The Company is currently diamond drilling at RC Gold in conjunction with a planned 15,000 metre drilling program for 2024.
'The accumulation of data from several years of systematic exploration by previous operators on the newly acquired Clear Creek Property has generated several high-quality exploration targets,' said
The newly consolidated Project includes four high-priority areas that have had previous reverse circulation and/or diamond drilling that require additional drilling. These areas are the Rhosgobel intrusion where historical drilling intersected up to 1.03 g/t gold over 67.1 m , the Contact zone with drill results up to 20.3 g/t gold over 10.7 m , the Bear Paw Breccia which intersected up to 1.87 g/t gold over 42.6 m and the Pukelman intrusion with results of 1.20 g/t gold over 10.0 m . The first target area to be tested is the Rhosgobel Intrusion where shallow historical drilling in 1995 by Kennecott outlined a large area of intrusion related gold mineralization. Previous drilling at Rhosgobel was limited to a vertical depth of approximately 60 metres. The gold mineralization observed at Rhosgobel is sheeted quartz veins hosted in a megacrystic quartz monzonite similar to the Blackjack deposit located 5 km to the north along the recently discovered Blackjack Mineralized Corridor. The first drill hole will be a step out to drill underneath the mineralized zone intersected in Holes 15 and 16 in shallow reverse circulation drilling. This will be the first diamond drill hole ever drilled in the Rhosgobel intrusion. Geological interpretation of a steeply dipping mineralized zone is consistent with controls on mineralization observed elsewhere on the property.
The Company has recently engaged GroundTruth Exploration to conduct grid based soil sampling in an area south of the Blackjack deposit where prospecting in 2015 identified a highly prospective area. The G2 zone was prospected in 2015 and 13 surface float samples were collected with a range of trace to 43.4 g/t gold within mineralized intrusive and metasedimentary rocks. Three other samples returned values of 5.9, 7.2 and 13.6 g/t gold . This area is located approximately 2 km south of the Blackjack gold deposit area, within the Blackjack Mineralized Corridor in proximity to the West Pukelman intrusion. Previous reconnaissance scale soil sampling encountered anomalous gold in soil in the area. The G2 zone is located approximately 1 km west of the Pukelman West intrusion within an extensional corridor containing both the Pukelman and Pukelman West intrusions and several previously reported lamprophyre dykes. The Pukelman West intrusion is located approximately 1.5 km south of the Blackjack deposit where recent drilling has intersected higher-grade mineralization associated with the N-S trending Blackjack fault. The intersection of these structural zones is interpreted by Sitka to be highly prospective for the discovery of additional gold mineralization.
Prospecting in 2015 also focused on the Contact zone located at the southern margin of the Pukelman intrusion. Nineteen samples were collected ranging from trace to 166.2 g/t gold . Seven additional samples of mainly quartz vein material taken from float and outcrop assayed above 1.0 g/t gold including 86.0, 31.8, 47.2, 27.4, 18.1, 2.8, and 1.5 g/t gold . The sampling indicates that the extent of the Contact zone could be much larger than the area previously drilled. Additional mapping and prospecting is planned to refine drill targets in anticipation of drilling this area.
Geological mapping and prospecting in the G2 to Pukelman West corridor and along the Blackjack fault mineralized corridor from the Blackjack deposit south through the Pukelman West and Rhosgobel intrusion for additional areas of undiscovered gold mineralization will also be conducted with the goal of identifying additional drill targets.
Recently acquired data encompassing the southern portion of the
About the
On
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
Sims J. Fort Knox Mine Fairbanks North Star Borough, Alaska, USA National Instrument 43-101 Technical Report.
Harvey N., Gray P., Winterton J., Jutras M., Levy M.,Technical Report for the
Hulse D, Emanuel C, Cook
Simpson R. Florin Gold Project NI 43-101 Technical Report.
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Yukon Geoscience,
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
The scientific and technical content of this news release has been reviewed and approved by
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Email: dpenner@sitkagoldcorp.com
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 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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