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First Gold Doré Following Successful Carbon Strip
HIGHLIGHTS
- REZ successfully pours first gold doré from its maiden vat leach trial at the East Menzies Gold Project
- Gold doré from this first pour has now been transported to the Perth Mint for refining and sale
- The trial shows the effectiveness of vat leaching as a gold recovery method and provides confidence for further expansion
- Onsite operators anticipate a regular gold pour cycle, with gold pours expected to occur approximately every three weeks moving forward, reinforcing the continuity of production at East Menzies
- Demonstrating confidence in this process, REZ has already submitted a second mining application with DMIRS for an expanded vat leach operation, covering 8 new vats and up to 40,000 tonnes of material from the Maranoa deposit
- This gold doré pour coincides with record-high gold prices, strengthening REZ’s potential for strong cash flow generation in the coming months
REZ Group Managing Director J. Daniel Moore said:
"The first gold doré pour is a transformational moment for REZ, proving the effectiveness of our vat leach process and reinforcing our ability to generate near-term cash flow.
The trial has given us the confidence to move forward with an expanded mining and processing program at East Menzies, and we are already taking steps to scale up our operations. We are well-positioned for sustainable growth with strong gold prices and an optimised production model."
COMMISSIONING OF A MINING & PROCESSING PROGRAM
- With the successful output from the vat leach trial confirmed, REZ is now progressing with commissioning a structured mining and processing program at East Menzies.
- To accelerate growth, the Company has submitted an application to the Western Australian Department of Mines, Industry Regulation and Safety (DMIRS) for an additional 8 vat leach dams, allowing for the processing of up to 40,000 tonnes of material from the Maranoa deposit.
- This expansion positions REZ to transition from a trial phase to a structured, scalable gold recovery operation and gold producer.
STRATEGIX EXPANSION AND PRODUCTION GROWTH
- Demonstrated Gold Recovery Success – The trial vat leach process has successfully recovered gold from the Maranoa deposit, validating this low-cost processing method.
- Gold Doré Transported to Perth Mint – Gold doré bars from this first pour have now been delivered to the Perth Mint for refining and sale.
- Scaling Up Operations – REZ’s new DMIRS application represents a significant step forward in unlocking the full production potential of the consolidated East Menzies Project.
- Sustained Production Strategy – The Company is implementing a stockpiling and batch processing model, ensuring consistent production while maintaining flexibility in refining and sales.
Figures 1-2: Dore bar in hand at Kalgoorlie Mill
EXPLORATION UPSIDE: GIGANTE GRANDE
Beyond near-term production, REZ’s Gigante Grande prospect presents a potential company-defining gold discovery. The Company continues to refine its exploration model and sees multi-million-ounce potential at this prospect.
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This article includes content from Resources & Energy Group Limited, 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.
Altair Minerals: High-quality, Growing Exploration Portfolio with Potential for Large Copper-Gold Deposits
Strategically positioned to unlock the value of its Venatica and Olympic Domain projects, Altair Minerals (ASX:ALR) is leveraging cutting-edge exploration techniques and its seasoned technical team’s expertise for significant copper and gold discoveries. Through a disciplined and systematic approach, Altair centers on building a portfolio of high-quality assets with the potential to become Tier-1 discoveries.
Altair Minerals' flagship Venatica Project is strategically situated in Peru’s Andahuaylas-Yauri Porphyry Belt, a globally significant copper-producing region. The project is neighboring and sitting along strike Tier-1 mines, including Las Bambas, Antapaccay and Haquira, collectively establishing the area as one of the world’s premier porphyry copper districts.
Location of Venatica Project, sitting along the Las Bambas trend and on key contact of Andahuaylas-Yauri Intrusive Batholith which is the main structural feature facilitating Tier-1 Copper deposits on the belt.Venatica’s land package is strategically positioned along the northern extension of the batholith intrusion contact zone, a geological anomaly known for hosting large-scale copper deposits with no modern exploration. Altair holds a first-mover advantage, being the first company to test the extension of this trend which has without failure made Tier-1 discoveries every ~60 km. The project’s geology is characterized by a combination of porphyry and skarn mineralization, which underpins its exceptional exploration potential.
Company Highlights
- Altair Minerals’ two world-class projects - Venatica in Peru and Olympic Domain in Australia - are located in globally significant mining districts, targeting Tier-1 copper and gold deposits.
- Venatica Project is a 337 sq km exploration project in the world-famous Andahuaylas-Yauri Porphyry Belt, featuring extensive copper-gold porphyry and skarn mineralization with proven high-grade historical production.
- The Olympic Domain project, located in South Australia’s Gawler Craton, is an 831 sq km IOCG project adjacent to BHP’s Oak Dam deposit (1.34 Bt @ 0.66 percent copper and 0.33 g/t gold) and boasts major analogous geophysical anomalies just 5 km from the Oak Dam deposit, indicative of significant mineralization.
- Historic sampling and exploration work was conducted at Venatica by INMET prior to its subsequent take over First Quantum for C$5.1 billion. The historic work has shown two major porphyry targets of 6 sq kmand 4 sq km, respectively, which have demonstrated abundant copper mineralisation at surface.
- Historic sampling at Venatica covers a small portion of the overall target, leaving substantial scope to expand its target size which remains open in all directions, these samples include:
- 7.0 percent copper and 33 g/t silver (sample 2254)
- 5.7 percent copper and 43 g/t silver (sample 4807)
- 4.8 percent copper and 32 g/t silver (sample 15245)
- 6.5 percent copper and 0.52 g/t gold (sample 4803)
- 4.8 percent copper and 0.40 g/t gold (sample 4801)
- Advanced geophysical techniques, modernized modelling has refined drill at Olympic Domain which shows previous impressive holes have narrowly missed the true core of the IOCG body, which shows a target size larger than the adjacent Oak Dam deposit owned by BHP.
- Altair’s boasts a first class and leading technical exploration team, who have cumulatively contributed to 11.4 Mt of copper and 26 Moz of gold discoveries in the past two decades.
This Altair Minerals profile is part of a paid investor education campaign.*
Click here to connect with Altair Minerals (ASX:ALR) to receive an Investor Presentation
Sitka Prepares for Winter Diamond Drilling Program at Its RC Gold Project, Yukon
Sitka Gold Corp. (TSXV: SIG) (FSE: 1RF) (OTCQB: SITKF) ("Sitka" or the "Company") is pleased to announce that preparations are currently underway for a winter diamond drilling program scheduled to begin this month at its flagship RC Gold Project ("RC Gold" or the "Project"), located in the prolific Tombstone Gold Belt in Yukon. The winter drilling campaign will mark the start of a fully funded 30,000 metre diamond drilling program planned for RC Gold this year.
The Company recently announced an updated mineral resource estimate ("MRE") at RC Gold of 1.3 million ounces of gold indicated and 1.5 million ounces of gold inferred (see news release dated January 21, 2025 and Table 1). The MRE includes updated gold resource estimates at its 100% owned Blackjack deposit comprised of an indicated resource of 1.29 million ounces at a grade of 1.01 g/t gold and an inferred resource of 1.04 million ounces at a grade of 0.94 g/t gold using a 0.30 g/t gold cut-off grade. The primary focus of drilling this year will be to continue upgrading and expanding the Blackjack deposit, which remains open in all directions, and further test gold mineralization within the Clear Creek Intrusive Complex (CCIC), including at the Eiger Deposit, which also remains open in all directions, and at the Saddle, Rhosgobel, Contact and Pukelman targets (see Figures 1 and 2). In late 2024, the Company completed the first ever diamond drill holes at Rhosgobel which significantly increased the depth of known gold mineralization at the target area with gold mineralization now extending from surface to a depth of at least 300 metres. Two holes were completed and returned multiple observations of visible gold and impressive intervals of strong gold mineralization with assays of up to 119.0 m of 1.05 g/t gold including 37.9 m of 2.05 g/t gold and 11.5 m of 4.32 g/t gold (see news release dated November 25, 2024).
"We are very excited to begin preparations for our 2025 diamond drilling program at RC Gold where we plan to get a significant jump on this year's drilling season with a winter drilling program", stated Cor Coe, Director and CEO of Sitka. "Since 2022, and with limited drilling, we have taken RC Gold from an initial discovery hole to a very impressive gold resource that has the potential to grow considerably. With 30,000 metres of drilling planned for 2025, which is more than double the total amount of drilling that we have completed to date at the Project, we are on track to rapidly advance RC Gold this year with significant expansion drilling at the Blackjack and Eiger deposits as well as follow up drilling at the other intrusion-related gold targets within the Clear Creek Intrusive Complex, including the Rhosgobel and Pukelman intrusions where drilling last year confirmed robust gold mineralization is present similar to that observed at the Blackjack deposit."
Figure 1 - Plan map showing the multiple high-priority target areas within the Clear Creek Intrusive Complex. 30,000 metres of drilling is planned in this area for 2025 with a proposed allocation of approximately 15,000 metres across the Blackjack - Eiger target area, 10,000 metres at Rhosgobel - Bear Paw and 5,000 metres at Pukelman.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/239538_5865d4ae54fad868_002full.jpg
Figure 2 - Long Section showing target areas from the Blackjack deposit to the Rhosgobel target and the proposed drilling allocated as part of the 30,000 metre diamond drilling program planned for 2025.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/239538_sitkafig2.jpg
About the flagship RC Gold Project
The 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 prepared in accordance with National Instrument 43-101 ("NI 43-101") guidelines that are contained in two zones: the Blackjack and Eiger deposits with 1,291,000 ounces of gold grading 1.01 g/t gold in an indicated category and 1,044,000 grading 0.94 g/t in an inferred category at Blackjack and 440,000 ounces grading 0.50 g/t gold in an inferred category at Eiger. Both of these deposits are at/near 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). The Mineral Resource Estimate is presented in the following table:
Table 1: Current pit-constrained gold resources at the RC Gold Project*
| Deposit | Gold Cut-off (g/t Au) | Mineral Resource Category | Tonnes (000's) | Gold Grade (Au g/t) | Oz Au (000's) |
| Blackjack | 0.30 | Indicated | 39,962 | 1.01 | 1,291 |
| Blackjack | 0.30 | Inferred | 34,603 | 0.94 | 1,044 |
| Eiger | 0.25 | Inferred | 27,362 | 0.50 | 440 |
* For details of the resource estimate please see Company news release dated January 21, 2025.
To date, 72 diamond drill holes have been drilled into this system by the Company 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).
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 Florin Gold deposit with a current Inferred Mineral Resource of 170.99 million tonnes grading 0.45 g/t (2.47 million ounces; Simpson 2021)(4); the AurMac Project with an Inferred Mineral Resource of 347.49 million tonnes grading 0.63 gram per tonne gold (7.00 million ounces)(5) and the Valley Deposit, with a current Indicated Mineral Resource of 4.05 million oz gold at 1.66 g/t and an additional Inferred Mineral Resource of 3.26 million oz at 1.25 g/t gold(6).
- 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...
- 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...
- 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...
- Simpson R. Florin Gold Project NI 43-101 Technical Report. Geosim Services Inc. April 21, 2021. https://sedar.com/GetFile.do?lang=EN&docClass=24&i... d=4984158
- 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...
- Burrell H., Redmond D.J., Haggarty P., Rogue Gold Project: NI 43-101 Technical Report and Mineral Resource Estimate, Yukon Territory, Canada. Snowline Gold Corp. May 15, 2024. https://snowlinegold.com
Upcoming Events
Sitka Gold will be attending and/or presenting at the following events*:
- PDAC - Toronto, ON: March 2 - 5, 2025
- Swiss Mining Institute - Zurich, Switzerland: March 18 - 19, 2025
- 121 Mining Investment - London, England: May 12 - 13, 2025
- Canaccord Global Metals and Mining Conference - Henderson, NV: May 20 - 22, 2025
- Yukon Mining Alliance - Dawson City, Yukon: July 9 - 14, 2025
*All events are subject to change.
About Sitka Gold Corp.
Sitka Gold Corp. is a well-funded mineral exploration company headquartered in Canada with approximately $15 million in its treasury and no debt. 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.
*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 Cor Coe, P.Geo., Director and CEO 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.
