Snowline releases assay results at Yukon project

VANCOUVER – Snowline Gold Corp. [SGD-CSE, SNWGF-OTCQB] on Friday released more preliminary assay results from drilling at the Valley Zone on its Rogue gold project in the Canadian Yukon.

Drilling highlights include hole V-22-028, which intersected a zone of sheeted quartz vein mineralization within the Valley intrusion averaging 1.40 g/t across 363.5 metres from surface, including zones of 2.03 g/t gold over 129.9 metres and 2.15 g/t gold over 42.3 metres, with additional mineralization at depth.

The hole was collared 121 metres from the nearest hole (V-22-014; 285.2 metres at 1.45 g/t gold) and drilled northeast, demonstrating continuity of mineralization within Valley’s near-surface, mineralized corridor.

Assays remain pending for 26% (3,474 metres) of the 2022 Rogue drill program, the company said in a press release.

On February 2, 2023, Snowline Gold shares closed at $2.37 and currently trade in a 52-week range of $4.10 and 66 cents.

Snowline Gold is a Yukon Territory-focused gold exploration company with a seven-project portfolio covering 90,000 hectares. The company is exploring the 72,000-hectare Einarson and Rogue gold projects, which are located in the highly prospective, but underexplored Selwyn Basin.

Snowline’s project portfolio is within the Tintina Gold Province, which hosts multiple million-ounce-plus gold mines and deposits, including Kinross Gold Corp.’s (K-TSX, KGC-NYSE) Fort Knox mine, Newmont Corp.’s, [NGT-TSX, NEM-NYSE] Coffee deposit, and Victoria Gold Corp.’s [VGCX-TSXV] Eagle Mine.

The company says the geological setting and style of mineralization at Rogue’s Valley Zone indicate the presence of a bulk tonnage gold target, with similarities to Kinross’s Fort Knox Mine and Victoria Gold’s Eagle Mine.

The project is considered by the company to have district-scale prospectivity for reduced-intrusion related gold systems.

However, Valley is an early-stage exploration project without a resource estimate, and the presence or absence of an economically viable orebody cannot be determined until significant additional work is completed, the company said.

Snowline drill crews have been targeting intrusion-related gold mineralization in sheeted veining and gold-bearing structures within and around a newly-discovered intrusion that is thought to belong to the prolific Tombstone plutonic suite.

Results released on Friday build on earlier holes, with V-22-028 adding significant tonnage with strong gold grades. “The hole demonstrates a wide breadth to the mineralized zone and grade continuity between previous holes,’’ said Snowline CEO Scott Berdahl.

“In addition, promising mineralization seen in V-22-019 shows potential for near-surface higher grades to continue to the southeast, while V-22-020 shows  widespread mineralization within the Valley intrusion beyond the main gold zones know to us at present,’’ he said.

“We look forward to receiving additional assays from the 2022 season as we gear up for an exciting exploration program in 2023.’’

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