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Snowline Gold Corp
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Close 2021-11-18 C$ 0.57
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Snowline drills 3.6 m of 13.72 g/t Au at Einarson

2021-11-18 09:31 ET - News Release

Mr. Scott Berdahl reports


Snowline Gold Corp. has released additional assay results from phase 1 drilling at the Jupiter zone on its district-scale Einarson gold project in Yukon, Canada. The highlight of these results are from hole J-21-015, which was collared 153 metres northwest of previous holes J-21-010 to J-21-013 (see Snowline press releases dated Aug. 25, 2021, and Oct. 13, 2021). The hole intersected a wide, mineralized quartz-carbonate breccia which averaged 13.7 g/t Au over 3.6 metres beginning at 119.1 metres downhole.

Brecciated and stylolitic textures dominate the quartz carbonate zone. Siltstone wall-rock clasts and acicular arsenopyrite comprise grey areas, with pyrite also present. The predominantly siltstone section immediately above the main vein (119.1 to 119.75 m) returned 17.5 g/t Au over 0.65 m. The 0.95 m interval at the base of the zone (121.75 m to 122.7 m) returned 25.2 g/t Au. The two 1.0 m samples from between these returned 7.17 g/t Au and 6.89 g/t Au. True width of the zone is not known but is estimated between 50 per cent to 70 per cent of the downhole width.

"We are excited to intersect additional high-grade gold mineralization in this significant step-out from our discovery holes," said Scott Berdahl, chief executive officer (CEO) and director of Snowline. "Jupiter is a blind target -- it's close to the surface but covered by thin overburden. We did not have a mineralized discovery outcrop to trench nor to drill, so our phase 1 holes were somewhat random tests of a blind system. Nonetheless, these drill holes are regularly hitting gold, and this latest intersection further expands the footprint of known in-situ mineralization. We still have a lot to learn, and have yet to delineate the length, depth or even the breadth of the gold system. We are eagerly awaiting assay results from the remaining five holes at Jupiter, as well as all four holes from the Valley zone on our Rogue project."

Assay results for five drill holes are still pending. Snowline's 2021 drill campaign is the first ever drill testing of the recently identified Jupiter zone on the district-scale Einarson gold project.

Drill hole descriptions

Massive to brecciated, well-mineralized quartz-carbonate material was intersected in drill hole J-21-015 at 119.1 m downhole, containing grey siltstone fragments and intercalated siltstone layers. Well-developed acicular arsenopyrite crystals (up to 10 per cent locally) occur in and near stylolites in quartz, within mineralized siltstone fragments and in vein selvages. Pyrite occurs as medium to coarse grained crystals in quartz and host rocks. The highest gold grades occur towards and within the margins of the vein system (Table 1).

Hole J-21-016 was collared from the same drill pad as J-21-015 but drilled at a steeper angle. Assays have been received for the top 174 m of this 233 m hole, while assays below this remain pending. This hole hit zones of hydrothermally altered siltstone and small, non- to subtly mineralized quartz veins. Assay results received from J-21-016 so far end in a zone of low-grade mineralization (0.20-0.87 g/t Au) and similarly veined material extends below; assays pending from the bottom of the hole will provide additional information. The hole provides valuable context for delineating the extent of mineralized system.

Holes J-21-008 and J-21-014 were drilled in the vicinity of earlier holes (J-21-001 to J-21-007 and J-21-009) and they both intersected zones of altered siltstone, and minor mineralized quartz-carbonate veins. J-21-008 intersected quartz veins around a sulphide-bearing fault zone that assayed 1.28 g/t Au over 3.5 m from 66.5 m downhole.

J-21-014 intersected 3.29 g/t Au over 0.8 m from 38.4 m downhole. This interval also returned high antimony (127 ppm) relative to most other holes. Antimony is an important associated element in the highest-grade zones in epizonal orogenic gold systems such as Fosterville in Australia or Queensway in Newfoundland. As such, this information may prove useful in vectoring toward any such centers of the system present at Jupiter, if they are present.

True widths have not yet been determined for these intervals.

Drilling at Jupiter has so far tested only parts of a 1.1 km length within the roughly three km long gold-in-soil anomaly. The strongest assay results thus far are from the south end of this partially tested length and visible gold was encountered at its north end. The gold system remains open in all directions.

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.

Table 1 -- hole details and notable intervals in holes for which assays have been received since Snowline's Oct. 13, 2021, news release. True widths are not yet known with certainty but in hole J-21-015 are estimated to run between 50 per cent and 70 per cent of reported down-hole intervals. Note that J-21-016 has not yet been assayed in its entirety, with additional assays expected from the bottom of the hole.

Forthcoming results

The company awaits assay information on an additional five drill 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, the company also awaits assay information for its four drill holes from 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 that presents a bulk-tonnage gold exploration model where gold is hosted in widespread arrays of centimetre-scale sheeted quartz veins within and around a felsic intrusion.

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

QA/QC 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 m 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 onehalf 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 over 70 per cent passing below two mm and split using a riffle splitter. Two-hundred-fifty g splits were pulverized to over 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 g samples (ALS code: Au-ME-TL44). Any sample returning over 50 ppb Au was reanalysed for gold content by fire assay with an inductively coupled plasma atomic emission spectroscopy (ICP-AES) finish on 30 g samples (ALS code: Au-ICP21). Overlimit samples of over 10 g/t Au were analyzed by fire assay with a gravimetric finish again on a 30 g 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 Scott Berdahl, PGeo, 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-focused gold exploration company with a seven-project portfolio covering over 100,000 ha. The company is exploring its flagship 72,000 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'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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