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Globe and Mail
a day ago
- Business
- Globe and Mail
Sitka Intersects Multiple Occurrences of Visible Gold from near Surface in Initial Six Diamond Drill Holes Completed at the Contact Zone, RC Gold Project, Yukon
Visible gold observed in first six diamond drill holes drilled at the Contact zone Drilling to date has traced mineralization along a strike of approximately 900 m and to a depth of approximately 430 m from surface at the Contact zone Visible gold has now been observed in drill core from all five targets drilled within the Clear Creek Intrusive Complex this year First drilling completed since 2010/2011 that produced historical intersections in Contact zone of 38.3 m of 1.54 g/t gold, 74.3 m of 1.01 g/t gold and 43.4 m of 1.20 g/t gold in Holes CC11-043, 044, 045 respectively and 10.7 m of 20.46 g/t gold in CC10-22 Six holes totalling 2,172 m completed as part of the ongoing 5,000 m of drilling planned at Contact-Pukelman target Drilling has also recently commenced at the Bear Paw target Results are currently pending for all holes drilled at Contact-Pukelman along with holes completed across Blackjack, Saddle, Eiger, Rhosgobel and Bear Paw Over 25,000 metres of the ongoing 30,000 m planned drill program completed with assays currently pending for 52 holes Vancouver, British Columbia--(Newsfile Corp. - August 19, 2025) - Sitka Gold Corp. (TSXV: SIG) (FSE: 1RF) (OTCQB: SITKF) ("Sitka" or the "Company") is pleased to announce that multiple occurrences of visible gold have been observed, beginning near surface, in the first six drill holes to be completed by the Company at the Contact zone. Visible gold has now been observed in the drill core from every target that has been drilled within the Clear Creek Intrusive Complex so far this year, including Blackjack, Saddle, Eiger and Rhosgobel. Up to 5,000 metres of drilling is currently underway at the Contact-Pukelman zone (see Figures 3, 4 and 6) as part of the fully funded 30,000 metre diamond drill program currently underway at Sitka's 100% owned, road accessible RC Gold Project located in the Yukon's prolific Tombstone Gold Belt. Over 25,000 metres of drilling has been completed at RC Gold this year where drilling has focused on growing the Blackjack and Eiger deposits, expanding the mineralized footprint of the Saddle zone, and testing the potential of the Rhosgobel, Contact-Pukelman and Bear Paw targets to host additional intrusion-related gold deposits. Four drill rigs are currently operating on the Project with two rigs at Pukelman, one rig at Rhosgobel and one rig at Bear Paw (see Figure 6) with assay results currently pending for 52 holes. "The Contact zone is now the fifth target drilled by Sitka Gold in 2025 to yield multiple occurrences of visible gold within the core of the Clear Creek Intrusive Complex," said Cor Coe, CEO and Director of Sitka Gold. "The widespread and robust gold mineralization being intersected in our drilling across this area continues to demonstrate that the RC Gold project is a unique gold camp with multiple intrusions that display the potential to host several multi-million ounce gold deposits within this relatively small 3 by 5 kilometre core area. With an existing multi-million ounce gold resource open for expansion and numerous other high-quality targets within the 431 square kilometre land package, RC Gold is quickly emerging as the foundation of a potential new mining district in the Yukon." Figure 1: Examples of coarse visible gold (VG) observed in drill core at the Contact Zone. Recent drilling at the Contact Zone has intersected VG in all six holes completed so far this year, including the largest VG particles observed on the property in drill core to date (scale is the same for all pictures). To view an enhanced version of this graphic, please visit: Figure 2: Example of large particles of visible gold seen within a quartz vein in metasedimentary rock in the drill core of DDRCCC-25-115 from 39.4 to 39.7 m length drilled at the Contact zone. To view an enhanced version of this graphic, please visit: Contact-Pukelman Target Six holes totalling 2,172 metres have been completed as part of the ongoing 5,000 metres of drilling planned at the Contact-Pukelman target. Drilling intersected broad intervals of strongly altered metasediments cut by several quartz monzonite, and biotite-feldspar porphyritic dykes, along with abundant, cm scale, sheeted quartz veins. Visible gold was observed in the sheeted quartz veins and was often associated with arsenopyrite, bismuthinite, and minor scheelite (see Figures 1 and 2). Sitka's 2025 drill program is planned to expand the mineralized footprint of the Contact zone, test the zone with oriented diamond drill core to better understand controls on the mineralization and test the linkage between the metasedimentary and intrusion hosted mineralization of the Contact and Pukelman zones. The Contact zone was previously drilled in 2010 and 2011 with 1,660 metres in 12 holes of reverse circulation drilling and 254 metres in 2 holes of diamond drilling (see Table 1) and encountered significant mineralization in quartz veining within metasedimentary rocks up to 450 metres south of the Pukelman intrusion. Current drilling to date has traced gold mineralization across a lateral extent of approximately 900 metres x 650 metres and from surface to a depth of approximately 430 metres (see Figure 3 and Table 1). While this is an encouraging indicator of the potential size of this target, the Company cautions that additional drilling and assay results are required to confirm the extent and continuity of gold mineralization within this area. * While visible gold observations are very encouraging and confirm the presence of gold mineralization, they are not intended to imply potential gold grades. Gold assays will be published after they are received from the lab for mineralized intervals in which visible gold particles were noted. Figure 3: A location map of the Pukelman/Contact area showing the location of drill holes DDRCCC-25-111 to -116. Drilling to date has traced gold mineralization across a lateral extent of approximately 900 m x 650 m and from surface to a depth of approximately 430 m. To view an enhanced version of this graphic, please visit: Table 1: Highlights of reverse circulation drilling from 2010 and 2011 at the Contact zone To view an enhanced version of this graphic, please visit: *Intervals are drilled core length, as insufficient drilling has been completed at this time to determine true widths. (a) O'Brien, 2010; Assessment Report, 2010 Diamond Drilling Program, Clear Creek Property (Assessment report 095539) (b) Shutty, 2011; Assessment Report, 2011 Exploration Program, Clear Creek Property (Assessment Report 095984) Figure 4: Long Section showing target areas within the Clear Creek Intrusive Complex (CCIC), from the Blackjack deposit to the Rhosgobel target and the proposed drilling metres that were allocated as part of the 30,000 metre diamond drilling program planned for 2025. Visible gold has now been observed in drill core from all of the targets drilled this year within the CCIC. To view an enhanced version of this graphic, please visit: Figure 5: Regional map of the RC Gold Project located in the western portion of Yukon's prolific Tombstone Gold Belt. To view an enhanced version of this graphic, please visit: Figure 6: A plan map of the Clear Creek Intrusive Complex (CCIC) showing the updated resource areas at Blackjack and Eiger, and the six additional areas that have drill targets indicated by the mauve hatched areas. The map highlights the numerous drill targets that Sitka has outlined within the CCIC which all are connected by the road network on the project and occur in an area measuring five (5) km north-south and twelve (12) km east-west. Additional areas highlighted by strong gold in soil anomalies are being advanced to the drill ready stage with additional geological work in 2025. To view an enhanced version of this graphic, please visit: About the Flagship RC Gold Project Sitka's 100% owned RC Gold Project consists of a 431 square kilometre contiguous district-scale land package located in the heart of Yukon's Tombstone Gold Belt. The project is located approximately 100 kilometres east of Dawson City, which has a 5,000 foot paved runway, and is accessed via a secondary gravel road from the Klondike Highway which is usable year-round and is an approximate 2 hour drive from Dawson City. It is the largest consolidated land package strategically positioned mid-way between the Eagle Gold Mine and the past producing Brewery Creek Gold Mine. The RC Gold Project now has pit-constrained mineral resources that are contained in two zones: the Blackjack and Eiger gold deposits with 1,291,000 ounces of gold in 39,962,000 tonnes grading 1.01 g/t gold in an indicated category and 1,044,000 ounces of gold in 34,603,000 tonnes grading 0.94 g/t in an inferred category at Blackjack and 440,000 ounces of gold in 27,362,000 tonnes grading 0.50 g/t gold in an inferred category at Eiger. These resource estimate numbers are supported by the recently updated technical report for RC Gold, prepared in accordance with NI 43-101 standards, entitled "Clear Creek Property, RC Gold Project NI 43-101 Technical Report Dawson Mining District, Yukon Territory", prepared by Ronald G. Simpson, P. Geo., of GeoSim Services Inc. with an effective date of January 21, 2025. This report is available on SEDAR+ ( and on the Company's website ( Both of these deposits begin at surface, are potentially open pit minable and amenable to heap leaching, with initial bottle roll tests indicating that the gold is not refractory and has high gold recoveries of up to 94% with minimal NaCN consumption (see News Release July 13, 2022). As of the end of 2024, the Company has drilled 72 diamond drill holes into this system for a total of approximately 25,136 metres. Other targets drilled to date include the Saddle, Josephine, Rhosgobel and Pukelman zones. The resource expansion drilling in 2023 at Blackjack produced results of up to 219.0 metres of 1.34 g/t gold including 124.8 metres of 2.01 g/t gold and 55.0 metres of 3.11 g/t gold in drill hole DDRCCC-23-047 (see news release dated September 26, 2023) and in 2024 results of up to 678.1 metres of 1.04 g/t gold starting from surface in DDRCCC-24-068, including 409.5 metres of 1.36 g/t gold, 93.0 metres of 2.57 g/t gold and 5.5 metres of 17.59 g/t gold (see news release dated October 21, 2024). Results from DDRCCC-25-075, completed during winter drilling in 2025, produced the best high-grade intercepts drilled to date at Blackjack, returning 352.8 metres of 1.55 g/t gold including 108.9 metres of 3.27 g/t gold and 45.0 metres of 4.52 g/t gold (see news release dated April 22, 2025). A planned 30,000 metre diamond drilling program for 2025 is currently underway at RC Gold. RC Gold Deposit Model Exploration on the Property has mainly focused on identifying an intrusion-related gold system ("IRGS"). The property is within the Tombstone Gold Belt which is the prominent host to IRGS deposits within the Tintina Gold Province in Yukon and Alaska. Notable deposits from the belt include: Fort Knox Mine in Alaska with current Proven and Probable Reserves of 230 million tonnes at 0.3 g/t Au (2.471 million ounces; Sims 2018) (1); Eagle Gold Mine with current Measured and Indicated Resources of 233 million tonnes at a grade of 0.57 g/t Au at the Eagle Main Zone (4.303 million ounces; Harvey et al, 2022) (2); the Brewery Creek deposit with current Indicated Mineral Resource of 22.2 million tonnes at a gold grade of 1.11 g/t (0.789 million ounces; Hulse et al. 2020) (3); the AurMac Project with an Inferred Mineral Resource of 347.49 million tonnes grading 0.63 gram per tonne gold (7.00 million ounces) (4) and the Valley Deposit, with a current Measured and Indicated Mineral Resource of 7.94 million oz gold at 1.21 g/t and an additional Inferred Mineral Resource of 0.89 million oz at 0.62 g/t gold (5), and the Raven deposit with an inferred mineral resource of 1.1 million oz (19.96 million tonnes at 1.67 g/t gold) (6). The QP has been unable to verify the information regarding the above resource estimations and the information is not necessarily indicative of the mineralization on the property that is the subject of the disclosure. (1) Sims J. Fort Knox Mine Fairbanks North Star Borough, Alaska, USA National Instrument 43-101 Technical Report. June 11, 2018. (2) Harvey N., Gray P., Winterton J., Jutras M., Levy M.,Technical Report for the Eagle Gold Mine, Yukon Territory, Canada. Victoria Gold Corp. December 31, 2022. (3) Hulse D, Emanuel C, Cook C. NI 43-101 Technical Report on Mineral Resources. Gustavson Associates. May 31, 2020. (4) Thornton T., Jutras M., Malhotra D. Technical Report Aurmac Property Mayo Mining District, Yukon Territory, Canada. JDS Energy and Mining Inc. February 6, 2024. (5) (6) Jutras, M. 2022. Technical Report on the Raven Mineral Deposit, Mayo Mining District Yukon Territory, Canada, prepared for Victoria Gold Corp and filed on SEDAR ( with an effective date of September 15, 2022 Upcoming Events Sitka Gold will be attending and/or presenting at the following events*: Precious Metals Summit, Beaver Creek, Colorado: September 9 - 12, 2025 Yukon Geoscience Forum, Whitehorse, YT: November 16 - 19, 2025 Swiss Mining Institute, Zürich, Switzerland: November 19 - 22, 2025 *All events are subject to change. About Sitka Gold Corp. Sitka Gold Corp. is a well-funded mineral exploration company headquartered in Canada. The Company is managed by a team of experienced industry professionals and is focused on exploring for economically viable mineral deposits with its primary emphasis on gold, silver and copper mineral properties of merit. Sitka is currently advancing its 100% owned, 431 square kilometre flagship RC Gold Project located within the Tombstone Gold Belt in the Yukon Territory. The Company is also advancing the Alpha Gold Project in Nevada and currently has drill permits for its Burro Creek Gold and Silver Project in Arizona and the Coppermine River Project in Nunavut, all of which are 100% owned by the Company. *For more detailed information on the Company's properties please visit our website at The scientific and technical content of this news release has been reviewed and approved by Gilles Dessureau, V.P. Exploration of the Company, and a Qualified Person (QP) as defined by National Instrument 43-101. ON BEHALF OF THE BOARD OF DIRECTORS OF SITKA GOLD CORP. " Donald Penner" President and Director For more information contact: Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary and Forward-Looking Statements This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions and the Company's anticipated work programs. These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, market uncertainty and the results of the Company's anticipated work programs. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
Daily Mirror
08-07-2025
- Science
- Daily Mirror
Ashes of 166 people lost after blunder by firm offering 'funerals in space'
The Exploration Company (TEC) is investigating how the ashes were lost during the mission, attempted to have been completed for the American space burial company Celestis The ashes of more than 150 people have been lost - and are unlikely to be recovered - after a company which promises " funerals in space" suffered a catastrophic glitch. The Nyx Mission Possible had seen a module containing the urns orbit the planet twice in late June. It was supposed to return the objects to Earth and the bereaved families but communication with the capsule was lost during re-entry, and it crashed into the Pacific Ocean. In addition to the 166 human remains, the module also carried plant material and cannabis seeds. The cargo was part of an experiment on the effects of microgravity on the cultivation of the plant, with a focus on future missions to Mars. The mission was carried out by TEC for the American company Celestis, which offers memorial flights to space. Celestis has now conceded "it will not be possible to recover or return the flight capsules" and TEC has apologised to customers who had "entrusted [them] with their cargo". Celestis' service sees families send ashes or DNA samples of people and pets for a posthumous tribute. After orbiting Earth, the capsule returns. A video of key moments from the mission is provided to commemorate "the day your loved one touched the sky," Celestis says. The company, founded in 1994, has already sent the remains of people linked to the science fiction work Star Trek into space, including the series' creator, Gene Roddenberry. But the blunder this week saw communications with the capsule lost at an altitude of 26 km (16 miles). An investigation is underway into the loss of contact, after which the device plunged into the Pacific Ocean. In a statement posted on LinkedIn, TEC said: "From an orbital altitude of 550 km (340 miles), the capsule successfully re-entered in a controlled manner, with communication re-established after maximum warm-up. However, communications were lost at an altitude of 26 km, shortly before the phase preceding parachute deployment." In a previous statement, TEC apologised "to all our customers who entrusted us with their cargo." Charles Chafer, CEO of Celestis, which hired TEC, said this was the first mission in which capsules would return to Earth. He said: "As a result of this unexpected event, we believe it will not be possible to recover or return the flight capsules. We share the families' disappointment and offer our sincerest gratitude for their trust. "We hope families will find some comfort in knowing their loved ones were part of a historic journey. Launched into space, orbiting the Earth, and now resting in the vastness of the Pacific, akin to a traditional and honorable scattering at sea."
Hindustan Times
06-07-2025
- Business
- Hindustan Times
Space burial ends in tragedy: Capsule with ashes of 166 people crashes into Pacific Ocean
A unique space capsule, which was carrying the ashes of 166 people, ended up at the bottom of the Pacific Ocean after orbiting around the Earth. A German startup launched the Nyx capsule on "Mission Possible", carrying the remains of 166 people who wanted to be buried in space along with cannabis seeds. A German startup launched the Nyx capsule on "Mission Possible", carrying the remains of 166 people.(The Exploration Company) However, the capsule completed two orbits after it was launched on June 23 and then plummeted to Earth, dropping into the Pacific Ocean. The Exploration Company (TEC) which created the capsule said that Mission Possible was a "partial success" "Our spacecraft Mission Possible achieved partial success (partial failure). The capsule was launched successfully, powered the payloads nominally in orbit, stabilised itself after separation from the launcher, re-entered and re-established communication after blackout," it said in a LinkedIn post. Take a look at the full post here: However, it said that when the capsule returned to Earth's orbit, it 'lost communication' with the company for 'a few minutes before splash down." The startup said that it was still investigating the "root causes" of the sudden crash and will share more information soon. It did, however, apologise to their clients who trusted them with the remains of their loved ones. "We apologize to all our clients who entrusted us with their payloads. We thank our teams for their hard work and their dedication to success. We have been pushing boundaries in record time and cost. This partial success reflects both ambition and the inherent risks of innovation. Leveraging the technical milestones achieved yesterday and the lessons we will extract from our ongoing investigation, we will then prepare to re-fly as soon as possible," it wrote. The Texas-based space burial company Celestis, which was also part of the mission, stated that they will not be able to recover or return the flight capsules or ashes aboard. "We also recognise that no technical achievement replaces the profound personal meaning this service holds for our families,' Celestis co-founder and CEO Charles M Chafer said.
Yahoo
04-07-2025
- Science
- Yahoo
Space Capsule Carrying Ashes of Over 160 People Lost After Crashing into Pacific Ocean
The Nyx capsule, which carried the ashes and DNA of 166 deceased participants courtesy of Texas-based company Celestis, crashed into the Pacific Ocean after its June 23 launch The Exploration Company that launched the capsule said that it was 'investigating the root causes" of what happened Celestis noted that as a result of the crash, they believe that they would 'not be able to recover or return the flight capsules aboard,' which were supposed to return back to Earth to their loved onesA capsule carrying more than 160 souls to the stars met an anticlimactic fate. The Nyx capsule was launched on June 23 as part of the program 'Mission Possible' led by a German start-up called The Exploration Company (TEC), according to the company's website. However, things did not go exactly to plan, with the company sharing in a letter that the payload encountered an 'issue' after its launch. The company said the capsule was 'launched successfully, powered the payloads nominally in-orbit, stabilized itself after separation with the launcher, re-entered and re-established communication after black out," but then things went off script. The company said it 'lost communication' with the capsule 'a few minutes before splash down.' TEC did not say what could have caused the issue, but is 'investigating the root causes.' 'We apologize to all our clients who entrusted us with their payloads,' the company said in a statement in the letter. One of these clients was Celestis, a Texas-based company that offers to send loved one's ashes into space. The company noted on its website that its 'Perseverance Flight' carrying the ashes and DNA of 166 deceased participants was launched aboard the TEC's Nyx spacecraft. The company noted that this was the first Celestis mission in which the ashes were 'designed to return from orbit.' The company said that the spacecraft 'completed two orbits around Earth' — which they say met their 'criteria for a successful Earth Orbit service' — but then when it initiated its return trajectory, 'an anomaly occurred and the vehicle was lost shortly after re-entry.' This issue caused the Nyx capsule to crash into the Pacific Ocean, 'dispersing its contents at sea,' according to the company. As a result of this, they believe that they would 'not be able to recover or return the flight capsules aboard.' 'Though we currently believe that we cannot return the flight capsules, we hope families will find some peace in knowing their loved ones were part of a historic journey, launched into space, orbited Earth, and are now resting in the vastness of the Pacific, akin to a traditional and honored sea scattering,' the company said in a statement. Never miss a story — sign up for to stay up-to-date on the best of what PEOPLE has to offer, from celebrity news to compelling human interest stories. According to Popular Mechanics, ashes weren't the only thing on board the space capsule. Cannabis plant matter and seeds launched as part of a citizen science project called Martian Grow were also on board the capsule. The Nyx capsule, dubbed 'Mission Possible,' was TEC's 'second spacecraft to reach orbit in under four years,' according to the company's website. The launch was also the first for TEC's Nyx capsule, which they designed in order to transport crew and cargo to and from LEO and beyond. 'We are continuing our journey, eager to implement these learnings in our next vehicle,' said Hélène Huby, Founder & CEO. 'We will learn from Mission Possible and improve, together as a team. I express my profound gratitude to The Exploration Company's team members who are demonstrating outstanding solidarity, resilience, and commitment to the success of our mission.' Read the original article on People
WIRED
25-06-2025
- Science
- WIRED
A European Startup's Spacecraft Made It to Orbit. Now It's Lost at Sea
Eric Berger, Ars Technica Jun 25, 2025 4:25 PM The Exploration Company lost contact with its 'Mission Possible' vehicle a few minutes before touchdown in the ocean. Photographer: The Exploration Company A European company that seeks to develop orbital spacecraft for cargo, and eventually humans, took a step forward this week with a test flight that saw its "Mission Possible" vehicle power up and fly successfully in orbit before making a controlled reentry into Earth's atmosphere. However, after encountering an "issue," the Exploration Company lost contact with its spacecraft a few minutes before touchdown in the ocean. In an update on LinkedIn Tuesday morning, the company characterized the test flight as a partial success—and a partial failure. "The capsule was launched successfully, powered the payloads nominally in-orbit, stabilized itself after separation with the launcher, re-entered and re-established communication after black out," the company said in a statement. "We are still investigating the root causes and will share more information soon. We apologize to all our clients who entrusted us with their payloads." Maybe It Was the Parachutes Reestablishing communications with the spacecraft after the blackout period suggests that the vehicle got through the most thermally challenging part of reentry into Earth's atmosphere and perhaps validated the spacecraft's handling and ability to withstand maximum heating. Following this, according to the company's timeline for Mission Possible, the capsule's parachutes were due to deploy at a velocity between Mach 0.8 and Mach 0.6. The parachutes were selected for their "proven flight heritage," the company said, and were procured from US-based Airborne Systems, which provides parachutes used by SpaceX's Dragon, Boeing's Starliner, and other spacecraft. Given when the spacecraft was lost, it seems most likely that there was a problem with the deployment of the drogue or main parachutes. Mission Possible was a 2.5-meter diameter demonstration vehicle that was among the larger payloads launched Monday afternoon on SpaceX's Transporter 14 mission from Vandenberg Space Force Base in California. The mission sought to test four primary areas of spaceflight: structural performance in orbital flight, surviving reentry, autonomous navigation, and recovery in real-world conditions. It only clearly failed in this final task, recovering the vehicle within three days to return on-board payloads to customers. Meeting an Aggressive Timeline It is refreshing to have such clear and concise communication from a space company, especially the acknowledgment that a flight was a partial failure, within hours of launch. And it is not a surprise that there were technical challenges on a vehicle that was put together fairly rapidly and at a low cost. In an interview with Ars last November, the founder of The Exploration Company, Hélène Huby, said Mission Possible was developed at a cost of about $20 million in 2.5 years, in addition to $10 million for the rideshare launch on the Falcon 9 rocket. At the time, she said Mission Possible was on track to launch this summer, and the company met this timeline. Given the potential issues with the parachute system or other problems near touchdown, it is possible that The Exploration Company may fly another subscale demonstration mission before moving into development of its full-size Nyx cargo spacecraft. "This partial success reflects both ambition and the inherent risks of innovation," the company said Tuesday morning. "Leveraging the technical milestones achieved yesterday and the lessons we will extract from our ongoing investigation, we will then prepare to re-fly as soon as possible." Working Toward Nyx To date, the company has raised more than $230 million and plans to use much of that for the development of Nyx, which could fly as early as 2028 and focus on cargo delivery missions to low-Earth orbit. By demonstrating this capability, Huby said her company would like to secure funding from the European Space Agency to develop a crew-rated version of the spacecraft and a vehicle to return cargo from the Moon. This is not an unreasonable plan. SpaceX required significant funding from NASA, nearly $3 billion, to develop its Crew Dragon vehicle after demonstrating an initial cargo version. Huby said The Exploration Company would require a similar amount of funding from European nations. It is not possible to raise that money from private capital markets right now by promising a great return a decade from now. By one metric, Monday's flight was a significant success. Compared to the United States and China, the commercial space industry in Europe has lagged behind, beset by a less favorable environment for startups and opposition by large, traditional space companies that have dominated Europe's orbital activities for decades. The Exploration Company reached space with a fairly large vehicle and flew it back through Earth's atmosphere less than four years after its founding. This is a credible start for the company. This story originally appeared on Ars Technica.
