If You Invested in Sitka Gold (SITKF)

Sitka Gold Corp. (OTCQB: SITKF) is a mineral exploration company in the gold ore mining industry focused on discovering and advancing gold and related mineral deposits. The company is advancing a portfolio of mineral properties with a primary emphasis on gold, silver and copper. According to its public disclosures, Sitka Gold is headquartered in Canada and is managed by a team of industry professionals with experience in mineral exploration.

A central focus for Sitka Gold is its 100% owned RC Gold Project in the Yukon Territory. The RC Gold Project is described as a contiguous, district-scale land package of approximately 431 square kilometres located in the heart of the Tombstone Gold Belt. The project is positioned roughly 100 kilometres east of Dawson City and is accessed via a secondary gravel road from the Klondike Highway that is usable year-round. Company materials state that RC Gold is the largest consolidated land package strategically located between the Eagle Gold Mine and the past producing Brewery Creek Gold Mine.

Flagship RC Gold Project and Deposit Areas

The RC Gold Project hosts multiple intrusion-related gold targets within the Clear Creek Intrusive Complex (CCIC). Exploration has mainly focused on identifying an intrusion-related gold system (IRGS) within the Tombstone Gold Belt, which is part of the broader Tintina Gold Province in Yukon and Alaska. Within RC Gold, Sitka Gold has outlined several key zones and targets where extensive drilling has been completed:

• Blackjack gold deposit – A pit-constrained gold deposit where mineral resources are reported in indicated and inferred categories. Company disclosures note that Blackjack begins at surface and is considered potentially open-pit minable. Drilling has intersected long intervals of gold mineralization, including broad zones starting from surface and deeper higher-grade intervals, and the deposit remains open in multiple directions.
• Eiger gold deposit – Another pit-constrained deposit at RC Gold with an inferred mineral resource. Eiger also begins at surface and is described as potentially amenable to open-pit mining. Step-out drilling has expanded the mineralized envelope beyond the current mineral resource estimate boundary, and results suggest that a higher-grade component may be emerging at depth while the deposit remains open in all directions.
• Saddle Zone – A zone within the conceptual pit limits of the Blackjack deposit where drilling has defined near-surface gold mineralization in dykes, sills and metasedimentary rocks. Company updates indicate that mineralization at Saddle is not yet included in the current Blackjack mineral resource estimate but has the potential to add near-surface ounces within the proposed pit outline.
• Rhosgobel discovery – A newer intrusion target within the CCIC where drilling has outlined reduced intrusion-related gold mineralization hosted in feldspar megacrystic quartz monzonite. Multiple news releases report that gold mineralization at Rhosgobel begins at surface, extends to depths exceeding 400 metres and has been traced along a strike length of approximately 1.1 kilometres within a 2.0 km by 1.5 km gold-in-soil anomaly. Numerous drill holes have returned intersections exceeding 100 gram-metres (g/t Au*m) of gold, and mineralization remains open in all directions.
• Contact and Pukelman zones – Target areas where drilling has intersected reduced intrusion-related gold mineralization in metasedimentary rocks and intrusive bodies. At the Contact Zone, Sitka Gold has reported broad near-surface intervals of gold mineralization and multiple occurrences of visible gold. Drilling across the Contact–Pukelman area has traced gold mineralization over a lateral footprint of roughly 900 metres by 650 metres and from surface to depths of about 430 metres, with mineralization remaining open in all directions.
• Bear Paw and May-Qu targets – Additional targets within the RC Gold Project where Sitka Gold has completed initial drilling. Company updates describe Bear Paw as a breccia zone and May-Qu as a target area where intrusive rocks and sheeted quartz veins have been intersected, with further work planned.

Exploration Model and Mineralization Style

Sitka Gold’s exploration at RC Gold is guided by an intrusion-related gold system model. Company disclosures describe reduced intrusion-related gold style mineralization characterized by:

• Centimetre-scale sheeted quartz veins and larger metre-scale quartz and quartz–tourmaline veins and breccias cutting intrusive rocks such as feldspar megacrystic quartz monzonite and diorite.
• Gold mineralization hosted both in intrusive bodies and in surrounding metasedimentary rocks.
• Frequent occurrences of visible gold in drill core, often associated with accessory minerals such as bismuthinite, scheelite (a tungsten mineral), arsenopyrite, pyrrhotite, chalcopyrite and molybdenite.

At the Rhosgobel target, Sitka Gold has also reported significant tungsten mineralization, primarily as scheelite, occurring alongside gold in quartz and quartz–tourmaline veins. Company statements note that tungsten could potentially represent a by-product of future gold production at Rhosgobel, although additional analytical work is required to understand its distribution and economic significance.

Metallurgical Characteristics and Resource Reporting

For the Blackjack and Eiger deposits, Sitka Gold reports that both deposits begin at surface and are considered potentially open-pit minable. Initial bottle-roll metallurgical testing has confirmed non-refractory gold mineralization with reported gold extraction rates averaging around the mid-80 percent range. Additional metallurgical test work has returned recoveries in a similar range for gravity followed by cyanidation. Company disclosures state that, for the purposes of the current resource model, a likely mill flowsheet is assumed to include gravimetric, flotation and cyanidation circuits.

The pit-constrained mineral resources at Blackjack and Eiger are supported by a technical report prepared in accordance with NI 43-101 standards titled “Clear Creek Property, RC Gold Project NI 43-101 Technical Report Dawson Mining District, Yukon Territory,” prepared by an independent qualified person with an effective date of January 21, 2025. Sitka Gold indicates that this report is filed on the SEDAR+ system and made available through its corporate channels.

Scale of Drilling and Project Advancement

Company news releases describe an extensive drilling history at RC Gold. Sitka Gold reports that it has completed more than one hundred diamond drill holes across the Clear Creek Intrusive Complex, with tens of thousands of metres drilled at Blackjack, Eiger, Saddle, Rhosgobel, Contact, Pukelman, Bear Paw and May-Qu. Drilling has been carried out in both winter and summer programs, and the company has engaged experienced contract drillers with long-standing operations in the Yukon.

At Rhosgobel, Sitka Gold has completed dozens of diamond drill holes totalling over ten thousand metres, with all holes intersecting reduced intrusion-related gold mineralization and visible gold observed in many holes. At Eiger and Blackjack, step-out and deeper drilling have extended known mineralization beyond existing resource envelopes and identified higher-grade zones at depth. At Contact and Pukelman, drilling has confirmed historical mineralization and expanded the known mineralized footprint.

Additional Projects

Beyond RC Gold, Sitka Gold states that it is also advancing other 100% owned projects in North America. These include the Alpha Gold Project in Nevada, the Burro Creek Gold and Silver Project in Arizona and the Coppermine River Project in Nunavut. The company reports that it holds drill permits for Burro Creek and Coppermine River and that these projects are focused on gold, silver and copper mineralization. RC Gold in the Yukon is described as the company’s flagship project.

Capital Position and Corporate Focus

According to recent news releases, Sitka Gold describes itself as a well-funded exploration company with a significant cash position and no debt, supporting large-scale drilling campaigns at RC Gold. The company’s stated focus is on exploring for economically viable mineral deposits, with a primary emphasis on gold, silver and copper properties of merit. Its strategy at RC Gold includes expanding existing deposits at Blackjack and Eiger, advancing new discoveries such as Rhosgobel and Contact, and testing additional targets within the district-scale land package.

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