Sitka Gold Reports up to 94% Gold Recovery from Initial Metallurgical Testing Conducted at the Blackjack and Eiger Zones at its RC Gold Project, Yukon
NEWS RELEASE
July 13, 2022
NR 22-23
www.sitkagoldcorp.com
Sitka Gold Reports up to 94% Gold Recovery from Initial
Metallurgical Testing Conducted at the Blackjack and Eiger
Zones at its RC Gold Project, Yukon
VANCOUVER, CANADA – July 13, 2022: Sitka Gold Corp. (“Sitka” or the “Company”) (CSE:SIG)
(FSE:1RF) (OTCQB:SITKF) is pleased to provide a summary of initial metallurgical bottle roll tests on
six samples from the Blackjack and Eiger zones at its RC Gold Project in the Yukon. This test work
was carried out by ALS Canada Ltd. Metallurgy Services in Kamloops, British Columbia.
Highlights:
● Gold recoveries demonstrate strong and rapid leach kinetics. Gold extraction was mostly
complete within 4-8 hours with minor increases to 24 hours.
● Ultimate extraction gold recoveries averaged 85% and were as high as 94%.
● The results of the bottle roll tests indicate that the gold is not refractory.
Cor Coe, P.Geo., CEO and Director of Sitka Gold states: “We are very pleased with these excellent
metallurgical test results that demonstrate that the gold mineralization from these two zones is not
refractory and has high gold recoveries with minimal NaCN consumption. This is significant as it
endorses the potential for an open-pit, heap leach operation with high gold recoveries and this is
typically the most economically efficient method of extracting gold from a deposit. We are rapidly
expanding the known mineralization at the Blackjack zone as we continue to aggressively step out from
our initial discovery hole.”
Metallurgical Test Work
Two representative samples were selected to test gold recoveries from the Eiger Zone and four
samples were selected from the Blackjack Zone. Each of the 6 samples consisted of 500 grams of drill
core primary crush material originally processed at ALS Global in Whitehorse. The samples were
dominantly from non-oxidized rock taken at downhole depths ranging from 80 m to 286 m. The samples
were also chosen to test gold recoveries for a range of gold grades varying from 0.92 g/t gold to as
high as 35.60 g/t gold.
The samples from the Eiger Zone were of fine-grained diorite with sheeted quartz veins containing
pyrite and arsenopyrite. Two of the samples from the Blackjack zone were of the megacrystic granite
unit containing sheeted quartz veins with pyrite and arsenopyrite, while two were of mixed
metasedimentary rock containing quartz veinlets with a minor amount of arsenopyrite.
The samples were shipped to ALS Metallurgy Services in Kamloops, BC where they were pulverized
to 170 microns. Cyanidation bottle roll leach tests were then completed on each pulverized sample over
a 48-hour period. Cyanide liquors were sampled at 2, 4, 8, 24 and 48 hours while the pH and NaCN
concentrations were maintained at 10.5 and 1 g/L, respectively. The liquors were assayed for gold.
Following completion of the tests, the cyanidation residues were assayed for gold in duplicate for
improved accuracy. The following table summarizes the results.
Table 1 - Summary of Metallurgical Bottle Roll Tests
2022 Drilling Program Update
The Company is currently aggressively drilling at RC Gold with its focus on further defining the gold
mineralization laterally and vertically from the 2021 discovery hole (Hole 21) that returned 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).
So far, 13 holes totaling 3,842 metres have been drilled this year at the Blackjack Zone. Nine holes
from the current drilling campaign have been logged, sampled and shipped for analysis to ALS Global
Labs in Whitehorse, Yukon.
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 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.
*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 ident ifying 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 gr am 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-
aurmac-property-yukon-canada/
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 metre diamond drill program at its RC Gold Project in
the Yukon. Drilling is also currently underway at the Company’s Alpha Gold Property in Nevada where
up to 1,500 metres of drilling is planned.
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 information 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.