Sitka Gold Corp. (“Sitka” or the “Company”) (CSE: SIG) (FSE: 1RF) (OTCQB: SITKF ) is pleased to announce a Preliminary Mineral Resource Estimate (“MRE”) compliant with the Canadian Mining, Metallurgical and Petroleum Institute (“CIM”) Defined Standard, Incorporated by Reference into National Instrument 43-101 (“NI 43-101”) for the Blackjack and Eiger Gold Mine, Contiguous 376 km2 RC Gold Project located within company road access (the “RC Gold Mine” or the “Project”) is located in the prolific Tombstone Gold Belt (TGB) in Yukon Territory. MRE compiled by GeoSim Services Inc. on behalf of the company and based on drilling conducted between 2020 and 2022.
The initial Mineral Resource estimate includes a total Inferred Mineral Resource of 1,340,000 ounces of gold from surface.
The Blackjack Zone, discovered in late 2021, contains higher-grade resources of 900,000 ounces of gold at a grade of 0.83 g/t gold at a 0.25 g/t cut-off.
The Blackjack and Eiger gold deposits are open in all directions and the resource excludes other areas, including the Saddle Zone, where drilling has confirmed additional gold mineralization.
Located in the Yukon Territory’s rapidly expanding Tombstone Gold Belt.
Preliminary metallurgical tests show that gold is not refractory, and the gold recovery rate is as high as 94%, and the consumption of NaCN is very low
The resource estimate is based on analytical data from 34 drill holes representing 11,630 meters of drill holes. A National Instrument 43-101 technical report describing the details of the Mineral Resource estimate is in preparation and will be submitted to SEDAR within 45 days of the publication of this news release.
“Producing an initial resource of more than 1.3 million ounces of gold from just 34 diamond drill holes marks a major milestone for our flagship project in the Yukon,” said Cor Coe, Director and Chief Executive Officer of Sitka. “Since 2020, Sitka has drilled the first four diamond holes in the Blackjack-Saddle-Eiger corridor, and our team knows we have found an area with a good chance of intrusion-related gold deposits. In such a short period of time This potential and the capabilities of Sitka’s technical and operational teams are demonstrated by advancing the project within 2020 and providing an initial resource estimate for the Blackjack and Eiger zones. This initial mineral resource provides a solid foundation as the Blackjack and Eiger deposits open in all directions , we can add more resources and unlock more value from our RC Gold project. The company is currently planning a total of 10,000 meters of winter and summer diamond drilling programs at RC Gold in 2023, focusing on Blackjack, “
The Blackjack and Eiger Zones are typically characterized by intrusive mineralization within an extended corridor of 2 km x 500 m (see press release 13 June 2022), which provides a structural and genetic link between Blackjack and Eiger Zone intrusions ( See Figure 1) ). The Blackjack and Eiger zones remain well connected and have excellent potential for resource expansion. The Saddle, between the Black Jack and the Eiger, is characterized by metasedimentary rocks intruded by dikes and ledges. The area is still relatively untested but contains substantial mineralization with the potential to add additional resources as shown by drill hole DDRCCC20-01 which returned 0.52 g/t gold from 84.8 m from surface, and DDRCCC21-19 with 80.0 m m intersected at 0.59 g/t gold from a depth of 48.0 m.
Drilling is planned at the RC Gold Project to provide Sitka geologists with a robust database of drilling data to understand the mineralization controls observed in intrusive and metasedimentary rocks, while also providing the necessary spatial density to generate initial resource estimates. Drilling analysis results and interpretation of structural information from directional drilling, detailed core logging data, reprocessed lidar data, and airborne magnetic geophysical surveys will form the basis for planning the 2023 resource expansion drilling program.
After receipt from the drilling site, the HQ size drill core was systematically documented, photographed and sampled for geological properties at the 2022 field camp in Sitka. Use sample lengths as small as 0.3 m to isolate features of interest, otherwise use the default 2 m downhole sample length. The core is cut in half longitudinally along a predetermined line and one half (the same half, always) is collected for analysis and the other half is stored as a record. Sitka personnel regularly insert standard reference material, blanks and duplicate samples into the sample stream. Bagged samples are placed in secure boxes to ensure integrity during transport. They are transported by Sitka personnel or contract couriers to ALS Laboratories’ preparation facility in Whitehorse, Yukon, and analyzed in North Vancouver.