
April 22, 2025
Sitka Gold Corp. (TSXV: SIG) (FSE: 1RF) (OTCQB: SITKF) ("Sitka" or the "Company") is pleased to announce recently received assay results from its ongoing 2025 diamond drilling campaign at its road accessible RC Gold Project ("RC Gold" or the "Project") located approximately 100 km east of Dawson City in Yukon's prolific Tombstone Gold Belt. Results from DDRCCC-25-075 ("Hole 75") returned 352.8 metres of 1.55 g/t gold, including 108.9 metres of 3.27 g/t gold and 45.0 metres of 4.52 g/t gold. Hole 75, which had over 130 instances of visible gold observed during logging of the drill core, was the first of two diamond drill holes completed at RC Gold during this year's winter drilling campaign. DDRCCC-25-076 ("Hole 76"), the second drill hole completed this winter, was drilled to a depth of 810.8 metres, the deepest hole ever drilled at Blackjack, for a total of 1,526.8 metres of diamond drilling completed during the winter drilling campaign. Assays are currently pending for Hole 76 where over 60 instances of visible gold were observed (see Figures 1 and 7).
- DDRCC-25-075 ("Hole 75") delivers best high-grade intercept drilled to date at Blackjack with 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
- Hole 75 is the first diamond drill hole to be completed as part of a fully funded 30,000 m drilling program planned at RC Gold for 2025
- Results from Hole 75 extend the high-grade gold zone discovered late last year in Hole 68
- Assay results from Hole 75 showcase the persistence and continuity of this higher-grade gold zone (see Table 3) with grades that appear to be increasing with depth
- These results further endorse a potential underground mining scenario below Blackjack's existing pit-constrained mineral resources of 1.29 Moz grading 1.01 g/t gold indicated and 1.04 Moz grading 0.94 g/t gold inferred
- Assays are currently pending for DDRCCC-25-076 ("Hole 76") which was drilled to a hole depth of 810.8 m, the deepest hole drilled to date at Blackjack, and had over 60 instances of visible gold observed in the drill core (see Figures 1 and 7).
Table 1: Highlights from most recent assay results
Hole ID | From (m) | To (m) | Interval (m)* | Gold (g/t) |
DDRCCC-25-075 | 341.5 | 694.3 | 352.8 | 1.55 |
including | 501.4 | 610.3 | 108.9 | 3.27 |
including | 501.4 | 513.0 | 11.6 | 4.44 |
and | 539.4 | 584.4 | 45.0 | 4.52 |
*Intervals are drilled core length as insufficient drilling has been completed at this time to calculate true widths.
"2025 is off to an excellent start with the first drill hole of the year producing some of the best gold intercepts encountered to date at our RC Gold project," commented Cor Coe, Director and CEO of Sitka Gold. "Initial observations of Hole 75, including numerous instances of visible gold, indicated that we had drilled through an area of strong gold mineralization and this has now been confirmed by these assay results. Hole 75 continues to highlight the quality of the gold system present at the Blackjack deposit while greatly expanding the higher-grade gold zone discovered at depth late last year in Hole 68 which remains open both laterally and to depth. The increasing gold values we are seeing at depth appear to have the grades and continuity required for a possible underground extraction scenario below the current pit constrained resources at Blackjack and suggest that we could be getting closer to the source of the Blackjack gold deposit as we drill deeper into the system.
"These results build on our previous success at Blackjack and show that we have really just started to unlock the potential of this large, contiguous 431 square kilometre gold district where 11 intrusions have been identified on surface to date, all of which have associated intrusion related gold mineralization present and are considered high-priority targets for future exploration. The fact that we have been able to produce a pit-constrained mineral resource estimate of 1.3 million ounces of indicated gold at 1.01 g/t gold and 1.0 million ounces of inferred gold at 0.94 g/t gold at the Blackjack deposit with just 18,799 metres of drilling underscores the potential of the additional 30,000 metres of drilling planned at RC Gold for this year. We are now waiting on the results from hole 76, which again produced multiple instances of visible gold and extended the vertical depth of mineralization at the Blackjack zone to over 700 metres from surface, being the deepest drill hole completed to date at the RC Gold project. 2025 is shaping up as an exciting and pivotal year for Sitka as we push to continue creating shareholder value by rapidly advancing our flagship RC Gold project."
Figure 1: Cross Section for holes DDRCCC-25-075 and DDRCCC-25-076. Hole 75 is approximately a 70 metre step-out from Hole 68 which intersected 93.0 m of 2.57 g/t gold near the bottom of the hole.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/249328_bf622703d4b8c841_002full.jpg
Figure 2: Plan map of drilling at the Blackjack Deposit showing the location of holes DDRCCC-25-075 (this release), -076 as well as DDRCCC-24-068.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/249328_bf622703d4b8c841_003full.jpg
Figure 3: The Clear Creek Intrusive Complex in the western portion of the RC Gold Project is a cluster of intrusions all with known gold mineralization and numerous current drill target areas highlighted by the magenta hatched areas.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/249328_bf622703d4b8c841_004full.jpg
Figure 4: Longitudinal section of completed drill holes at the Blackjack Zone. Higher-grade mineralization is defined in a southeast plunging mineralized corridor with gold grades increasing at depth, as observed with the increasing prevalence of higher-grade gold results in recently completed drill core (purple colour), and suggests that drilling is vectoring towards the source of this gold system. The pit-constrained mineral resource shell from the 2023 MRE is shown in orange with the added resources from the updated MRE published earlier this year shown in yellow (see news release dated February 26, 2025).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/249328_bf622703d4b8c841_005full.jpg
Figure 5: Examples of drill core from the interval beginning at 539.4 m which contains 45.0 m of 4.52 g/t gold that shows strongly altered and variably textured quartz monzonite. Pink flagging tape marks veins where occurrences of visible gold were noted by Sitka's geological crew.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/249328_bf622703d4b8c841_006full.jpg
Figure 6: Examples of instances of visible gold observed throughout hole DDRCCC-25-075. Visible gold is found in sheeted quartz veins and is often associated with bismuthinite, scheelite, and arsenopyrite. Additional images of visible gold observed in Hole 75 can be viewed HERE.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/249328_bf622703d4b8c841_007full.jpg
Table 2 - Summary of significant drill hole assays from this release
Hole ID | From (m) | To (m) | Length (m) | Gold (g/t) |
DDRCCC-25-075 | 116.3 | 123.0 | 6.7 | 2.21 |
including | 116.3 | 117.3 | 1.0 | 12.05 |
and | 341.5 | 694.3 | 352.8 | 1.55 |
including | 469.5 | 470.5 | 1.0 | 8.22 |
including | 407.0 | 694.3 | 287.3 | 1.80 |
including | 486.5 | 487.6 | 1.1 | 7.99 |
including | 409.5 | 694.3 | 284.8 | 1.82 |
including | 409.5 | 610.3 | 200.7 | 2.35 |
including | 501.4 | 610.3 | 108.9 | 3.27 |
including | 501.4 | 513.0 | 11.6 | 4.44 |
including | 504.4 | 505.4 | 1.0 | 8.73 |
including | 539.4 | 584.4 | 45.0 | 4.52 |
including | 556.4 | 558.0 | 1.6 | 9.71 |
including | 648.9 | 694.3 | 45.4 | 0.92 |
*Intervals are drilled core length as insufficient drilling has been completed at this time to calculate true widths.
DDRCCC-25-075
Drill hole DDRCCC-25-075 was drilled to a length of 715.97 metres at an azimuth of 037o and a dip of -65o to step out from the high-grade mineralization that returned 93.0 metres of 2.57 g/t gold starting at 589.5 metres in Hole 68 last year and extended gold mineralization at depth approximately 70 metres to the northeast of Hole 68. This drill hole intersected several broad zones of feldspar megacrystic, quartz monzonite cross cutting hornfels biotite schist of the Yuzesyu Formation. These intrusions, and locally the metasediments, are cut by abundant 1-2 centimetre sheeted quartz veins with centimetre scale quartz sericite alteration halos. A significant zone of strongly altered, variable textured quartz monzonite was intersected from ~350 m to 620 metres. Over 130 instances of visible gold were observed in sheeted quartz veins, often associated with bismuthinite, scheelite, and arsenopyrite throughout the interval, consistent with observations of mineral associations in all previous drilling.
Table 3 - Individual assay intervals for the composite 45 metres of 4.52 g/t gold in Hole 75 which demonstrate the continuous and persistent high-grade gold mineralization at depth
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/249328_bf622703d4b8c841_008full.jpg
Figure 7: Examples of instances of visible gold observed throughout hole DDRCCC-25-076. Visible gold is found in sheeted quartz veins and is often associated with bismuthinite, scheelite, and arsenopyrite. Additional images of visible gold observed in Hole 76 can be viewed HERE.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/249328_sitkafig7.jpg
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
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 that are contained in two zones: the Blackjack and Eiger gold deposits with 1,291,000 ounces of gold grading 1.01 g/t gold in an indicated category and 1,044,000 ounces of gold grading 0.94 g/t gold in an inferred category at Blackjack and 440,000 ounces of gold 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, 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).
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 gold (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 gold 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 gold (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 gold and an additional Inferred Mineral Resource of 3.26 million oz at 1.25 g/t gold(6). The technical and scientific information disclosed from neighboring properties does not necessarily apply to the current project or property being disclosed.
(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) 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
(5) 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...
(6) 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*:
- 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
- Takestock Stampede - Calgary, AB: July 2, 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 over $25 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 Gilles Dessureau, P.Geo., Vice President of 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.
SIG:CA
The Conversation (0)
14h
Germany, Italy Face Pressure to Repatriate US$245 Billion in Gold as Trust in US Custody Wavers
Germany and Italy are facing mounting domestic pressure to repatriate more than a third of their gold reserves — worth an estimated US$245 billion — currently held in New York by the US Federal Reserve.
Germany and Italy hold the world’s second and third largest gold reserves, trailing only the US. A substantial portion of this metal is stored overseas, primarily in Manhattan’s Federal Reserve Bank.
This longstanding arrangement, based largely on postwar financial realities and New York’s role as a major global gold-trading hub, is now being questioned by officials and commentators across Europe’s political spectrum.
Fabio De Masi, a former member of European Parliament now affiliated with Germany’s new left-wing populist BSW party, told the Financial Times there are “strong arguments” to bring more of Germany’s bullion back home.
Taxpayers Association of Europe (TAE) President Michael Jäger echoed the same sentiments last month: "Trump wants to control the Fed, which would also mean controlling the German gold reserves in the US," he told Reuters.
"It's our money, it should be brought back."
Similar calls are being echoed in Italy, where economic commentator Enrico Grazzini recently warned that “leaving 43 per cent of Italy’s gold reserves in America under the unreliable Trump administration is very dangerous for the national interest." He was writing in Il Fatto Quotidiano ahead of Prime Minister Giorgia Meloni’s visit to Washington.
Fueling this renewed concern are statements made by US President Donald Trump, who earlier this month warned that he may have to “force something” if the US Federal Reserve does not lower interest rates.
Trump has also made direct appeals to the Department of Energy to stimulate oil production, signaling what critics interpret as increasing politicization of independent institutions like the Fed.
The TAE has urged both Germany and Italy to reconsider their reliance on the Fed. “We are very concerned about Trump tampering with the Federal Reserve Bank’s independence,” Jäger said. “Our recommendation is to bring the (German and Italian) gold home to ensure European central banks have unlimited control over it at any given point in time.”
Public skepticism over the safety of foreign gold holdings is not new.
In Germany, a grassroots movement that began in 2010 eventually prompted the Bundesbank to repatriate 674 metric tons of gold from New York and Paris between 2013 and 2017. The operation, which cost 7 million euros, resulted in half of Germany’s reserves being stored domestically by 2020. Nevertheless, 37 percent of its gold remains in the US.
Meloni’s Brothers of Italy party once echoed similar sentiments while in opposition, pledging in 2019 to bring Italy’s gold back home. But since assuming power in 2022, Meloni has largely gone silent on the issue.
Skepticism about US stewardship is not limited to political rhetoric.
According to the World Gold Council's latest survey on central bank gold reserves, 43 percent of the central banks surveyed plan to increase their gold holdings in the coming year — a record high.
The overwhelming majority of respondents (95 percent) expect global central bank gold reserves to keep rising, citing gold’s performance during crises, its inflation-hedging capabilities and its role as a diversifier. Notably, 59 percent of central banks surveyed reported holding at least part of their gold reserves domestically, up from 41 percent in 2024.
Although the Bank of England remains the most popular vaulting location, the World Gold Council's survey reveals growing caution over US custodianship: only 7 percent of respondents said they planned to increase domestic storage last year, but the figure jumped significantly in 2025.
New bill calls for US gold audit
Adding another layer of complexity is the push in Washington for greater transparency about America’s gold reserves. House Bill 3795, introduced by Representative Thomas Massie and backed by three co-sponsors, calls for the first comprehensive audit of US gold holdings in over six decades.
The bill would mandate a full inventory and assay of gold stored at Fort Knox, West Point and the Denver Mint, as well as a forensic accounting of all transactions involving US gold over the last 50 years.
“There are a lot of legitimate questions surrounding America’s gold holdings,” said Jp Cortez, executive director of the Sound Money Defense League, in a recent interview with the Investing News Network. He added:
“The question as to who actually owns the bars outright is really the most crucial question. And if it is shown that America does not actually own the gold, if the gold is there, but America does not own it, (or) if it has been pledged or leased or swapped or otherwise encumbered in any way … this would be a huge, huge detriment to the US and the global economy.”
Cortez emphasized that prior audits of US gold reserves have been insufficient.
“These aren't audits that have been done on the metal itself, but rather the storage containers that the metal is supposedly stored in," he said. “Owners or operators of a depository who functioned like this would go to jail.”
He also pointed out that much of the gold held by the US government is impure by modern market standards, having been melted down from older coinage. That means even if the bars are there, refinement questions will remain.
While Trump has not explicitly endorsed HB 3795, he has expressed interest in the issue, stating, "We're actually going to Fort Knox to see if the gold is there. Because maybe somebody stole the gold. Tons of gold."
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Keep reading...Show less
14h
Chris Temple: Gold, Uranium the Best Stories Now; Plus Silver Outlook
Chris Temple, founder, editor and publisher of the National Investor, discusses the factors moving gold and the gold stock gains still to come.
Temple also shares his outlook for uranium and silver.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Keep reading...Show less
15h
LaFleur Minerals Targets 2026 Production with Funded Drilling and Mill Restart Planning Underway
LaFleur Minerals (CSE:LFLR,OTCQB:LFLRF,FWB:3WK0) CEO Paul Ténière has outlined his company’s plans to complete at least 5,000 meters of diamond drilling at the Swanson gold project while planning for the restart of its 100 percent owned Beacon gold mill in Val-d'Or, Québec.
“We had the idea of looking at the Swanson project, in general, more on a district scale. And so as a result of all the work we've done, including recent IP surveys, we've generated several drilling targets,” Ténière said.
One of the goals of the drill program is to increase the resource, he added.
“(Drilling) will be focused on not just the Swanson deposit itself, but also on other targets … And our aim for that is to actually increase our existing resource to a million ounces.”
The chief executive also shared the financing strategy for the restart of the Beacon mill.
“We're getting a lot of (funding) interest,” Ténière said. “They do see a great opportunity with Beacon as there’s not a lot of mills that are available at the moment in the Abitibi.”
LaFleur is anticipating the Beacon mill restart will cost between C$5 million and C$6 million to complete all the necessary repairs and maintenance at the site. The company expects the mill will be in full production by early 2026.
Watch the full interview with LaFleur Minerals CEO Paul Ténière above.
Keep reading...Show less
16h
NevGold
Investor Insight
With a sharp focus on discovery and resource growth, NevGold presents a compelling investment opportunity as an undervalued gold and critical metals explorer with projects in Nevada and Idaho—two of the world’s top mining jurisdictions.
Overview
NevGold (TSXV:NAU,OTCQX:NAUFF,FSE:5E50) is focused on discovering and growing a multi-million-ounce gold-equivalent resource base across Nevada and Idaho in the US. With a lean market capitalization of under C$50 million and a pipeline of highly prospective oxide and porphyry assets, the company is positioned for a significant valuation re-rate over the next 12 to 18 months as it executes on its resource growth and de-risking strategy.
The company is rapidly advancing toward its goal of defining a 5 Moz+ gold-equivalent resource base by Q4 2025, anchored by its flagship Limo Butte project – one of North America’s rare oxide gold-antimony systems – and its gold resource at Nutmeg Mountain, along with early-stage copper potential at Zeus.
The Limo Butte project is a high-grade oxide gold-antimony system in Nevada with strong analogues to Carlin-style mineralization and excellent near-surface drill results. Nutmeg Mountain in Idaho is an advanced-stage, heap-leach gold project with 1.3 Moz in defined resources and favorable metallurgy. Zeus, an early-stage copper project staked in 2023, provides blue-sky porphyry exploration potential in a district that has already attracted major interest, including a C$30 million investment by Barrick Gold in a neighboring property.
NevGold is actively executing on drill programs, metallurgical studies, and resource updates across all three projects, fully funded through its recent capital raise. The company is well positioned to benefit from rising gold and copper prices, increasing strategic demand for antimony, and a growing appetite among major mining companies for high-quality, undervalued juniors – all under the leadership of a proven team with deep expertise in mine development and M&A.
Company Highlights
- Multi-million-ounce Target: NevGold is on track to define 5+ Moz gold equivalent in combined resources at Limo Butte and Nutmeg Mountain by Q4 2025.
- Gold+Antimony Critical Metals Advantage: Limo Butte is emerging as a significant near-surface oxide gold-antimony system – one of only two of its kind in the United States.
- Substantial Resource Base: Nutmeg Mountain contains a 2023 NI 43-101 compliant oxide gold resource of 1.28 Moz (indicated + inferred), with strong exploration upside and favorable heap-leach characteristics.
- District-scale Copper Exposure: Zeus offers early-stage copper-gold-molybdenum potential in a highly active porphyry belt, adjacent to a Barrick-backed discovery.
- Strategic Location, Strategic Commodities: All projects are located in mining-friendly jurisdictions with excellent infrastructure, low geopolitical risk, and growing US demand for domestic gold and critical mineral supply.
- Fully Funded Growth: Recent C$6 million financing supports 2025 drill campaigns, metallurgical testwork, and updated NI 43-101 estimates across the portfolio.
- Tight Capital Structure & Strong Support: Backed by strategic shareholders including GoldMining and McEwen Mining.
- Significant Valuation Gap: Trading at a fraction of peers such as Perpetua Resources (~C$1.7 billion), despite similar resource and jurisdictional advantages.
Key Projects
Limo Butte Project
The Limo Butte Project is NevGold’s cornerstone development asset, located in eastern Nevada within a prolific Carlin-style geological setting. The project encompasses 1,724 hectares consisting of 210 unpatented claims, 12 patented claims and private land leases. Historically explored in the 2000s, a 2009 non-43-101-compliant resource estimate outlined 241 koz of gold in the measured and indicated category (0.78 g/t gold) and 51 koz in the inferred category (0.70 g/t gold).
In 2025, NevGold re-assayed approximately 50 legacy drillholes and completed more than 5,000 meters of new RC drilling across the Resurrection Ridge and Cadillac Valley zones, revealing a substantial near-surface gold-antimony mineralized footprint.
Notably, recent drill intercepts returned thick oxide intervals, including:
- 1.11 g/t gold and 0.30 percent antimony (2.46 g/t gold equivalent) over 86.9 m, including 1.83 g/t gold and 0.87 percent antimony (5.75 g/t gold equivalent) over 12.8 m
- 2.26 g/t gold and 0.32 percent antimony (3.69 g/t gold equivalent) over 22.3 m
- 1.20 g/t gold and 0.64 percent antimony (4.07 g/t gold equivalent) over 54.9 m
These results confirm strong grade continuity and a positive spatial correlation between gold and antimony mineralization. Importantly, historical assays had a detection limit of 1 percent antimony, meaning actual antimony content in several zones is likely underreported.
Mineralization begins within 20 meters of surface, supporting low-strip, open-pit mining scenarios.
Metallurgical test work is underway, evaluating flowsheet options for gold and antimony recovery. A conceptual flowsheet includes gravity concentration, flotation and leaching stages to produce marketable gold and antimony products, including potential for antimony metal recovery via roasting.
NevGold aims to complete a maiden NI 43-101 compliant gold-antimony resource estimate by Q4 2025, setting the foundation for future economic studies.
Nutmeg Mountain Project
Nutmeg Mountain is an advanced oxide gold project located 80 km northwest of Boise, Idaho. The project benefits from exceptional infrastructure, road access and proximity to water and power. NevGold’s 2023 NI 43-101-compliant mineral resource estimate defined 1.01 Moz of gold in the indicated category (51.7 Mt @ 0.61 g/t gold) and 275 koz inferred (17.9 Mt @ 0.48 g/t gold), using a 0.30 g/t cut-off.
Mineralization starts at surface and exhibits strong lateral and vertical continuity. The deposit is hosted in volcanic and sedimentary units, with mineralization controlled by both lithological and structural features. The pit-constrained resource has a strip ratio of less than 1:1, highlighting the project’s potential for low-cost, bulk tonnage heap leach development. Additional drilling has confirmed the presence of higher-grade core zones (1 to 2 g/t gold), as well as potential feeder structures below the 2023 pit shell.
Current work comprises approximately 2,500 meters of RC drilling, metallurgical test work and an updated MRE planned for late 2025. Exploration targets include untested lateral extensions and high-grade feeder structures at depth. Nutmeg Mountain compares favorably to peer heap-leach projects across the Western US in terms of grade and strip ratio. It offers near-term development optionality in a mining-friendly jurisdiction and is a key contributor to NevGold’s goal of surpassing 5 Moz in gold-equivalent resources.
Zeus Copper Project
Zeus is an early-stage copper-gold-molybdenum exploration asset located on the Hercules Copper Trend in western Idaho. The project spans 29 sq km and shares similar geologic features with Hercules Metals’ Hercules Project (TSXV:BIG), which received a C$30 million strategic investment from Barrick Gold in 2023.Zeus sits at the structural intersection of the Olds Ferry and Izee terranes, and hosts Triassic to Jurassic intrusives associated with porphyry-style mineralization. Geological mapping and surface sampling have revealed two priority targets:
- Poseidon: 2.4+ km copper-gold-molybdenum soil anomaly with coincident structural and rock chip indicators
- Thorn Springs: 1+ km copper-gold-molybdenum soil anomaly with interpreted intrusive-hosted alteration
Soil surveys were completed in early 2025, and geophysical work is ongoing to refine drill targeting. Initial drilling is anticipated by late 2025. With no prior modern exploration, Zeus offers blue-sky potential for a significant copper discovery in a highly prospective but underexplored belt. Zeus enhances NevGold’s exposure to critical minerals and provides optionality in the copper sector – particularly relevant given tightening global copper supply and increasing US strategic interest in domestic copper sources.
Management Team
Brandon Bonifacio – President, CEO and Director
Brandon Bonifacio is a mining executive with over a decade of experience in project development and M&A. Previously served as finance director of the Norte Abierto JV (Cerro Casale/Caspiche) for Goldcorp (now Newmont), and a senior member of Goldcorp’s Corporate Development group. He holds an MASc in mining engineering and MBA from the University of Nevada, Reno.
Greg French – VP Exploration and Director
Greg French is a professional geologist with over 35 years of exploration and development experience in the US and Canada. He has held leadership roles in Nevada Copper, Homestake and Atlas Precious Metals, and has guided multiple projects through feasibility and into production.
Bob McKnight – EVP, CFO and Corporate Development
Bob Knight is a professional engineer with an MBA and more than 40 years of mining experience. He was involved in over $1.5 billion in debt, equity and M&A deals. Knight brings strategic and financial depth to NevGold’s growth trajectory.
Keep reading...Show less
19h
Ausgold Signs Earn-in Agreement for Critica's Kulin Gold Project
Critica (ASX:CRI,OTC Pink:VTMLF) and Ausgold (ASX:AUC,OTC Pink:AUSGF) said on Monday (June 23) that they have entered into a farm-in agreement for Critica's Kulin gold project in Western Australia.
Ausgold has the right to earn up to a 70 percent interest in Kulin over three years for a total of AU$610,000.
Critica will retain a 30 percent contributing interest in Kulin once the earn in is complete, alongside the right to convert to a 1.5 percent net smelter royalty when a decision to mine is made.
AU$250,000 will be paid by Ausgold within 18 months to earn a 51 percent stake, while the remaining AU$360,000 will be paid over the following 24 months to earn an additional 19 percent.
In addition to gold, Kulin reportedly holds nickel, copper and platinum-group metals.
The project is located approximately 230 kilometres east-southeast of Perth in Western Australia. It also sits approximately 75 kilometres northeast of Ausgold’s fully owned Katanning gold project.
In its own announcement about the news, Ausgold said the agreement with Critica represents a strategic step in expanding the company's regional footprint across the east of the Katanning greenstone belt.
“This new tenement complements our strong regional landholding surrounding our flagship Katanning Gold Project, which includes the Kulin Project as well as other advanced exploration prospects,” said Executive Chairman John Dorward, adding that the move also plays into the firm's regional production hub strategy.
For its part, Critica said the agreement forms part of its plan to hone its focus on is flagship Jupiter rare earths project, which is part of the broader Brothers project. A December 2024 maiden resource estimate for Jupiter outlines a global resource of 1.8 billion tonnes at 1,700 parts per million total rare earth oxide.
Ausgold will lodge the required program of work at Kulin in the first quarter of 2026. It will target high-priority gold-in-soil and trenching anomalies to unlock the project’s discovery potential.
Drilling at Kulin is planned to commence in the second to third quarter of 2026.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
Keep reading...Show less
21h
Lahontan Begins Metallurgical Test Work at Santa Fe
Lahontan Gold Corp. (TSXV:LG)(OTCQB:LGCXF)(FSE:Y2F) (the "Company" or "Lahontan") is pleased to announce that the Company has commenced metallurgical test work on gold and silver mineralization from the transition metallurgical domain (mixed minor sulfide and oxide mineralization) in the Santa Fe deposit. Lahontan is focusing on dramatically improving CN leach gold recoveries for transition material from the 49% recovery utilized in the recent Preliminary Economic Assessment ("PEA") of the Santa Fe Mine project*, unlocking the full potential of transition domain mineralization. Similtaneously, the Company is evaluating methodologies to more accurately define the boundaries between the different metallurgical domains within the Santa Fe deposit. These steps have the potential to profoundly impact project economics and significantly expand the gold and silver production profile from that reported in the PEA. The metallurgical testing will include column leach tests; results are expected later this year.
Kimberly Ann, Lahontan Gold Corp CEO, Executive Chair, and Founder commented: "We are excited to begin this new program of metallurgical testing on the Santa Fe deposit. A significant portion of the minable gold ounces at Santa Fe lie in the transition metallurgical domain, therefore improved gold and silver recoveries will have an immediate and important impact on project economics. New heap leaching methods, including reagents, have shown dramatic increases in recoveries from transition material; we intend to find out if these new processing methods can work at Santa Fe. In addition, once assay results are received from the recent drilling at Slab, we will begin additional test work on the bulk rejects, looking for ways to optimize gold and silver recoveries at Slab as well".
About Lahontan Gold Corp.
Lahontan Gold Corp. is a Canadian mine development and mineral exploration company that holds, through its US subsidiaries, four top-tier gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan's flagship property, the 26.4 km2 Santa Fe Mine project, had past production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing. The Santa Fe Mine has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq(48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag, together grading 0.99 g/t Au Eq) and an Inferred Mineral Resource of 411,000 oz Au Eq (16,760,000 grading 0.74 g/t Au and 3.25 g/t Ag, together grading 0.76 g/t Au Eq), all pit constrained (Au Eq is inclusive of recovery, please see Santa Fe Project Technical Report and note below*). The Company plans to continue advancing the Santa Fe Mine project towards production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025. The technical content of this news release and the Company's technical disclosure has been reviewed and approved by Michael Lindholm, CPG, Independent Consulting Geologist to Lahontan Gold Corp., who is a Qualified Person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mr. Lindholm was not an author for the Technical Report* and does not take responsibility for the resource calculation but can confirm that the grade and ounces in this press release are the same as those given in the Technical Report. For more information, please visit our website: www.lahontangoldcorp.com
* Please see the "Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project", Authors: Kenji Umeno, P. Eng., Thomas Dyer, PE, Kyle Murphy, PE, Trevor Rabb, P. Geo, Darcy Baker, PhD, P. Geo., and John M. Young, SME-RM; Effective Date: December 10, 2024, Report Date: January 24, 2025. The Technical Report is available on the Company's website and SEDAR+. Mineral resources are reported using a cut-off grade of 0.15 g/t AuEq for oxide resources and 0.60 g/t AuEq for non-oxide resources. AuEq for the purpose of cut-off grade and reporting the Mineral Resources is based on the following assumptions gold price of US$1,950/oz gold, silver price of US$23.50/oz silver, and oxide gold recoveries ranging from 28% to 79%, oxide silver recoveries ranging from 8% to 30%, and non-oxide gold and silver recoveries of 71%.
On behalf of the Board of Directors
Kimberly Ann
Founder, CEO, President, and Executive Chair
FOR FURTHER INFORMATION, PLEASE CONTACT:
Lahontan Gold Corp.
Kimberly Ann
Founder, Chief Executive Officer, President, and Executive Chair
Phone: 1-530-414-4400
Email: Kimberly.ann@lahontangoldcorp.com
Website: www.lahontangoldcorp.com
Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange("TSXV") 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. Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedarplus.com
Click here to connect with Lahontan Gold (TSXV:LG,OTCQB:LGCXF) to receive an Investor Presentation
Keep reading...Show less
Latest News
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00