Snowline Gold Corp. [SGD-TSXV; SNWGF-OTC] reported results from the second and third holes of its 2023 drilling program at the Valley target on its Rogue project in Canada’s Yukon Territory. Hole V-23-036, drilled to test the southeast edge of Valley’s near-surface corridor of multiple-gram-per-tonne gold mineralization, succeeded in expanding its known extent roughly 75 metres farther to the southeast.
The hole averaged 2.92 g/t gold over 143.5 metres from 23.5 metres downhole, within a broader interval of 1.53 g/t gold over 414.5 metres from bedrock surface. In addition, hole V-23-035 expanded known mineralization to the western edge of the Valley intrusion, returning 1.01 g/t gold over 396.5 metres from bedrock surface. Analytical results for all 17 holes (6,650 m) beyond V-23-036 at Valley are pending, with drilling at Valley continuing.
Hole V-23-036 returned 2.92 g/t gold over 143.5 metres within broader mineralized interval averaging 1.53 g/t gold over 414.5 metres from surface, extending near-surface, multiple-gram-per-tonne corridor on the Rogue project’s Valley discovery by 75 metres to the southeast.
Hole V-23-035 returned 1.01 g/t gold over 396.5 metres from surface, demonstrating robust near-surface mineralization to western margin of Valley intrusion.
Phase II drilling under way at the Rogue project’s Gracie target, a potential intact Valley-style gold system located in between the gold-bearing Valley and Reid targets.
Multiple generations of sheeted quartz veins along with bismuthinite identified within an exposed intrusion on recently consolidated Cujo target within the Rogue Plutonic complex.
“Today’s results highlight the significant exploration upside present within the broader footprint of last season’s widely spaced, first-pass drilling of the Rogue project’s Valley target,” said Scott Berdahl, CEO and director of Snowline. “This is particularly true when it comes to Valley’s extensive zone of near-surface, multiple-gram-per-tonne gold mineralization. The gold grades and continuity in V-23-036 add a large tonnage of potentially high-value rock to this zone, which remains open further to the southeast. In addition, the breadth of the mineralized interval in V-23-035, drilled from the western margin of the intrusion, highlights the breadth of strong mineralization present outside of the highest-grade core at Valley, both laterally and to depth.
“This has strong favourable implications for a favourable strip ratio, low internal dilution, and of course overall gold content in any potential future operation at Valley. With our exploration season still ramping up, we are encouraged by these early results, and we look forward to additional results from Valley as well as from additional targets.”
Results from V-23-036 expand the known extent of near surface, over two g/t Au mineralization at Valley and further demonstrate strong continuity of mineralization at Valley.
The +10,000-metre drill program at the Rogue project’s Valley discovery is continuing, with two drill rigs active on site. To date, over 8,000 metres has been drilled on the Valley target in 2023, with 18 holes completed, an additional two holes in progress, and significant additional drilling planned. Analytical results for all but three holes drilled at Valley in 2023 are pending.
A +2,000-metre diamond drill program is under way at Gracie, with the commencement of drilling on G-23-006. The phase II program will begin with four drill holes, building on the results of 2022 phase I drilling. The 2022 program confirmed the presence of a reduced intrusion-related gold system (RIRGS) along with gold-bismuth-tellurium mineralized quartz veins oriented parallel to the dominant mineralized vein set at the Valley target. It also provided a potential vector toward the heat source; the current program will test for the presence of an intrusion to the northwest of the 2022 drill holes.
Gracie is an unexposed RIRGS target. Unlike the RIRGS at the Valley target, which is partially eroded, a mineralized system at Gracie would be completely intact, presenting an attractive exploration target roughly four km from the edge of the Valley intrusion to its west, and a similar distance from the gold-bearing Reid intrusion to its east.
Surface work at the Rogue project’s recently consolidated Cujo target identified multiple generations of sheeted quartz veins within an exposed intrusion of the Rogue Plutonic complex.
A recent grab sample of float material from hornfels northwest of the Cujo intrusion returned 63.8 g/t gold, while grab samples of quartz vein material from within the intrusion assay from less than 50 parts per billion gold to 12.8 g/t gold.
Outside of Rogue, a phase I drill program using a fourth drill is under way at the company’s Cliff project in the southwest Yukon.
Snowline Gold is a Yukon territory focused gold exploration company with an eight-project portfolio covering over 333,000 hectares.