Sitka Gold (CSE: SIG; US-OTC: SITKF) says hole DDRCCC-23-46 in the Blackjack deposit at its RC gold project has intersected 108 grams gold per tonne over 1.2 metres, including a bonanza assay of a 38.2-metre interval that graded 4.15 grams gold.
This was the highest-grade intercept to date. The RC project is a district-scale landholding in the heart of the Tombstone Gold Belt in Yukon. The Blackjack deposit contains approximately 921,000 oz. of gold in 35.8 million inferred tonnes averaging 0.83 grams gold.
“Grades of this nature are quite exceptional for a reduced intrusion-related gold system and, along with several other high-grade drill intercepts and outcrop rock samples received to date, appear to indicate that there is a high-grade component to the gold system present at the Clear Creek intrusive complex,” said Sitka director and CEO Car Coe.
“Hole 46 confirms that persistent gold mineralization continues to the east of the current resource boundary and highlights the potential for mineralization to extend at least 550 metres through to the Saddle zone where limited previous test drilling has returned some very encouraging numbers, such as 18.8 metres of 1.34 g/t gold,” he added.
The initial inferred resource estimate for RC includes its Blackjack and Eiger deposits. Together they total 61.1 million tonnes grading 0.68 grams gold for 1.3 million ounces.
The two deposits are close to highway and power infrastructure and are road accessible year-round. They remain open in all directions, located within a 500-metre by 5-km intrusion-related gold system that was recently discovered on the property.
Sitka shares were down 5.8% to 16¢ apiece on Tuesday morning in Toronto, valuing the company at $35.5 million. Its shares traded in a 52-week window of 9¢ and 22¢.
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