“The results of the first two diamond drill holes ever drilled at the Rhosgobel intrusion target have exceeded our expectations,” Car Coe, Sitka CEO and director, said in a news release. “Rhosgobel is the largest intrusion target within the Clear Creek Intrusive Complex and these holes have confirmed that robust gold mineralization persists here to a vertical depth of at least 300 metres.”
The assay results follow initial reports of visible gold at Rhosgobel in early October, when the diamond drill program started.
Sitka shares gained 16% to 40¢ apiece on Monday morning in Toronto, valuing the company at C$127.3 million. Its shares traded in a 52-week range of 13¢ to 57¢.
Drill hole DDRCRG-24-002 returned 173.3 metres at 0.6 gram gold from 97 metres depth, including 28.4 metres grading 1.37 grams gold, 12.4 metres at 2.43 grams gold, and 1.1 metres at 8.99 grams gold.
The results also confirmed…
