Sitka Gold’s Step Out Drilling Continues to Intercept Significant Intervals of Mineralization, Including Several Occurrences of Visible Gold, at its RC Gold Project in Yukon
NEWS RELEASE
July 20, 2022
NR 22-24
www.sitkagoldcorp.com
Sitka Gold’s Step Out Drilling Continues to Intercept Significant
Intervals of Mineralization, Including Several Occurrences of
Visible Gold, at its RC Gold Project in Yukon
VANCOUVER, CANADA – July 20, 2022: Sitka Gold Corp. (“Sitka” or the “Company”) (CSE:SIG)
(FSE:1RF) (OTCQB:SITKF) is pleased to provide an update on the ongoing diamond drilling program
at its RC Gold Project in Yukon. Since first phase drilling began in February, 2022, the Company has
completed approximately 4990 m of drilling in 16 holes focused on the Blackjack Zone (see Figure 1)
where drilling in 2021 intersected 220.1 metres of 1.17 g/t gold including 50.5 metres of 2.08 g/t
gold (See news release dated December 13, 2021). Four subsequent drill holes completed during the
winter of 2022 confirmed this impressive gold discovery, including the last drill hole announced, hole
DDRCCC-22-025 (Hole 25), a step out drill hole 80 metres to the east, that returned 349.0 metres of
0.71 g/t of gold drilled from near surface, including 221.0 metres of 1.01 g/t gold and 2.0 metres of
15.15 g/t gold (see news release dated June 13, 2022 and Figure 1). Samples from 12 holes of the
current second phase of drilling, which began June 1st, have been sent to ALS Global Laboratories
preparation facility in Whitehorse, Yukon.
Drilling by the Company since 2020 has demonstrated that better grade gold mineralization at the
Blackjack Zone is hosted in sheeted quartz sulphide veins and veinlets in megacrystic granite and
quartz feldspar porphyry dykes and sills and in proximal intruded metasedimentary rocks. Associated
sulphide minerals are pyrrhotite, arsenopyrite, chalcopyrite and bismuthinite . Recent preliminary
metallurgical work has returned gold recoveries of up to 94% and demonstrated that the gold is not
refractory and is potentially amenable to open-pit, heap leach extraction methods.
All drill holes completed to date in the current phase of drilling have intersected significant intervals of
mineralized quartz veining in the intrusive and meta-sedimentary hosts rocks. Visible gold has also
been identified in several locations as summarized in table below:
Table 1: Occurrences of Gold Observed in Drill Core at the Blackjack Zone
Figure 1: Plan Map of Drill Holes at the Blackjack Zone
Drill Hole Total Length of Hole (m)Depth of Occurrence (m) Style of Occurrence
DDRCCC 22-031 356 150 quartz vein in metasediment
DDRCCC 22-035 244 123 quartz vein in quartz monzonite
DDRCCC 22-036 405 70 quartz vein in quartz monzonite
DDRCCC 22-036 405 293 quartz vein in feldspar porphyry
DDRCCC 22-037 305 222 quartz vein in metasediment
DDRCCC 22-037 305 223 quartz vein in metasediment
Figure 2: Visible Gold in Hole DDRCCC-22-031 at 150 m (1000 um = 1 mm)
Figure 3: Drill Core from Hole DDRCCC-22-031 Showing Location of Visible Gold at 150 m.
Figure 4: Visible Gold in Hole DDRCCC-22-035 at 123 m (1000 um = 1 mm)
Figure 5: Drill Core from Hole DDRCCC-22-035 Showing Location of Visible Gold at 123 m
Figure 6: Visible Gold in Hole DDRCCC-22-036 at 70 m (1000 um = 1 mm)
Figure 7: Drill Core from Hole DDRCCC-22-036 Showing Location of Visible Gold at 70 m
Figure 8: Visible Gold in Hole DDRCCC-22-036 at 283 m (1000 um = 1 mm)
Figure 9: Drill Core from Hole DDRCCC-22-036 Showing Location of Visible Gold at 283 m
Figure 10: Visible Gold in Hole DDRCCC-22-037 at 223 m (1000 um = 1 mm)
Figure 11: Drill Core from Hole DDRCCC-22-037 Showing Location of Visible Gold at 222 m and
223 m
Cor Coe, P.Geo., Director and CEO of Sitka Gold remarked, “We are very encouraged by the persistent
mineralization and several occurrences of visible gold being observed as we continue to step out both
laterally and vertically in all directions from discovery Hole 21 at the Blackjack Zone. Given what is
being observed in the drill core, we expect the assay results from this phase of drilling to date will
continue to expand on the known gold mineralization in this area and increase the parameters of what
appears to be very significant intrusion related gold occurrence. With an access road that is usable
year-round and proximity to additional infrastructure such as the highway and powerlines, the RC Gold
Project is in an ideal location for future development.”
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 m id-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 has identified a large 500 m by 2000 m intrusion
related gold system on the Property spanning the Blackjack, Saddle and Eiger zones and to date has
drilled 34 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 Blackjack Zone, through 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.