Sitka Continues Drill Program at RC Gold, Yukon and Appoints Dr. Craig Hart to Advisory Board
NEWS RELEASE
June 09, 2022
NR 22-17
www.sitkagoldcorp.com
Sitka Continues Drill Program at RC Gold, Yukon and Appoints
Dr. Craig Hart to Advisory Board
VANCOUVER,
CANADA
–
June
09,
2022:
Sitka
Gold
Corp.
(“Sitka”
or
the
“Company”)
(CSE:SIG)
(FSE:1RF)
(OTCQB:SITKF)
is
pleased
to
announce
that
it
has
recommenced
the
previously
announced
10,000
metre
(m)
diamond
drilling
program
(see
news
release
dated
January
6,
2022)
at
its
RC
Gold
Project
(“RC
Gold”
or
“the
Project”)
located
in
the
prolific
Tombstone
Gold
Belt
(TGB)
in
the
Yukon
(see
Figure
2).
Sitka
successfully
completed
four
drill holes for a total of 1242.8 m during the winter portion of the Project.
“Sitka
is
excited
to
resume
drilling
on
the
most
recent
discovery
of
potentially
economic
intrusion-related
gold
mineralization
within
the
Yukon
portion
of
the
TGB.
The
widths
and
grades
encountered
in
drilling
at
our
Blackjack
zone
are
very
significant
when
compared
to
our
peers
Victoria
Gold
and
Banyan
Gold
who
are
mining
and/or
exploring
their
deposits
within
the
TGB.
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)
.
Banyan
Gold
recently
announced
an
combined
Inferred
Mineral
Resource
at
the
Airstrip,
Powerline
and
Aurex
Hill
deposits
on
their
AurMac
Project
of
207.0
million
tonnes
grading
0.60
gram
per
tonne
Au
at
an
estimated
cut-off
grade
of
0.2
to
0.3
g/t
(3.99
millon
ounces;
Jutras
2022)
(5)
,
stated Cor Coe, P.Geo., CEO and Director of Sitka.
”
The
company
plans
on
expanding
the
Blackjack
zone
which
was
discovered
with
the
final
hole
of
the
2021
drill
season
(DDRCCC-21-021
or
“Hole
21”)
and
was
the
focus
of
the
2022
winter drilling campaign (Holes 22 to 25).
Recent Blackjack Zone Drilling Highlights:
●
Hole 21 (DDRCCC-21-021)
220 metres (m) of 1.17 g/t Au from surface including,
50.5 m of 2.08 g/t gold
●
Hole 22 (DDRCCC-22-022)
273 m of 0.52 g/t Au from 46 m to 319 m including,
62 m of 1.21g/t Au
●
Hole 23 (DDRCCC-22-023)
205.8 m of 1.01 g/t Au from surface including,
91.0 m of 1.61 g/t Au
●
Hole 24 (DDRCCC-22-024)
107.5 m of 1.44 g/t Au from 4.5 m to 112.0 m including,
66.0 m of 2.11 g/t Au.
Hole
25,
which
is
still
pending,
stepped
out
approximately
80
m
to
the
east
of
Hole
21
and
was
drilled
at
the
same
orientation
and
dip.
This
drill
hole
encountered
similar
geology
to
the
previous
drill
holes
with
visible
gold
observed
in
the
drill
core.
A
pattern
of
step-out
holes
as
shown
in
Figure
1
is
planned
to
expand
the
zone
which
is
open
in
all
directions
and
further
define
the
extent
of
gold
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
has
employed
two
drill
rigs
that
are
currently
on
site
to
complete
the
planned
10,000
m
diamond
drill
program.
Figure 1: Proposed Step-out Drilling at the Blackjack Zone
Figure 2: 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
has
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
last
drill
hole
from
the
2021
drill
program,
DDRCCC-21-021
(“Hole
21”)
that
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,
located
in
the
Saddle
West
Zone,
was
drilled
under
a
greater
than
500
ppb
gold-in-soil
anomaly
that
was
previously
identified
on
surface
and
is
part
of
the
larger
2
kilometre
by
500
m
gold-in-soil
anomaly
that
stretches
from
the
Saddle
West
Zone
to
the
Eiger
Zone
and
is
open
in
all
directions.
This
drill
hole
was
collared
200
m
south
of
any
previous
drilling
conducted
and
intersected
a
newly
recognized
controlling
structure
to
mineralization
known
as
the
Blackjack
Fault
(see
news
release
dated
December
13,
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
(5
)
Banyan Gold News Release Dated May 17, 2022
(Technical Report to be filed within 45 days of news release)
https://www.banyangold.com/news-releases/2022/banyan-announces-4-million-ounce-gold-mineral-resource-estimate-for-the-aurma
c-property-yukon-canada/
Appointment of Dr. Craig Hart to Board of Advisors
Sitka
is
pleased
to
announce
the
appointment
of
Dr.
Craig
Hart
as
a
Technical
Advisor
to
the
company.
Craig
is
an
internationally
recognized
geoscientist
who
played
a
pivotal
role
in
the
development
of
intrusion-related
gold
systems,
such
as
those
that
form
gold
at
Sitka's
RC
Gold
Project.
He
was
most
recently
the
Director
and
an
Associate
Professor
at
the
MDRU-Mineral
Deposit
Research
Geologist
at
The
University
of
British
Columbia.
Craig
was
also
a
founding
geologist
with
the
Yukon
Geological
Survey
and
contributed
15
years
as
a
mapping
and
mineral
deposit
geologist
and
has
an
outstanding
understanding
of
Yukon
geology
and
mineral
deposits.
He
has
a
PhD
from
the University of Western Australia and has contributed to the publication of >150 scientific papers.
"I
look
forward
to
working
with
the
Sitka
team
and
contributing
to
their
exploration
success,”
commented
Craig
Hart.
“In
particular,
I
know
the
geology
and
mineralization
of
Sitka's
RC
Gold
Project and can help to build an increased understanding of the mineralizing system."
“We
are
very
happy
to
welcome
Craig
back
to
the
Clear
Creek
area
where
he
first
began
his
involvement
in
researching
Intrusion
hosted
gold
deposits
in
1998
with
a
series
of
papers
published
in
the
Yukon
Exploration
and
Geology
annual
publication,”
stated
Mike
Burke,
VP
Corporate
Development.
“Craig’s
research
has
driven
the
understanding
of
these
deposits
and
we
know
he
is
looking
forward
to
getting
his
hands
and
boots
dirty
to
help
unlock
the
potential
at
the
RC
Gold
project.”
The
Company
also
announces
that
it
has
granted
an
aggregate
of
400,000
incentive
stock
options
(the
“Options”)
to
Mr.
Hart.
The
Options
are
exercisable
at
$0.13
per
share
for
a
period
of
three
years
from
the
date
of
grant,
vest
quarterly
every
six
months,
and
are
subject
to
the
policies
of
the
Canadian
Securities Exchange.
Upcoming Events
Sitka Gold will be attending the following events:
●
PDAC 2022 - Toronto, Ontario: June 13
th
- 15
th
, 2022
○
Booth #2346
●
Invest Yukon Conference, Dawson City, Yukon: June 21
st
- 23
rd
, 2022
About Sitka Gold Corp.
Sitka
Gold
Corp.
is
a
well-funded
mineral
exploration
company
headquartered
in
Canada.
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
currently
has
an
option
to
acquire
a
100%
interest
in
the
RC,
Barney
Ridge,
Clear
Creek
and
OGI
properties
in
the
Yukon
and
the
Burro
Creek
Gold
property
in
Arizona.
Sitka
owns
a
100%
interest
in
its
Alpha
Gold
property
in
Nevada,
its
Mahtin
Gold
property
in
the
Yukon
and
its Coppermine River project in Nunavut.
Sitka
is
currently
conducting
a
planned
10,000
m
diamond
drill
program
at
its
RC
Gold
Project
in
the
Yukon.
A
drill
rig
and
contractor
has
also
been
secured
to
complete
up
to
5,000
feet
of
drilling
its
Alpha Gold Property in Nevada where drilling is anticipated to begin in Q2 of 2022.
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
or
Cor Coe
CEO & Director
604-817-4753
Cautionary and Forward-Looking Statements
This
news
release
contains
forward
‐
looking
statements
and
forward
‐
looking
information
within
the
meaning
of
applicable
securities
laws.
These
statements
relate
to
future
events
or
future
performance.
All
statements
other
than
statements
of
historical
fact
may
be
forward
‐
looking
statements
or
information.
Forward
‐
looking
statements
and
information
are
often,
but
not
always,
identified
by
the
use
of
words
such
as
“appear”,
“seek”,
“anticipate”,
“plan”,
“continue”,
“estimate”,
“approximate”,
“expect”,
“may”,
“will”,
“project”,
“predict”,
“potential”,
“targeting”,
“intend”,
“could”,
“might”, “should”, “believe”, “would” and similar expressions.
Forward-looking
statements
and
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are
provided
for
the
purpose
of
providing
information
about
the
current
expectations
and
plans
of
management
of
the
Company
relating
to
the
future.
Readers
are
cautioned
that
reliance
on
such
statements
and
information
may
not
be
appropriate
for
other
purposes,
such
as
making
investment
decisions.
Since
forward
‐
looking
statements
and
information
address
future
events
and
conditions,
by
their
very
nature
they
involve
inherent
risks
and
uncertainties.
Actual
results
could
differ
materially
from
those
currently
anticipated
due
to
a
number
of
factors
and
risks.
These
include,
but
are
not
limited
to,
the
expected
timing
and
terms
of
the
private
placement,
use
of
proceeds,
anticipated
work
program,
required
approvals
in
connection
with
the
work
program
and
the
ability
to
obtain
such
approvals.
Accordingly,
readers
should
not
place
undue
reliance
on
the
forward
‐
looking
statements,
timelines
and
information
contained
in
this
news
release.
Readers are cautioned that the foregoing list of factors is not exhaustive.
The
forward
‐
looking
statements
and
information
contained
in
this
news
release
are
made
as
of
the
date
of
this
news
release
and
no
undertaking
is
given
to
update
publicly
or
revise
any
forward
‐
looking
statements
or
information,
whether
as
a
result
of
new
information,
future
events
or
otherwise,
unless
so
required
by
applicable
securities
laws
or
the
CSE.
The
forward-looking
statements
or
information
contained in this news release are expressly qualified by this cautionary statement.
Neither
the
CSE
nor
its
Regulation
Services
Provider
(as
that
term
is
defined
in
the
policies
of
the
CSE)
accepts
responsibility
for
the
adequacy
or
accuracy
of
this
release.
No
stock
exchange,
securities
commission
or
other
regulatory
authority
has
approved
or
disapproved
the
information
contained herein.