Sitka Gold Stock Price, News & Analysis

Sitka Gold Corp. (TSXV:SIG, FSE:1RF, OTCQB:SITKF) has announced a non-brokered private placement to raise up to $3 million. The offering includes two types of units: Flow-Through Units (FT Units) at $0.22 each and Charity Flow-Through Units (Charity FT Units) at $0.25 each. Both unit types consist of one flow-through share and half a warrant. Each full warrant allows the purchase of one non-flow-through common share at $0.38 within 24 months of closing.

The funds raised will be used for exploration and development of Sitka's RC Gold Project in Yukon and Coppermine River project in Nunavut. The offering is subject to regulatory approval, including TSX Venture Exchange approval, and securities will have a four-month hold period.

Sitka Gold Corp. (TSXV: SIG) (OTCQB: SITKF) reports strong mineralization and visible gold in recent drilling at its RC Gold Project in Yukon, Canada. Key highlights include:

- Multiple occurrences of visible gold observed in drill holes DDRCCC-24-061 and DDRCCC-24-062

- Abundant sheeted quartz veining in both intrusive and metasedimentary rocks

- Second drill rig mobilized to site

- Six drill holes totaling 2,636 meters completed to date

- Drilling continues to expand the Blackjack gold deposit and explore other high-priority targets

The company believes these results highlight the robust nature of the gold system and its potential to add significant tonnage to the Blackjack deposit.

Sitka Gold has initiated its 2024 exploration at the newly acquired Clear Creek property in Yukon, incorporating diamond drilling and additional geochemical surveys, geological mapping, and data integration. The first diamond drilling in Rhosgobel Intrusion since 1995 aims to extend findings from historical drilling. Soil sampling and geological mapping are underway to explore high-potential zones south of the Blackjack deposit and the newly acquired Clear Creek claims. Previous exploration data indicates multiple gold targets with promising results, setting the stage for potentially significant discoveries.

Sitka Gold has acquired Victoria Gold's Clear Creek property, enhancing its RC Gold Project in Yukon.

This acquisition consolidates the entire Clear Creek Intrusive Complex, adding four high-priority gold targets with historical drill results up to 20.46 g/t Au over 10.7 meters.

Victoria Gold becomes a significant shareholder with an 8% interest.

The RC Gold Project, known for its Blackjack and Eiger deposits, now spans a mineralized corridor over 10 kilometers.

Sitka will manage the Clear Creek Property, with deferred payments totaling $11 million due by 2027.

The deal includes a 5% net smelter return royalty for Victoria Gold, plus potential $10 million payments based on gold reserve delineations.

Sitka Gold Corp. has resumed its 15,000-metre drilling program at its RC Gold Project in Yukon. The winter portion yielded promising results, with visible gold in both drilled holes. Hole 57 returned 191m grading 1.16 g/t gold, including 11m of 5.80 g/t gold. Hole 58 returned 154m grading 1.47 g/t gold, including 37m of 3.07 g/t gold. Current drilling aims to expand the Blackjack deposit. The company also plans to investigate other high-priority targets within its 386 sq km property, including the Saddle East zone and the Eiger Deposit, which has 440,000 oz of inferred gold. The area has several potential high-grade gold targets yet to be drilled.

Sitka Gold announced significant drill results from its RC Gold Project in Yukon. Drill hole DDRCCC-23-058 ("Hole 58") intersected 154.0 meters of 1.47 g/t gold, including 37.0 meters of 3.07 g/t gold and 8.0 meters of 4.61 g/t gold. This confirms continuous and high-grade gold mineralization south of the existing Blackjack Gold Deposit. The results, along with winter drilling data, suggest the potential for expanding the mineralized corridor. The company plans up to 15,000 meters of diamond drilling in 2024 to further explore this and additional high-priority targets across its 386 square kilometer property.

Sitka Gold Corp. announces significant gold results in Hole 57 at its RC Gold Project in Yukon. The 191.0m drill intersected 1.16 g/t Au, including 89.0m of 2.03 g/t Au and 11.0m of 5.80 g/t Au. The drill confirms persistent gold mineralization continues at depth and to the southeast, further expanding the gold resource potential. The 2024 drill program aims to define targets within the Clear Creek Intrusive Complex area.

Sitka Gold Corp. is set to acquire 100% ownership of its flagship RC Gold Project in Yukon by finalizing amendments to acquire the RC and BeeBop properties. The company will make cash and share payments to secure ownership of all underlying properties, completing the acquisition process. The RC and BeeBop properties are contiguous to the Clear Creek property, known for hosting the Blackjack and Eiger gold deposits. Sitka's exploration efforts have revealed a significant mineral resource estimate of 1.34 million ounces of gold within the Saddle and Eiger intrusive stocks. The company plans to conduct further exploration and drilling across its project, aiming to expand resources and discover new deposits.