Sitka Gold Completes 60,000 Metre Diamond Drill Program at Its RC Gold Project in Yukon; Appoints Termuende as Chairman of the Board
Sitka completes program with 30,242 m of pending assays serving as the primary catalyst for future grade and width results.
Sitka Gold Corp. (SIG) announced the completion of its planned 60,000 m diamond drill program at RC Gold, totaling 59,531 m across 149 holes. Assay results have been received and announced for 59 of these holes, while results remain pending for 90 holes, which account for approximately 30,242 m of drilling.
The release recapped the October 14, 2026 result from hole DDRCCC-26-156 at the Saddle Zone, which returned 236.0 m at 1.15 g/t Au, including 71.0 m at 2.79 g/t Au, including 36.3 m at 3.31 g/t Au. No new assay table, from-to depths, cutoff grade, or true width was provided for this recapped hole in the current release.
Geologically, the company reported visible gold in a mineralized lamprophyre at the Pukelman intrusion in hole DDRCCC-26-190 at a depth of 150.26 m. Assays for this interval are pending, and Sitka explicitly stated that the observation of visible gold is not intended to imply grades. The release also noted a dominant lamprophyre dyke linking the Blackjack, Saddle, and Eiger zones, as well as broad RIRGS mineralization across Rhosgobel, Blackjack, Saddle, Eiger, Pukelman/Contact, and Bear Paw. The company plans to update and upgrade resources at Blackjack, Eiger, and Rhosgobel, and to evaluate maiden resources at Pukelman/Contact and Bear Paw.
In corporate news, Tim Termuende was appointed to the Board and as Chairman, effective immediately. The resource estimate remains unchanged at 1,291,000 oz Au indicated plus 3,829,000 oz Au inferred, based on a 0.3 g/t Au cutoff. The estimate assumes non-refractory metallurgy with reported recoveries of 77.6% to 93% for Blackjack/Eiger and an average of 94.3% for Rhosgobel.
Sitka Gold Corp. (SIG) has completed its 60,000-meter drilling program, an operational milestone that the market anticipated as results were released in batches. The company maintains a large, road-accessible, low-grade RIRGS district with 5.12 moz of gold resources, which are mostly inferred, with no reserves and no preliminary economic assessment. The recent appointment of a new chairman serves as a governance positive but does not materially impact net asset value, resource scale, or mine economics. Additionally, visible-gold observations reported by Pukelman are not assay data and do not alter the existing resource model.
The primary catalyst for the project remains the 30,242 m of pending assays across 90 holes. These results are expected to focus on Pukelman/Contact and Bear Paw, where maiden resources could emerge, as well as Saddle, Eiger, and Rhosgobel, where step-outs could expand the existing resource. Sitka Gold is an advanced explorer with a C$356 million market cap rather than a micro-cap discovery story. Consequently, a single recapped 236 m intercept does not fundamentally re-rate the company; a new multi-million-ounce deposit at Pukelman/Contact would be required for such a shift.
Market reaction to previous data provides context for this release. The last hard result, DDRCCC-26-156, was released on October 14, 2026. The stock closed at C$0.93 that day and drifted to C$0.82 by October 26, 2026. The market did not embed that result as a new high bar. This release does not beat that previous result, but it also does not miss it because there is no new assay data included in this announcement.
Sitka Gold Corp. (TSXV: SIG; OTCQX: SITKF; FSE: 1RF) is a gold exploration company focused on the 100% owned, 447 sq km RC Gold Project in Yukon’s Tombstone Gold Belt. The project is road-accessible, located about 100 km east of Dawson City, and features three at-surface, pit-constrained deposits: Blackjack, Rhosgobel, and Eiger.
Current resources total 1,291,000 oz Au indicated and 3,829,000 oz Au inferred, at a 0.3 g/t Au cutoff. Blackjack holds the indicated resource, while Rhosgobel and Eiger are classified as inferred. Metallurgy is non-refractory. Reported recoveries are 77.6%-93% for Blackjack/Eiger via gravity plus cyanidation, and 94.3% average for Rhosgobel via whole-ore cyanidation, with 84.7% tungsten recovery in rougher concentrate.
The 2026 program consisted of 60,000 m in 149 holes; 59 holes have been reported and 90 holes remain pending. Sitka also plans to spin out its Alpha Gold (Nevada) and Burro Creek (Arizona) assets into a new discovery-focused company.
Prior-period context not disclosed in today’s release includes FY2025 financials showing C$44.6 million cash, C$84.96 million total equity, C$4.6 million SG&A and a C$5.9 million net loss. Q1 2026 MD&A reports C$43.5 million cash, C$33.8 million working capital and no interest-bearing debt.