- Key Infill Holes Deliver: Hole V-24-119 intersects 617.6 m at 1.68 g/t Au from bedrock surface at 2.4 m downhole, including 202.0 m at 3.24 g/t Au, highlighting along with other holes consistency of strong, near-surface mineralization across largest gaps in previous drilling
- Updated Mineral Resource Estimate Forthcoming: Valley MRE to be updated in first half of 2025, following a 90% increase in total drilling (53 km vs 28 km in 2024)
- Rapid Project Advancement: Work underway on first-ever Preliminary Economic Assessment for Valley deposit, set to highlight potential economics of large, low strip, front-heavy gold system.
Snowline Gold Corp announce additional drill results from its 2024 drill campaign on the Valley deposit, Rogue Project, Yukon. At Valley, holes V-24-119 through V-24-122 returned intervals of strong gold mineralization from key drill coverage gaps at Valley, showcasing continuity of Valley’s high-grade, near-surface core zone and further derisking the deposit. Additional holes V-24-123 and V-24-124 returned zones of low-grade mineralization in large step-outs to the southeast of the existing Mineral Resource Estimate (MRE). Together, these results and previous 2024 drill results will help to inform an updated MRE for Valley anticipated in the coming months. The Company has also initiated work on a Preliminary Economic Assessment (PEA) of Valley based on all drilling to date, engaging SRK Consulting (Canada) Inc and additional independent contractors to conduct the study.
“Today’s excellent drill results come on the heels of Snowline’s fourth anniversary as a company—we commenced trading on March 1, 2021,”
“At that time, what is now the Valley deposit was a grassroots, greenfield target: an outcrop chip sample of 4.2 grams per tonne gold over 4.7 m[i]. Snowline drilled the first ever holes at Valley in September 2021. The speed and efficiency with which we have advanced Valley from that outcrop sample to a significant gold deposit since is a testament to many of the same qualities that we feel would make for a robust future gold mine, namely the three-dimensional consistency of high-grade, non-refractory gold mineralization beginning at surface. We are excited to continue our rapid advancement of Valley with an updated MRE along with a PEA to quantify the compound effects of these positive attributes on potential future economics.”
“We are also looking forward to another big season in 2025, with five drills currently on site and ready to commence a program of district-scale exploration alongside advancement and potential expansion of Valley, commencing in mid-May. The details of this program will be outlined in a future release.”
said Scott Berdahl, CEO & Director of Snowline.
VALLEY DRILLING, ROGUE PROJECT
The six holes reported herein from Valley primarily target gaps in previous drilling, with V-24-119 and 120 collared in the largest gaps remaining in the grid covering the high-grade core of the Valley deposit. V-24-123 and 124 are drilled as step-outs to the southeast. The results continue to build on the Company’s understanding of the Valley deposit through de-risking and potential expansion.
Roughly 25,000 m were drilled at Valley in 55 holes in 2024 – nearly double the amount of drilling (27,911 m) used to inform the Company’s initial MRE for Valley. The results of this drilling will be used to produce an updated MRE on the Valley deposit in H1 of 2025, as well as to inform a PEA for Valley that is currently underway.
Hole V-24-119
V-24-119 infills a 130 m gap along section between previous holes V-24-071 and V-22-029. It intersected primarily coarse-grained granodiorite. From bedrock surface at 2.4 m downhole, the hole returned an interval of 543.1 m averaging 1.80 g/t Au, including 202.0 m at 3.24 g/t Au from 96.5 m downhole. A 19.5 m section from 210.0 m downhole averages 5.68 g/t Au (Table 2). Twelve metres below this interval, a second mineralized interval averaged 1.03 g/t Au over 53.0 m from 557.5 m downhole.
Including two short (12.0 m and 6.0 m) weakly mineralized intervals, V-24-119 averages 1.68 g/t Au over the entire 617.6 m downhole from bedrock surface at 2.4 m, ending in low grade mineralization (0.3 g/t Au over the final 3.5 m from 616.5 m downhole). These results and those of subsequent holes V-24-120 through V-24-122 significantly de-risk the core of the Valley deposit, reducing uncertainty and efficiently helping to constrain deposit grades throughout a broad volume.
Hole V-24-120
Collared in the same section as V-24-119 located within a 170 m gap, V-24-120 encountered strong mineralization from bedrock surface at 7.6 m downhole, averaging 1.88 g/t Au over 200.9 m, including 2.90 g/t Au over 104.5 m from 11.5 m downhole. The hole exits the intrusion at 248.5 m downhole and was terminated shortly thereafter.
Hole V-24-121
V-24-121 is collared in a 150 m gap along section between previous holes V-23-050 and V-24-090, near the northeastern edge of the Valley deposit (Figures 1 & 3). The hole averaged 0.80 g/t Au—double the 0.4 g/t Au cutoff grade used in the initial MRE at Valley—over its first 486.5 m from bedrock surface at 6.0 m downhole, including a slightly higher-grade section of 1.06 g/t Au over 243.0 m from 41.0 m downhole. Notably, the top of this subinterval averages 1.80 g/t Au over 21.0 m, expanding the breadth of near-surface, relatively high-grade mineralization at Valley to the northeast (Figure 3).
Hole V-24-122
V-24-122 reports a consistent interval of 352.0 m averaging 1.05 g/t Au from bedrock surface at 6.5 m downhole. The hole fills a gap in previous coverage in the southeastern part of the Valley deposit, with the nearest hole V-23-052 collared roughly 50 m to the east. Highlighting this consistency, capping the mineralization at 10.0 g/t Au has no effect on the resultant interval grades (Table 2).
Holes V-24-123 & V-24-124
V-24-123 & 124 are among the southeasternmost holes drilled at Valley (Figure 1), each a step-out of roughly 50 m from previous drilling. Both holes encountered anomalous (>1 g/t Au) gold mineralization, with V-24-123 encountering multiple broad intervals throughout its length averaging from 0.2 to 0.9 g/t Au (Table 2) and extending the envelope of known mineralization at Valley to the southeast.
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.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration and development company with an eight-project portfolio covering roughly 360,000 ha (3,600 km2). The Company is advancing its Valley deposit—a large, low-strip, near surface, >1 g/t Au bulk tonnage gold system located in the eastern Yukon—while continuing regional exploration of surrounding targets on the Rogue Project and the broader district 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 across the central Yukon and Alaska. The Company’s comprehensive first-mover position and extensive exploration database provide a distinct competitive advantage and a unique opportunity for investors to be part of multiple discoveries, the advancement of a significant gold deposit, and the creation of a new gold district.
QUALIFIED PERSON
Information in this release has been prepared under supervision of and approved by Thomas Branson, M.Sc., P. Geo., Vice President of Exploration for 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
[email protected]
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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 timing and progression of updated MRE and PEA studies, the effects of Valley deposit parameters on potential future economics, 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.
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[1] Historical sample reported by Burke, M.R. and Carlos, S.A., 2014, in assessment report titled: “2012 rock and soil sampling program, Rogue A, B, D, E properties, Mayo Mining District, Yukon, Canada.”
