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Sitka to Complete Acquisition of 100% Ownership of its Flagship RC Gold Project, Yukon
VANCOUVER, BC / ACCESSWIRE / April 30, 2024 / Sitka Gold Corp. ("Sitka" or the "Company") (TSXV:S...
About this update from Sitka Gold Corp.
[{"type":"text","content":"Sitka to Complete Acquisition of 100% Ownership of its Flagship RC Gold Project, YukonVANCOUVER, BC / ACCESSWIRE / April 30, 2024 / Sitka Gold Corp. (\"Sitka\" or the \"Company\") (TSXV:SIG)(FSE:1RF)(OTCQB:SITKF) is pleased to announce that it has entered into amending agreements (the \"Amendments\") dated April 22, 2024 to acquire a 100% ownership in the RC and BeeBop properties (the \"Properties\"), two of the underlying properties that comprise the Company's road accessible, 386 square kilometre RC Gold Project (\"RC Gold\" or the \"Project\") located in Yukon's Tombstone Gold Belt. The amendments to the RC and BeeBop option agreements in addition to the previously announced Barney Ridge property amendment (see news release dated April 23, 2024) and Clear Creek property amendment (see news release dated (December 19, 2023) will complete Sitka's acquisition of 100% ownership of all the underlying properties that comprise the district-scale and road accessible RC Gold Project.The RC and BeeBop properties are adjacent to the east of the Clear Creek property which hosts the Blackjack and Eiger gold deposits (see Figure 1). To date, the Company has completed all the exploration requirements and has made all property cash and share payments pursuant to the RC and BeeBop option agreements (see news release dated July 30, 2019) subject to the Amendments whereby the balance of future exploration expenditures will be waived and the Company will make a final payment of $60,000 cash and issue 375,000 shares (the \"RC Consideration Shares\") to acquire a 100% interest in the RC Property and a final payment of $20,000 cash and issue 125,000 shares (the \"BeeBop Consideration Shares, together with the RC Consideration Shares, the \"Consideration Shares\") to acquire a 100% interest in the BeeBop Property. Payments will be made on or before May 15, 2024. The Amendments and the issuance of the Consideration Shares remain subject to the approval of the TSX Venture Exchange.The 100 mineral claims of the RC property and the 24 mineral claims of the BeeBop property form a contiguous block of claims covering approximately 2,760 hectares and contain the Big Creek Stock. The Big Creek Stock is a 2 km by 3 km body of dioritic intrusive that forms part of the Clear Creek Intrusive Complex, where the Company has recently defined a mineral resource esti...