Sitka Reports 94.3% Gold Recovery and 84.7% Tungsten Recovery from Metallurgical Testing at the Rhosgobel Deposit at Its Rc Gold Project, Yukon
Metallurgical validation de-risks Rhosgobel economics but cash burn remains high
Sitka Gold Corp. announced on May 4, 2026, positive initial metallurgical testwork results for its Rhosgobel Gold Deposit at the RC Gold Project in Yukon. The company reported an average gold recovery of 94.3% using conventional whole ore cyanidation leaching (CIL/CIP) and a tungsten recovery of 84.7% via flotation with less than 1% mass pull. These results confirm the mineralization is non-refractory. Concurrently, the company noted its ongoing 60,000 m diamond drill program for 2026, with 30,000 m allocated to Rhosgobel and four rigs currently active. This news follows a series of announcements in early 2026 regarding resource estimates (March/April), tungsten mineralization confirmation (April), and a corporate spin-out plan (March).
The metallurgical results are Routine - Positive. While the high recovery rates (94.3% Au, 84.7% W) are excellent for project economics, this news was anticipated following the April 15 announcement which stated "Initial metallurgical testwork is currently in progress." The confirmation of non-refractory gold removes a technical risk associated with the newly defined Rhosgobel resource (2.25 Moz Inferred announced Feb/March), but it does not alter the resource count or reserve status itself. The tungsten by-product potential, while valuable, remains an upside lever rather than a primary revenue driver at this stage. Given the company's strong cash position ($45M) and fully funded drill program, this news supports the investment thesis without triggering a material re-rating on its own. It validates previous hints but does not exceed market expectations set by management in Q1 2026 updates.
Sitka Gold Corp. is a gold exploration company focused on its 100% owned RC Gold Project in Yukon's Tombstone Gold Belt. The flagship asset hosts multiple intrusion-related gold deposits including Blackjack (Indicated/Inferred), Eiger (Inferred), and the newly discovered Rhosgobel (Inferred). The project is road-accessible with surface-starting mineralization suitable for potential open-pit mining. The company also holds 100% interests in Nevada (Alpha Gold) and Arizona (Burro Creek) assets, which are planned to be spun out into a separate entity to focus management on the Yukon flagship.