Northern Graphite, Rain Carbon to develop natural graphite battery anode
Their innovation will address the stability gap between natural and synthetic graphite.
Sitka Gold (CSE: SIG) shares rose on Wednesday after announcing the discovery of multiple instances of visible gold in the first two diamond drill holes completed at Rhosgobel, an intrusion-related gold deposit target.
Rhosgobel is located about 5 kilometres south of the Blackjack deposit within the company’s RC gold project in Canada’s Yukon Territory.
Sitka reported that 2024 drilling at Rhosgobel indicated gold mineralization extends at least 250 metres beyond the depth of previous reverse circulation drilling, which had stopped in mineralization at 70 metres. Assay results for the drill holes are still pending.
Following the release, Sitka Gold’s shares were trading at C$0.41, valuing the company at C$128 million ($93 million).
Currently, Sitka has two drills operating at the RC gold property and is awaiting results from several drill holes, including one that recorded 40 instances of visible gold from near-surface (4 metres) to a depth of 680 metres.
“The visual results from the first two diamond drill holes ever completed at the Rhosgobel gold target have exceeded our expectations, with multiple occurrences of visible gold observed,” Sitka CEO Cor Coe said in a news release.
The RC project, located 100 km east of Dawson, spans 376 sq. km. and holds an inferred gold resource of 1.34 million oz. contained in the Blackjack and Eiger gold deposits.
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