Business
Sitka Gold Files Technical Report for 1,340,000 Ounce Gold Initial Mineral Resource Estimate for its RC Gold Project, Yukon
VANCOUVER, BC, March 3, 2023 /CNW/ - Sitka Gold Corp. ("Sitka" or the "Company") (CSE: SIG) (FSE: 1RF) (OTCQB: SITKF) is pleased to announce it has filed the Te
About this update from Sitka Gold Corp.
[{"type":"text","content":" VANCOUVER, BC, March 3, 2023 /CNW/ - Sitka Gold Corp. (\"Sitka\" or the \"Company\") (CSE: SIG) (FSE: 1RF) (OTCQB: SITKF) is pleased to announce it has filed the Technical Report to support the 1,340,000 gold ounce Initial Mineral Resource Estimate (\"MRE\") in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (\"CIM\") Definition Standards incorporated by reference in National Instrument 43-101 (\"NI 43-101\") for the Blackjack and Eiger gold deposits located on the Company's RC Gold Project (\"RC Gold\" or the \"Project\"). The road accessible, contiguous 376 square kilometre RC Gold Project is located in the Yukon's prolific Tombstone Gold Belt (TGB) approximately 100 kilometres east of Dawson City. The Technical Report, titled Clear Creek Property, RC Gold Project, NI 43-101 Technical Report, Dawson Mining District, Yukon Territory is dated January 19, 2023 and was prepared by Ronald G. Simpson, P.Geo., GeoSim Services Inc. The Report may be found on the Company's website or under the Company's profile on www.sedar.com. \"Filing of this Technical Report marks a major milestone for both the RC Gold Project and Sitka\", stated Cor Coe, P.Geo, Director and CEO of Sitka Gold. \"This 1,340,000 gold resource at RC Gold will provide Sitka with an important new benchmark for valuation which we intend to leverage as we work toward growing this Mineral Resource. With our 2023 winter diamond drilling program beginning soon, we expect to see meaningful advancement at RC Gold over the coming months with drilling primarily focused on expanding both the Blackjack and Eiger gold deposits, which remain open in all directions (see Figure 1). A 1.5 kilometre long mineralized corridor still remains between these deposits with the potential for gold mineralization to link the Blackjack and Eiger zones together (see Figures 1 and 2). With an average grade similar to that of Victoria Gold's nearby producing Eagle Gold Mine, metallurgical testing that shows the gold is amenable to heap leaching, with recoveries of up to 94%, year-round road access and proximity to other key infrastructure such as powerlines, highway and Dawson City proper, the potential for future mine development at RC Gold is quite attractive.\" As announced on January 19, 2023 the pit-constrained Mineral Resource is classified as inferred and conta...