SITKF - Sitka Gold Reports up to 94% Gold Recovery from Initial Metallurgical Testing Conducted at the Blackjack and Eiger Zones at its RC Gold Project Yukon
(TheNewswire)
VANCOUVER, CANADA – TheNewswire - July 13, 2022: Sitka Gold Corp.(“Sitka” or the “Company”) (CSE:SIG) (FSE:1RF)(OTC:SITKF) is ?? pleased to provide asummary of initial metallurgical bottle roll tests on six samples fromthe Blackjack and Eiger zones at its RC Gold Project in the Yukon. This test work was carried out by ALS Canada Ltd. MetallurgyServices in Kamloops, British Columbia.
Highlights:
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Gold recoveries demonstrate strong and rapid leachkinetics. Gold extraction was mostly complete within 4-8 hours withminor increases to 24 hours.
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Ultimate extraction gold recoveries averaged 85% andwere as high as 94%.
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The results of the bottle roll tests indicate that thegold is not refractory.
Cor Coe, P.Geo., CEO and Director ofSitka Gold states: “We are very pleased with these excellentmetallurgical test results that demonstrate that the goldmineralization from these two zones is not refractory and has highgold recoveries with minimal NaCN consumption. This is significant asit endorses the potential for an open-pit, heap leach operation withhigh gold recoveries and this is typically the most economicallyefficient method of extracting gold from a deposit. We are rapidlyexpanding the known mineralization at the Blackjack zone as wecontinue to aggressively step out from our initial discoveryhole.”
Metallurgical Test Work
Two representative samples were selected to test goldrecoveries from the Eiger Zone and four samples were selected from theBlackjack Zone. Each of the 6 samples consisted of 500 grams ofdrill core primary crush material originally processed at ALS Globalin Whitehorse. The samples were dominantly from non-oxidized rocktaken at downhole depths ranging from 80 m to 286 m. The sampleswere also chosen to test gold recoveries for a range of gold gradesvarying from 0.92 g/t gold to as high as 35.60 g/t gold.
The samples from the Eiger Zone were of fine-graineddiorite with sheeted quartz veins containing pyrite and arsenopyrite.Two of the samples from the Blackjack zone were of the megacrysticgranite unit containing sheeted quartz veinswith pyrite and arsenopyrite, while two were of mixed metasedimentaryrock containing quartz veinlets with a minor amount ofarsenopyrite.
The samples were shipped to ALS Metallurgy Services inKamloops, BC where they were pulverized to 170 microns. Cyanidationbottle roll leach tests were then completed on each pulverized sampleover a 48-hour period. Cyanide liquors were sampled at 2, 4, 8, 24 and48 hours while the pH and NaCN concentrations were maintained at 10.5and 1 g/L, respectively. The liquors were assayed for gold. Followingcompletion of the tests, the cyanidation residues were assayed forgold in duplicate for improved accuracy. The following tablesummarizes the results.
Table 1 - Summary of MetallurgicalBottle Roll Tests
2022 Drilling Program Update
The Company is currently aggressively drilling at RCGold with its focus on further defining the gold mineralizationlaterally and vertically from the 2021 discovery hole (Hole 21) thatreturned 220.1 metres of 1.17 g/t gold including 50.5 metres of 2.08 g/t gold (See news release dated December 13, 2021). Sofar, 13 holes totaling 3,842 metres have been drilled this year at theBlackjack Zone. Nine holes from the current drilling campaign havebeen logged, sampled and shipped for analysis to ALS Global Labs inWhitehorse, Yukon.
About the RC Gold Project
The RC Gold Project consists of a 376 square kilometre contiguousdistrict-scale land package located in the newly road accessible ClearCreek, Big Creek, and Sprague Creek districts in the heart of Yukon'sTombstone Gold Belt. It is the largest consolidated land packagestrategically positioned mid-way between Victoria Gold's Eagle GoldMine - Yukon’s newest gold mine which reached commercial productionin the summer of 2020 - and Sabre Gold Mine’s Brewery Creek GoldMine. The RC Gold Project land package comprises five underlyingproperties, namely, the RC, Bee Bop, Mahtin, Clear Creek, and BarneyRidge properties*. ?The Company has identified a large 500 m by 2000m intrusion related gold system on the Property spanning theBlackjack, Saddle and Eiger zones and to date has drilled 34 diamonddrill holes into this system. This has been the main focus of theCompany’s drill programs at RC Gold in 2020, 2021 and 2022 whichhave returned several significant gold intercepts. including thediscovery hole in the Blackjack zone in the last drill hole from the2021 drill program, DDRCCC-21-021 (“Hole 21”). Hole 21 intersected 220.1 m of 1.17 g/t gold fromsurface that included 50.5 m of 2.08 g/t gold . Hole 21 wasthe westernmost hole drilled in the Saddle-Eiger trend and was drilledunder a greater than 500 ppb gold-in-soil anomaly that was previouslyidentified on surface. This gold-in-soil anomaly is part of the larger2 kilometre by 500 m gold-in-soil anomaly that stretches from theBlackjack Zone, through the Saddle Zone to the Eiger Zone and is openin all directions. Drilling in 2021 in the Eiger Zone in theeasternmost area of the gold-in-soil anomaly has produced numeroussignificant intersections as demonstrated by Hole 9 which intersected 354 m of 0.41 g/t Au including 72 mof 0.72 g/t Au (see news release dated August 19, 2021).
Sitka Gold inherited a wealth of historical and current data fromthese properties from work spanning the last 40 years. Recentexploration work and the compilation of historical data have definedseveral mineralized zones with both bulk tonnage, intrusion-relatedgold deposit targets and high-grade, vein- and breccia-hosted goldtargets. The RC Gold Project also has a common border with VictoriaGold’s Clear Creek property at its western boundary and FlorinResources’ Florin Gold property at its northern boundary.
*For more detailed information on the underlyingproperties please visit our website at www.sitkagoldcorp.com .
Deposit Model
Exploration on the Property has mainly focused on identifying anintrusion-related gold system (“IRGS”). The property is part ofthe Tombstone Gold Belt which is the prominent host to IRGS depositswithin the Tintina Gold Province in Yukon and Alaska. Notable depositsfrom the belt include: Fort Knox Mine in Alaska with current Provenand Probable Reserves of 230 million tonnes at 0.3 g/t Au (2.471million ounces; Sims 2018) (1) ; Eagle Gold Mine with current Proven and ProbableReserves of 155 million tonnes at a diluted grade of 0.65 g/t Au atthe Eagle and Olive deposits (3.261 million ounces; Goodwin et al.2019) (2) ; the BreweryCreek deposit with current Indicated Mineral Resource of 22.2 milliontonnes at a gold grade of 1.11 g/t (0.789 million ounces; Hulse et al.2020) (3) ; the Florin Golddeposit, located adjacent to Sitka’s RC Gold project, with a currentInferred Mineral Resource of 170.99 million tonnes grading 0.45 g/t(2.47 million ounces; Simpson 2021) (4) and the AurMac Project with an InferredMineral Resource of 207.0 million tonnes grading 0.60 gram per tonnegold (3.99 millon ounces; Jutras 2022) (5) .
(1) Sims J. Fort Knox Mine Fairbanks North StarBorough, Alaska, USA National Instrument 43-101 Technical Report. June11, 2018. https://s2.q4cdn.com/496390694/files/doc_downloads/2018/Fort-Knox-June-2018-Technical-Report.pdf
(2) Goodwin R, Gray P, Jutras M, Tang S, Wilbur S. Technical Report for the Eagle Gold Mine, Yukon Territory, Canada.JDS Energy & Mining Inc. December 6, 2019.
https://vitgoldcorp.com/site/assets/files/6480/jds-vit-eagle-gold-ni-43-101-fs-report-20191206.pdf
(3) Hulse D, Emanuel C, Cook C. NI43-101 TechnicalReport on Mineral Resources. Gustavson Associates. May 31, 2020.
https://www.goldenpredator.com/_resources/Brewery-Creek_NI-43-101-05OCT2020-File.pdf
(4) Simpson R. Florin Gold Project NI43-101Technical Report. Geosim Services Inc. April 21, 2021. https://sedar.com/GetFile.do?lang=EN&docClass=24&issuerNo=00005795&issuerType=03&projectNo=03236138&docId=4984158
(5 ) Banyan Gold News Release Dated May 17, 2022 (Technical Reportto be filed within 45 days of news release)https://www.banyangold.com/news-releases/2022/banyan-announces-4-million-ounce-gold-mineral-resource-estimate-for-the-aurmac-property-yukon-canada/
About Sitka Gold Corp.
Sitka Gold Corp. is a well-funded mineral exploration companyheadquartered in Canada. The Company is managed by a team ofexperienced industry professionals and is focused on exploring foreconomically viable mineral deposits with its primary emphasis ongold, silver and copper mineral properties of merit. Sitka currentlyhas an option to acquire a 100% interest in the RC, Barney Ridge,Clear Creek and OGI properties in the Yukon and the Burro Creek Goldproperty in Arizona. Sitka owns a 100% interest in its Alpha Goldproperty in Nevada, its Mahtin Gold property in the Yukon and itsCoppermine River project in Nunavut.
Sitka is currently conducting a planned 10,000 metre diamond drillprogram at its RC Gold Project in the Yukon. Drilling is alsocurrently underway at the Company’s Alpha Gold Property in Nevadawhere up to 1,500 metres of drilling is planned.
The scientific and technical content of this news release has beenreviewed and approved by Cor Coe, P.Geo., Director and CEO of theCompany, and a Qualified Person (QP) as defined by National Instrument43-101.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SITKA GOLD CORP.
“ DonaldPenner ”
President and Director
For more information contact:
Donald Penner
President & Director
778-212-1950
dpenner@sitkagoldcorp.com
or
Cor Coe
CEO & Director
604-817-4753
ccoe@sitkagoldcorp.com
Cautionary and Forward-LookingStatements
This news release containsforward ? looking statements and forward ? looking information within the meaning of applicable securitieslaws. These statements relate to future events or future performance.All statements other than statements of historical fact may beforward ? looking statements or information.Forward ? looking statements and information areoften, but not always, identified by the use of words such as“appear”, “seek”, “anticipate”, “plan”,“continue”, “estimate”, “approximate”, “expect”,“may”, “will”, “project”, “predict”, “potential”,“targeting”, “intend”, “could”, “might”, “should”,“believe”, “would” and similar expressions.
Forward-looking statements andinformation are provided for the purpose of providing informationabout the current expectations and plans of management of the Companyrelating to the future. Readers are cautioned that reliance on suchstatements and information may not be appropriate for other purposes,such as making investment decisions. Since forward ? looking statements and information address future events andconditions, by their very nature they involve inherent risks anduncertainties. Actual results could differ materially from thosecurrently anticipated due to a number of factors and risks. Theseinclude, but are not limited to, the expected timing and terms of theprivate placement, use of proceeds, anticipated work program, requiredapprovals in connection with the work program and the ability toobtain such approvals. Accordingly, readers should not place unduereliance on the forward ? looking statements,timelines and information contained in this news release. Readers arecautioned that the foregoing list of factors is not exhaustive.
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