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Sitka Gold - Expanding the Rhosgobel Gold and Tungsten Footprint at the RC Gold Project

The KE Report Sep 9, 2026 13:48

Summary

Hole 71 at Rhosgobel returned 159m of 1.14 g/t gold within 257m of 0.84 g/t gold, validating a north-northwest structural theory.

The deposit remains open in every direction: strike now spans 1.6 km, with step-out holes extending mineralization over 100m below the prior resource shell.

Scheelite (a tungsten mineral) sits within the same gold-bearing quartz veins, potentially providing a meaningful economic byproduct credit.

Seven drill rigs are turning across six targets at the RC Gold Project, with 43,000 of a planned 60,000 meters already complete this season.

Burke frames Rhosgobel as a cornerstone open-pit deposit; the team is growing resource size first, then upgrading inferred ounces into higher confidence categories.

Key points on Sitka Gold Corp

  • Headline hole 71 returned 159m of 1.14 g/t gold within a broader 257m intercept of 0.84 g/t gold, and 18 of the 19 holes in the news release hit significant mineralization above the cutoff grade, per Mike Burke.
  • The Rhosgobel deposit now stretches along a 1.6 km strike length, with the company extending drilling 100m east of the 2025 program and additional holes pending a further 250m east where visible gold, sheeted veins and tungsten mineralization have been logged.
  • Hole 58 extended mineralization at least 100m below the current pit-defined resource, which Burke says signals the pit shell could grow deeper and continue to support an open-pit scenario.
  • The deposit sits at 2.25 million ounces after roughly a year of drilling, and Burke emphasizes the limits have not yet been defined, with 30,000m of a planned 60,000m program allocated to Rhosgobel this year.
  • Tungsten is consistently associated with the gold-bearing veins and could become a meaningful byproduct in future economic studies, and a >1 g/t near-surface zone in the eastern part of the project is highlighted as economically significant.

Cory Fleck's takeaways

  • Top takeaway Fleck frames the discussion around resource growth and de-risking, repeatedly asking how expanding drilling and any infill work will move the deposit from inferred toward indicated categories.
  • He probes the depth and underground-versus-open-pit transition question, prompting Burke to explain that the near-surface open-pit focus remains and that no underground chase is warranted at Rhosgobel yet.

Mike Burke's takeaways

  • Top takeaway Burke argues that the Rhosgobel deposit is far from defined and that ongoing drilling will continue to expand it along strike and at depth, calling it a 'real cornerstone near surface open pit deposit' driving project economics.
  • He is interpreting small north-northwest structural offsets intersecting the main east-west trend, which he says will guide drilling east and west of the deposit to avoid missing the main zone at its edges.
  • He maintains the focus is on near-surface open-pit mineralization, with current holes reaching 300-400m depths, and explicitly contrasts this with Blackjack where the deepest hole has reached 1.1 km.
  • He frames tungsten as a promising value-add byproduct that Sitka will incorporate into future economic studies, noting it shares the same veining as the gold mineralization.
  • He outlines a deliberate sequencing ā€” grow the deposit size first, then move into infill drilling to lift resource confidence by year-end, especially in the higher-grade >1 g/t near-surface eastern zone.