Sitka Prepares FOR Winter Diamond Drilling Program at Its Rc GOLD Project, Yukon
NEWS RELEASE
February 4, 2025
NR 25-03
www.sitkagoldcorp.com
SITKA PREPARES FOR WINTER DIAMOND DRILLING
PROGRAM AT ITS RC GOLD PROJECT, YUKON
VANCOUVER, CANADA – February 4, 2025: Sitka Gold Corp. (“Sitka” or the “Company”)
(TSX-V:SIG) (FSE:1RF) (OTCQB:SITKF) is pleased to announce that preparations are
currently underway for a winter diamond drilling program scheduled to begin this month at
its flagship RC Gold Project (“RC Gold” or the “Project”), located in the prolific Tombstone
Gold Belt in Yukon. The winter drilling campaign will mark the start of a fully funded 30,000
metre diamond drilling program planned for RC Gold this year.
The Company recently announced an updated mineral resource estimate (“MRE”) at RC
Gold of 1.3 million ounces of gold indicated and 1.5 million ounces of gold inferred
(see news release dated January 21, 2025 and Table 1). The MRE includes updated gold
resource estimates at its 100% owned Blackjack deposit comprised of an indicated
resource of 1.29 million ounces at a grade of 1.01 g/t gold and an inferred resource of
1.04 million ounces at a grade of 0.94 g/t gold using a 0.30 g/t gold cut-off grade. The
primary focus of drilling this year will be to continue upgrading and expanding the Blackjack
deposit, which remains open in all directions, and further test gold mineralization within the
Clear Creek Intrusive Complex (CCIC), including at the Eiger Deposit, which also remains
open in all directions, and at the Saddle, Rhosgobel, Contact and Pukelman targets (see
Figures 1 and 2). In late 2024, the Company completed the first ever diamond drill holes at
Rhosgobel which significantly increased the depth of known gold mineralization at the target
area with gold mineralization now extending from surface to a depth of at least 300 metres.
Two holes were completed and returned multiple observations of visible gold and
impressive intervals of strong gold mineralization with assays of up to 119.0 m of 1.05 g/t
gold including 37.9 m of 2.05 g/t gold and 11.5 m of 4.32 g/t gold (see news release
dated November 25, 2024).
“We are very excited to begin preparations for our 2025 diamond drilling program at RC
Gold where we plan to get a significant jump on this year’s drilling season with a winter
drilling program”, stated Cor Coe, Director and CEO of Sitka. “Since 2022, and with limited
drilling, we have taken RC Gold from an initial discovery hole to a very impressive gold
resource that has the potential to grow considerably. With 30,000 metres of drilling planned
for 2025, which is more than double the total amount of drilling that we have completed to
date at the Project, we are on track to rapidly advance RC Gold this year with significant
expansion drilling at the Blackjack and Eiger deposits as well as follow up drilling at the
other intrusion-related gold targets within the Clear Creek Intrusive Complex, including the
Rhosgobel and Pukelman intrusions where drilling last year confirmed robust gold
mineralization is present similar to that observed at the Blackjack deposit.”
Figure 1 - Plan map showing the multiple high-priority target areas within the Clear
Creek Intrusive Complex. 30,000 metres of drilling is planned in this area for 2025
with a proposed allocation of approximately 15,000 metres across the Blackjack Eiger target area, 10,000 metres at Rhosgobel - Bear Paw and 5,000 metres at
Pukelman.
Figure 2 - Long Section showing target areas from the Blackjack deposit to the
Rhosgobel target and the proposed drilling allocated as part of the 30,000 metre
diamond drilling program planned for 2025.
About the flagship RC Gold Project
The RC Gold Project consists of a 431 square kilometre contiguous district-scale land package
located in the heart of Yukon's Tombstone Gold Belt. The project is located approximately 100
kilometres east of Dawson City, which has a 5,000 foot paved runway, and is accessed via a
secondary gravel road from the Klondike Highway which is usable year-round and is an
approximate 2 hour drive from Dawson City. It is the largest consolidated land package
strategically positioned mid-way between the Eagle Gold Mine and the past producing Brewery
Creek Gold Mine.
The RC Gold Project now has pit-constrained mineral resources prepared in accordance
with National Instrument 43-101 (“NI 43-101”) guidelines that are contained in two zones: the
Blackjack and Eiger deposits with 1,291,000 ounces of gold grading 1.01 g/t gold in an
indicated category and 1,044,000 grading 0.94 g/t in an inferred category at Blackjack
and 440,000 ounces grading 0.50 g/t gold in an inferred category at Eiger. Both of these
deposits are at/near surface, are potentially open pit minable and amenable to heap leaching,
with initial bottle roll tests indicating that the gold is not refractory and has high gold recoveries
of up to 94% with minimal NaCN consumption (see News Release July 13, 2022). The Mineral
Resource Estimate is presented in the following table:
Table 1: Current pit-constrained gold resources at the RC Gold Project*
Deposit
Gold Cut-off Mineral Resource
Tonnes (000's)
(g/t Au)
Category
Gold Grade
(Au g/t)
Oz Au
(000's)
Blackjack
0.30
Indicated
39,962
1.01
1,291
Blackjack
0.30
Inferred
34,603
0.94
1,044
Eiger
0.25
Inferred
27,362
0.50
440
* For details of the resource estimate please see Company news release dated January 21, 2025.
To date, 72 diamond drill holes have been drilled into this system by the Company for a total of
approximately 25,136 metres. Other targets drilled to date include the Saddle, Josephine,
Rhosgobel and Pukelman zones. The resource expansion drilling in 2023 at Blackjack produced
results of up to 219.0 m of 1.34 g/t gold Including 124.8 m of 2.01 g/t gold and 55.0 m of 3.11
g/t gold in drill hole DDRCCC-23-047 (see news release dated September 26, 2023) and in
2024 results of up to 678.1 metres of 1.04 g/t gold starting from surface in DDRCCC-24-068,
Including 409.5 metres of 1.36 g/t gold, 93.0 metres of 2.57 g/t gold and 5.5 metres of 17.59
g/t gold (see news release dated October 21, 2024).
RC Gold Deposit Model
Exploration on the Property has mainly focused on identifying an intrusion-related gold system
(“IRGS”). The property is within 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
Measured and Indicated Resources of 233 million tonnes at a grade of 0.57 g/t Au at the Eagle
Main Zone (4.303 million ounces; Harvey et al, 2022)(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 with a current Inferred Mineral Resource of
170.99 million tonnes grading 0.45 g/t (2.47 million ounces; Simpson 2021)(4); the AurMac
Project with an Inferred Mineral Resource of 347.49 million tonnes grading 0.63 gram per tonne
gold (7.00 million ounces)(5) and the Valley Deposit, with a current Indicated Mineral Resource of
4.05 million oz gold at 1.66 g/t and an additional Inferred Mineral Resource of 3.26 million oz at
1.25 g/t gold(6).
(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) Harvey N., Gray P., Winterton J., Jutras M., Levy M.,Technical Report for the Eagle Gold Mine, Yukon Territory, Canada. Victoria Gold Corp.
December 31, 2022. https://vgcx.com/site/assets/files/6534/vgcx_-_2023_eagle_mine_technical_report_final.pdf
(3) Hulse D, Emanuel C, Cook C. NI 43-101 Technical Report on Mineral Resources. Gustavson Associates. May 31, 2020.
https://minedocs.com/22/Brewery-Creek-PEA-01182022.pdf
(4) Simpson R. Florin Gold Project NI 43-101 Technical Report. Geosim Services Inc. April 21, 2021.
https://sedar.com/GetFile.do?lang=EN&docClass=24&issuerNo=00005795&issuerType=03&projectNo=03236138&docI d=4984158
(5) Thornton T., Jutras M., Malhotra D. Technical Report Aurmac Property Mayo Mining District, Yukon Territory, Canada. JDS Energy and Mining Inc.
February 6, 2024. https://banyangold.com/site/assets/files/5251/banyan_gold_ni_43-101_technical_report_2024_03_18.pdf
(6) Burrell H., Redmond D.J., Haggarty P., Rogue Gold Project: NI 43-101 Technical Report and Mineral Resource Estimate, Yukon Territory, Canada.
Snowline Gold Corp. May 15, 2024. https://snowlinegold.com
Upcoming Events
Sitka Gold will be attending and/or presenting at the following events*:
● PDAC - Toronto, ON: March 2 - 5, 2025
● Swiss Mining Institute - Zurich, Switzerland: March 18 - 19, 2025
● 121 Mining Investment - London, England: May 12 - 13, 2025
● Canaccord Global Metals and Mining Conference - Henderson, NV: May 20 - 22, 2025
● Yukon Mining Alliance - Dawson City, Yukon: July 9 - 14, 2025
*All events are subject to change.
About Sitka Gold Corp.
Sitka Gold Corp. is a well-funded mineral exploration company headquartered in Canada with
approximately $15 million in its treasury and no debt. 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
is currently advancing its 100% owned, 431 square kilometre flagship RC Gold Project located
within the Tombstone Gold Belt in the Yukon Territory. The Company is also advancing the
Alpha Gold Project in Nevada and currently has drill permits for its Burro Creek Gold and Silver
Project in Arizona and the Coppermine River Project in Nunavut.
*For more detailed information on the Company’s properties please visit our website at
www.sitkagoldcorp.com
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
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Cautionary and Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking
information within the meaning of applicable Canadian securities laws. Forward-looking
statements relate to future events or future performance and reflect the expectations or beliefs
of management of the Company regarding future events. Generally, forward-looking statements
and information can be identified by the use of forward-looking terminology such as “intends” or
“anticipates”, or variations of such words and phrases or statements that certain actions, events
or results “may”, “could”, “should”, “would” or “occur”. This information and these statements,
referred to herein as “forward‐looking statements”, are not historical facts, are made as of the
date of this news release and include without limitation, statements regarding discussions of
future plans, estimates and forecasts and statements as to management’s expectations and
intentions and the Company’s anticipated work programs.
These forward‐looking statements involve numerous risks and uncertainties and actual results
might differ materially from results suggested in any forward-looking statements. These risks
and uncertainties include, among other things, market uncertainty and the results of the
Company’s anticipated work programs.
Although management of the Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in forward-looking statements or
forward-looking information, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such statements will prove
to be accurate, as actual results and future events could differ materially from those anticipated
in such statements. Accordingly, readers should not place undue reliance on forward-looking
statements and forward-looking information. Readers are cautioned that reliance on such
information may not be appropriate for other purposes. The Company does not undertake to
update any forward-looking statement, forward-looking information or financial out-look that are
incorporated by reference herein, except in accordance with applicable securities laws. We seek
safe harbor.