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(TSXV: SIG) (FSE: 1RF) (OTCQB: SITKF) ("Sitka" or the "Company") is pleased to announce that multiple instances of visible gold have been observed in the first drill holes of the summer field season its flagship RC Gold Project located in the Tombstone Gold Belt, Yukon. Three drills are currently operating and a fourth drill rig is on site as part of a fully-funded 30,000 metre drill program planned for 2025 at RC Gold. The primary focus of this year's diamond drilling campaign will be to rapidly expand the Blackjack and Eiger gold deposits while advancing several other high-priority gold targets within the Clear Creek Intrusive Complex (see Figures 4 and 5).
- Three diamond drills currently operating and a fourth diamond drill rig on site as part of the fully funded 30,000 metre drilling campaign planned at RC Gold this year, more than doubling the amount of drilling completed by Sitka Gold since work was initiated in 2020
- Additional visible gold observed in Hole 76 after it was re-entered and extended from 810.8 m to 944.9 m, the deepest hole ever drilled at Blackjack
- Visible gold observed in all drill holes completed so far this year
- Drilling is currently focused on expanding the Blackjack and Eiger deposits and exploring the Saddle zone where a linkage between the two deposits is suggested by geological observations and the largest and strongest gold-in-soil anomaly at the RC Gold Project (see Figures 3 and 4)
Several instances of visible gold have been observed in the drill core from DDRCCC-25-076 to 080, which are the first holes to be completed this summer season, with DDRCCC-25-078 and 079 producing the first visible gold ever observed at Eiger (see Figures 1). Assays are currently pending for all drill holes in this release.
"The summer field season at RC Gold is off to a strong start, with three drill rigs already turning and a fourth rig recently mobilized to site," said Cor Coe, Director and CEO of Sitka. "The presence of visible gold in the first holes of the season, including the first-ever observations of visible gold at the Eiger deposit expansion drilling, continue to demonstrate the exceptional gold endowment within the Clear Creek Intrusive Complex. This is the first follow up drilling we have conducted at the Eiger deposit since 2021 and the observations of visible gold in these initial step out holes to the west, towards the Saddle zone and Blackjack deposit, are very encouraging.
"The fully funded, 30,000 metre drill campaign planned for this year will more than double the total drilling completed since we initiated drilling in 2020, marking a major step forward in advancing RC Gold. To date, we've successfully discovered two gold deposits and outlined multiple high-priority targets ready for drill advancement. With this year's planned drilling equivalent to the past five years combined, there will be lots to look forward to as our team pushes to build on that success with additional new discoveries and meaningful expansion of our known deposits, both of which remain open in all directions."
Figure 1: Examples of instances of visible gold observed throughout holes DDRCCC-25-076 to DDRCCC-25-080. Holes 76, 77 and 80 are from the Blackjack and holes 78 and 79 from the Eiger. Note that the red colour is not a mineral but red marker used in core logging. Additional images of visible gold observed in these drill holes can be viewed HERE.
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Figure 2: Plan map of the Blackjack and Eiger gold deposits showing the location of diamond drill holes DDRCCC-25-076 to -081. Three drill rigs are focused on resource expansion at the Blackjack and Eiger deposits and the first follow-up drilling in the Saddle zone where the largest and strongest gold-in-soil anomaly on the property remains largely undrilled and where DDRCCC-23-054 intersected 84.0 m of 1.21 g/t gold (see news release dated October 30, 2023). Lamprophyre dikes (green lines) define extensional zones including the Blackjack-Saddle-Eiger corridor. Extensional corridors are one of the controls that created pathways for gold-bearing fluids in these mineralized systems.
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Figure 3: Plan map of the Blackjack and Eiger gold deposits showing gold-in-soil values, the location of diamond drill holes DDRCCC-25-076 to DDRCCC-25-081. Three drill rigs are focused on resource expansion at the Blackjack and Eiger deposits and the first follow-up drilling in the Saddle zone where the largest and strongest gold-in-soil anomaly on the property remains largely undrilled and where DDRCCC-23-054 intersected 84.0 m of 1.21 g/t gold (see news release dated October 30, 2023).
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Figure 4: 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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Figure 5: 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.
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Blackjack Drilling
Drilling at Blackjack continues to be directed at expanding the deposit, testing both the deeper underground and the near surface potential where the deposit remains open in all directions. Drill hole DDRCCC-25-076 (azimuth of 037° and dip of -75°) was extended to a depth of 944.9 m, the longest hole completed on the property to date. Visible gold was observed at 859.2 m down the hole within quartz veining in altered metasedimentary rocks. DDRCCC-25-080 (azimuth of 040o and dip of -55o) tested shallower extensions of mineralization and encountered visible gold in several locations from approximately 107 to 220 m depth.
Eiger Drilling
Drill holes DDRCCC-25-078 (azimuth of 345o and dip of -50o) and 079 (azimuth of 345o and dip of -55o) are the first holes completed on the Eiger deposit expansion program. The Eiger deposit has not been drilled since its discovery in 2021. These first two holes were drilled to expand the deposit to the west. Hole 78 encountered strongly altered metasediments with quartz veining and visible gold before being terminated in a fault zone prior to intersecting the Eiger intrusion. Hole 79 was drilled from the same set-up at a steeper angle and successfully penetrated the fault zone which was the faulted contact with the Eiger intrusion. Visible gold was encountered in Hole 79 within sheeted quartz veining within the metasediments and the Eiger intrusion.
Saddle Drilling
Drill hole DDRCCC-25-081 (azimuth of 025o and dip of -50o) is the first drill hole collared in the Saddle zone since the most recent drilling completed in 2023 which intersected 84.0 m of 1.21 g/t gold in Hole 54 and 29.0 m of 0.68 g/t gold in Hole 53. The Saddle zone is midway between the Blackjack and Eiger deposits and is defined by the largest and highest grade gold-in-soil anomaly on the property within an extensional zone containing lamprophyre and quartz monzonite intrusives dikes and sills. Drilling in 2025 is targeted to follow-up on previous drilling and define an initial resource in this area which is within the conceptual pit limits of the Blackjack deposit and explore the linkage between the two deposits. This drill hole collared in metasediments and is planned to a depth of 350.0 m.
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 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).
To date, 73 diamond drill holes have been drilled into this system by the Company for a total of approximately 25,851 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.
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-...
Corporate Update
The Company is pleased to announce that, subject to regulatory approval, it has entered into an amendment agreement for the OGI Property, Yukon. The targets at OGI are an intrusion-related gold deposit such as the Valley, RC Gold and Aurmarc deposits in Yukon and Fort Knox in Alaska and also a SEDEX style, stratabound Zinc-Lead-Silver (Zn-Pb-Ag) deposit, similar to Howards Pass and many other zinc-rich base and precious metal occurrences within Yukon's Selwyn Basin. In consideration for 300,000 shares and $50,000, the required $2,500,000 work expenditures will be eliminated. The Company has spent approximately $550,000 to date on the OGI Property. This amendment will give the Company 100% ownership of the OGI Property, subject to the underlying royalty interest.
The Company is also pleased to announce that, subject to regulatory approval, it has entered into an amendment agreement for the Burro Creek Property, Arizona. The Burro Creek Property covers a low-sulphidation epithermal vein system that hosts gold and silver Indicated and Inferred Historical Mineral Resource estimates. In consideration for 2,000,000 shares and $100,000, the required $4,000,000 work expenditures will be eliminated. The Company has spent approximately $1,200,000 to date on the Burro Creek Property and has a 1,000,000 share payment due in September 2025. This amendment will give the Company 100% ownership of the Burro Creek Property, subject to the underlying royalty interest. This amendment agreement is considered a related-party transaction pursuant to Multilateral Instrument 61-101, as the Vendor is controlled by Cor Coe, the chief executive officer and a director of the Company. This amendment agreement is exempt from the need to obtain minority shareholder approval and a formal valuation as required by and under applicable provisions of MI 61-101.
For more information on the OGI and Burro Creek properties, please visit www.sitkagoldcorp.com
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 with over $24 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, 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 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.
SIG:CA
