Sitka Intersects 47.6 Metres of 2.09 g/t Gold, Including 8.0 Metres of 5.07 g/t Gold near Surface at the Saddle Zone at Its RC Gold Project, Yukon
The high-grade, near surface gold mineralization at Saddle is within the proposed pit of the Blackjack Mineral Resource Estimate (MRE), 300 m east of the current Blackjack resource outline, and highlights the potential of this area to significantly increase the Blackjack MRE
New results from step-out drilling at the Eiger Deposit identify significant widths of Eiger style gold mineralization on the western margin of the current Eiger MRE
A total of 18,662 m of drilling have been completed this year with assays pending for 12,951 m (31 drill holes) completed across the Blackjack, Saddle, Eiger and Rhosgobel targets
Vancouver, British Columbia--(Newsfile Corp. - July 17, 2025) - Sitka Gold Corp. (TSXV: SIG) (FSE: 1RF) (OTCQB: SITKF) ("Sitka" or the "Company") is pleased to announce assay results from its ongoing 30,000 metre diamond drill program currently underway at its 100% owned, road accessible RC Gold Project located in the Yukon's prolific Tombstone Gold Belt. Recent results from the Saddle zone, located between the Blackjack and Eiger MRE's (see Figure 1), have returned several intersections of near surface multi-gram gold mineralization that lie within the proposed pit boundary of the Blackjack MRE, but are 300 m east of the current resource outline. Assay results of up to 47.6 m of 2.09 g/t gold, including 8.0 m of 5.07 g/t gold, emphasize the potential of the Saddle zone to significantly increase the Blackjack MRE. Drilling is currently ongoing with four drill rigs turning at Blackjack, Saddle, Eiger and Rhosgobel and assays are pending for an additional 12,951 metres drilled to date this season.
Table 1: Assay highlights for this release (see Table 2 for details)
*Intervals are drilled core length, as insufficient drilling has been completed at this time to determine true widths.
To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/6144/259106_7706db08446f285a_002full.jpg
"Assays from the initial drilling completed at RC Gold this summer season have returned some excellent results," said Cor Coe, Director and CEO of Sitka. "The high-grade intercepts encountered in the first follow-up holes of the season at the Saddle zone are particularly impressive, with near-surface, multigram gold intervals that are approximately 300 metres east of the current Blackjack resource and located within the conceptual pit shell of that deposit. Results of up to 47.6 metres of 2.09 grams per tonne gold, including 14.0 metres of 3.78 grams per tonne gold, demonstrates the potential of this area to add significant ounces to our existing gold resources and further supports the possibility that the Saddle Zone could link gold mineralization between the Blackjack and Eiger gold deposits."
SADDLE ZONE DRILLINGAt the Saddle Zone, 11 holes for a total 2,918 m have been completed to date in 2025 and results for holes DDRCCC-25-081, DDRCCC-25-084 and DDRCCC-25-087 have been received. All holes were drilled within the proposed pit limit of the Blackjack MRE, but outside of the current resource outline (Figure 1) and all were drilled with a northerly azimuth to test the eastern extension of mineralization identified in hole DDRCCC-23-054 (84.0 m of 1.21 g/t Au; see Company press release dated October 30, 2023). All holes intersected a megacrystic quartz monzonite sill cutting hornfelsed sedimentary rock. The sill, which strikes approximately WNW and dips gently to the north, is estimated to be about 10-15 m true thickness and has been drilled along strike for approximately 350 m. Mineralization was intersected in the sill and extends into the adjacent sedimentary rocks.
All three of the holes DDRCCC-25-081, 084 and 087 encountered multi-gram gold mineralization from near surface to depth in both the quartz monzonite sill and adjacent sedimentary rocks. Hole 081 returned 42.0 m of 0.96 g/t Au from 102.0 m; Hole 084 returned 24.0 m of 1.36 g/t from 85.0 m; and Hole 087 returned 47.6 m of 2.09 g/t from 33.5 m, including 14.0 m of 3.78 g/t Au from 67.0 m and 8.0 m of 5.07 g/t Au from 73.0 m (see Figure 2). These holes are within the proposed pit outline for the current Blackjack MRE (see Figure 1) but still some 300 m east of the currently modelled resource outline.
Figure 1: Plan map of drilling at the Blackjack, Saddle and Eiger Zones
To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/6144/259106_7706db08446f285a_003full.jpg
Figure 2: Cross Section of hole DDRCCC-25-087 at the Saddle Zone where mineralization occurs in the quartz monzonite sill and in the adjacent metasedimentary rocks.
To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/6144/259106_7706db08446f285a_004full.jpg
BLACKJACK DEPOSIT DRILLINGTo date, 14 drill holes for a total of 7,405 metres have been completed at the Blackjack deposit and results for hole DDRCCC-25-080 have been received. This hole was drilled to test the updip extension of DDRCCC-23-047 (219.0 m of 1.36 g/t Au - see Company news release dated September 26, 2023). The hole intersected dykes of megacrystic quartz monzonite in altered metasediments crosscut by sheeted quartz veins with local multi-gram intercepts of gold mineralization (see Table 2).
EIGER DEPOSIT DRILLINGTo date, 10 drill holes for a total of 4,417 metres have been completed at the Eiger deposit. Assay results have now been received for holes DDRCCC-25-078, DDRCCC-25-079 and DDRCCC-25-082 (see Table 2). Drill holes 078, 079 and 082 were collared at the same location on the western margin of the Eiger Stock, with the objective of expanding the current Eiger Mineral Resource Estimate (see Figure 1).
All drill holes intersected sheeted quartz veins within the metasedimentary rocks before intersecting the diorite intrusion. Gold mineralization was encountered in both the metasedimentary rocks and intrusion. The broad interval of 369.0 m from 76.0 m in Hole 79 contained 0.46 g/t Au, significantly above the cut-off of 0.20 g/t Au of the current Eiger MRE. Higher grade intervals included 46.0 m of 0.99 g/t from 173.8 m and 19.0 m of 1.03 g/t Au from 331.0 m.
Hole 082, steepened to -75 degrees at the same location, encountered local gold mineralization in metasedimentary rock to a final length of 431.3 m (see Table 2).
RHOSGOBEL TARGET DRILLINGTo date in 2025, 10 holes for 2,833 m have been completed at the Rhosgobel target. Assays are still pending for all the holes completed at Rhosgobel so far this year (see Company press release dated July 10, 2025 for the location of holes up to DDRCRG-25-010).
Table 2: Summary of significant assay results from this release
*Intervals are drilled core length, as insufficient drilling has been completed at this time to determine true widths
To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/6144/259106_7706db08446f285a_005full.jpg
Figure 3: Regional map of the RC Gold Project located in the western portion of Yukon's prolific Tombstone Gold Belt.
To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/6144/259106_7706db08446f285a_006full.jpg
Figure 4: A plan map of the Clear Creek Intrusive Complex (CCIC) showing the updated resource areas at Blackjack and Eiger, and the six additional areas that have drill targets indicated by the mauve hatched areas. The map highlights the numerous drill targets that Sitka has outlined within the CCIC which all are connected by the road network on the project and occur in an area measuring five (5) km north-south and twelve (12) km east-west. Additional areas highlighted by strong gold in soil anomalies are being advanced to the drill ready stage with additional geological work in 2025.
To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/6144/259106_7706db08446f285a_007full.jpg
Quality Assurance/Quality ControlOn receipt from the drill site, the HTW/NTW-sized drill core was systematically logged for geological attributes, photographed and sampled at Sitka's core logging facility. Sample lengths as small as 0.3 m were used to isolate features of interest, otherwise a default 2 m downhole sample length was used. Each sample is identified by a unique sample tag number which is placed in the bag containing the core to be assayed. Core was cut in half lengthwise along a predetermined line, with one-half (same half, consistently) collected for analysis and one-half stored as a record. Standard reference materials, blanks and duplicate samples were inserted by Sitka personnel at regular intervals into the sample stream. Bagged samples were placed in secure bins to ensure integrity during transport. They were delivered by Sitka personnel or a contract expeditor to ALS Laboratories' preparatory facility in Whitehorse, Yukon, with analyses completed in North Vancouver.
ALS is accredited to ISO 17025:2005 UKAS ref. 4028 for its laboratory analysis. Samples were crushed by ALS to over 70 per cent passing below two millimetres and split using a riffle splitter. One-thousand-gram splits were pulverized to over 85 per cent passing below 75 microns. Gold determinations are by fire assay with an inductively coupled plasma mass spectroscopy (ICP-AES) finish on 50 g subsamples of the prepared pulp (ALS code: Au-ICP-22). Any sample returning over 10 g/t gold was re-analyzed by fire assay with a gravimetric finish on a 50 g subsample (ALS code: Au-GRA21). In addition, a 51-element analysis was performed on a 0.5 g subsample of the prepared pulps by an aqua regia digestion followed by an inductively coupled plasma mass spectroscopy (ICP-MS) finish (ALS code: ME-MS41).
About the flagship RC Gold ProjectSitka's 100% owned RC Gold Project consists of a 431 square kilometre contiguous district-scale land package located in the heart of Yukon's Tombstone Gold Belt. The project is located approximately 100 kilometres east of Dawson City, which has a 5,000 foot paved runway, and is accessed via a secondary gravel road from the Klondike Highway which is usable year-round and is an approximate 2 hour drive from Dawson City. It is the largest consolidated land package strategically positioned mid-way between the Eagle Gold Mine and the past producing Brewery Creek Gold Mine.
The RC Gold Project now has pit-constrained mineral resources that are contained in two zones: the Blackjack and Eiger gold deposits with 1,291,000 ounces of gold in 39,962,000 tonnes grading 1.01 g/t gold in an indicated category and 1,044,000 ounces of gold in 34,603,000 tonnes grading 0.94 g/t in an inferred category at Blackjack and 440,000 ounces of gold in 27,362,000 tonnes grading 0.50 g/t gold in an inferred category at Eiger. These resource estimate numbers are supported by the recently updated technical report for RC Gold, prepared in accordance with NI 43-101 standards, entitled "Clear Creek Property, RC Gold Project NI 43-101 Technical Report Dawson Mining District, Yukon Territory", prepared by Ronald G. Simpson, P. Geo., of GeoSim Services Inc. with an effective date of January 21, 2025. This report is available on SEDAR+ (http://www.sedarplus.ca) and on the Company's website (www.sitkagoldcorp.com).
Both of these deposits begin at surface, are potentially open pit minable and amenable to heap leaching, with initial bottle roll tests indicating that the gold is not refractory and has high gold recoveries of up to 94% with minimal NaCN consumption (see News Release July 13, 2022).
As of the end of 2024, the Company has drilled 72 diamond drill holes into this system for a total of approximately 25,136 metres. Other targets drilled to date include the Saddle, Josephine, Rhosgobel and Pukelman zones. The resource expansion drilling in 2023 at Blackjack produced results of up to 219.0 metres of 1.34 g/t gold including 124.8 metres of 2.01 g/t gold and 55.0 metres of 3.11 g/t gold in drill hole DDRCCC-23-047 (see news release dated September 26, 2023) and in 2024 results of up to 678.1 metres of 1.04 g/t gold starting from surface in DDRCCC-24-068, including 409.5 metres of 1.36 g/t gold, 93.0 metres of 2.57 g/t gold and 5.5 metres of 17.59 g/t gold (see news release dated October 21, 2024). Results from DDRCCC-25-075, completed during winter drilling in 2025, produced the best high-grade intercepts drilled to date at Blackjack, returning 352.8 metres of 1.55 g/t gold including 108.9 metres of 3.27 g/t gold and 45.0 metres of 4.52 g/t gold (see news release dated April 22, 2025).
A planned 30,000 metre diamond drilling program for 2025 is currently underway at RC Gold.
RC Gold Deposit ModelExploration 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 Tintina Gold Province in Yukon and Alaska. Notable deposits from the belt include: Fort Knox Mine in Alaska with current Proven and Probable Reserves of 230 million tonnes at 0.3 g/t Au (2.471 million ounces; Sims 2018)(1); Eagle Gold Mine with current Measured and Indicated Resources of 233 million tonnes at a grade of 0.57 g/t Au at the Eagle Main Zone (4.303 million ounces; Harvey et al, 2022)(2); the Brewery Creek deposit with current Indicated Mineral Resource of 22.2 million tonnes at a gold grade of 1.11 g/t (0.789 million ounces; Hulse et al. 2020)(3); the AurMac Project with an Inferred Mineral Resource of 347.49 million tonnes grading 0.63 gram per tonne gold (7.00 million ounces)(4) and the Valley Deposit, with a current Measured and Indicated Mineral Resource of 7.94 million oz gold at 1.21 g/t and an additional Inferred Mineral Resource of 0.89 million oz at 0.62 g/t gold(5), and the Raven deposit with an inferred mineral resource of 1.1 million oz (19.96 million tonnes at 1.67 g/t gold)(6).
(1) Sims J. Fort Knox Mine Fairbanks North Star Borough, Alaska, USA National Instrument 43-101 Technical Report. June 11, 2018. https://s2.q4cdn.com/496390694/files/doc_downloads/2018/Fort-Knox-June-2018-Technical-Report.pdf
(2) Harvey N., Gray P., Winterton J., Jutras M., Levy M.,Technical Report for the Eagle Gold Mine, Yukon Territory, Canada. Victoria Gold Corp. December 31, 2022. https://vgcx.com/site/assets/files/6534/vgcx_-_2023_eagle_mine_technical_report_final.pdf
(3) Hulse D, Emanuel C, Cook C. NI 43-101 Technical Report on Mineral Resources. Gustavson Associates. May 31, 2020. https://minedocs.com/22/Brewery-Creek-PEA-01182022.pdf
(4) Thornton T., Jutras M., Malhotra D. Technical Report Aurmac Property Mayo Mining District, Yukon Territory, Canada. JDS Energy and Mining Inc. February 6, 2024. https://banyangold.com/site/assets/files/5251/banyan_gold_ni_43-101_technical_report_2024_03_18.pdf
(5)https://snowlinegold.com/2025/05/15/snowline-gold-expands-measured-and-indicated-gold-ounces-by-96-in-updated-mineral-resource-estimate-at-its-valley-gold-deposit-yukon/
(6) Jutras, M. 2022. Technical Report on the Raven Mineral Deposit, Mayo Mining District Yukon Territory, Canada, prepared for Victoria Gold Corp and filed on SEDAR (www.sedar.com) with an effective date of September 15, 2022
Upcoming EventsSitka Gold will be attending and/or presenting at the following events*:
Precious Metals Summit, Beaver Creek, Colorado: September 9 - 12, 2025
Yukon Geoscience Forum, Whitehorse, YT: November 16 - 19, 2025
Swiss Mining Institute, Zürich, Switzerland: November 19 - 22, 2025
*All events are subject to change.
About Sitka Gold Corp.Sitka Gold Corp. is a well-funded mineral exploration company headquartered in Canada. The Company is managed by a team of experienced industry professionals and is focused on exploring for economically viable mineral deposits with its primary emphasis on gold, silver and copper mineral properties of merit. Sitka is currently advancing its 100% owned, 431 square kilometre flagship RC Gold Project located within the Tombstone Gold Belt in the Yukon Territory. The Company is also advancing the Alpha Gold Project in Nevada and currently has drill permits for its Burro Creek Gold and Silver Project in Arizona and the Coppermine River Project in Nunavut, all of which are 100% owned by the Company.
*For more detailed information on the Company's properties please visit our website at www.sitkagoldcorp.com.
The scientific and technical content of this news release has been reviewed and approved by Gilles Dessureau, P.Geo., V.P. Exploration of the Company, and a Qualified Person (QP) as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SITKA GOLD CORP.
"Donald Penner"
President and Director
For more information contact:
Donald Penner President & Director 778-212-1950 dpenner@sitkagoldcorp.com
or
Cor CoeCEO & Director604-817-4753ccoe@sitkagoldcorp.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary and Forward-Looking StatementsThis 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 and the Company's anticipated work programs.
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 and the results of the Company's anticipated work programs.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/259106
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The global supply shrank as Cameco and Kazatomprom curbed their production, but the demand rose as more countries initiated new nuclear energy plans and resumed their idled projects. Other global challenges are keeping uranium prices elevated. Russia, which was a major exporter of enriched uranium products and services to the U.S. and Europe, was hit by sanctions and export bans after its invasion of Ukraine in early 2022. Kazatomprom's supply chain issues and a coup in Niger (another key producer of uranium) in 2023 further reduced the global supply while driving more nuclear energy companies to buy their uranium from Cameco. What will happen to Cameco over the next three years? The bulls expect uranium's price to soar even higher as the market's demand continues to outstrip its available supply. The rapid growth of the cloud and AI data center markets -- which are driving more companies to consider using next-gen nuclear energy solutions like small modular reactors (SMRs) and microreactors -- could amplify those gains. Looking ahead, Cameco's 49% stake in Global Laser Enrichment (GLE) -- its uranium enrichment joint venture with Silex -- could transform it into a one-stop shop for nuclear power as it integrates those uranium enrichment capabilities into its core mining and conversion businesses. The International Atomic Energy Agency (IAEA) expects the world's nuclear capacity to expand by up to 2.5 times from 2024 to 2050, so Cameco could still have plenty of room to grow over the next few decades. From 2024 to 2027, analysts expect Cameco's revenue to have a CAGR of 8% (in Canadian dollar terms) as its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) have a CAGR of 16%. Its growth should cool off as it laps the big spike in uranium spot prices, the restarting of its mines, and its investment in Westinghouse Electric, but it still looks reasonably valued at 25 times this year's adjusted EBITDA. So even though Cameco's stock is trading near its all-time high, it could rise even higher over the next three years. Should you invest $1,000 in Cameco right now? Before you buy stock in Cameco, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Cameco wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,628!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,063,471!* Now, it's worth noting Stock Advisor's total average return is 1,041% — a market-crushing outperformance compared to 183% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Leo Sun has no position in any of the stocks mentioned. The Motley Fool recommends Brookfield Asset Management and Cameco. The Motley Fool has a disclosure policy. Where Will Cameco Stock Be in 3 Years? was originally published by The Motley Fool Sign in to access your portfolio
