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Snowline Gold Corp
Symbol SGD
Shares Issued 102,944,968
Close 2022-01-11 C$ 0.65
Recent Sedar Documents

Snowline Gold drills 4.7 m of 8.3 g/t Au at Einarson

2022-01-12 09:17 ET - News Release

Mr. Scott Berdahl reports

SNOWLINE GOLD INTERSECTS 8.3 GRAMS PER TONNE GOLD OVER 4.7 METRES INCLUDING 22.1 GRAMS PER TONNE OVER 1.1 METRES IN 460 METER STEP-OVER AT ITS JUPITER ZONE, EINARSON

Snowline Gold Corp. has received remaining assay results from phase I drilling at the Jupiter zone on its district-scale Einarson gold project in Yukon, Canada. Among these results, hole J-21-020 returned 8.3 grams per tonne gold over 4.7 metres, including 22.1 g/t Au over 1.1 metres in a quartz-carbonate vein breccia carrying visible gold. True widths for this intersection are not known but are estimated at approximately 90 per cent of the reported interval.

"We are pleased to see high grades associated with the visible gold discovered in this new part of the Jupiter zone," said Scott Berdahl, chief executive officer and director of Snowline Gold. "While the area lacks mineralized outcrops to guide our decision making at Jupiter, this target was particularly blind but it does have a broad geochemical anomaly. As a random shot through this target, today's results are particularly encouraging -- they give us a foot in the door in locating and delineating this new mineralization centre. With results from widely space drilling over 1.1 kilometres we are just scratching the surface. We look forward to expanding on this discovery and others as we further test the three km long geochemical anomaly at Jupiter in the upcoming 2022 field season."

The bottom of hole J-21-016 returned 0.95 g/t Au over 4.5 m from 175.8 m down hole. Holes 17 through 19 were drilled to test a possible parallel trend to the discoveries in holes 10-13 and 15, and they intersected grades of up to 3.2 g/t Au. Hole J-21-021, which was drilled at a steeper angle from the same pad as hole 20, intersected a large pyritic zone with quartz-carbonate material but generally subdued gold values.

The style of mineralization in hole J-21-020 is consistent with that observed on surface in quartz-carbonate float boulders and in drill discoveries made by Snowline earlier in the season on Jupiter, suggesting the presence of a large mineralized system. It is also consistent with occurrences of near-source float mineralization observed at the Avalanche Creek target, some 12 kilometres to the south of Jupiter.

This phase I drill program represents the first-ever drilling at Jupiter and marks the discovery of a new style of mineralization for this region of the Yukon. Jupiter is thought to represent an epizonal orogenic gold system, with similarities to systems like New Found Gold Corp.'s Queensway discoveries in Newfoundland and Agnico Eagle Mines Ltd.'s Fosterville mine in the Bendigo district of Australia.

Jupiter is one of nine 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 calculated on 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.

Forthcoming results

The company awaits assay information for its four drill holes from the Valley zone on the nearby Rogue project, some 32 kilometres to the south of Jupiter. 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.

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 m down-hole sample length was used. 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 g 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 g 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 50 g sample (ALS code: Au-GRA22). 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, chief executive officer 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 100,000 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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