Sitka Gold Corp V.SIG

Sitka Drills 85.0 Metres of 1.12 Grams per Tonne Gold and Re

[whytestocks]

BREAKING NEWS: $SITKF Sitka Drills 85.0 Metres of 1.12 Grams per Tonne Gold and Reviews 2024 Highlights at the RC Gold Project in YukonVancouver, British Columbia--(Newsfile Corp. - January 7, 2025) - Sitka Gold Corp. (TSXV: SIG) (FSE: 1RF) (OTCQB: SITKF) ("Sitka" or the "Company") is pleased to summarize the highly successful 2024 exploration season and announce final results from the 2024 diamond drilling program conducted a...SITKF - Sitka Drills 85.0 Metres of 1.12 Grams per Tonne Gold and Reviews 2024 Highlights at the RC Gold Project in Yukon

[Bumper]

Hello, are this good results? Regards.  

[givemeabreak1]

If the drill results were from surface they would be a good result but it is not from surface.  Unfortunately, they need to go through alot of waste material to access the gold.  So they have 150.5m of .6 gpt in hole 72 close to surface.  Now here is where the problem lies they now have to go from 170m to 433m in depth to access the 85 m of 1.12 gpt.    So they need to

[jambon379]

Unless they go to block cave mining. According to Quinton Hennigh a viable option.  Currently being successfully employed by Imperial Metals at Red Chris.

[givemeabreak1]

Red Chris is a Copper Gold Project with like a 30 year mine life!   

[BruceJack]

Block caves are low cost LOM producers but require immense up front capital. Red Chris in 2021 dollars required 2.1B$ in up front capital. Sure it has a 31 year life but only a major is going to commit that level of funding. SIG needs to prove up a lot more before block caving becomes a realistic alternative.

[jambon379]

Agreed.  2025 will be a significant year for Sitka. The good news is that they are well funded going into this year.

[givemeabreak1]

New Afton is Block Caving in Canada.  Here is the grades they are hitting and again it is a Copper Gold Project!  While Sitka is hitting some nice grades they are only nice if they were from surface.  You are not block caving stuff they are hitting and making much money and today no one is going to spend the Cap Ex required without it being a robust project and so far nothing

[givemeabreak1]

And do not forget for someone like New Afton all the infastructure is already in place and paid for and even then the costs are enormous so the project needs to be robust!

[KingMidas]

Some people here are putting the cart well in front of the horse. Hell, the cart isn't even attached! Let's get the resources delineated and modeled before we worry about the method of mining. Some of these bodies only have 2 drill holes in them. Let's come back to this in a few more years.

[megacopper]

  Well you have to take a position now because in a few years when Sitka has several multi million ounce gold deposits proven up the share price will be well north of a dollar. But yes it is all just speculation at this point for the most part but where there's smoke there's fire. And Sitka is seeing a lot of smoke. I like their chances. Really good buy here below 30 cents in my

[jambon379]

Doubt that it will take "a few years".  The end of 2025 will give a much clearer picture.