CORRECTION FROM SOURCE: Snowline Gold Builds on Near Surface Mineralization with 2.1 Grams Per Tonne Gold Over 433.5 M at its Valley Deposit, Yukon and Initiates Clean-Up Project on Historical Mining Site
Snowline Gold Corp (TSX-V:SGD)(OTCQB:SNWGF) has announced significant results from its 2024 Valley deposit drilling campaign in Yukon. Hole V-24-081 returned 2.10 g/t Au over 433.5 m, including higher-grade sections, while V-24-084 yielded 1.31 g/t Au over 273.2 m, both surpassing mineral resource estimate expectations. The company drilled approximately 25,000 m in 55 holes at Valley in 2024, nearly doubling the previous drilling used for the initial mineral resource estimate.
Additionally, Snowline completed the first phase of a reclamation program at the historical Plata mining camp near the Rogue Project, organizing debris and abandoned equipment for future removal. The company awaits results from over 24,600 m of drilling across 6 targets at its Rogue and Einarson projects.
Snowline Gold Corp (TSX-V:SGD)(OTCQB:SNWGF) ha annunciato risultati significativi della sua campagna di perforazione del deposito Valley per il 2024 nello Yukon. Il foro V-24-081 ha restituito 2,10 g/t Au su 433,5 m, inclusi sezioni ad alta grade, mentre V-24-084 ha prodotto 1,31 g/t Au su 273,2 m, entrambi superando le aspettative delle stime delle risorse minerarie. L'azienda ha perforato circa 25.000 m in 55 fori a Valley nel 2024, quasi raddopiando le perforazioni precedenti utilizzate per l'iniziale stima delle risorse minerarie.
Inoltre, Snowline ha completato la prima fase di un programma di recupero presso il campo minerario storico di Plata, vicino al progetto Rogue, organizzando detriti e attrezzature abbandonate per una futura rimozione. L'azienda attende i risultati di oltre 24.600 m di perforazione su 6 obiettivi nei suoi progetti Rogue ed Einarson.
Snowline Gold Corp (TSX-V:SGD)(OTCQB:SNWGF) ha anunciado resultados significativos de su campaña de perforación en el depósito Valley para 2024 en Yukon. El pozo V-24-081 arrojó 2.10 g/t Au sobre 433.5 m, incluyendo secciones de mayor ley, mientras que V-24-084 dio 1.31 g/t Au sobre 273.2 m, superando ambas las expectativas de estimación de recursos minerales. La compañía perforó aproximadamente 25,000 m en 55 pozos en Valley en 2024, casi duplicando las perforaciones anteriores utilizadas para la estimación inicial de recursos minerales.
Además, Snowline completó la primera fase de un programa de rehabilitación en el histórico campamento minero de Plata cerca del Proyecto Rogue, organizando escombros y equipos abandonados para su futura remoción. La empresa espera resultados de más de 24,600 m de perforación en 6 objetivos en sus proyectos Rogue y Einarson.
Snowline Gold Corp (TSX-V:SGD)(OTCQB:SNWGF)는 캐나다 유콘의 Valley 매장지에서 2024년 시추 캠페인의 주요 결과를 발표했습니다. 홀 V-24-081은 433.5m에서 2.10g/t Au를 반환했습니다, 고급 섹션을 포함하여, V-24-084는 273.2m에서 1.31g/t Au를 산출했습니다, 두 구경 모두 광물 자원 추정 기대치를 초과했습니다. 이 회사는 2024년에 Valley에서 25,000m를 55개 홀로 시추했습니다, 이는 초기 광물 자원 추정에 사용된 이전 시추량의 거의 두 배입니다.
추가로, Snowline은 Rogue 프로젝트 근처의 역사적인 Plata 채굴 캠프에서 복구 프로그램의 첫 번째 단계를 완료하고, 미래의 제거를 위해 잔해와 폐기된 장비를 정리했습니다. 회사는 현재 6개의 목표 지점에서 24,600m 이상의 시추 결과를 기다리고 있습니다.
Snowline Gold Corp (TSX-V:SGD)(OTCQB:SNWGF) a annoncé des résultats significatifs de sa campagne de forage du gisement Valley pour 2024 au Yukon. Le trou V-24-081 a retourné 2,10 g/t Au sur 433,5 m, y compris des sections de grade supérieur, tandis que V-24-084 a yielded 1,31 g/t Au sur 273,2 m, dépassant tous deux les attentes des estimations des ressources minérales. L'entreprise a foré environ 25 000 m dans 55 trous au Valley en 2024, presque doublant le forage précédent utilisé pour l'estimation initiale des ressources minérales.
De plus, Snowline a complété la première phase d'un programme de réhabilitation au camp minier historique de Plata près du projet Rogue, organisant des débris et des équipements abandonnés pour un futur enlèvement. L'entreprise attend les résultats de plus de 24 600 m de forage sur 6 cibles dans ses projets Rogue et Einarson.
Snowline Gold Corp (TSX-V:SGD)(OTCQB:SNWGF) hat wichtige Ergebnisse seiner Bohrkampagne im Valley-Lagerstättenprojekt im Yukon für 2024 bekannt gegeben. Die Bohrung V-24-081 lieferte 2,10 g/t Au über 433,5 m, einschließlich höhergradiger Abschnitte, während V-24-084 1,31 g/t Au über 273,2 m ergab, wobei beide die Erwartungen der mineralischen Ressourcenschätzungen übertrafen. Das Unternehmen bohrte etwa 25.000 m in 55 Löchern im Valley im Jahr 2024, was fast eine Verdopplung der bisherigen Bohrungen für die anfängliche mineralische Ressourcenbewertung darstellt.
Darüber hinaus hat Snowline die erste Phase eines Rekultivierungsprogramms im historischen Plata-Bergbaucamp in der Nähe des Rogue-Projekts abgeschlossen und Trümmer und aufgegebene Ausrüstungen für die zukünftige Entfernung organisiert. Das Unternehmen wartet auf Ergebnisse von über 24.600 m an Bohrungen über 6 Ziele in seinen Projekten Rogue und Einarson.
- Hole V-24-081 returned 2.10 g/t Au over 433.5 m, including 3.42 g/t Au over 96.5 m and 3.20 g/t Au over 50.5 m
- Hole V-24-084 returned 1.31 g/t Au over 273.2 m, including 2.18 g/t Au over 120.7 m from surface
- Drilling results outperform the model used for the Company's initial mineral resource estimate
- Approximately 25,000 m drilled at Valley in 55 holes in 2024, nearly double the amount used for the initial mineral resource estimate
- Completion of first phase of reclamation program at historical Plata mining camp, demonstrating environmental responsibility
- Assays still pending for >24,600 m in 45 holes across 6 targets, potentially delaying comprehensive project assessment
Table 2 replaced with updated drill hole information
Hole V-24-081 returned 2.10 g/t Au over 433.5 m, including 3.42 g/t Au over 96.5 m and 3.20 g/t Au over 50.5 m, bolstering scale of high-grade, near-surface gold mineralization at Snowline's Valley deposit, Rogue Project
Hole V-24-084 returned 1.31 g/t Au over 273.2 m, including 2.18 g/t Au over 120.7 m from surface, surpassing mineral resource estimate block model expectations near the southeastern part of the Valley deposit
Phase I reclamation work completed by Snowline at historical "Plata" staging area, southwest of the Rogue Project, which supported 1980s mining activity in the area from the Plata winter trail
Assays remain pending for >24,600 m in 45 holes across 6 targets at Snowline's Rogue and Einarson projects.
VANCOUVER, BC / ACCESSWIRE / October 10, 2024 / SNOWLINE GOLD CORP (TSX-V: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 its regional activities. Holes V-24-081 and V-24-084 returned strong, consistent gold grades from near-surface along the southwestern edge of the Valley deposit, outperforming the model used for the Company's initial mineral resource estimate (MRE) earlier this year. In addition, Snowline has completed the first phase of a reclamation program at the Plata mining camp near the Rogue Project, organizing and inventorying debris and abandoned equipment from historical mining activities in the region for future demobilisation. The Company awaits analytical results from the majority of its 2024 exploration campaign, including >24,600 m of drilling in 44 holes across 5 different targets.
"It is a testament to the consistency of mineralization at Valley that results like today's have become almost commonplace," said Scott Berdahl, CEO & Director of Snowline. "Nonetheless, they further demonstrate the strength of the system near surface, and key holes V-24-081 and V-24-084 outperform our model along the southwest margin of the deposit.
"We are also pleased to report completion of the first stage of a meaningful side project - the cleanup of the historical Plata staging area, which supported small-scale mining efforts in the region in the early 1980s. We would like to thank Honey Badger Silver Inc. and Archer, Cathro & Associates for their assistance in these efforts. This work builds on Snowline's commitment to contribute to a lasting positive legacy for mining in the Yukon."
VALLEY DRILLING, ROGUE PROJECT
Roughly 25,000 m have been drilled at Valley in 55 holes in 2024 (Figure 1) - nearly double the amount of drilling (27,911 m) used to inform the Company's initial MRE for Valley. Trace instances of visible gold and widespread sheeted quartz vein arrays have been observed both within and beyond the confines of the MRE. The Company awaits full assay results from the 2024 drill campaign to assess the significance of these observations and their impact on the deposit.
Hole V-24-081
Hole V-24-081 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 northeast, as opposed to the more common southwest orientation at Valley, to more effectively test local near-surface mineralization and to get information from gaps in drilling at depth.
The hole runs through coarse-grained granodiorite for most of its length, with a zone of fine-grained porphyritic granodiorite from roughly 336 m to 446 m downhole containing xenoliths of granodiorite, hornfels and chert. A total of 121 instances of visible gold were noted along the length of the hole during logging.
The results of this hole are expected to help upgrade and de-risk relevant areas of the initial mineral resource estimate for Valley. Notably, the hole redefines the local, near-surface southwest boundary of the intrusion, as the previous geological model (used to inform the initial MRE at Valley) suggested V-24-081 would have collared into hornfels. 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.
PLATA SITE CLEANUP
In September, Snowline completed the first phase of a site cleanup program at the historical Plata staging area. Work consisted of documenting, inventorying, stockpiling and limited removal of abandoned equipment and materials from historical exploration and mining activity related to mining in the area primarily in the 1980s, which included small scale underground silver mining. Stockpiled materials have been consolidated and prepared for future removal from site.
The Plata staging area is located along an airstrip at the north end of the Plata winter trail (Figure 4) roughly 8 km west of Snowline's Rogue Project. The site is strategically located, and Snowline has used the staging area in the past to support its own operations.
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 >
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
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.
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.
ON BEHALF OF THE BOARD
Scott Berdahl
CEO & Director
For further information, please contact:
Snowline Gold Corp.
+1 778 650 5485
info@snowlinegold.com
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 NOTE REGARDING FORWARD-LOOKING STATEMENTS
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.
SOURCE: Snowline Gold Corp.
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