Sitka Adds Third Drill Rig to its RC Gold Project in Yukon
NEWS RELEASE
June 30, 2022
NR 22-20
www.sitkagoldcorp.com
Sitka Adds Third Drill Rig to its RC Gold Project in Yukon
VANCOUVER, CANADA – June 30, 2022: Sitka Gold Corp. (“Sitka” or the “Company”) (CSE:SIG)
(FSE:1RF) (OTCQB:SITKF) is pleased to announce that it has added a third diamond drill rig to
augment its ongoing diamond drill program at its road accessible, district -scale RC Gold
Project (“RC Gold” or the “Project”) located within the Yukon’s prolific Tombstone Gold Belt.
The Company’s primary focus is step out drilling at its newly discovered Blackjack zone where
diamond drill hole DDRCCC-21-021 (Discovery Hole or Hole 21) returned 220.1 metres of
1.17 g/t gold and four step out diamond drill holes completed during the 2022 winter drilling
program (DDRCCC-22-022 to DDRCCC-22-025) confirmed this gold mineralization is open in
all directions (see new releases dated April 26, May 16 and 17, June 13, 2022 and Table 1
below). A total of 12 holes have now been completed to date in this zone with a total meterage
of 4,170.7 metres.
“Since the commencement of this year’s diamond drilling program at RC Gold, drilling has
continued to deliver remarkable results demonstrating the continuity of gold-rich mineralization
at our newly discovered Blackjack zone (see Table 1 for results to date),” stated Cor Coe,
P.Geo., CEO and Director of Sitka. “Having a third diamond drill rig on site will add productivity
to our planned 10,000 metre drill program while giving us capacity to test multiple high-priority
targets at the same time. The focus of our fully-funded drill program at RC Gold this year is to
further define the Blackjack zone with a series of step-out holes designed to better understand
the parameters of the intrusion-related gold mineralization and ultimately gather sufficient data
to calculate a maiden resource estimate (see Figure 1).”
As drilling continues to expand the known size of the Blackjack zone, the potential of this area
is becoming quite clear, especially when you consider Victoria Gold is currently mining the
Eagle Gold deposit which had Measured and Indicated Resources prior to mining of 214 million
tonnes grade of 0.63 g/t gold (Au) estimated at a 0.15 g/t cut-off (4.397 million ounces; Goodwin
et al. 2019)(2). The Tombstone Gold Belt in the Dawson to Mayo area of Yukon is host to
several multi-million ounce gold deposits in addition to the Eagle Gold deposit and the gold
endowment of this district is beginning to be realized. The regional map of the RC Gold Project
(Figure 3) shows the proximity and gold endowment of our peers in this area and Sitka’s
commanding land position within this fertile gold district.
A pattern of step-out holes as shown in Figure 1 is planned to expand the zone east and
west along the interpreted strike and further define the extent of gold-rich mineralization
present in the Blackjack Zone. The goal of this phase of drilling is to gather sufficient data to
estimate an initial gold resource. Sitka now has three diamond drill rigs currently on site to
complete the planned 10,000 m diamond drill program.
Figure 1: Completed and Proposed Step-out Drilling at the Blackjack Zone
Table 1: Analytical Results for Previously Released Drill Holes at the Blackjack Zone
Hole ID
Azimuth (°) Dip (°) Length (m) From (m) To (m) Interval* (m) Au (g/t)
DDRCCC-21-021
320 -45 367.5 6.0 226.1 220.1 1.17
including 11.0 187.0 176.0 1.27
43.0 71.0 28.0 1.36
80.8 184.0 103.2 1.61
80.8 81.0 0.2 35.7
81.0 81.5 0.5 9.81
120.0 170.5 50.5 2.08
120.0 126.1 6.1 4.3
123.6 126.1 2.5 6.13
150.0 170.5 20.5 2.85
DDRCCC-22-022 320 -45 364.6 46.0 319.0 273.0 0.52
including 48.0 85.0 37.0 0.76
193.0 317.0 124.0 0.81
253.0 315.0 62.0 1.21
253.0 267.0 14.0 3.85
313.0 315.0 2.0 6.36
314.0 315.0 1.0 10.15
DDRCCC-22-023 320 -61.5 285.0 4.2 210 205.8 1.01
including 46.0 137.0 91.0 1.61
47.0 48.0 1.0 10.95
68.0 69.0 1.0 13.65
125.0 126.0 1.0 16.80
DDRCCC-22-024 277 -47 204 4.5 112.00 107.5 1.44
including 16.00 82.00 66.00 2.11
24.00 35.00 11.00 3.76
66.00 67.00 1.00 7.92
80.00 82.00 2.00 35.60
DDRCCC-22-025 320 -46 389.2 19 368 349 0.71
including 25.0 246.0 221.0 1.01
109.0 129.0 20.0 3.08
111 159 48.0 1.63
111.0 113.0 2.0 15.15
158.0 159.0 1.0 9.29
177.0 179.0 2.0 3.46
209.0 246.0 37.0 1.12
223.0 225.0 2.0 4.80
310.0 322.0 12.0 1.18
312.0 314.0 2.0 4.20
*Intervals are drilled core length, as insufficient drilling has been undertaken to determine true widths at this time
The 2022 winter portion of the drilling program was focused in the area of the Blackjack Zone
which was first intersected by Hole 21 (DDRCCC-21-021). The Blackjack Zone occurs within
the Saddle West Zone where the Blackjack Fault obliquely intersects an east-west trending
extensional corridor that is defined by abundant lamprophyre dykes and a large gold-in-soil
anomaly of >100 ppb and >500 ppb that covers an area of 2 kilometres by 500 metres between
the Saddle West, Blackjack, Saddle and Eiger Zones (Figure 2). This extensional corridor
controls the emplacement of the Saddle and Eiger intrusive stocks. The large gold -in-soil
anomaly is still open in all directions and drilling to date within this corridor has demonstrated
the potential for a continuous zone of gold mineralization.
Figure 2: The 2-kilometre extensional corridor is outlined by a >100 ppb and >500 ppb gold-
in-soil anomaly.
Figure 3: Regional Map of the RC Gold Project
About the RC Gold Project
The RC Gold Project consists of a 376 square kilometre contiguous district-scale land package located
in the newly road accessible Clear Creek, Big Creek, and Sprague Creek districts in the heart of Yukon's
Tombstone Gold Belt. It is the largest consolidated land package strategically positioned mid-way
between Victoria Gold's Eagle Gold Mine - Yukon’s newest gold mine which reached commercial
production in the summer of 2020 - and Sabre Gold Mine’s Brewery Creek Gold Mine. The RC Gold
Project land package comprises five underlying properties, namely, the RC, Bee Bop, Mahtin, Clear
Creek, and Barney Ridge properties*. The Company recently identified a large 500 m by 2000 m
intrusion related gold system on the Property at the Saddle Eiger zone and to date ha s drilled 23
diamond drill holes into this system. This has been the main focus of the Company’s drill programs at
RC Gold in 2020, 2021 and 2022 which have returned several significant gold intercepts. including the
discovery hole in the Blackjack zone in the last drill hole from the 2021 drill program, DDRCCC-21-021
(“Hole 21”). Hole 21 intersected 220.1 m of 1.17 g/t gold from surface that included 50.5 m of 2.08 g/t
gold. Hole 21 was the westernmost hole drilled in the Saddle-Eiger trend and was drilled under a
greater than 500 ppb gold-in-soil anomaly that was previously identified on surface. This gold-in-soil
anomaly is part of the larger 2 kilometre by 500 m gold-in-soil anomaly that stretches from the Saddle
Zone to the Eiger Zone and is open in all directions. Drilling in 2021 in the Eiger Zone in the easternmost
area of the gold-in-soil anomaly has produced numerous significant intersections as demonstrated by
Hole 9 which intersected 354 m of 0.41 g/t Au including 72 m of 0.72 g/t Au (see news release dated
August 19, 2021).
Sitka Gold inherited a wealth of historical and current data from these properties from work spanning
the last 40 years. Recent exploration work and the compilation of historical data have defined several
mineralized zones with both bulk tonnage, intrusion-related gold deposit targets and high-grade, vein-
and breccia-hosted gold targets. The RC Gold Project also has a common border with Victoria Gold’s
Clear Creek property at its western boundary and Florin Resources’ Florin Gold property at its northern
boundary.
*For more detailed information on the underlying properties please visit our website at www.sitkagoldcorp.com.
Deposit Model
Exploration on the Property has mainly focused on identifying an intrusion -related gold system
(“IRGS”). The property is part of 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 Proven and Probable Reserves of 155
million tonnes at a diluted grade of 0.65 g/t Au at the Eagle and Olive deposits (3.261 million ounces;
Goodwin et al. 2019)(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, located adjacent to Sitka’s RC Gold project, with a current Inferred Mineral Resource of 170.99
million tonnes grading 0.45 g/t (2.47 million ounces; Simpson 2021)(4) and the AurMac Project with an
Inferred Mineral Resource of 207.0 million tonnes grading 0.60 gram per tonne gold (3.99 millon
ounces; Jutras 2022)(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/2018/Fort-Knox-June-2018-Technical-Report.pdf
(2) Goodwin R, Gray P, Jutras M, Tang S, Wilbur S. Technical Report for the Eagle Gold Mine, Yukon Territory, Canada. JDS
Energy & Mining Inc. December 6, 2019.
https://vitgoldcorp.com/site/assets/files/6480/jds-vit-eagle-gold-ni-43-101-fs-report-20191206.pdf
(3) Hulse D, Emanuel C, Cook C. NI43-101 Technical Report on Mineral Resources. Gustavson Associates. May 31, 2020.
https://www.goldenpredator.com/_resources/Brewery-Creek_NI-43-101-05OCT2020-File.pdf
(4) Simpson R. Florin Gold Project NI43-101 Technical Report. Geosim Services Inc. April 21, 2021.
https://sedar.com/GetFile.do?lang=EN&docClass=24&issuerNo=00005795&issuerType=03&projectNo=03236138&docId=4984158