Sitka Gold Encounters Multiple Observations of Visible Gold in First Two Diamond Drill Holes Ever Completed at the Rhosgobel Intrusion at Its Flagship RC Gold Project in Yukon

In This Article:

  • Multiple instances of visible gold observed in drill core from first diamond drill holes ever completed at the Rhosgobel reduced intrusion-related gold deposit target located 5 km south of the Blackjack gold deposit.

  • Gold mineralization appears to extend at least 250 metres below the extent of historical drilling.

  • Large zones of reduced intrusion-related sheeted veins and breccias intersected below historical drilling.

  • 11 instances of visible gold observed in hole DDRCRG-24-002.

Vancouver, British Columbia--(Newsfile Corp. - October 9, 2024) - Sitka Gold Corp. (TSXV: SIG) (FSE: 1RF) (OTCQB: SITKF) ("Sitka" or the "Company") is pleased to announce that several instances of visible gold have been observed in the first two diamond drill holes ever completed at the Rhosgobel reduced intrusion-related gold deposit target, located approximately 5 kilometres south of the Blackjack gold deposit, at its year-round road accessible RC Gold Project in Yukon. The 2024 drilling at Rhosgobel suggests that gold mineralization continues for at least 250 metres beyond the depth of previous reverse circulation drilling that had ended in mineralization at a depth of 70 metres. Assay results for these drill holes are pending. The Company currently has two drills operating at its RC Gold property and is awaiting analytical results for other completed drill holes, including drill hole DDRCCC-24-068, which returned over 40 instances of visible gold from near surface (4 metres) to 680 metres depth (see news release dated September 11, 2024).

Figure 1 - A cross section of the 2024 drilling on the Rhosgobel intrusion showing the locations of visible gold observed in the drill core.

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Figure 2 - Examples of instances of visible gold observed throughout DDRCRG-24-001 (a - b) and DDRCRG-24-002 (c - f). Visible gold is often associated with bismuthinite, scheelite, and arsenopyrite. Assays for these drill holes are currently pending.

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"The visuals of the first two diamond drill holes to ever be completed at the Rhosgobel intrusion-related gold target (Figures 1, 2, 3 and 6) have exceeded expectations with several occurrences of visible gold observed in DDRCRG-24-001 and 002,” commented Cor Coe, CEO and Director of Sitka Gold. “The visual results from our first pass of drilling at Rhosgobel are very encouraging and highlight the significant potential of the many high-priority targets we have yet to drill within the Clear Creek Intrusive Complex (see Figure 5). We eagerly await the assays from these holes which suggest that robust gold mineralization continues from surface to a vertical depth at least 250 metres below the extent of historical drilling and showcase the potential for Rhosgobel to host another significant intrusion-related gold deposit within the Clear Creek Intrusive Complex analogous to our growing Blackjack deposit. Diamond drilling utilising oriented core at Rhosgobel has provided valuable information to Sitka’s technical team confirming the similar structural and geological controls on gold mineralization that occur at the Blackjack and Eiger deposits, located approximately 5 kilometres to the north, and the team is excited to apply the knowledge gained from our geological modelling to further advance this exciting target.”