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Sitka Gold Reports more than 200 Meters of Gold Mineralization from Surface

Issuer: Goldinvest Consulting GmbH / Key word(s): Drilling Result/Miscellaneous
12.01.2023 / 08:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

The release of one of the final holes of the 2022 drill program was worth a trading halt for Sitka Gold Corp (CSE:SIG; FRA:1RF; OTCQB:SITKF): almost exactly one year after the December 2021 discovery of the Blackjack Zone at the RC Gold Project in the Yukon, Sitka today released one of its best results ever since drilling began. Step-out hole DDRCCC-22-040 intersected 201.0 m at 1.26 g/t Au from surface, including 82.0 m at 2.04 g/t Au from surface, including 19.5 m at 4.87 g/t Au from surface, including 2.0 m at 31.20 g/t Au from 16.0 m. The majority of drilling to date at RC Gold has been focused on establishing the spatial requirements necessary to estimate an initial resource.

Cor Coe, P.Geo., CEO and Director of Sitka, commented, "Step-out drilling in 2022 at RC Gold has been extremely rewarding for Sitka, with results from recent drill holes underpinning the enormous potential of the Blackjack Zone. DDRCCC-22-040 is one of the best holes we have drilled to date at RC Gold. Several other impressive intercepts, including 2 meters of 31.20 g/t gold were encountered throughout the hole, which also contained visible gold. Our winter and summer diamond drill programs over the past year have successfully demonstrated the continuity of strong and consistent gold mineralization throughout the Blackjack Zone, with the zone open in all directions. There is potential to connect gold mineralization over a distance of up to 2 kilometers in both the Saddle and Eiger Zones (see Figure 1). We are committed to aggressively increasing the potential tonnage."

Sitka again plans two-part winter-summer drilling program

The company announced a two-part winter and summer drilling program totaling 10,000 meters of diamond drilling in 2023. Drilling will be primarily focused in the Blackjack, Saddle and Eiger zones.

Conclusion: The latest set of drill holes released by Sitka Gold today provides strong confirmation that gold mineralization along the lead structure of the so-called "Blackjack Fault" is reliably returning higher grade results. The result will be used to define an initial resource, but it also provides geologists with important guidance for planning upcoming drill campaigns. Once again, Sitka will drill through the winter, something some of its competitors cannot do due to lack of infrastructure. The high speed at which Sitka is expanding its discovery is likely to be positively received by the market. At the end of the day, the vision is to connect the three previously isolated individual parts of Blackjack, Saddle and Eiger over a distance of two kilometers to form a potential multi-million ounce deposit. This idea should now slowly attract the attention of larger gold companies.

 

Disclaimer: GOLDINVEST Consulting GmbH publishes comments, analyses and news on https://goldinvest.de. This content exclusively serves the information of the readers and do not represent any kind of call to action;, neither explicitly nor implicitly are they to be understood as an assurance of possible price developments. Furthermore, they do not in any way replace individual expert investment advice and do not constitute an offer to sell the stock(s) discussed or a solicitation to buy or sell securities. This is expressly not a financial analysis, but an advertising / journalistic text. Readers who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. There is no contractual relationship between GOLDINVEST Consulting GmbH and its readers or the users of its offers, because our information refers only to the company, but not to the investment decision of the reader.

The acquisition of securities involves high risks, which can lead to a total loss of the invested capital. The information published by GOLDINVEST Consulting GmbH and its authors is based on careful research, however, any liability for financial loss or the content guarantee for timeliness, accuracy, adequacy and completeness of the articles offered here is expressly excluded. Please also note our terms of use.

Pursuant to §34b WpHG and §48f Abs. 5 BörseG (Austria) we would like to point out that GOLDINVEST Consulting GmbH and/or partners, principals or employees of GOLDINVEST Consulting GmbH hold shares of Sitka Gold and therefore a conflict of interest exists. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares of the company at any time which could affect the share price. Furthermore, GOLDINVEST Consulting GmbH is remunerated by Sitka Gold for reporting on the company. This is another clear conflict of interest.


Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language:

English

Company:

Goldinvest Consulting GmbH

Rothenbaumchausse 185

20149 Hamburg

Germany

Internet:

www.goldinvest.de

EQS News ID:

1533185


 

End of News

EQS News Service

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