Sitka Drills 156.9 Metres of 1.00 g/t Gold, Including 94.0 Metres of 1.41 g/t Gold and 38.0 Metres of 2.03 g/t Gold, Significantly Expanding Known Mineralization at the Rhosgobel Discovery, RC Gold Project, Yukon
Rhosgobel Strike Expansion to 975m Validates District-Scale Potential as Sitka Secures Massive 60,000m Drill Budget
The most recent news release (January 6, 2026) reports significant diamond drill results from the Rhosgobel discovery at the RC Gold Project in Yukon. Key highlights include hole DDRCRG-25-027, which returned 156.9 metres of 1.00 g/t gold from surface. This news confirms that the mineralized envelope at Rhosgobel has been expanded by 400 metres, with a confirmed strike length now reaching 975 metres. Notably, 19 of the 28 holes reported from this zone to date have exceeded 100 gram-metres (grade multiplied by thickness), a common benchmark for potential economic viability in bulk-tonnage deposits. The company also confirmed its treasury sits at approximately $45 million CAD, which fully funds a massive 60,000-metre drill program for 2026.
This news is materially positive for three primary reasons: - Strike Continuity: Confirming a near-kilometre strike length (975m) that remains open in all directions significantly de-risks the Rhosgobel discovery as a potential third multi-million ounce deposit on the property, alongside Blackjack and Eiger. - Exceptional Efficiency: 19 out of 28 holes returning >100 gram-metres is a high success ratio for a Reduced Intrusion-Related Gold System (RIRGS), suggesting strong internal continuity of the gold system. - Financial Strength: The transition from a $15M treasury in early 2025 to $45M by year-end (following major October/November financings) removes "going concern" risk for the 2026 season. The commitment to a 60,000m program—doubling previous efforts—suggests management is moving aggressively toward a major resource update or a potential M&A exit.
Sitka Gold Corp. is focused on the RC Gold Project in the Tombstone Gold Belt, Yukon. The project is road-accessible and covers 431 sq km. - Flagship Project: RC Gold Project. - Current MRE (Jan 21, 2025): Indicated: 1.29 Moz (1.01 g/t) at Blackjack; Inferred: 1.48 Moz (combined Blackjack/Eiger). - Development Stage: Advanced exploration/Resource expansion. - Royalties: The property is subject to various 2% to 5% NSRs, many with buy-back provisions (e.g., buying back 60% of a 5% NSR for $10M).