Sitka Gold finds new high-grade zone in Yukon
Sitka Gold (TSXV: SIG) said drilling in a new section of its RC property in the Yukon yielded several instances of near-surface high-grade gold.Hole DDRCCC-25-113 in the deposit’s Contact zone cut 119 metres of 1.01 grams gold per tonne from 15 metres downhole, Sitka said Wednesday in a statement. This included 10.7 metres grading 4.1 grams gold from 24 metres depth.“Initial results from Sitka’s first pass of diamond drilling at the Contact zone are very encouraging, demonstrating the strong gold values present within this higher-grade gold zone,” CEO Cor Coe said in the statement.Based on the latest drill results, “we can add the Contact zone to our growing list of targets that demonstrate the potential to host additional multi-million-ounce gold deposits within the Clear Creek Intrusive Complex,” he said.Productive yearWednesday’s results extend a productive exploration year for Sitka, following its first high-grade hole in June. Crews have completed about 32,000 metres of diamond drilling at RC this year, and assays are still pending for several holes – including some from the adjacent Pukelman target area, where numerous instances of visible gold were observed in the drill core, the company said.Sitka shares jumped 8.7% to C$1.13 Wednesday in Toronto, giving the company a market value of about C$420 million ($300 million).Mineralization in the Contact-Pukelman zone remains open in all directions, Sitka said Wednesday. Drilling so far has confirmed a mineralized footprint of about 900 metres by 650 metres, down to a depth of about 430 metres.Assays pendingAssays are also pending for another 46 diamond drill holes that have been completed across the Rhosgobel, Blackjack, Saddle, Eiger, Bear Paw and MayQu targets.Located in the Tombstone gold belt, about 100 km east of Dawson City, RC is part of a 431 sq. km land package owned by Sitka. It can be reached via a secondary gravel road from the Klondike Highway, which is usable year-round.Exploration on the property so far has mainly focused on identifying an intrusion-related gold system.Two depositsOther drill results released Wednesday include those from hole DDRCCC-25-111, which cut 20 metres grading 0.54 gram gold from 295 metres down. A third hole, DDRCCC-25-112, intersected 11 metres grading 1.06 grams gold from a depth of 182 metres, Sitka said.RC now has pit-constrained mineral resources in two zones: the Blackjack and Eiger gold deposits.Blackjack holds about 40 million indicated tonnes grading 1.01 grams gold for contained metal of 1.29 million oz. gold, and 34.6 million inferred tonnes grading 0.94 gram gold for contained metal of 1.04 million ounces.As for Eiger, it holds about 27.4 million inferred tonnes grading 0.5 gram gold for contained metal of 440,000 ounces.Weiter zum vollständigen Artikel bei Mining.com
Quelle: Mining.com
