Announcement • Feb 26
Sitka Gold Corp. Announces Maiden Resource Estimate At Its Rhosgobel Gold Deposit and Expands Total Mineral Resource Estimate At the Rc Gold Project, Yukon
Sitka Gold Corp. announced an updated 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 RC Gold Project ("RC Gold" or the "Project") located in the Yukon's prolific Tombstone Gold Belt. The MRE was prepared on behalf of the Company by GeoSim Services Inc. and is supported by additional drilling completed by the Company in 2025. The updated MRE for RC Gold includes an initial resource estimate for the newly discovered Rhosgobel Gold Deposit of 2,250,000 ounces of gold inferred (100.68 Mt @ 0.70 g/t Au), beginning at surface and grading 0.70 g/t gold using a cut-off grade of 0.30 g/t gold, an updated resource estimate for the Eiger Gold Deposit of 535,000 ounces of gold inferred (32.14 Mt @ 0.52 g/t Au), beginning at surface and grading an average of 0.52 g/t gold using a cut-off grade of 0.30 g/t gold and the existing mineral resource estimate for the Blackjack Gold Deposit, which was updated last year with an effective date of January 21, 2025, comprising an indicated resource of 1,291,000 ounces of gold in 39.96 Mt grading 1.01 g/t gold and an inferred resource of 1,044,000 ounces of gold in 34.60 Mt grading 0.94 g/t gold beginning at surface and using a cut-off grade of 0.30 g/t gold. The MRE for the RC Gold Project now comprises 1,291,000 ounces gold indicated (39.96 Mt @ 1.01 g/t Au) at Blackjack, and 3,829,000 ounces gold inferred, including: 2.25 million ounces (100.68 Mt @ 0.70 g/t Au) at Rhosgobel, 1.04 million ounces (34.60 Mt @ 0.94 g/t Au) at Blackjack, and 0.54 million ounces (32.14 Mt @ 0.52 g/t Au) at Eiger. Drilling continues to expand gold mineralization at the Blackjack deposit, which remains open in all directions, and an updated resource estimate is anticipated for Blackjack after the 2026 drilling program has been completed. A National Instrument 43-101 Technical Report describing the details of the mineral resource estimate is in preparation and will be filed on SEDAR within 45 days of this news release. Rhosgobel Deposit: The maiden resource for the Rhosgobel Deposit is based on data from 72 drill holes representing 15,396 m of drilling. Twenty-seven reverse circulation holes were drilled by Kennecott in 1995. All core drilling (45 holes) was carried out by Sitka Gold between 2024 and the end of 2025. The modelling for the maiden resource at Rhosgobel identified a higher grade component of the deposit that contains greater than 1.0 g/t gold material that trends from surface to a currently identified depth of approximately 300 metres. The morphology and grade of this mineralization allows for the possible development of a higher-grade starter pit and a faster capital cost payback of potential future mine development. The Rhosgobel deposit also contains a significant amount of scheelite, a primary mineral of tungsten. Drill hole DDRCRG-24-002 and DDRCRG-24-004 were assayed for WO3 using lithium borate fusion with an XRF finish and yielded significant results such as 75.5 m of 0.132 % WO3 from 119.5 m, and 46.19 m of 0.121 % WO3 from 223.0 m from hole DDRCRG-24-002, and 85.4 metres of 0.138% WO3 from 94.0 metres, 60.0 metres of 0.134% WO3 from 202.0 metres, and 35.0 metres of 0.121% WO3 from 285.0 metres intersected in DDRCRG-25-004. An additional approximately 5,500 samples from 32 drill holes have been submitted for XRF tungsten assays to determine the distribution of tungsten at Rhosgobel. While the Company is encouraged by these tungsten values, it is not yet known if the tungsten can be economically recovered and further metallurgical work will include investigating the tungsten potential. Eiger Zone The updated resource for the Eiger Zone is based on data from 21 drill holes representing 8,540 m of core drilling. All drilling was carried out by Sitka Gold in 2020, 2021, and 2025.
