Gold Is Glittering; This Yukon Junior Just Found It Everywhere They're Drilling
The gold market is running hot and junior miners with proven ground are drawing serious attention from investors hungry for leverage to the metal. With spot gold holding at elevated levels and major producers scouring for acquisition targets to replace depleting reserves, district-scale exploration projects with multi-million-ounce resource potential are commanding a premium. The Yukon's Tombstone Gold Belt, home to some of Canada's most storied gold discoveries, is once again at the center of that conversation.
Shares of Sitka Gold Corp. (TSX-V: SIG) (OTCQX: SITKF) are moving Wednesday after the company announced a compelling update from its 2026 diamond drilling program at the RC Gold Project in the Yukon Territory, where visible gold has been confirmed in every drill hole completed so far this season.
The headline from the update is simple and difficult to ignore: multiple occurrences of visible gold have been observed in all initial 2026 drill holes at both the Blackjack and Rhosgobel deposit targets. The company is 5,500 metres into a planned 60,000 metre program, with six holes completed and four additional holes currently in progress. Four diamond drill rigs are active on the property with two more expected to mobilize in the coming weeks.
At the Rhosgobel target, early drilling is also intersecting coarse scheelite crystals, a common tungsten mineral, adding a potential secondary metal optionality to a program already generating positive visual results. Rhosgobel carries a current pit-constrained inferred resource of 2.25 million ounces of gold and the 2026 program includes 30,000 metres dedicated to expanding that footprint both at depth and along strike.
At Blackjack, initial 2026 holes are targeting deeper mineralization below previously reported high-grade intercepts including 45 metres of 4.52 g/t gold and a separate intercept of 65 metres of 2.0 g/t gold. The current drilling is designed to demonstrate continuity of that higher-grade mineralization at depth and establish the foundation for a potential underground resource scenario.
The RC Gold Project is a 447 square kilometre land package situated midway between the Eagle Gold Mine and the past-producing Brewery Creek Gold Mine. The project hosts a combined resource of 1.29 million indicated ounces and 3.83 million inferred ounces across three surface-accessible deposits. All assays from the current program remain pending.
"Visual results from the initial 2026 drilling at our RC Gold Project are highly encouraging," said CEO Cor Coe, noting the company's intent to simultaneously expand known deposits while testing additional high-priority targets believed to host new gold discoveries.
Shares of SIG are up 8.9% to C$0.98 and shares of SITKF are ahead 7.1% to $0.71 in Wednesday afternoon trading.
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