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High Purity Alumina (HPA) at greater than 99.99% (4N) purity has been produced from the metallurgical processing of lake clays from Impact Minerals Limited’s (ASX:IPT) Lake Hope Project, located 500 km east of Perth in Western Australia (Figure 1). Impact can earn an 80% interest in Playa One Pty Limited, which owns the Lake Hope project, by completing a Pre-Feasibility Study (PFS) on the project which is in progress (ASX Release March 21st 2023 and November 9th 2023).
- Better than 99.99% (4N+) High Purity Alumina (Al2O3) produced from Lake Hope mud via the proprietary and patented Playa One Sulphate Process.
- The Sulphate Process underpins the recent Scoping Study, which demonstrated an NPV8 of A$1.3 billion for the project and an estimated operating cost to produce 4N HPA up to 50% lower than anyone else globally at less than US$4,000 per tonne.
- Production of larger quantities of HPA can now commence using the now-optimized Sulphate Process to demonstrate consistent quality to potential customers.
- Preliminary discussions with potential customers indicate very strong demand for 4N HPA.
- Other possible process routes to produce HPA from Lake Hope may be possible, with initial results due shortly.
- The Pre-Feasibility is on schedule to be completed in late 2024.
Impact Minerals Limited’s Managing Director, Dr Mike Jones, said, “The production of 4N HPA is a major milestone and exciting result for Impact and its shareholders as we have now shown that we can produce this high-value product, which commands prices of US$20,000 per tonne or more, from the mud in the top two metres of Lake Hope. It underpins the results of the Scoping Study, which showed an NPV8 of A$1.3 billion for the project and, at less than US$4,000 per tonne, possibly the lowest cost of production of HPA globally by a significant margin of up to 50%.
We have also optimized the Playa One Sulphate Process and have already started batch production of HPA to demonstrate consistent quality to our potential customers. We have discovered from our marketing that there is very strong demand for this high-value product, so we will continue progressing the Pre-Feasibility Study as quickly as possible. In addition, we recently uncovered two other possible process routes to produce HPA from these remarkable clays, which may offer yet further reductions in operating cost and capital expenditure if our initial test work is positive, and we are looking forward to getting those results soon,” Dr Jones said.
The 4N HPA was produced via a proprietary and patented metallurgical process called the ‘Sulphate Process’ which is owned by Playa One. The replication and optimization of this process for Lake Hope has been the key focus of Impact’s Pre-Feasibility Study to date, and therefore, these new results are a key milestone in the development of the project (ASX Releases March 21st 2023 and October 18th 2023).
The clays at Lake Hope occur in the top two metres of two small salt lakes on E63/2086 in a deposit containing about 880,000 tonnes of alumina (Al2O3) in various minerals. The deposit comprises Indicated (88%) and Inferred Resources (12%) of 3.5 million tonnes at an average grade of 25.1% alumina (see the Resource Estimate below and ASX Release 19th June 2023).
The lake clays contain a unique combination of naturally extremely fine-grained minerals, which delivers significant cost advantages to the mining and processing of the ore to produce HPA. The clays are free- digging and require no crushing, screening or other on-site preparation, and it is envisaged that the clay will be trucked offsite to a pre-permitted industrial site, most likely either in Kalgoorlie or Perth (Figure 1 and ASX Release March 21st 2023 and November 9th 2023).
Figure 1. Location of the Lake Hope Project.
The Playa One Sulphate Process is straightforward and comprises five stages based around very modest amounts of sulphuric acid (Figure 2): Stage 1 Wash circuit, Stage 2 Sulphuric acid leach and roast circuit, Stage 3 Intermediate alumina salt production, Stage 4 purification by conventional hydrochloric acid gas sparging and Stage 5 calcining to produce HPA. Results from the optimization of the first three Stages of the Process were reported to the ASX on October 18th 2023.
Click here for the full ASX Release
This article includes content from Impact Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
IPT:AU
NevGold Extends Oxide Gold-Antimony Mineralization Over 1.7 Kilometers at Cadillac Valley Target: 2.28 g/t AuEq Over 30.5 Meters (1.29 g/t Au And 0.22% Antimony) Within 1.61 g/t AuEq Over 61.0 Meters (1.08 g/t Au And 0.12% Antimony)
NevGold Corp. (“NevGold” or the “Company”) (TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) is pleased to announce additional oxide gold-antimony (“Antimony”, “Sb”) results extending mineralization over 1.7 kilometers at the Cadillac Valley target at its Limousine Butte Project (the “Project”, “Limo Butte”) in Nevada. The Company continues to unlock the substantial gold-antimony potential of the Project, highlighting its promising prospects for further exploration and development in Nevada, one of the world’s prolific mining jurisdictions.
Key Highlights
- Expands oxide gold-antimony mineralization at Cadillac Valley over 1.7 kilometers with results including
- LB119: 2.28 g/t AuEq* over 30.5 meters (1.29 g/t Au and 0.22% Sb), within 1.61 g/t AuEq* over 61.0 meters (1.08 g/t Au and 0.12% Sb)
- LB155: 1.01 g/t AuEq* over 36.6 meters (0.47 g/t Au and 0.12% Sb), within 0.77 g/t AuEq* over 59.5 meters (0.40 g/t Au and 0.08% Sb)
- LB141: 1.03 g/t AuEq* over 12.2 meters (0.57 g/t Au and 0.10% Sb), within 0.55 g/t AuEq* over 77.7 meters (0.41 g/t Au and 0.03% Sb)
- LIM-18: 0.86 g/t AuEq* over 22.9 meters (0.65 g/t Au and 0.05% Sb), within 0.38 g/t AuEq* over 74.7 meters (0.25 g/t Au and 0.03% Sb) in hole at the most northeast part of the Cadillac Valley target (Figure 1)
- *Gold equivalents (“AuEq”) are based on assumed metals prices of US$2,000/oz of gold and US$35,000 per tonne of antimony (~30% discount to current spot prices), and assumed metals recoveries of 85% for gold and 70% for antimony.
- Mineralization at Cadillac Valley now expands over 1.7 kilometers northeast to southwest, and over 400 meters laterally (Figure 1, Figure 2)
- Over 27 oxide gold-antimony holes have been released highlighting the consistent results across the two key advanced target areas at Limo Butte; 19 holes at Resurrection Ridge and 8 holes at Cadillac Valley (Figure 3)
- Metallurgical testwork program continues with over 100 kg bulk sample from the Project and NevGold core drilling; positive progress has been made and results are expected over the coming weeks
Limo Butte Planned 2025 Activities / Status Update
NevGold will continue its active exploration program at Limo Butte including:
- Evaluate the historical geological database with focus on gold and antimony (completed);
- Evaluate and re-analyze historical drilling with focus on gold and antimony (in progress, continues);
- Metallurgical testwork (in progress, results over coming weeks);
- 2025 drilling of gold-antimony targets (in planning phase).
Figure 1 – Limousine Butte Gold-Antimony Project with selected gold-antimony drillhole results from the Cadillac Valley Target. To view image please click here
Figure 2 – Limousine Butte Gold-Antimony Project long-section at Cadillac Valley, with selected gold-antimony drillhole results. Thin colored discs show Antimony (Sb ppm) in drilling, and wide colored discs show Gold (Au ppm) in drilling. To view image please click here
Figure 3 – Limousine Butte Gold-Antimony Project with selected gold-antimony drillhole results at Resurrection Ridge and Cadillac Valley. The total strike length between Resurrection Ridge and Cadillac Valley is +5km.
To view image please click here
NevGold CEO, Brandon Bonifacio, comments: “The recent set of oxide gold-antimony results from Cadillac Valley significantly increases the size of the mineralization footprint at the target, which now extends over 1.7 kilometers northeast to southwest, and over 400 meters laterally. It is extremely encouraging to see the consistent hole thickness and oxide gold-antimony grades at both of our advanced target areas. We are focused on advancing both Resurrection Ridge and Cadillac Valley to the Mineral Resource Estimate (“MRE”) stage in 2025. We have also progressed our gold and antimony metallurgical testwork program, which is advancing with Kappes, Cassiday, and Associates (“KCA”) of Reno, Nevada, and we are expecting results over the coming weeks. We strongly believe we have one of the most advanced gold-antimony assets in the United States, and we will continue to focus on unlocking the value at the Project over 2025.”
Historical and Re-Assayed Drill Results
| Hole ID | Length, m* | g/t Au | % Sb | g/t AuEq** | From, m | To, m |
| Cadillac Valley | ||||||
| LB119 | 61.0 | 1.08 | 0.12% | 1.61 | 146.3 | 207.3 |
| including | 30.5 | 1.29 | 0.22% | 2.28 | 152.4 | 182.9 |
| LB155 | 59.5 | 0.40 | 0.08% | 0.77 | 97.5 | 157.0 |
| including | 36.6 | 0.47 | 0.12% | 1.01 | 97.5 | 134.1 |
| LB141 | 77.7 | 0.41 | 0.03% | 0.55 | 61.0 | 138.7 |
| including | 12.2 | 0.57 | 0.10% | 1.03 | 61.0 | 73.2 |
| LIM-18 | 74.7 | 0.25 | 0.03% | 0.38 | 129.5 | 204.2 |
| including | 22.9 | 0.65 | 0.05% | 0.86 | 129.5 | 152.4 |
| LB22-007*** | 169.2 | 0.89 | 0.18% | 1.70 | 213.5 | 382.7 |
| including | 54.4 | 2.26 | 0.13% | 2.85 | 213.5 | 267.9 |
| also including | 3.10 | 0.76 | 2.76% | 13.15 | 259.2 | 267.9 |
| LB22-006*** | 124.7 | 0.84 | 0.11% | 1.34 | 127.4 | 252.1 |
| including | 24.3 | 1.32 | 0.20% | 2.23 | 160.6 | 184.9 |
| LB22-019*** | 28.9 | 1.09 | 0.04% | 1.27 | 170.7 | 199.6 |
| LB054*** | 12.2 | 0.42 | 0.08% | 0.79 | 12.2 | 24.4 |
*Downhole thickness reported; true width varies depending on drill hole dip and is ~70% to ~90% of downhole thickness.
**The gold equivalents (“AuEq”) are based on assumed metals prices of US$2,000/oz of gold and US$35,000 per tonne of antimony (~30% discount to current spot prices), and assumed metals recoveries of 85% for gold and 70% for antimony.
***Selected drillholes released in previous News Release on April 10, 2025.
Limo Butte Geology & Antimony Summary
A review of historical geochemical and drilling data at the Limousine Butte Project has identified multiple areas with strong gold-antimony potential. These zones correlate closely with outcrops of the Devonian Pilot Shale, the primary host rock for Carlin-type gold mineralization in the area. Positive gold grade at Limousine Butte is typically associated with silicification and the formation of jasperoid breccias within the Pilot Shale, an alteration feature also observed in the positive antimony results.
Through the Project data review, the Company uncovered reports detailing two small-scale historic mining operations at the Nevada Antimony Mine and Lage Antimony Prospect within the Limo Butte Project boundary. The Nevada Antimony Mine featured two prospect pits that extracted stibnite (formula: Sb2S3) from a hydrothermal breccia. The Lage Antimony Prospect reported historical unverified sampling results with up to 14.46% Antimony with additional prospect pits extracting antimony.
Historical geochemical rock chip sampling within the past-producing Golden Butte pit from a Brigham Young University (“BYU”) Thesis study produced numerous results that exceeded 1% antimony in jasperoid breccias (see Figure 1). Several results were greater than 5% antimony, including a sample of 9.6% antimony with visible stibnite and stibiconite. BYU Thesis Report
Figure 4 – Limousine Butte Project with historical antimony in rock chips and soils. The total strike length between Resurrection Ridge and Cadillac Valley is +5km. To view image please click here
US Executive Order – Announced March 20, 2025
The Company is pleased to report the recent, sweeping Executive Order to strengthen American mineral production and reduce U.S. reliance on foreign nations for its mineral supply. Antimony (Sb) has been identified as an important “Critical Mineral” in the United States essential for national security, clean energy, and technology applications, yet no domestically mined supply currently exists.
The Executive Order invokes the use of the Defense Production Act as part of a broad United States (“US”) Government effort to expand domestic minerals production on national security grounds. As it relates to project permitting, the Order states that it will "identify priority projects that can be immediately approved or for which permits can be immediately issued, and take all necessary or appropriate actions…to expedite and issue the relevant permits or approvals." Furthermore, the Order includes provisions to accelerate access to private and public capital for domestic projects, including the creation of a "dedicated mineral and mineral production fund for domestic investments" under the Development Finance Corporation ("DFC").
This decisive action by the US Government highlights the urgent need to expand domestic minerals output to support supply chain security in the United States. This important Order will help revitalize domestic mineral production by improving the permitting process and providing financial support to qualifying domestic projects.
Importance of Antimony
Antimony is considered a “Critical Mineral” by the United States based on the U.S. Geological Survey’s 2022 list (U.S.G.S. (2022)). “Critical Minerals” are metals and non-metals essential to the economy and national security. Antimony is utilized in all manners of military applications, including the manufacturing of armor piercing bullets, night vision goggles, infrared sensors, precision optics, laser sighting, explosive formulations, hardened lead for bullets and shrapnel, ammunition primers, tracer ammunition, nuclear weapons and production, tritium production, flares, military clothing, and communication equipment. Other uses include technology (semi-conductors, circuit boards, electric switches, fluorescent lighting, high quality clear glass and lithium-ion batteries) and clean-energy storage.
Globally, approximately 90% of the world’s current antimony supply is produced by China, Russia, and Tajikistan. Beginning on September 15, 2024, China, which is responsible for nearly half of all global mined antimony output and dominates global refinement and processing, announced that it will restrict antimony exports. In December-2024, China explicitly restricted antimony exports to the United States citing its dual military and civilian uses, which further exacerbated global supply chain concerns. (Lv, A. and Munroe, T. (2024)) The U.S. Department of Defense (“DOD”) has designated antimony as a “Critical Mineral” due to its importance in national security, and governments are now prioritizing domestic production to mitigate supply chain disruptions. Projects exploring antimony sources in North America play a key role in addressing these challenges.
Perpetua Resources Corp. (“Perpetua”, NASDAQ:PPTA, TSX:PPTA) has the most advanced domestic gold-antimony project in the United States. Perpetua’s project, known as Stibnite, is located in Idaho approximately 130 km northeast of NevGold’s Nutmeg Mountain and Zeus projects. Positive advancements at Stibnite including the technical development and permitting has led to US$75 million in Department of Defense (“DOD”) awards, and over $1.8 billion in indicative financing from the Export Import Bank of the United States (“US EXIM”) (see Perpetua Resources News Release from April 8, 2024) (Perpetua Resources. (2025))
Drillhole Orientation Details
| Hole ID | Target Zone | Easting | Northing | Elevation (m) | Length (m) | Azimuth | Dip |
| LB119 | CV | 665171 | 4415453 | 2026 | 269.7 | 130 | -75 |
| LB155 | CV | 664635 | 4414684 | 2058 | 304.8 | 0 | -90 |
| LB-141 | CV | 664995 | 4415167 | 2020 | 163.1 | 120 | -70 |
| LIM-18 | CV | 665421 | 4415694 | 2034 | 219.5 | 0 | -90 |
| LB22-007 | CV | 665211 | 4415453 | 2031 | 403.5 | 254 | -86 |
| LB22-006 | CV | 664692 | 4414921 | 2042 | 379.8 | 144 | -77 |
| LB22-019 | CV | 664433 | 4414318 | 2096 | 335.3 | 116 | -66 |
| LB054 | CV | 665323 | 4415090 | 2059 | 157.0 | 0 | -90 |
Figure 5 – Limousine Butte Land Holdings and District Exploration Activity To view image please click here
Grant of Options
The Company also announces that it has granted an aggregate of 2,600,000 stock options of the Company (each, a “Stock Option”) to certain directors, officers and consultants of the Company. Each Stock Option entitles the holder to acquire one common share of the Company at an exercise price of $0.33 per share at varying expiry dates between June 12, 2027 and June 12, 2030. The Stock Options were issued pursuant to the terms of the Company’s stock option plan. The Stock Options granted to directors, officers, and consultants of the Company vest immediately, and the Stock Options granted to investor relations service providers vest in the amount of 25% every three months following the date of grant over a 12-month period.
ON BEHALF OF THE BOARD
“Signed”
Brandon Bonifacio, President & CEO
For further information, please contact Brandon Bonifacio at bbonifacio@nev-gold.com, call 604-337-4997, or visit our website at www.nev-gold.com.
Historical Data Validation
NevGold QA/QC protocols are followed on the Project and include insertion of duplicate, blank and standard samples in all drill holes. A 30g gold fire assay and multi-elemental analysis ICP-OES method was completed by ISO 17025 certified American Assay Labs, Reno.
The Company’s Qualified Person (“QP”), Greg French, Vice President, Exploration has completed a review of the historical data in this press release. The historic data collection chain of custody procedures and analytical results by previous operators appear adequate and were completed to industry standard practices. For the Newmont and US Gold data a 30g gold fire assay and multi-elemental analysis ICP-OES method MS-41 was completed by ISO 17025 certified ALS Chemex, Reno or Elko Nevada.
Geochemical ICP (5g) analysis for the Wilson, Christianson and Tingey report was completed by Geochemical Services Inc. and the XRF analyses (glass disk or pellets) by Brigham Young University.
Technical information contained in this news release has been reviewed and approved by Greg French, CPG, the Company’s Vice President, Exploration, who is NevGold’s Qualified Person under National Instrument 43-101 and responsible for technical matters of this release.
About the Company
NevGold is an exploration and development company targeting large-scale mineral systems in the proven districts of Nevada and Idaho. NevGold owns a 100% interest in the Limousine Butte and Cedar Wash gold projects in Nevada, and the Nutmeg Mountain gold project and Zeus copper project in Idaho.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur. Forward-looking statements include, but are not limited to, the proposed work programs at Limousine Butte, and the exploration potential at Limousine Butte. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such risks include, but are not limited to, general economic, market and business conditions, and the ability to obtain all necessary regulatory approvals. There is some risk that the forward-looking statements will not prove to be accurate, that the management’s assumptions may not be correct or that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
Drilling continues to return significant high-grade mineralisation
Highlights:
- Deep diamond drilling successfully returns high-grade gold mineralisation under the MRE pit shell, including:
- 26m at 7.90 g/t Au from 444.0m, including 13.3m at 13.39 g/t Au in KDD055
- 10.5m at 16.72 g/t Au from 427.5m, including 2.0m at 84.68 g/t Au in KDD059
- Shallow Reverse circulation (RC) drilling at Central Zone near KRC3312 positively extends this high-grade shoot with significant intercepts, including:
- 16m at 2.96 g/t Au from 198m, including 6m at 6.18 g/t Au in KRC389
- 28m at 3.44 g/t Au from 192m, including 8m at 8.40 g/t Au in KRC396
- Infill drilling for shallow resource conversion at NW and Northern Zones confirm the strong continuity in gold mineralisation, including the following intercepts:
- 21m at 1.50 g/t Au from 82.9m in KDD062
- 23m at 1.69 g/t Au from 208.0m in KDD063
- 45m at 1.13 g/t Au from 66m in KRC371
- 28m at 1.06 g/t Au from 127m in KRC373
- 20m at 1.13 g/t Au from 51m in KRC375
- None of the drilling results of the high-grade zone beneath the pit shell, the high-grade shoot (both in the Central Zone), or infill drilling at NW or Northern Zones, are included in the current Mineral Resource Estimate (MRE) – an updated MRE is expected in the coming weeks
- Drilling continues with one RC rig and three DD rigs at Kokoseb
Commenting on the results, Wia Executive Chairman, Josef El-Raghy, said:
“Kokoseb continues to show consistency in gold mineralisation at depth and along strike, with some excellent results from within and outside of the current pit shell outline. The accelerated drilling programme, with three DD rigs targeting the high-grade shoots at depth, and one RC rig focussing on infill drilling to improve our understanding of the current 2.12m oz Au resource, is bearing fruit with results to be included in the updated MRE due in the next few weeks.”
Figure 1 – Drill hole locations, focused at the northern area of Kokoseb, location of the cross sections of this announcement, and significant intercepts on drill holes reported in this announcement3 (DD drillholes purple background, RC drillholes white background)
Click here for the full ASX Release
This article includes content from WIA Gold, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Sitka Deepens Winter Drill Hole and Intersects 65.0 Metres of 2.00 g/t Gold, Including 6.3 Metres of 5.53 g/t Gold; Mobilizes Fourth Drill Rig to the Rhosgobel Target at Its RC Gold Project, Yukon
Sitka Gold Corp. (TSXV: SIG) (FSE: 1RF) (OTCQB: SITKF) ("Sitka" or the "Company") is pleased to announce initial assay results from its 2025 summer drill program currently underway at its 100% owned RC Gold Project located in Yukon's prolific Tombstone Gold Belt (see Figure 6). Results received from the extension of DDRCCC-25-076, which was initially completed to a depth of 810.8 metres during winter drilling earlier this year (see news release dated May 8, 2025) and subsequently extended to 944.9 metres, returned 65.0 m of 2.00 g/t gold from 806.0 metres, which includes two higher grade intervals of 8.0 m of 4.80 g/t gold and 6.26 m of 5.53 g/t gold (see Table 1). The Company is also pleased to announce that a fourth drill rig is being mobilized to the Rhosgobel intrusion target where up to 10,000 metres of drilling is proposed to build upon the discovery hole from last year that returned 164.8 metres of 0.82 g/t gold starting 9 metres from surface, including 119.0 metres of 1.05 g/t gold, 37.9 metres of 2.05 g/t gold and 11.5 metres of 4.32 g/t gold (see news release dated November 25, 2025). In addition, the Company is pleased to announce that visible gold has been observed for the first time ever in drill core from the Saddle zone. Three drill rigs are currently turning at the Blackjack, Saddle and Eiger zones (see Figure 6) as part of a fully funded, 30,000 metre drill campaign planned for 2025, with a total of over 6,127 metres within 17 drill holes completed so far this year. Assays are currently pending for DDRCCC-25-077 to DDRCCC-25-091.
- Extension of DDRCCC-25-076 confirms significant gold mineralization continues for over one kilometre from surface at the Blackjack deposit and confirms the potential for an underground mining component to the deposit
- Fourth drill rig mobilizing to the Rhosgobel target where up to 10,000 m of drilling is planned to follow up on discovery drill holes announce last fall
- First ever visible gold observed in drill core from the Saddle zone where drilling is currently testing a possible linkage between the Blackjack and Eiger gold deposits
- 30,000 metre drill program rapidly advancing with 17 holes totalling approximately 6,127 metres completed to date within the Blackjack-Saddle-Eiger area
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/255209_7e3b44bdc42a4b3d_002full.jpg
"Our decision to re-enter and deepen Hole 76 has yielded some impressive results," said Cor Coe, Director and CEO of Sitka. "As the deepest hole drilled to date, Hole 76 adds to the growing evidence of a potential underground component to the Blackjack gold deposit and demonstrates that intervals of significant gold values persist almost a kilometre deep from where this deposit begins at surface. The higher-grade gold seen at depth in this and other deep drill holes, supports the notion that we could be vectoring towards the potential source of this gold system."
"We are also very excited to be mobilizing our fourth drill rig to the Rhosgobel intrusion where the first two diamond drill holes ever drilled, completed by Sitka last year, resulted in two new discovery holes that returned significant gold intervals starting 9 metres from surface. This target sits within a large 1.5 x 2.0 kilometre gold-in-soil anomaly with historical shallow drill results showcasing significant gold values. Sitka's discovery holes demonstrate that gold mineralization continues to at least 300 metres, suggesting the possibility of a large gold deposit being present in the area."
"Lastly, we are happy to announce the first ever observations of visible gold at the Saddle zone, where drilling is currently ongoing as we investigate the potential of the Saddle zone to link the Blackjack and Eiger gold deposits. We have now confirmed that visible gold is present at the Blackjack, Saddle, Eiger, Josephine, Pukleman and Rhosgobel targets which are all located within the 5 x 12 kms Clear Creek Intrusive Complex area. With up to 10,000 metres of drilling about to begin at Rhosgobel, 5,000 metres of drilling allocated for Pukelman and 15,000 metres of drilling currently underway at the Blackjack-Saddle-Eiger corridor, we are looking forward to a steady flow of results as we further ramp up our fully funded 30,000 metre drill program at RC Gold."
Figure 1: Cross Section of DDRCCC-25-076 demonstrating the continuation of higher-grade gold mineralization at depth in the hole. Gold mineralization continues to the end of the hole at 944.9 metres with 4.9 metres of 0.95 g/t gold reported in metasediments located in the footwall of the lamprophyre dyke.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/255209_7e3b44bdc42a4b3d_003full.jpg
Figure 2: Plan map of drilling at the Blackjack Deposit showing the location of hole DDRCCC-25-076 and the location of hole DDRCCC-25-086 where visible gold was observed in drill core for the first time ever at the Saddle Zone.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/255209_7e3b44bdc42a4b3d_004full.jpg
BLACKJACK DRILLING
Drill hole DDRCCC-25-076 was drilled to a depth of 810.8 metres during winter drilling to test the deep underground potential of the Blackjack deposit. Winter results from Hole 76 returned 94.0 m of 1.15 g/t gold including 12.2 m of 4.55 g/t gold, and a separate interval of 25.0 m of 5.04 g/t gold, including 1.8 metres of 54.70 g/t gold within 86.4 m of 1.65 g/t gold (see news release dated May 8, 2025). Hole 076 was subsequently extended from 810.8 metres to a depth of 944.9 metres at the start of the summer drilling campaign, to follow up on gold mineralization identified at the bottom of the hole during the winter program. The extended drilling intercepted several examples of visible gold hosted within sheeted quartz veins cutting altered biotite schists and feldspar megacrystic quartz monzonite and returned 65.0 m of 2.00 g/t gold from 806.0 metres, which includes two higher grade intervals of 8.0 m of 4.80 g/t gold and 6.26 m of 5.53 g/t gold (see Table 2). The higher grade gold intersections were hosted within metasediments and intrusive rocks respectively. Gold mineralization was intersected at the end of the hole with 4.9 metres of 0.95 g/t gold from 940.0 metres to 944.9 metres in the footwall metasediments after cutting the lamprophyre dyke, demonstrating the mineralized conduit feeding this gold system continues to depth.
RHOSGOBEL DRILLING
Sitka is pleased to initiate the first large scale diamond drilling of the Rhosgobel intrusion with 10,000 metres of drilling planned on the target. Discovery hole DDRCRG-24-001, the first diamond drill hole ever completed on the Rhosgobel intrusion, returned 164.8 metres of 0.82 g/t gold starting 9 metres from surface, including 119.0 metres of 1.05 g/t gold, 37.9 metres of 2.05 g/t gold and 11.5 metres of 4.32 g/t gold (see Figure 4).
The Rhosgobel intrusion is the largest and southernmost exposed intrusion that forms a part of the Clear Creek Intrusive Complex (the "CCIC"; see Figure 6). The Rhosgobel intrusion is a megacrystic quartz monzonite (MCQM) similar to the Saddle Intrusion that hosts the Blackjack Deposit 5 km to the north.
Previous shallow reverse circulation drilling completed in 1995 identified widespread gold mineralization within a 1.5 by 2.0 kilometre gold-in-soil anomaly within the Rhosgobel intrusion demonstrating the potential of the intrusion to host a near surface gold deposit. No further work was completed on the Rhosgobel intrusion until 2024 when the Sitka completed the first two diamond drill holes ever drilled on the target.
SADDLE ZONE DRILLING
Current drilling has identified the first instance of visible gold at the Saddle Zone in Hole DDRCCC-25-086 ("Hole 86"). The Saddle zone is located midway between the Blackjack and Eiger deposits and is partially within the conceptual pit limit of the Blackjack resource. Drilling at Saddle will expand on previous drill intercepts including 84.0 m of 1.21 g/t gold in DDRCCC-25-054. Hole 86 was drilled at an azimuth of 210o and dip of -50o to a final length of 126.5 metres to test the shallow potential of gold mineralization in this area (see Figure 2). The drill hole intercepted broad areas of hornfels metasediments interlaced with quartz veining, quartz monzonite dykes/sills as well as some minor faults and breccia zones. Several instances of visible gold were noted throughout the hole, in quartz veins in metasedimentary rock (see Figure 5).
Figure 3: Shallow historical reverse-circulation drilling in the Rhosgobel intrusion in 1995 demonstrated significant gold mineralization occurred within a 1.5 by 2.0 km gold in soil anomaly The first ever diamond drill holes completed at Rhosgobel in 2024 (DDRCRG-24-001 and 002) further highlight the potential for this gold system to continue to a depth of at least 300 metres.
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Figure 4: Examples of visible gold observed in DDRCCC-25-086 at the Saddle Zone
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Figure 5: Regional map of the RC Gold Project located in Yukon's prolific Tombstone Gold Belt.
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Figure 6: A plan map of the Clear Creek Intrusive Complex (CCIC) showing the updated resource areas at Blackjack and Eiger, and the six additional areas that have drill targets indicated by the mauve hatched areas. The map highlights the numerous drill targets that Sitka has outlined within the CCIC which all are connected by the road network on the project and occur in an area measuring five (5) km north-south and twelve (12) km east-west. Additional areas highlighted by strong gold in soil anomalies are being advanced to the drill ready stage with additional geological work in 2025.
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Quality Assurance/Quality Control
On receipt from the drill site, the HTW/NTW-sized drill core was systematically logged for geological attributes, photographed and sampled at Sitka's core logging facility. Sample lengths as small as 0.3 m were used to isolate features of interest, otherwise a default 2 m downhole sample length was used. Each sample is identified by a unique sample tag number which is placed in the bag containing the core to be assayed. Core was cut in half lengthwise along a predetermined line, with one-half (same half, consistently) collected for analysis and one-half stored as a record. Standard reference materials, blanks and duplicate samples were inserted by Sitka personnel at regular intervals into the sample stream. Bagged samples were placed in secure bins to ensure integrity during transport. They were delivered by Sitka personnel or a contract expeditor to ALS Laboratories' preparatory facility in Whitehorse, Yukon, with analyses completed in North Vancouver.
ALS is accredited to ISO 17025:2005 UKAS ref. 4028 for its laboratory analysis. Samples were crushed by ALS to over 70 per cent passing below two millimetres and split using a riffle splitter. One-thousand-gram splits were pulverized to over 85 per cent passing below 75 microns. Gold determinations are by fire assay with an inductively coupled plasma mass spectroscopy (ICP-AES) finish on 50 g subsamples of the prepared pulp (ALS code: Au-ICP-22). Any sample returning over 10 g/t gold was re-analyzed by fire assay with a gravimetric finish on a 50 g subsample (ALS code: Au-GRA21). In addition, a 51-element analysis was performed on a 0.5 g subsample of the prepared pulps by an aqua regia digestion followed by an inductively coupled plasma mass spectroscopy (ICP-MS) finish (ALS code: ME-MS41).
About the flagship RC Gold Project
Sitka's 100% owned RC Gold Project consists of a 431 square kilometre contiguous district-scale land package located in the heart of Yukon's Tombstone Gold Belt. The project is located approximately 100 kilometres east of Dawson City, which has a 5,000 foot paved runway, and is accessed via a secondary gravel road from the Klondike Highway which is usable year-round and is an approximate 2 hour drive from Dawson City. It is the largest consolidated land package strategically positioned mid-way between the Eagle Gold Mine and the past producing Brewery Creek Gold Mine.
The RC Gold Project now has pit-constrained mineral resources that are contained in two zones: the Blackjack and Eiger gold deposits with 1,291,000 ounces of gold in 39,962,000 tonnes grading 1.01 g/t gold in an indicated category and 1,044,000 ounces of gold in 34,603,000 tonnes grading 0.94 g/t in an inferred category at Blackjack and 440,000 ounces of gold in 27,362,000 tonnes grading 0.50 g/t gold in an inferred category at Eiger. These resource estimate numbers are supported by the recently updated technical report for RC Gold, prepared in accordance with NI 43-101 standards, entitled "Clear Creek Property, RC Gold Project NI 43-101 Technical Report Dawson Mining District, Yukon Territory", prepared by Ronald G. Simpson, P. Geo., of GeoSim Services Inc. with an effective date of January 21, 2025. This report is available on SEDAR+ (http://www.sedarplus.ca) and on the Company's website (www.sitkagoldcorp.com).
Both of these deposits begin at surface, are potentially open pit minable and amenable to heap leaching, with initial bottle roll tests indicating that the gold is not refractory and has high gold recoveries of up to 94% with minimal NaCN consumption (see News Release July 13, 2022).
As of the end of 2024, the Company has drilled 72 diamond drill holes into this system for a total of approximately 25,136 metres. Other targets drilled to date include the Saddle, Josephine, Rhosgobel and Pukelman zones. The resource expansion drilling in 2023 at Blackjack produced results of up to 219.0 m of 1.34 g/t gold including 124.8 m of 2.01 g/t gold and 55.0 m of 3.11 g/t gold in drill hole DDRCCC-23-047 (see news release dated September 26, 2023) and in 2024 results of up to 678.1 metres of 1.04 g/t gold starting from surface in DDRCCC-24-068, including 409.5 metres of 1.36 g/t gold, 93.0 metres of 2.57 g/t gold and 5.5 metres of 17.59 g/t gold (see news release dated October 21, 2024). Results from DDRCCC-25-075, completed during winter drilling in 2025, produced the best high-grade intercepts drilled to date at Blackjack, returning 352.8 m of 1.55 g/t gold including 108.9 m of 3.27 g/t gold and 45.0 m of 4.52 g/t gold (see news release dated April 22, 2025).
A planned 30,000 metre diamond drilling program for 2025 is currently underway at RC Gold.
RC Gold Deposit Model
Exploration on the Property has mainly focused on identifying an intrusion-related gold system ("IRGS"). The property is within the Tombstone Gold Belt which is the prominent host to IRGS deposits within the Tintina Gold Province in Yukon and Alaska. Notable deposits from the belt include: Fort Knox Mine in Alaska with current Proven and Probable Reserves of 230 million tonnes at 0.3 g/t Au (2.471 million ounces; Sims 2018)(1); Eagle Gold Mine with current Measured and Indicated Resources of 233 million tonnes at a grade of 0.57 g/t Au at the Eagle Main Zone (4.303 million ounces; Harvey et al, 2022)(2); the Brewery Creek deposit with current Indicated Mineral Resource of 22.2 million tonnes at a gold grade of 1.11 g/t (0.789 million ounces; Hulse et al. 2020)(3); the AurMac Project with an Inferred Mineral Resource of 347.49 million tonnes grading 0.63 gram per tonne gold (7.00 million ounces)(4) and the Valley Deposit, with a current Measured and Indicated Mineral Resource of 7.94 million oz gold at 1.21 g/t and an additional Inferred Mineral Resource of 0.89 million oz at 0.62 g/t gold(5).
(1) Sims J. Fort Knox Mine Fairbanks North Star Borough, Alaska, USA National Instrument 43-101 Technical Report. June 11, 2018. https://s2.q4cdn.com/496390694/files/doc_downloads...
(2) Harvey N., Gray P., Winterton J., Jutras M., Levy M.,Technical Report for the Eagle Gold Mine, Yukon Territory, Canada. Victoria Gold Corp. December 31, 2022. https://vgcx.com/site/assets/files/6534/vgcx_-_202...
(3) Hulse D, Emanuel C, Cook C. NI 43-101 Technical Report on Mineral Resources. Gustavson Associates. May 31, 2020. https://minedocs.com/22/Brewery-Creek-PEA-01182022...
(4) Thornton T., Jutras M., Malhotra D. Technical Report Aurmac Property Mayo Mining District, Yukon Territory, Canada. JDS Energy and Mining Inc. February 6, 2024. https://banyangold.com/site/assets/files/5251/bany...
(5) https://snowlinegold.com/2025/05/15/snowline-gold-...
Upcoming Events
Sitka Gold will be attending and/or presenting at the following events*:
- Take Stock - Calgary, AB : July 2 - 3, 2025
- Yukon Mining Alliance Property Tours - Dawson City, Yukon: July 11 - 14, 2025
- Precious Metals Summit, Beaver Creek, Colorado: September 9 - 12, 2025
- Yukon Geoscience Forum, Whitehorse, YT: November 16 - 19, 2025
- Swiss Mining Institute, Zürich, Switzerland: November 19 - 22, 2025
*All events are subject to change.
About Sitka Gold Corp.
Sitka Gold Corp. is a well-funded mineral exploration company headquartered in Canada. The Company is managed by a team of experienced industry professionals and is focused on exploring for economically viable mineral deposits with its primary emphasis on gold, silver and copper mineral properties of merit. Sitka is currently advancing its 100% owned, 431 square kilometre flagship RC Gold Project located within the Tombstone Gold Belt in the Yukon Territory. The Company is also advancing the Alpha Gold Project in Nevada and currently has drill permits for its Burro Creek Gold and Silver Project in Arizona and the Coppermine River Project in Nunavut, all of which are 100% owned by the Company.
*For more detailed information on the Company's properties please visit our website at www.sitkagoldcorp.com.
The scientific and technical content of this news release has been reviewed and approved by Gilles Dessureau, P.Geo., V.P. Exploration of the Company, and a Qualified Person (QP) as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SITKA GOLD CORP.
"Donald Penner"
President and Director
For more information contact:
Donald Penner
President & Director
778-212-1950
dpenner@sitkagoldcorp.com
or
Cor Coe
CEO & Director
604-817-4753
ccoe@sitkagoldcorp.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary and Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions and the Company's anticipated work programs.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, market uncertainty and the results of the Company's anticipated work programs.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.