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Sitka Gold - Expands RC Gold With New Discoveries, 2026 Major Drilling Plans

The KE Report Jan 21, 2026

Summary

Blackjack resource more than doubled to over 2M oz at ~1 g/t in 2025 — 1M indicated (drill-defined), 1.2M inferred (early estimate); stock returned 169%.

Rhosgobel discovery defines ~1.1 km of mineralized strike at surface with tungsten alongside gold; an initial resource estimate is the next near-term catalyst.

Sitka is doubling 2026 drilling to ~60,000 m, with 10-15k metres earmarked for the new Bearpaw, Contact, and Pukelman zones.

Treasury of $45M+ covers the program; metallurgical, environmental baseline, and water/wildlife work runs in parallel toward future economic studies.

Low drill costs of $350/m CAD reflect the project's two-hour drive from Dawson City's paved-runway airport.

Key points on Sitka Gold Corp

  • Mike Burke says Sitka Gold is doubling its 2025 program to a planned 60,000-metre drill program in 2026, with the aim of fully defining deposit sizes at RC Gold and reaching economic studies by year-end.
  • Burke recounts that the Blackjack resource estimate was updated in January 2025 to over 1 million ounces indicated at roughly 1 g/t plus 1.2 million ounces inferred, totaling more than 2 million ounces at about a gram per tonne.
  • Burke describes the Rosgobel target as a developing third deposit: 41 holes and 12,000 metres drilled in 2025 have outlined mineralization across 975+ metres of strike length, still open in every direction with 15 holes pending.
  • Burke highlights that re-analysis of a 2024 Rosgobel hole returned about 0.1% tungsten over 170 metres, suggesting tungsten could become a meaningful by-product alongside gold, with further tungsten re-assays still pending.
  • Burke notes the company has over $45 million in treasury, fully funding the 2026 program, and benefits from low drilling costs of about $350/m CAD thanks to the project's proximity to paved Dawson City infrastructure.

Mike Burke's takeaways

  • Top takeaway Burke argues the three deposits (Blackjack, Eiger, Rosgobel) form a large connected mineralized system in the Clear Creek Intrusive Complex, and he plans to allocate 10-15,000 metres of the 2026 drill program to follow up on Bearpaw, Contact and Pukleman zones.
  • Burke frames new zones like Contact and Bearpaw as incremental additions to a developing gold base rather than standalone 2-5 million ounce deposits, arguing that near-surface higher-grade ounces could be sequenced early in a future mine plan to lift project economics.
  • Burke sees potential for additional plus-million-ounce discoveries across untested intrusions on the property, including Pukleman, Josephine, and the Big Creek stock soil geochem anomaly.
  • Burke stresses that background de-risking work — baseline environmental, water/wildlife and additional metallurgical studies — is essential to advancing the project toward a PEA.