Sitka Gold Commences 15,000 Metre Diamond Drilling Program at its Flagship RC Gold Project in Yukon
The key objectives of drilling this year will be to further expand and define the well endowed
"We are very excited to have the drill turning again at our flagship
Drill hole DDRCCC-24-057 is collared 80 m south of the current resource estimation outline and is being drilled at an azimuth of 60° and a dip of 60° to test the southeast continuity of gold mineralization southeast of hole DDRCCC-23-047, which intersected 219.0 m of 1.34 g/t Au from 190 m (see Figure 1). Hole 057 is projected to intersect the south Saddle Intrusion and associated gold mineralization with a step out of approximately 50 m to the southeast of hole 047.
About the
On
COG g/t Au |
|
|
|
|
Combined |
||||||
Tonnes |
Au g/t |
0z Au |
|
Tonnes |
Au g/t |
0z Au |
|
Tonnes |
Au g/t |
0z Au |
|
0.20 |
35,798 |
0.80 |
921 |
|
32,523 |
0.45 |
471 |
|
68,321 |
0.63 |
1,391 |
0.25 |
33,743 |
0.83 |
900 |
|
27,362 |
0.50 |
440 |
|
61,105 |
0.68 |
1,340 |
0.30 |
31,282 |
0.88 |
885 |
|
22,253 |
0.55 |
393 |
|
53,535 |
0.74 |
1,279 |
0.35 |
29,065 |
0.92 |
860 |
|
17,817 |
0.60 |
344 |
|
46,882 |
0.80 |
1,203 |
0.40 |
26,975 |
0.96 |
833 |
|
14,506 |
0.66 |
308 |
|
41,481 |
0.86 |
1,140 |
Table 1: RC Gold Inferred Mineral Resource Estimate
Notes |
1. Mineral resource estimate prepared by |
2023. Mineral Resources are classified using the 2014 CIM Definition Standards. |
2. The cut-off grade of 0.25 g/t Au is believed to provide a reasonable margin over operating and sustaining costs for open-pit |
mining and processing |
3. Mineral resources are constrained by an optimised pit shell using the following assumptions: |
pit slope; assumed metallurgical recovery of 85%; mining costs of |
tonne; G&A of |
4. Mineral resources are not mineral reserves and do not have demonstrated economic viability. |
5. Totals may not sum due to rounding. |
The Initial Mineral Resource Estimate of 1,340,000 ounces of gold at the
The Blackjack and
Several high priority intrusion related gold targets exist at RC Gold with nine outcropped intrusions identified to date over the 386 sq km property, however Sitka's main focus at the
(1) Simpson, R. |
*For more detailed information on the underlying properties please visit our website at www.sitkagoldcorp.com.
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
(1) Sims J. Fort Knox Mine Fairbanks North Star Borough, Alaska, USA National Instrument 43-101 Technical Report. |
(2) Harvey N., Gray P., Winterton J., Jutras M., Levy M.,Technical Report for the |
(3) Hulse D, Emanuel C, Cook |
https://www.goldenpredator.com/_resources/Brewery-Creek_NI-43-101-05OCT2020-File.pdf |
(4) Simpson R. Florin Gold Project NI 43-101 Technical Report. |
(5) Banyan Gold News Release Dated |
- Tombstone Gold Rush Breakfast - Fireside Chat -
Toronto, ON :March 5, 2024 - Invest Yukon Precious Metals Luncheon -
Toronto, ON :March 5, 2024 - PDAC,
Toronto, ON : March 3 - 6, 2024- Exhibitor Booth #2346:
March 3-6 - One-on-One Meeting Program:
March 4-5
- Exhibitor Booth #2346:
-
Swiss Mining Institute ,Zurich, Switzerland :March 20 - 21, 2024 - 121
Mining Investment ,London, England :May 16-17, 2024
*All events are subject to change.
The Company recently announced an NI 43-101 compliant initial inferred Mineral Resource Estimate of 1,340,000 ounces of gold(1) beginning at surface and grading 0.68 g/t at its
(1) Simpson, R. |
The scientific and technical content of this news release has been reviewed and approved by
ON BEHALF OF THE BOARD OF DIRECTORS OF
"
President and Director
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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 with respect to, among other things, the use of the proceeds raised under the Offering and the Company's anticipated work programs.
In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will complete its anticipated work programs and use the proceeds of the Offering as currently anticipated.
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, the results of the Company's anticipated work programs and that the Company will not use the proceeds of the Offering as currently anticipated.
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.
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