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Snowline Gold Corp
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Snowline Gold drills six m of 13.9 g/t Au at Einarson

2021-10-13 09:23 ET - News Release

Mr. Scott Berdahl reports


Snowline Gold Corp. has released additional assay results from phase I drilling at the Jupiter zone on its district-scale Einarson gold project in Yukon, Canada. A set of three holes drilled radially from the same pad as J-21-011 (see Snowline's Aug. 25, 2021, news release) all hit significant gold mineralization, indicating a broad zone comprising multiple gold-bearing structures and rock units.

"These results build on our discovery hole, demonstrating the presence of a robust gold system at Jupiter," said Scott Berdahl, chief executive officer and director of Snowline. "We were excited this summer to get the excellent results from J-21-011. To follow that up with multiple broad gold intercepts with high grades across multiple holes indicates the significance of this mineralizing system. Combined with our observation of gold in various forms -- including native gold -- this suggests a large, fertile fluid system that readily precipitated gold in the Jupiter area. We look forward to seeing more drill hole assay results from encouraging intersections observed in broad stepouts as the Jupiter discovery continues to take shape."

Hole J-21-010 intersected extensive gold mineralization, including five distinct gold zones with grades above 8.9 grams per tonne Au, to a maximum of 31.1 g/t Au over 1.5 metres in quartz at the base of an interval of mineralized mudstone. Averaging all gold values from surface to the base observed mineralization, including unmineralized intervals and assuming no gold content in the top 6.5 metres of overburden and unsampled material, yields 1.17 g/t Au over 185 metres.

Hole J-21-012 was thought to be mostly barren due to a paucity of gold-associated minerals and was only partially sampled. Limited sampling, however, returned a zone of 13.9 g/t Au over six metres, including 45 g/t Au over 1.5 metres of altered mudstones cut by quartz-carbonate veins.

Hole J-21-013 was drilled toward the east, away from the target area and surface geochemical anomaly. However, it too hit extensive gold mineralization, including a 27-metre interval averaging 2.59 g/t Au and a separate interval of 13.8 g/t Au over 2.5 metres.

At Jupiter, anomalous gold concentrations are found in and around fault zones, in local fold hinges, in quartz veins and disseminated within sulphide-bearing mudstones of the Narchilla formation. Gold is commonly associated with acicular to fine-grained "sooty" arsenopyrite and varying amounts of pyrite, though it is also observed in quartz carbonate veins with low sulphide content and as rare instances of native gold. Multiple vein generations demonstrate that multiple fluid events affected the rocks. Gold mineralization usually occurs within larger zones of clay alteration that partially bleach the colours of the host mudstones. A distinct olive-green coloured clay alteration is associated with many mineralized zones. The diversity in styles and settings of gold mineralization, along with host-rock alteration observed over more than a kilometre, are evidence of a large, fertile hydrothermal fluid system that readily deposited gold.

Jupiter likely represents an epizonal orogenic gold system. It is one of 10 target zones prospective for orogenic and/or Carlin-style gold mineralization currently recognized on Snowline Gold's 70-per-cent-owned, district-scale Einarson project. Adjacent projects Rogue and Ursa are prospective for intrusion-related gold, and sediment-hosted gold and base metal deposits. No resources nor reserves have been estimated for any of these targets, and while current results are encouraging, they do not guarantee that economically viable orebodies will be encountered at Jupiter or elsewhere. Readers are cautioned that without assay results, the true significance of the intersections reported herein is uncertain.

Forthcoming results

The company awaits assay information on an additional nine holes from Jupiter, including J-21-020 which contained visible gold, and other holes with encouraging zones of alteration, quartz-carbonate veins and/or sulphide mineralization.

In addition to the remaining drill hole results from the Jupiter zone, the company also awaits assay information for its four holes drilled at the Valley zone on the nearby Rogue project. All four holes at Valley intersected trace amounts of visible gold in drill core. Valley is a reduced-intrusion related gold target following a bulk-tonnage exploration model. Gold is hosted in large networks of centimetre-scale sheeted quartz veins within and around a felsic intrusion.

In hole V-21-001, sheeted quartz veins were observed across its 161-metre length. Thirty-one of the many veins observed in this hole contained trace amounts of visible gold, with up to five gold grains in a given vein. Visible-gold bearing veins were distributed roughly evenly across the length of the hole.

Quality assurance/quality control and qualified person

On receipt from the drill site, drill core was systematically logged for geological attributes, photographed and sampled. Smaller sample lengths were used to isolate zones of interest, otherwise a default 1.5-metre downhole sample length was used. The holes in this release were not sampled top to bottom. Core was cut in half lengthwise, with one-half collected for analysis and one-half stored as a record. Standard reference materials, blanks and duplicate samples 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 and by Snowline personnel to ALS laboratories' preparatory facility in Whitehorse, Yukon, with analysis completed in Vancouver.

ALS is accredited to ISO 17025:2005 UKAS ref. 4028 for its laboratory analysis. Samples were crushed by ALS to greater than 70 per cent passing below two millimetres and split using a riffle splitter. Two hundred fifty-gram splits were pulverized to greater than 85 per cent passing below 75 microns. An aqua regia digest with an inductively coupled plasma mass spectroscopy (ICP-MS) finish was used for 51-element analysis on 50-gram samples (ALS code: Au-ME-TL44). Any sample returning greater than 50 parts per billion Au was reanalyzed for gold content by fire assay with an inductively coupled plasma atomic emission spectroscopy (ICP-AES) finish on 30-gram samples (ALS code: Au-ICP21). Overlimit samples of greater than 10 g/t Au were analyzed by fire assay with a gravimetric finish again on a 30-gram sample (ALS code: Au-GRA21). Where more than one gold assay exists for a sample, assays reported herein prioritize these methods in reverse order.

Information in this release has been prepared and approved by Mr. Berdahl, PGeo, CEO of Snowline and a qualified person for the purposes of National Instrument 43-101.

About Snowline Gold Corp.

Snowline Gold is a Yukon-focused gold exploration company with a seven-project portfolio covering greater than 106,000 hectares. The company is exploring its flagship 72,000-hectare 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's 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.

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