Drilling continues to demonstrate that gold mineralization extends well beyond the current Blackjack deposit, with hole 129 expanding mineralization 150 m east of the resource and hole 132 confirming broad higher-grade mineralization at depth below the current resource envelope
DDRCCC-26-132 intersected 218.6 m of 1.25 g/t gold, including 44.4 m of 3.86 g/t gold, and returned a second, separate interval of 92.7 metres of 1.14 g/t gold
DDRCCC-26-129 intersected 118.0 m of 0.50 g/t gold, and 32.0 m of 1.44 g/t gold, and 55.0 m of 0.48 g/t gold
Six drill rigs are currently turning on the Project at Blackjack, Saddle, Eiger, Rhosgobel and Pukelman-Contact with a seventh drill being mobilized to site
Approximately 32,000 m of diamond drilling has been completed to date this year in 63 drill holes across the Clear Creek Intrusive Complex at RC Gold
Over 23,000 m of drilling across 54 holes has been completed to date at the Blackjack/Saddle zone, since the last mineral resource update was published in January 2025, which was based on ~18,000 m of drilling.
Vancouver, British Columbia--(Newsfile Corp. - August 10, 2026) - Sitka Gold Corp. (TSXV: SIG) (FSE: 1RF) (OTCQX: SITKF) ("Sitka" or the "Company") is pleased to announce additional assay results from diamond drill holes completed at Blackjack and to provide an update on the 60,000 metre diamond drilling program currently underway at its 100% owned, road accessible RC Gold Project ("RC Gold" or the "Project") in Canada's Yukon Territory. These results continue to expand the high-grade gold zone at the Blackjack deposit (see Figures 1 and 2) both at depth and along strike. Drill hole DDRCCC-26-129 represents a large step out (up to 150 m along strike) from the current mineral resource estimate, significantly expanding the known mineralization to the east. Drill hole DDRCCC-26-132 targeted the downdip extension of the high-grade Blackjack zone and confirmed the continuity of higher grade mineralization at depth, supporting the underground potential of the Blackjack Deposit. Assays are currently pending for all remaining holes that have been completed to date this year.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/308820_80cf1b9f84239858_002full.jpg
"Blackjack continues to deliver with large intervals of strong gold mineralization and impressive step-outs that underscore the growth potential of this wide open deposit," said Cor Coe, Director and CEO of Sitka Gold Corp. "Hole 132 is particularly significant as it confirms the continuity of broad, higher-grade gold mineralization well below the current resource shell while also returning one of the strongest high-grade intervals drilled to date. At the same time, hole 129 successfully extends mineralization approximately 150 metres beyond the current resource boundary, further highlighting that the deposit remains open for expansion in multiple directions. With over 23,000 metres of additional drilling completed since the mineral resource estimate at Blackjack was updated in January 2025, which was based on approximately 18,000 metres of drilling at the time, we look forward to incorporating this additional drilling into an updated resource in the near future. With over 40,000 metres of drilling completed to date, the Blackjack deposit continues to show potential for significant expansion while demonstrating the size and scale of mineralization within the broader Clear Creek Intrusive Complex.
"With approximately 32,000 metres of drilling completed to date this year, we have now completed over half of the planned 60,000 metre diamond drill program at RC Gold. Six drill rigs are actively turning across Blackjack, Rhosgobel, Saddle, Eiger and Pukelman-Contact with a seventh rig being mobilized as we continue to aggressively advance what we believe is one of Canada's premier emerging gold districts."
Figure 1: Plan map of drilling completed at the Blackjack deposit, highlighting results from drill holes reported in this news release. Step-out drilling at the Blackjack deposit continues to significantly expand gold mineralization, with drill holes from this release further expanding mineralization laterally to the east of the resource and at depth below the resource. Over 23,000 m of drilling across 54 holes has been completed to date at the Blackjack/Saddle zone since the last mineral resource update was published in January 2025
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/308820_80cf1b9f84239858_003full.jpg
Figure 2: Cross section of drill hole DDRCCC-26-132 which has extended higher-grade gold mineralization below the current mineral resource at Blackjack
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/308820_80cf1b9f84239858_004full.jpg
Figure 3: Cross section of drill hole DDRCCC-26-129 which has expanded known gold mineralization ~150 metres east of the current mineral resource at Blackjack
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/308820_80cf1b9f84239858_005full.jpg
Figure 4: Examples of visible gold observed in DDRCCC-26-132.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/308820_80cf1b9f84239858_006full.jpg
Figure 5: Examples of drill core from hole DDRCCC-26-132 showing high density of sheeted quartz veins cutting metasediments and quartz monzonite starting from 529.5 m at Blackjack (part of the interval that returned 218.6 m of 1.25 g/t gold, including 44.4 m of 3.86 g/t gold).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/308820_80cf1b9f84239858_007full.jpg
The 2026 drill program continues to successfully intersect broad zones of Reduced Intrusion-Related Gold (RIRG) mineralization at the Blackjack, Eiger, and Rhosgobel deposits and continues to expand and define the known gold mineralization at each area. The program will continue to define these broad zones of mineralization as well as target new zones of previously defined mineralization such as the Pukelman/Contact zones, Saddle zone and Bear Paw Breccia zone.
* While visible gold observations are very encouraging and confirm the presence of gold mineralization, they are not intended to imply potential gold grades. Gold assays will be published after they are received from the lab for mineralized intervals in which visible gold particles were noted.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/308820_80cf1b9f84239858_008full.jpg
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/308820_80cf1b9f84239858_009full.jpg
Figure 6: Longitudinal section showing locations of several of the intrusion targets and the current gold resources within the Clear Creek Intrusive Complex. A 60,000 metre diamond drilling program planned for 2026 will focus on further expansion of the 2 km long Blackjack-Eiger area with 15,000 metres of drilling. An additional 30,000 metres of drilling is planned at Rhosgobel to follow up on the initial diamond drilling conducted by Sitka in 2025. 10,000 metres of drilling has been allocated for the Pukelman-Contact zone and 5,000 metres of drilling will follow up on initial drilling results from Bear Paw and test other high-priority targets.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/308820_80cf1b9f84239858_010full.jpg
Figure 7*: A plan map of the Clear Creek Intrusive Complex (CCIC) showing the updated resource areas at Blackjack and Eiger, and the six additional areas that have drill targets indicated by the mauve hatched areas. The map highlights the numerous drill targets that Sitka has outlined within the CCIC which all are connected by the road network on the project and occur in an area measuring five (5) km north-south and twelve (12) km east-west. Additional areas highlighted by strong gold in soil anomalies are being advanced to the drill ready stage with additional geological work planned in 2026.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/308820_80cf1b9f84239858_011full.jpg
* References for Figure 7 drilling intervals:
Rhosgobel Intervals: Sitka Gold News Release dated November 25, 2024
Pukelman Intervals: Sitka Gold News Release dated January 7, 2025
Contact Intervals:
O'Brien, 2010; Assessment Report, 2010 Diamond Drilling Program, Clear Creek Property (Assessment report 095539)
Shutty, 2011; Assessment Report, 2011 Exploration Program, Clear Creek Property (Assessment Report 095984)
Bear Paw Intervals: Shutty, 2011; Assessment Report, 2011 Exploration Program, Clear Creek Property (Assessment Report 095984)
About the RC Gold Project
Sitka's 100% owned, flagship RC Gold Project consists of a 447 square kilometre contiguous district-scale land package located in the heart of Yukon's Tombstone Gold Belt. The project is located approximately 100 kilometres east of Dawson City, which has a 5,000 foot paved runway, and is accessed via a secondary gravel road from the Klondike Highway which is usable year-round and is an approximate 2 hour drive from Dawson City. It is one of the largest consolidated land packages strategically positioned mid-way between the Eagle Gold Mine and the past producing Brewery Creek Gold Mine.
The RC Gold Project hosts an indicated MRE of 1,291,000 ounces of gold and an inferred MRE of 3,829,000 ounces of gold (see Table A below) hosted within three at surface, road-accessible pit constrained deposits. The 60,000 metre drill program planned for 2026 is focused on expanding all three known deposits in addition to testing other high potential targets in close proximity to the current resources.
Table A: Summary of Gold Mineral Resources at the RC Gold Project
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/308820_tablesitka.jpg
* Notes for Blackjack Resources:
- Mineral resource estimate prepared by Ronald G. Simpson of GeoSim Services Inc. with an effective date of January 21, 2025.
- Mineral Resources are estimated consistent with CIM Definition Standards and reported in accordance with NI 43-101.
- Mineral resources are not mineral reserves and do not have demonstrated economic viability.
- Mineral resources are constrained by an optimized pit shell using the following assumptions: US$2000/oz Au price; a 45° pit slope; assumed metallurgical recovery of 85%; mining costs of US$2.00 per tonne; processing costs of US$10.00 per tonne; G&A
- of US$4.00/t.
- The base case cut-off of 0.3 g/t Au is believed to provide a reasonable margin over operating and sustaining costs for open-pit mining and processing
- Totals may not sum due to rounding.
** Notes for Rhosgobel and Eiger Resources:
- Mineral resource estimate prepared by Ronald G. Simpson of GeoSim Services Inc. with an effective date of February 25, 2026
- Mineral Resources are estimated consistent with CIM Definition Standards and reported in accordance with NI 43-101.
- Mineral resources are not mineral reserves and do not have demonstrated economic viability.
- Mineral resources are constrained by an optimized pit shell using the following assumptions: US$3000/oz Au price; a 45° pit slope; assumed metallurgical recovery of 85%; mining costs of US$2.50 per tonne; processing costs of US$14.00 per tonne; G&A of US$4.00/t.
- The base case cut-off of 0.3 g/t Au is based on a gold price of US$2500/oz and believed to provide a reasonable margin over operating and sustaining costs for open-pit mining and processing
- Totals may not sum due to rounding.
All of these deposits begin at surface and are potentially open pit minable. Initial bottle roll metallurgical testing confirmed the non-refractory characteristics of the gold mineralization and returned gold extraction rates averaging around 85% for the Blackjack and Eiger deposits. Further metallurgical testwork in 2024 for Blackjack and Eiger returned recoveries ranging from 77.6 to 93% for gravity followed by cyanidation. Initial bottle roll testing for Rhosgobel has confirmed non-refractory characteristics of the gold mineralization with two composite samples returning gold recoveries of 89% and 96%. Additional metallurgical testing at Rhosgobel has returned an average gold recovery of 94.3% using conventional whole ore cyanidation leaching and an initial recovery of 84.7% tungsten in rougher concentrate using conventional flotation. Metallurgical testing for potential silver recovery has not yet been completed.
For the purposes of the current resource model, it is assumed that a likely mill flowsheet would consist of a gravimetric, flotation, and cyanidation circuit.
Upcoming Events
Sitka Gold will be attending and/or presenting at the following events*:
- Precious Metals Summit: Beaver Creek, Colorado: September 22 - 25, 2026
- Denver Gold Show: Colorado Springs, Colorado: September 27 - 30, 2026
*All events are subject to change.
Corporate Update
The Company also announces that all of the 7,255,946 warrants and 737,248 Finder's warrants that were issued in relation to its private placement that closed on August 2, 2024 have been exercised for a total amount of $3,037,414 (see news release dated August 2, 2024).
About Sitka Gold Corp.
Sitka Gold Corp. is a well-funded mineral exploration company headquartered in Canada. The Company is managed by a team of experienced industry professionals and is focused on exploring for economically viable mineral deposits with its primary emphasis on gold, silver and copper mineral properties of merit. Sitka is currently advancing its 100% owned, 447 square kilometre flagship RC Gold Project located within the Tombstone Gold Belt in the Yukon Territory. The Company has also announced plans to spin-out the Alpha Gold Project in Nevada and the Burro Creek Gold and Silver Project in Arizona into a new discovery-focused exploration company to be named at a later date.
A 60,000 metre diamond drilling program planned for 2026 is currently underway at the Company's flagship RC Gold Project, located in Yukon Canada, where six diamond drill rigs are currently operating.
*For more detailed information on the Company's properties, please visit our website at www.sitkagoldcorp.com
Quality Assurance/Quality Control
On receipt from the drill site, the HTW/NTW-sized drill core was systematically logged for geological attributes, photographed and sampled at Sitka's core logging facility. Sample lengths as small as 0.3 m were used to isolate features of interest, otherwise a default 2.0 m downhole sample length was used. Each sample is identified by a unique sample tag number which is placed in the bag containing the core to be assayed. Core was cut in half lengthwise along a predetermined line, with one-half (same half, consistently) collected for analysis and one-half stored as a record. Standard reference materials, blanks and duplicate samples were inserted by Sitka personnel at regular intervals into the sample stream. Bagged samples were placed in secure bins to ensure integrity during transport. They were delivered by Sitka personnel or a contract expeditor to ALS Laboratories' preparatory facility in Whitehorse, Yukon, with analyses completed in North Vancouver.
ALS is accredited to ISO 17025:2005 UKAS ref. 4028 for its laboratory analysis. Samples were crushed by ALS to over 70 per cent passing below two millimetres and split using a riffle splitter. One-thousand-gram splits were pulverized to over 85 per cent passing below 75 microns. Gold determinations are by fire assay with an inductively coupled plasma atomic emission spectroscopy (ICP-AES) finish on 50 g subsamples of the prepared pulp (ALS code: Au-ICP-22). Any sample returning over 10 g/t gold was re-analyzed by fire assay with a gravimetric finish on a 50 g subsample (ALS code: Au-GRA21). In addition, a 51-element analysis was performed on a 0.5 g subsample of the prepared pulps by an aqua regia digestion followed by an inductively coupled plasma mass spectroscopy (ICP-MS) finish (ALS code: ME-MS41). All drill core at the Rhosgobel Deposit was selected for additional XRF analysis on a lithium borate fusion (ALS code: XRF-15b) for WO3.
Scientific and technical content of this news release has been reviewed and approved by Gilles Dessureau, P.Geo., V.P. Exploration of the Company, and a Qualified Person (QP) as defined by National Instrument 43-101.
Mr. Dessureau has verified the data disclosed in this news release, including the sampling, analytical and test data underlying the disclosure, through multiple visits to drill sites and regular review of the QA/QC procedures applied to analytical results received from ALS Laboratories. No limitations or failures to verify were identified that could materially affect the results.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SITKA GOLD CORP.
"Cor Coe"
CEO and Director
For more information, please contact:
Sitka Gold Corp.
+1-604-979-0509
info@sitkagoldcorp.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary and Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions and the Company's anticipated work programs.
Such forward-looking information and statements are based on numerous assumptions, including among others, that the Company will carry out its exploration plans as currently anticipated by management. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, market uncertainty, risks related to exploration and the results of the Company's anticipated work programs.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/308820
Source: Sitka Gold Corp.
