Snowline Gold Corp. (CSE: SGD) has obtained further positive drill results from Phase I drilling at the Valley zone on its Rogue gold project in the Yukon Territory, Canada.
Hole V-21-001 intersected a broad zone of high gold values associated with visible gold in sheeted vein arrays. The hole averaged 1.27 g/t Au (uncapped) over 108.0 m from 19.5 m downhole, within a broader zone of mineralisation averaging 1.09 g/t Au (uncapped) over 135.0 m from 5.0 m downhole.
“These results build on the recently announced assay results for Hole V-21-002 (1.01 g/t Au over 136.8 m; reported January 25, 2022), demonstrating encouraging grade continuity in the mineralised system,” CEO, Scott Berdahl, said.
“This second set of drill results confirms the tenor of the Valley discovery. We are excited to see such consistent mineralisation within and between our first two holes. This is a very strong start and gives us a lot to build on in the upcoming 2022 exploration season.
“Given the scale of the associated soil anomaly and the distribution of sheeted vein arrays we have seen on surface, there appears to be a lot of high potential ground to explore as we test the extents of this mineralised system. My congratulations again to the Snowline technical team on their second significant drill discovery in our first field season—this is a remarkable achievement.”
Drill hole V-21-001 totalled 161 m in length and averaged 0.95 g/t Au over the full 160.5 m (excluding the top 0.5 m of overburden which was not assayed). The hole ended in elevated to anomalous gold mineralisation, with the final 7.0 m of drilling averaging 0.34 g/t Au, including 1.65 g/t Au over 0.55 m from 159.0 m carrying trace visible gold.
Based on the geological setting, the style of mineralisation observed and on geochemical and mineral associations observed in drill core, Valley is interpreted to be a reduced intrusion related gold system (RIRGS). Elsewhere, RIRGS gold deposits are known to form important commercial gold resources, including Victoria Gold Corp.’s Eagle Mine in the Yukon and Kinross Gold Corporation’s Fort Knox Mine in Alaska. Both deposits are hosted in intrusive rocks thought to be associated with those at Valley.
Valley is currently a discovery-stage bulk-tonnage prospect with no estimated resources nor reserves. At this early stage it is not possible to determine the size of the mineralised system nor whether it will prove to be economically viable.
Assay results for V-21-003 and V-21-004 have yet to be received. Both remaining holes at Valley intersected trace amounts of visible gold in drill core along with extensive zones of sheeted quartz veins. Full results from these holes are expected in the coming weeks.
With over C$8.6M in the treasury, Snowline is actively preparing for a busy 2022 exploration season. The upcoming programme will see at least two drills turning on an 8,000+ m programme focused on the company’s Jupiter and Valley discoveries along with nearby targets. This work continues to build toward establishing North America’s newest gold district in the Yukon’s Selwyn Basin.
The company currently has a diamond drill under contract and on site at Valley, overwintering for a quick and cost-effective resumption of drilling in Spring 2022. Given the scale of the associated geochemical anomaly, the extent of sheeted veins observed on surface and the potential for higher vein densities within the intrusion, a 3000+ m drill programme is planned at Valley to establish the scale and continuity of the mineralised zone.
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