The company reported that 2024 drilling at Rhosgobel indicates gold mineralization extends at least 250 meters beyond the depth of previous reverse circulation drilling, which had stopped in mineralization at 70 meters. Assay results for the drill holes are still pending.
Following the release, Sitka Gold’s shares were trading at C$0.41, valuing the company at C$128 million ($93 million).
Currently, Sitka has two drills operating at the RC Gold property and is awaiting results from several drill holes, including DDRCCC-24-068, where more than 40 instances of visible gold were recorded from near-surface (4 meters) to a depth of 680 meters.
“The visual results from the first two diamond drill holes ever completed at the Rhosgobel gold target have exceeded our expectations, with multiple occurrences of visible gold observed,” said Cor Coe, CEO of Sitka Gold.
Sitka Gold’s RC project, located 100 km east of Dawson, spans 376…
