EQS-News

Sitka Gold Announces Maiden Resource of 1,340,000 Ounces of Gold for RC Gold Project in the Yukon - Seite 2

The Blackjack and Eiger zones are characterized by intrusion-related mineralization within the 2 km x 500 m extension corridor that provides a structural and genetic link between the Blackjack zone and Eiger zone intrusions (see Figure 1). The Blackjack and Eiger zones remain open in all directions and have excellent potential for resource expansion. The Saddle Zone, located midway between the Blackjack and Eiger Zones, is characterized by metasedimentary rocks intruded by veins and sills. This zone is relatively untested, but contains significant mineralization with the potential to add additional resources, as demonstrated by drill hole DDRCCC20-01, which returned 0.52 g/t gold over 84.8 m from surface, and DDRCCC21-19, which intersected 80.0 m grading 0.59 g/t gold from 48.0 m depth.

Conclusion: Sitka Gold's speed and determination are second to none: In just over a year after the initial Blackjack discovery at the RC project in late 2021, Sitka now presents a remarkable maiden resource estimate of 1.3 million ounces of gold. Comparatively modest 11,000 meters of drilling (34 holes) have sufficed to achieve this. What is particularly encouraging is that the resource starts from surface and that it contains 900,000 higher grade ounces around Blackjack (just 20 holes) at average grades of 0.83 g/t. This figure is over 30 percent higher than the grades of the nearby Banyan Gold’s resource at Aurmac which now contains 4 Mio. ounces at 0,6 g/t applying a cutoff grade of 0,2 g/t. To get there took Banyan several hundreds of drill holes while Banyan’s initial resource started with 900.000 ounces at 0,5 g/t Gold. The difference in grades is no coincidence because, unlike Banyan, Sitka has hit the higher grade intrusive zone, not just the metasedimentary bedrock. Sitka intends to leverage this structural advantage as it continues to explore, seeking to connect the three individual parts of the project – Blackjack, Saddle and Eiger – into a cohesive resource area. In a best case scenario, the planned 10,000 meters of drilling could again double the now published resource by the end of this year. There are few gold explorers with similar momentum, if any.