VANCOUVER, British Columbia, Aug. 18, 2023 (GLOBE NEWSWIRE) — Sitka Gold (CSE:SIG) (FSE:1RF) (OTCQB:SITKF) has encountered widespread mineralization, including visible gold, in large step-out drilling at its road accessible RC Gold Project located in Yukon’s Tombstone Gold Belt. 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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It 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. 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.
Mineralization, including visible gold in DDRCCC-23-053, has been encountered approximately 450 metres east, 300 metres north and 130 metres south of the margins of the existing gold resource outlined at the Blackjack gold deposit. Visible gold was identified in two locations in quartz sulphide veins in the metasediments. DDRCCC-23-053, located 450 metres east of the eastern margin of the current Blackjack resource, is approximately 200 metres west of drill holes DDRCCC-20-001 and DDRCCC-21-019 which intersected 84.8 metres of 0.52 g/t gold and 80.0 metres of 0.59 g/t gold respectively.
Step-out drilling to test the northern extension of the Saddle intrusion intersected sheeted quartz-arsenopyrite veining up to 300 metres from the northern extent of the current Blackjack resource. Historic surface sampling here has returned up to 4.54 g/t gold.
DDHRCCC23-048 was drilled to test a portion of the southern extent of the Saddle intrusion which has been mapped at surface for an additional 500 metres south of the southern margin of the current Blackjack deposit resource. Historical surface sampling in this area returning values up to 8.62 g/t gold.
Prospecting and mapping continue to define and expand mineralized areas located outside of the Blackjack and Eiger resource areas. Drill targets are currently being defined at the Josephine zone where visible gold was recently discovered on surface and where historical surface sampling has returned up to 7.36 g/t gold.
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.
Cor Coe, CEO, stated: “Mineralization, including visible gold, encountered within these large step-outs of up to 450 metres, is very encouraging and further demonstrates the potential to significantly expand our Blackjack deposit. In conjunction with recently completed surface sampling, geophysics, mapping and prospecting, it is becoming more and more evident that the Clear Creek Intrusive Complex, which spans for over 5 kilometres and hosts a minimum of 6 intrusions, has the potential to host several intrusion related gold deposits of significant size.”
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 $0.145. 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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Barry Morgan, CFO