Deep-Seated Intrusion-Related Gold System In Central Yukon
Snowline Gold Corp. (CSE: SGD) has identified a wide zone of high gold values on its 100% owned, 125 hectare Rainbow Gold Project, located within the Tintina Gold Belt in the Yukon.
CEO, Nikolas Matysek, said the Rainbow project covers a gold and pathfinder element soil anomaly associated with surface alteration caused by a recently discovered intrusion, thought to belong to the mid-Cretaceous Tombstone Plutonic Suite.
Other Tombstone-related gold deposits within the Tintina Gold Belt include Fort Knox (~11 million ounces Au), and Eagle (~4.8 million ounces Au).
“The Rainbow Gold Project is another key element in Snowline’s Yukon-focused asset portfolio,” Mr Matysek said.
“The sampling and geophysics to date indicate we may be on top of a prospective intrusion like the types associated with other large deposits in the Tintina Gold Belt” said Nikolas Matysek, Chief Executive Officer of Snowline.
“Historical work has established a clear deposit thesis that we will move to validate this season.”
Mr Matysek said Snowline is reviewing the complete project portfolio it acquired from a private vendor and is focused on planning and prioritising its exploration to maximise shareholder value.
Specifically, it is examining multiple options for its non-core assets, including targeted exploration and joint venture arrangements.
Grid soil geochemistry completed over the property has revealed a 1 km by 300 m zone of high gold values (to 1.27 g/t) accompanied by anomalous bismuth, tellurium and tungsten flanked by zones of anomalous arsenic, antimony and silver.
This geochemical anomaly corresponds to the eroded edge of a 3×2 kilometre magnetic anomaly. Prospecting returned shear-hosted sulphide-bearing outcrop samples grading 4.1 g/t Au and locally-derived angular quartz float samples running 7.98 g/t Au.
The magnetic anomaly reveals the potential size of the alteration system, and stream geochemistry anomalies that are 2.5 kilometres from the soil anomaly suggests that mineralising fluids may have travelled at a similar scale.
A programme of drone surveying, geochemical sampling and structural mapping is planned to establish suitable drill targets on the Rainbow property.
