Snowline Gold Corp. [TSXV-SGD; OTC-SNWGF] reported analytical results received from two additional exploration holes drilled on its Rogue project’s Valley target in Canada’s Yukon. Both holes – drilled to the northeast as opposed to the usual southwest orientation of holes at Valley – demonstrated consistent and considerable widths of strong mineralization in different parts of the system.
Hole V-23-054 returned 424.0 metres of 1.43 g/t gold, downhole from bedrock surface, expanding the known width of mineralization across the southern extent of the well mineralized zone at Valley. In a separate interval in the same hole, the final 30.0 metres downhole length averaged 0.70 g/t gold, representing a newly recognized area of deep mineralization at Valley that remains open.
Both holes ended in mineralization. Assays for more than 11,400 metres of diamond drilling from Snowline’s 2023 exploration efforts remain pending. Interval widths are reported; true widths of the system are not yet known.
“The current set of drill results includes yet another hole, in yet another part of the Valley intrusion, that expands the extent of known mineralization with an unusually high-grade intersection for a reduced intrusion-related gold system carried over hundreds of metres from surface,” said Scott Berdahl, CEO and Director of Snowline. “We weren’t expecting the length and intensity of gold mineralization encountered in V-23-054, nor to see it extend to depth in the southeastern part of the system, revealing a potential new zone of mineralization. Once again we are impressed by the scale and continuity of our Rogue Project’s Valley target, which remains open in multiple areas. We are keen to see how our understanding of the system evolves with the large quantity of drill assays that are forthcoming for the target.”
Current results expand the already wide distribution of unusually high grades for a reduced intrusion-related gold system at Valley, with mineralized intervals beginning at or near surface. Note the consistency of grades within holes and between holes across a large area. The system remains open to the northeast and at depth in multiple locations.
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 multi-million-ounce deposits currently in production such as Kinross’s Fort Knox Mine in Alaska and Victoria Gold’s Eagle Mine in the Yukon.
Early drill results demonstrate unusually high gold grades for such a system, present near surface across drill intersections of hundreds of metres. 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 is thus considered by the company to have district-scale potential for additional reduced intrusion-related gold systems.
Snowline Gold is a Yukon Territory focused gold exploration company with an eight-project portfolio covering >333,000 ha.