Jan. 13, 2023 (GLOBE NEWSWIRE) -- Sitka Gold (CSE:SIG) (FSE:1RF) (OTCQB:SITKF) ) released assays for the final two diamond drill holes of the 2022 drilling program at its RC Gold Project. The RC Gold Project, a contiguous district-scale land package, consists of 376 square kilometres 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.
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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. It has a common border with Victoria Gold's Clear Creek property to the west and Florin Resources' Florin Gold property to the north.
Sitka recently identified a large 500 m by 2000 m intrusion related gold system, open in all directions, between the Blackjack, Saddle and Eiger zones and to date has drilled 38 diamond drill holes into this system for a total of approximately 13,000 metres.
This has been the main focus of the drill programs at RC Gold in 2020, 2021 and 2022 which returned several significant gold intercepts. including the discovery hole in the Blackjack zone in the last drill hole from the 2021 drill program. DDRCCC-21-021 intersected 220.1 m of 1.17 g/t gold from surface that included 50.5 m of 2.08 g/t gold. Drilling in 2021 in the Eiger Zone, in the easternmost area of the gold-in-soil anomaly, produced numerous significant intersections as demonstrated by Hole 9 which intersected 354 m of 0.41 g/t Au including 72 m of 0.72 g/t Au.
The current results are from holes DDRCCC-22-039 and 40. Drillhole DDRCCC-22-039 collared into metasedimentary country rock to the northeast of the main Saddle intrusive host rock at the Blackjack zone. The hole intersected a thick sequence of metasediments interspersed with intrusive dikes and sills to a depth of 279 metres before crossing into the main Saddle intrusive. Sporadic gold mineralization associated with sheeted-style quartz veining was encountered throughout the hole to a depth of 480 metres with the best zones developed within the intrusive host rocks.
Drillhole DDRCCC-22-040, drilled on section between holes DDRCCC-22-036 to the northwest and DDRCCC-21-021 to the southeast, collared and remained in the main multiphase-intrusive host rock at the Blackjack zone for its entire length to a depth of 209 metres. It was one of the best holes drilled to date at RC Gold, with the entire 201.0 metre length averaging 1.26 g/t gold, including 82.0 metres grading 2.04 g/t gold and 19.5 m of 4.87 g/t Au.
The company is planning a two-part, winter and summer drilling program totaling 10,000 metres of diamond drilling at RC Gold for 2023 focused primarily in the Blackjack, Saddle and Eiger zone areas.
Shifting to Nevada, Sitka Gold holds a 100% interest in the 4,780-acre Alpha Gold Project, located along the southeast projection of the prolific Cortez Gold Trend in Eureka County, approximately 135 kilometres southwest of Elko.
Results from the final two drill holes, where a new Carlin-type gold system was recently discovered, are expected shortly.
The company is well funded with the shares trading at $0.145. 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.
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