Sitka Gold Reports more than 200 Meters of Gold Mineralization from Surface

The release of one of the final holes of the 2022 drill program was worth a trading halt for Sitka Gold Corp (CSE:SIG; FRA:1RF; OTCQB:SITKF): almost exactly one year after the December 2021 discovery of the Blackjack Zone at the RC Gold Project in the Yukon, Sitka today released one of its best results ever since drilling began. Step-out hole DDRCCC-22-040 intersected 201.0 m at 1.26 g/t Au from surface, including 82.0 m at 2.04 g/t Au from surface, including 19.5 m at 4.87 g/t Au from surface, including 2.0 m at 31.20 g/t Au from 16.0 m. The majority of drilling to date at RC Gold has been focused on establishing the spatial requirements necessary to estimate an initial resource.

Cor Coe, P.Geo., CEO and Director of Sitka, commented, "Step-out drilling in 2022 at RC Gold has been extremely rewarding for Sitka, with results from recent drill holes underpinning the enormous potential of the Blackjack Zone. DDRCCC-22-040 is one of the best holes we have drilled to date at RC Gold. Several other impressive intercepts, including 2 meters of 31.20 g/t gold were encountered throughout the hole, which also contained visible gold. Our winter and summer diamond drill programs over the past year have successfully demonstrated the continuity of strong and consistent gold mineralization throughout the Blackjack Zone, with the zone open in all directions. There is potential to connect gold mineralization over a distance of up to 2 kilometers in both the Saddle and Eiger Zones (see Figure 1). We are committed to aggressively increasing the potential tonnage."

Sitka again plans two-part winter-summer drilling program

The company announced a two-part winter and summer drilling program totaling 10,000 meters of diamond drilling in 2023. Drilling will be primarily focused in the Blackjack, Saddle and Eiger zones.

Conclusion: The latest set of drill holes released by Sitka Gold today provides strong confirmation that gold mineralization along the lead structure of the so-called "Blackjack Fault" is reliably returning higher grade results. The result will be used to define an initial resource, but it also provides geologists with important guidance for planning upcoming drill campaigns. Once again, Sitka will drill through the winter, something some of its competitors cannot do due to lack of infrastructure. The high speed at which Sitka is expanding its discovery is likely to be positively received by the market. At the end of the day, the vision is to connect the three previously isolated individual parts of Blackjack, Saddle and Eiger over a distance of two kilometers to form a potential multi-million ounce deposit. This idea should now slowly attract the attention of larger gold companies.

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