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Snowline Gold Intersects 351.6 m of 1.2 Grams Per Tonne Gold Including 166.1 m of 2.1 Grams Per Tonne Gold from Surface Along with Multiple Strong Hits at Its Valley Deposit, Yukon
SNOWLINE GOLD CORP (TSX-V:SGD) (OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to announce additional drill results from its 2024 Valley deposit drilling campaign on the Rogue Project in Canada's Yukon Territory alongside updates on regional exploration. Infill and expansionary drilling continue to delineate consistent mineralization, in this case along the northeast and southeast edges of the Valley deposit along with strong results in V-24-104 and V-24-099 closer to the highest-grade core of the Valley system. The Company still awaits analytical results from >11,600 m of drilling in 29 holes across three different targets.
Table 1 -Highlight summary of Snowline's latest assay results; see Table 2 for details. *Interval widths reported.
"Today's results highlight the robust nature and scale of mineralization at the Valley deposit," said Scott Berdahl, CEO & Director of Snowline. "The seven holes span a roughly 600 by 450 m spatial footprint, primarily testing the margins of the deposit as currently understood. They consistently deliver intervals spanning hundreds of metres of continuous mineralization, generally above one gram per tonne gold and in cases above two grams per tonne-results in themselves that would be singular highlights in many other systems of this type. We are pleased to see this consistency around what are currently the edges of Valley, and we look forward to incorporating these holes into an updated mineral resource estimate along with 20 additional holes from our 2024 drill campaign at Valley still to come, as well as regional drilling results."
VALLEY DRILLING, ROGUE PROJECT
Figure 1 - Plan map of drill results and progress on the Rogue Project's Valley deposit, highlighting current results in drill holes V-24-098 through V-24-104. Past analytical results are faded, while instances of visible gold in holes awaiting assay are marked by yellow spheres. Drill holes with assays pending (20 holes from Valley) are labelled in blue.
Hole V-24-099
Hole V-24-099 is collared within the Valley intrusion, roughly 40 m northeast of the nearest hole V-23-044 (295.9 m @ 1.32 g/t Au from surface including 157.0 m @ 2.03 g/t Au, see September 11, 2023 news release) and 90 m southeast of V-23-059 (429.6 m @ 1.01 g/t Au from surface including 106.5 m @ 1.97 g/t Au, see December 6, 2023 news release). The hole is drilled to the southwest, testing continuity of strong gold mineralization predicted by the Valley deposit block model in the southeastern part of the Valley deposit.
The hole runs primarily through coarse-grained granodiorite for the top 347 m, at which point it transitions out of the intrusion into hornfels, subsequently cutting a granodioritic dyke for 40 m downhole length near the edge of the intrusion. Quartz vein densities are highest near the top of the hole, corresponding to the highest gold grades.
Figure 2 - Cross-section A-A', showing V-24-099 and V-24-098 in the context of the initial Valley MRE block model and MRE-constraining revenue factor 0.72 pit shell. The block model has not been updated to reflect the current results, nor any results to date from 2024 (bold labels). Blocks shown outside of the current pit shell constraint are not included in the initial MRE for Valley. Areas without blocks have not been modelled and were assumed as nil for the initial Valley MRE. Instances of visible gold in holes still awaiting assay results are marked by yellow spheres.
The hole returned 1.19 g/t Au over 351.6 m downhole, including 166.1 m downhole at 2.05 g/t Au, both from bedrock surface. Notably, interval grades do not drop when internal assays are capped at 10 g/t Au, showcasing the consistent nature of gold mineralization along the breadth of the interval.
These results and those of other holes reported herein (Table 2) are expected to help upgrade and de-risk relevant areas of the initial MRE for Valley. The ultimate effect of this result will be quantified along with analytical results of all subsequent holes in an updated MRE at a later time.
Figure 3 - Relatively coarse native gold as seen in each of the seven Valley drill holes reported herein. Gold mineralization at Valley primarily consists of native gold hosted in quartz veins crosscutting the mid Cretaceous Valley intrusion and surrounding sedimentary rocks. Visible gold is common, with tens to hundreds of occurrences per hole consistently observed in well mineralized holes throughout the deposit. Gold often occurs proximal to various minor bismuth and tellurium sulphide minerals and alloys (grey minerals in above figures). As previously disclosed, the nature of this gold mineralization renders it available for high recovery rates from various conventional processing techniques, even in non-oxidized rock, as seen in initial metallurgical tests (94% average bottle roll cyanidation to 96% carbon-in-leach). All images are displayed at the same scale.
Table 2 - Summary of significant mineralization returned from current holes from Valley and other targets. The consistency of strong mineralization in the Valley deposit is reinforced by the capped values in the rightmost column, wherein any assay result >10 g/t Au is replaced by 10.0 g/t Au to calculate the average interval grades. Holes with prefixes "J" and "AVC" are from the Jupiter and Avalanche Creek targets on the Einarson Projects. Rounding errors may be present in interval lengths. *Interval widths reported; true widths of the Valley system are complex, with different vein generations, orientations, and grade distributions present within various intervals through the bulk tonnage gold target at Valley.
QA/QC
On receipt from the drill site NQ2-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline's "Forks" Camp. Sample lengths as small as 0.5 m were used to isolate features of interest, but most samples within moderate to strong mineralization were 1.0 m in length; otherwise, a default 1.5 m downhole sample length was used. Core was cut in half lengthwise along a pre-determined line, with one half (same half, consistently, dictated by orientation line where present or by dominant vein orientation where absent) collected for analysis and one half stored as a record. Field duplicates were collected at regular intervals as ¼ core samples by splitting the ½ core sent for sampling, leaving a consistent record of half core material from duplicate and non-duplicate samples alike. Standard reference materials and blanks were inserted by Snowline personnel at regular intervals into the sample stream. Bagged samples were sealed with security tags to ensure integrity during transport. They were delivered by expeditor to Bureau Veritas' preparatory facility in Whitehorse, Yukon. Sample preparation was completed in Whitehorse, with analyses completed in Vancouver.
Bureau Veritas is accredited to ISO/IEC 17025 and ISO9001 for quality management. Samples were crushed by BV to >85% passing below 2 mm and split using a riffle splitter. 250 g splits were pulverized to >85% passing below 75 microns. A four-acid digest with an inductively coupled plasma mass spectroscopy (ICP-MS) finish was used for 59-element analysis on 0.25 g sample pulps (BV code: MA250). All samples were analysed for gold content by fire assay with an atomic absorption spectroscopy (AAS) finish on 30 g samples (BV code: FA430). Any sample returning >10 g/t Au was reanalysed by fire assay with a gravimetric finish on a 30 g sample (BV code: FA530).
For the purposes of this release, contiguous mineralized intervals at Valley are defined as runs of mineralization with no break >5.0 m assaying <0.1 g/t Au and may include any highlight subsections thereof.
ABOUT ROGUE
Snowline Gold's 100%-owned, flagship Rogue Project, in Canada's Yukon Territory, covers a 60 x 30 km cluster of intrusions in the eastern Tombstone Gold Belt known as the Rogue Plutonic Complex.
Since its launch in 2021, Snowline has progressed the Rogue Project's Valley deposit from a greenfield prospecting discovery to a significant bulk tonnage gold resource, with 4.05 Moz gold indicated mineral resource at 1.66 g/t Au and an additional 3.26 Moz inferred mineral resource at 1.25 g/t Au within a pit-shell constraint. The resource estimate numbers are supported by the recent technical report for Rogue, prepared in accordance with NI 43-101 standards, entitled "Rogue Gold Project: NI 43-101 Technical Report and Mineral Resource Estimate," authored by Heather Burrell, P. Geo., Daniel J. Redmond, P. Geo., and Steven C. Haggarty, P. Eng., with an effective date of May 15, 2024.
Exploration of the open Valley deposit is ongoing. Valley is a reduced intrusion-related gold system (RIRGS), geologically similar to multi-million-ounce RIRGS deposits currently in production, like Kinross's Fort Knox Mine in Alaska, but with substantially higher gold grades. Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays within and along the margins of a one-kilometer-scale, mid-Cretaceous aged Mayo-series intrusion.
The Rogue Project area hosts multiple intrusions similar to Valley along with widespread gold anomalism in stream sediment, soil and rock samples. Elsewhere, RIRGS deposits are known to occur in clusters. For these reasons, Snowline considers the Rogue Project to have district-scale potential to host additional reduced intrusion-related gold systems.
Figure 4 - Project location map for Snowline Gold's eastern Selwyn Basin properties: Rogue, Einarson, Ursa, Cynthia and Olympus. The Valley target is one of several prospective reduced intrusion-related gold targets on the broader 30 x 60 km Rogue Project.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering roughly 360,000 ha (3,600 km2). The Company is exploring its flagship 111,000 ha (1,110 km2) Rogue gold project in the highly prospective yet underexplored Selwyn Basin. Snowline's project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits. The Company's first-mover position and extensive exploration database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
QUALIFIED PERSON
Information in this release has been prepared under supervision of and approved by Sergio Gamonal, M.Sc., P. Geo., Chief Geologist of Snowline Gold Corp, as Qualified Person for the purposes of National Instrument 43-101.
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.
This news release contains certain forward-looking statements, including statements regarding the significance of analytical results, the significance of visual drill core observations and visible gold, the potential effects of current analytical results on future mineral resource estimates including expansion of the pit shell and de-risking of the current estimate, the discovery potential within the Valley intrusion and on other exploration targets, the potential for investors to participate in multiple future discoveries, the Rogue project having district-scale prospectivity, the creation of a new gold district and the Company's future plans and intentions. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things: risks related to uncertainties inherent in drill results and the estimation of mineral resources; and risks associated with executing the Company's plans and intentions. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
