Snowline Gold Commences 8,000 Metre Drill Program on Its Flagship Yukon Projects
Snowline Gold Corp. announced the start of a significant 2022 exploration and drilling program at its Valley gold discovery in the Yukon, following a successful initial drilling season. A total of 8,000 metres of drilling is planned across multiple zones, including the Valley and Jupiter zones. The program aims to explore and expand known mineralization, with initial drilling focusing on areas previously identified as having high gold grades. Snowline aims to position itself as a key player in a potentially new gold district.
- Commencement of 8,000 metre drill program targeting multiple gold zones.
- Potential for significant new discoveries based on previous success.
- High-grade mineralization encountered in past drilling at Valley.
- None.
- Phase II drilling underway at Valley, a bulk tonnage gold discovery made in late 2021
- Upwards of 8,000 metres drilling planned across at least four targets in 2022
- Potential for significant new drill discoveries along with expansion of Snowline's Valley and Jupiter zones
VANCOUVER, BC / ACCESSWIRE / June 8, 2022 / SNOWLINE GOLD CORP. (CSE:SGD)(OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to announce that it has commenced its 2022 exploration and drilling program. Drill crews and geological staff recently mobilized to the Company's new Forks Camp, built to support its Rogue, Einarson, Ursa and Cynthia projects. Phase II diamond drilling is underway at Rogue's Valley zone to test the extent of gold mineralization encountered by drilling in September 2021 within a soil and talus fine anomaly spanning roughly two kilometers.
"Following an exceptional first season with two drill discoveries on our adjacent Rogue and Einarson projects, we are very excited to return to the field," said Scott Berdahl, CEO and Director of Snowline. "Our team has already done a tremendous job setting up for an early season start amidst our new camp build and a record-breaking spring snowpack. Snowline's 2022 drill program gives our shareholders much to look forward to as we simultaneously build on recent successes and position ourselves to make additional discoveries. Our results will shed new light on our large and relatively unexplored land package, which we believe has the potential to become a new North American gold district."
The geological setting and style of mineralization at Valley demonstrate the presence of a bulk tonnage gold target, with similarities to Kinross's Fort Knox Mine in Alaska and Victoria Gold's Eagle Mine in the Yukon. An 800 m Phase I drill program conducted at Valley in September 2021 encountered broad zones of gold mineralization in all four holes (e.g. see Snowline news release dated February 10, 2022). Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays along margins of a mid-Cretaceous aged Mayo-series intrusion.
2022 DRILL CAMPAIGN
Snowline's 2022 drill program budgets for at least 8,000 m total drilling across four or more zones.
At Rogue, some 3,000 m are planned for drilling on and around the Valley intrusion, which includes the Valley and Ridge zones. Expected hole depths range between 200 m and 300 m, with one or more deeper holes planned to determine continuity and intensity of mineralization at depth. The drill program will test the scale of the Valley gold system, with a systematic series of step-outs set to better define the width, breadth and depth of mineralization responsible for the geochemical anomalies on surface.
At Einarson, some 3,000 m are budgeted for the Jupiter zone, a high-grade epizonal orogenic gold prospect discovered by drilling in 2021 (e.g. see Snowline news release dated October 13, 2021). Precise drill targeting will await the results of early-season surface work. The program will further test the scale of the Jupiter gold system with broad step-outs, while more concentrated drilling near last season's drill discoveries will better define geometries and controls on mineralization while providing a more rigorous testing of known high-grade zones.
The balance of 2,000 m or more is budgeted for first-ever drill testing of additional targets. At Rogue's Gracie zone, a 5.1 km gold in soil and talus fine anomaly above a buried felsic intrusion represents a high-priority bulk tonnage drill target (see Snowline news release dated April 7, 2022). Mineralization is thought to be related to that at Valley. Following surface work to optimize drill targeting and assuming viable targets are identified, Phase I drilling will commence at Gracie.
Other candidate zones for Phase I drilling in summer 2022 include:
- Avalanche Creek (Einarson): A one-kilometer-long mineralized quartz carbonate boulder train similar in character to Jupiter, some 12 km away. Grab samples of Avalanche Creek float material assay from 0.3 g/t Au to 34.2 g/t Au, and a likely source structure for the mineralization has been identified.
- Mars (Einarson): A four-kilometer-long gold in soil and talus fine anomaly in historical data with values of up to 8.97 g/t Au in talus fines. Rock samples from the trend range from below detection to 9.27 g/t Au, including a historical hand trench that returned 7.1 g/t Au over 5.0 m. Limited historical drilling tested the far south end of the trend, near the hand trench location, with reported intercepts of up to 0.57 g/t Au over 21.2 m (true width unknown). The majority of the Mars anomaly, including its strongest soil geochemistry, has not been drill tested.
- Ursa: A fourteen-kilometer-long trend of anomalous zinc in stream sediments with values consistently over
0.1% Zn and up to3.4% Zn. An aerial VTEM survey conducted by Snowline in 2021 revealed several large conductors that may be lithological or that may be indicators of mineralization.
The proportion and total amount of drilling planned for each zone are rough working guides and may change based on drill results and other observations or factors throughout the season.
QUALIFIED PERSON
Information in this release has been prepared and approved by Scott Berdahl, P. Geo., Chief Executive Officer of Snowline and a Qualified Person for the purposes of National Instrument 43-101.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seven-project portfolio covering >127,000 ha. The Company is exploring its flagship >85,000 ha Einarson and Rogue gold projects 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 including Kinross' Fort Knox mine, Newmont's Coffee deposit, and Victoria Gold's Eagle Mine. Snowline's first-mover land position provides a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
ON BEHALF OF THE BOARD
Scott Berdahl, MSc, MBA, PGeo
CEO & Director
For further information, please contact:
Snowline Gold Corp.
+1 778 650 5485
info@snowlinegold.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including statements about the Company's upcoming drill program and surface work and plans for exploring and expanding a new greenfield, district-scale gold system. 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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FAQ
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