Unlock stock picks and a broker-level newsfeed that powers Wall Street.
Snowline Gold Intersects 380.4 m of 1.1 Grams Per Tonne Gold and 219.1 m of 1.4 Grams Per Tonne Gold from Surface at Valley, Rogue Project, and Identifies 500 m Gold and Silver Anomaly on Cynthia Project
Hole V-24-091 returned 1.06 g/t Au over 380.4 m from surface, including 2.00 g/t Au over 51.0 m, pushing known mineralization past the resource boundary
Hole V-24-088 returned 1.40 g/t Au over 219.1 m from surface, including 2.11 g/t Au over 72.0 m, confirming strong mineralization predicted by resource model
500 x 200 m gold & silver anomaly delineated in talus fines at Cynthia, with chip samples across an outcropping dike returning 0.58 g/t Au and 45.3 g/t (1.3 oz/ton) Ag across 8 m width of dike
Assays remain pending for >21,400 m in 37 holes across 5 targets at Snowline's Rogue and Einarson projects.
VANCOUVER, BC / ACCESSWIRE / November 12, 2024 / SNOWLINE GOLD CORP (TSXV:SGD)(OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to announce additional analytical results from its 2024 Valley deposit drilling campaign on the Rogue Project in Canada's Yukon Territory alongside updates on regional exploration. A fence of drill holes (V-24-088, 090 & 091) across the northwest end of the Valley deposit confirm strong, consistent gold grades from surface, with mineralization extending outside of the current resource constraint. At Cynthia, geochemical samples delineate a 500 x 200 m gold and silver anomaly in talus fines immediately north of an area with limited historical drilling. A continuous chip sample across a mineralized dike yielded 0.58 g/t Au and 45.0 g/t Ag over 8.0 m. The Company awaits analytical results from the majority of its 2024 exploration campaign, including >21,400 m of drilling in 37 holes across five different targets.
Table 1 -Highlight summary of Snowline's latest assay results; see Table 2 for details. *Interval widths reported; true widths of the system at Valley are not yet known.
"We are encouraged to see results from Valley continuing to live up to the high standards set by the deposit model, in hole after hole-in our view, this is a key hallmark of a high-quality mineral deposit," said Scott Berdahl, CEO & Director of Snowline. "We are further encouraged by ongoing indications of widespread regional gold fertility across our extensive mineral tenure in the eastern Yukon, evidenced by advancement of yet another greenfield target, on our Cynthia Project, in the broader Rogue Plutonic Complex."
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-24-088 through V-24-092. Past analytical results are faded, while instances of visible gold in holes awaiting assay are marked by yellow spheres. Drill holes with assays pending are labelled in blue.
Hole V-24-088
Hole V-24-088 is collared within the Valley intrusion, roughly 42 m east of V-23-053 and 73 m northwest of V-23-051. The hole is drilled to the southwest, testing a northeastern extension of strong gold mineralization predicted by the Valley deposit block model.
The hole runs through coarse-grained granodiorite for most of its length, with a zone of fine-grained porphyritic granodiorite from roughly 204 m to 223 m downhole, near a brecciated contact with the hornfels sedimentary rock outside of the Valley intrusion. The hole ended at 269.0 m, outside of the Valley intrusion, in weakly mineralized hornfels.
Figure 2 - Cross-section A-A', showing V-24-088, 090 & 091 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, and blocks shown outside of the current pit shell constraint are not included in the initial MRE for Valley. Instances of visible gold in holes still awaiting assay results are marked by yellow spheres. The released holes are projected onto the same plane from a total width of roughly 160 m, with the lower parts of V-24-090 well in the background-relative positions can be seen in the plan map in Figure 1.
The results of this hole are expected to help upgrade and de-risk relevant areas of the initial mineral resource estimate for Valley. The ultimate effect of this result will be quantified along with analytical results of all subsequent holes in an updated mineral resource estimate at a later time.
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 "RE" and "J" are from the Reid and Jupiter targets on the Rogue and Einarson projects, respectively. *Interval widths reported; true widths of the system are not yet known, with different vein generations, orientations, and grade distributions present within various intervals through the bulk tonnage gold target at Valley.
INTERSECTION TARGET, CYNTHIA
Contour soil and talus fine sampling on the Cynthia project revealed a 500 m x 200 m gold and silver anomaly north of and contiguous with the "Intersection" target, marked on surface by widespread clay alteration and associated oxidation. Of 28 talus fine samples taken in this area, 16 (57%) returned >0.1 g/t Au, to a maximum of 0.52 g/t Au & 28.5 g/t Ag (average 0.19 g/t Au, 5.7 g/t Ag). Roughly 400 m to the east of the anomaly, on the opposite site of a ridge, 6 of 7 additional talus fines returned >0.1 g/t Au (maximum 0.52 g/t Au, average 0.24 g/t Au). A mineralized fine-grained felsic dike cutting through the anomaly was chip sampled in one outcrop across its width, averaging 0.58 g/t Au and 45.0 g/t Ag over 8.0 m in 8 contiguous 1 m samples. The dike runs at least 500 m and is estimated to average between 5 and 8 m in width (Figure 4).
Figure 3 - Widespread alteration north of the Intersection target, sampled in 2024 by talus fine sampling, which revealed a 500 x 200 m zone of anomalous gold and silver values. Chip sampling across an 8 m wide dike and into surrounding hornfels exposed in outcrop (near middle of photograph) averaged 0.58 g/t Au and 45.0 g/t Ag.
Limited, historical drilling was conducted in 2010 to the south of this anomaly by a previous operator, at Cynthia's Intersection target. Discontinuous zones of anomalous gold mineralization were encountered, and the drilling did not intersect the mineralized dikes. No subsequent investigation was conducted.
Figure 4 - Plan map of the intersection zone, with current sampling shown in yellow and exposed intrusive rocks shown in pink. Historical rock and soil samples are shown in grey, with approximate locations, at the same grade/size and shape scales used for Snowline's samples. Continuous outcrop chip sample gold grades are labelled in the inset.
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 target 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 system 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 5 - 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. The Plata staging area is located at the northern end of the Plata winter trail, which connects to the government maintained North Canol Road.
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 Thomas K. Branson, M.Sc., P. Geo., VP Exploration 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.
