Post by
Westcoastwalker on Feb 17, 2023 12:45pm
Trading for peanuts?//
CONCLUSION: Considering that 11,000 meters of drilling was sufficient for the initial resource estimate of 1.34 million ounces of gold at Blackjack/Eiger, there is a real chance that the 10,000 meters of drilling now planned can significantly expand and, if successful, possibly even double that resource estimate. Since the previous season, geologists have developed a much better geological picture of the gold deposits on the project. Therefore, it is likely that the new drilling will be even more targeted, which could increase its efficiency. As a reminder, in the higher-grade Blackjack zone, 20 drill holes have been sufficient to define 900,000 ounces. Blackjack to the west and Eiger to the east are about 2 km apart. The thesis Sitka plans to test with the upcoming drilling is: Is the entire corridor between the two discoveries mineralized? At the latest, if Sitka can convince investors that the Blackjack, Saddle (in the middle) and Eiger deposits will merge into one project, its days as a micro-cap are likely numbered. Currently, Sitka is trading at just CAD 20 million in market value. We also look forward to news from Sitka's Carlin-style Alpha Gold discovery in Nevada. Samples should be back from the lab soon.
Comment by
Westcoastwalker on Feb 17, 2023 12:48pm
Sorry wrong board Same bs though