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Snowline Gold Corp
Symbol SGD
Shares Issued 146,907,470
Close 2024-01-12 C$ 5.97
Market Cap C$ 877,037,596
Recent Sedar Documents

Snowline Gold drills 383 m of two g/t Au at Rogue

2024-01-15 09:46 ET - News Release

Mr. Scott Berdahl reports

SNOWLINE GOLD INTERSECTS STRONG MINERALIZATION AT OPEN EASTERN EDGE OF ITS VALLEY TARGET, ROGUE PROJECT, YUKON, WITH DRILL RESULTS OF 383.0 M AT 2.0 GRAMS PER TONNE GOLD FROM SURFACE INCLUDING 107.5 M OF 4.0 GRAMS PER TONNE GOLD

Snowline Gold Corp. has released analytical results from three additional drill holes from its 2023 exploration campaign at the Valley target on its Rogue project in Canada's Yukon. All three holes, collared near the open eastern boundary of Valley's well-mineralized, near-surface gold corridor, returned broad intervals of robust mineralization. Hole V-23-066 averages two grams per tonne Au over 383 metres down hole from surface, including 3.95 g/t Au over 107.5 m. Within this is one of the highest-grade sustained intervals seen to date at Valley, averaging 7.52 g/t Au over 16 m down hole. Hole V-23-067 averages 1.62 g/t Au over 418.4 m, including 2.91 g/t Au over 152 m with a higher-grade zone of 5.58 g/t Au over 29 m. Assays for more than 2,640 m of diamond drilling from Snowline's 2023 exploration efforts are forthcoming.

"Today's results highlight the strength and scale of mineralization near the open, eastern edge of the well-mineralized, near-surface corridor at our Valley target," said Scott Berdahl, chief executive officer and director of Snowline. "V-23-066 is drilled through a gap in the east-central part of the target, carrying an average grade of almost four g/t Au over a 107.5 m downhole interval, within a broad interval of consistent, multigram gold starting from surface. Such grades are highly atypical of a reduced intrusion-related gold system. Additional strong grades in holes V-23-065 and -067 bolster the known scale of the eastern part of the system, where we are still chasing open boundaries of mineralization at Valley. As we await further drill results and metallurgical studies, this demonstration of robust mineralization in the eastern part of the target highlights a key direction for potential expansion of the Valley system that we will be testing in our upcoming 2024 exploration campaign."

Hole V-23-067

The entire hole is mineralized. V-23-067 averages 1.62 g/t Au across 418.4 m down hole from bedrock surface (at 3.6 m down hole) to the end of hole at 422 m. From 62 m down hole, the hole averages 2.91 g/t Au over 152 m, including 29 m of 5.58 g/t Au (influenced by a three m run averaging 21.87 g/t Au). Despite localized higher grades, mineralized intervals are carried by consistently anomalous gold values, as indicated by the high remainder values (which exclude higher-grade subintervals) along with the high capped values (limiting any assay to a maximum of 10 g/t Au).

V-23-067 is collared 54 m to the northwest of V-23-065 (this release) and 39 m to the southwest of V-22-007 (410 m at 1.89 g/t Au from surface, including 3.24 g/t Au over 146 m Au starting at 56 m depth, see Snowline news release dated Nov. 15, 2022). This hole is collared in coarse-grained granodiorite and continues in coarse-grained granodiorite, with minor xenoliths and dikes of finer-grained intrusive rock, until intersecting the finer-grained intrusive at 300 m where gold grades are lower with a corresponding decrease in quartz vein density. The hole remained in the fine-grained intrusive rock to 351 m, where it continued to intersect course-grained granodiorite until to the end of the hole at 422 m.

V-23-067 is the northeasternmost in a southwest-northeast fence of holes drilled perpendicular to the northwest-southeast strike of the mineralized trend at Valley. It extends the known boundary of multiple-gram-per-tonne gold mineralization roughly 65 m to the northeast along this section and demonstrates the open nature of strong mineralization at Valley.

Hole V-23-066

Hole V-23-066 is collared in coarse-grained granodiorite within the Valley intrusion roughly 48 m northwest of the nearest hole, V-22-007 (410 m at 1.89 g/t Au from surface, including 3.24 g/t Au over 146 m Au starting at 56 m depth, see Snowline news release dated Nov. 15, 2022) and 58 m southeast of V-23-037 (383.8 m at 2.47 g/t Au, including 120 m at 4.06 g/t Au from surface, see Snowline news release dated Aug. 3, 2023).

The hole commences in strong, sheeted gold-bearing quartz vein mineralization from bedrock surface at 3.5 m down hole and continues in predominantly strong mineralization until approximately 100 m down hole, near where the hole intersects a central, valley-parallel fault at 98 m down hole. Quartz vein densities and occurrences of visible gold increase below the fault, with higher-grade mineralization continuing until a second valley-parallel fault at 277 m down hole. Below the second fault, quartz vein densities and occurrences of visible gold decrease along with the gold grade, though low-grade mineralization continues to the end of the hole at 386.5 m, where the hole terminates within the intrusion. Multiple gold-bearing quartz vein orientations are present, with a dominant sheeted vein array striking northwest and steeply dipping to the northeast, as commonly seen in the primary mineralized zone at Valley.

Over all, the entire 383 m down hole from bedrock surface averages two g/t Au, with an internal interval of 107.5 m averaging 3.95 g/t Au beginning from 110 m down hole. Within this, the highest grades are seen in the core with a subinterval of 16 returning 7.52 g/t Au. The presence of such high and consistent gold grades beginning at surface in a large gap in previous drilling further derisks the mineral system at Valley, demonstrating strong continuity within the well-mineralized multigram gold zone.

A twinned PQ-diameter hole, V-23-MET-001, was drilled from the same drill pad with similar orientation to V-23-066. Material from this hole will be used for additional metallurgical and processing test work over the coming months.

Hole V-23-065

V-23-065 is collared 69 m to the southwest of V-22-027 (481.5 m at 0.69 g/t Au, starting from 11.5 m depth, see Snowline news release dated May 2, 2023), and 83 m to the northeast of V-23-036 (414.5 m at 1.53 g/t Au starting at four m depth, see Snowline news release dated July 18, 2023), with all three holes forming a fence across the southeastern part of the well-mineralized, near-surface corridor within the Valley intrusion. This hole is collared in coarse-grained granodiorite, with minor xenoliths and dikes of finer-grained intrusive rock, until intersecting the finer-grained intrusive at 343 m where gold grades are lower with a corresponding decrease in quartz vein density. The hole remained in the fine-grained intrusive rock until its termination at 428 m.

The hole exhibits a moderately strong mineralized interval, demonstrating the strength and scale of the system in this area. V-23-065 averages 1.14 g/t Au across 344.5 m down hole from bedrock surface (at 5.4 m down hole), with an internal interval of 1.60 g/t Au over 177.5 m from 58 m down hole. A second mineralized interval begins just below this, averaging 0.54 g/t Au over 72 m from 356 m down hole, continuing to the end of the hole.

V-23-065 adds breadth to the known extent of near-surface greater than one g/t Au mineralization in the eastern part of the Valley gold system, which remains open. This hole and the others in this release demonstrate the robustness of the system, as drilling has yet to define the edges of the well-mineralized, near-surface corridor within the Valley intrusion.

Quality assurance/quality control

On receipt from the drill site NQ2-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline's 2023 field 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 one m in length; otherwise, a default 1.5 m downhole sample length was used. Core was cut in half lengthwise along a predetermined 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 one-fourth core samples by splitting the one-half 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's 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 greater than 85 per cent passing below two millimetres and split using a riffle splitter. Splits of 250 grams were pulverized to greater than 85 per cent 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 analyzed for gold content by fire assay with an atomic absorption spectroscopy (AAS) finish on 30 g samples (BV code: FA430). Any sample returning greater than 10 g/t Au was reanalyzed by fire assay with a gravimetric finish on a 30 g sample (BV code: FA530).

For the purposes of this release, mineralized intervals are defined as runs of mineralization with no break greater than five m assaying less than 0.1 g/t Au, including any subsections thereof.

About Rogue

The Valley target on Snowline's flagship Rogue project is a newly discovered, bulk-tonnage-style, reduced intrusion-related gold system (RIRGS), with geological similarities to multimillion-ounce deposits currently in production such as Kinross's Fort Knox mine in Alaska and Victoria Gold's Eagle mine in Yukon. Early drill results demonstrate unusually high gold grades for such a system, present near surface across drill intersections of hundreds of metres. Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays within and along the margins of a one-kilometre-scale, mid-Cretaceous-aged Mayo-suite intrusion. Valley is an early-stage exploration project without a resource estimate, and while initial results are encouraging, the presence or absence of an economically viable orebody cannot be determined until additional work is completed.

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. The Rogue project is thus considered by the company to have district-scale potential for additional reduced intrusion-related gold systems.

About Snowline Gold Corp.

Snowline Gold is a Yukon-focused gold exploration company with an eight-project portfolio covering greater than 333,000 hectares. The company is exploring its flagship greater than 94,000 ha Rogue gold project 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. The company's first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

Qualified person

Information in this release has been prepared under supervision of and approved by Thomas K. Branson, MSc, PGeo, vice-president, exploration, of Snowline Gold, as qualified person for the purposes of National Instrument 43-101.

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