Notably, hole V-22-014 intersected a broad zone of sheeted quartz vein mineralization within the Valley intrusion averaging 2.48 g/t gold over 128.2 metres, from bedrock surface at 2.8 metre downhole, within a broader zone of 1.45 g/t gold over 285.2 metres.
The hole was collared 160 metres from the nearest previously announced hole. Full results have also been received for V-22-007, which is mineralized along its entire 410-metre length from bedrock surface, averaging 1.89 g/t gold along the length of the hole, including 3.24 g/t gold over 146.0 metres.
“Hole V-22-014 is the latest step-out drill hole to add significantly to the prospective scale and grade of our unfolding gold discovery at Valley,” said Scott Berdahl, CEO and director of Snowline. “The continuity of strong grades from Valley’s central zone, seen both within holes along hundreds of metres and between holes spaced hundreds of metres apart, demonstrates the presence of a large and robust, unusually rich, bulk tonnage gold system. Comparable quartz vein densities – often with numerous instances of trace visible gold – in many holes for which assays have yet to be received have the potential to carry similar grades. With analytical results pending for nearly 80% of our 2022 drilling, we expect further significant growth to this discovery in the coming weeks and months.”
Hole V-22-008 returned 0.24 g/t gold over 50.5 metres. V-22-012 returned 0.24 g/t gold over 81.0 metres.
Hole V-22-014 was collared in the Valley intrusion, 160 metres southwest of hole V-22-007 and 165 metres southeast of hole V-22-010 (318.8 m at 2.55 g/t Au including 108 m at 4.14 g/t Au). The hole demonstrates lateral and vertical continuity of near-surface, multigram-per-tonne gold mineralization encountered in previous holes at Valley.
V-22-014 encountered high densities of gold-bearing quartz veins in its top 128.2 metres and remained largely in mineralization until exiting into hornfels sedimentary rocks at 326 metres depth. The last more-than-one g/t gold assay occurs as 2.02 g/t gold over 1.5 metres from 339 to 340.5 metres downhole, within hornfels sedimentary rocks. Overall sulphide content of the system is very low.
As with previous holes in this zone, V-22-014 exhibits a relatively high degree of consistency in gold grade. Of the top 128.2 metres, 59 of 103 samples assayed higher than 2 g/t gold – representing 71.2 metres (non-contiguous) or 55.5% of the downhole interval. While high grades of up to 22.4 g/t (1.4 oz/ton) gold are present, they are not primary drivers of the broader mineralized intervals. Applying a cap at 10 g/t gold reduces the top 128.2 metres of the hole by just 4.8% to 2.36 g/t gold, while the broader 285.2 metres interval is affected less, dropping 4.1% to 1.39 g/t gold.
Due to a tallying error that saw two holes summed twice, total drilling meterage for the 2022 season was incorrectly reported on Snowline’s October 12, 2022 news release as 14,495 metres. In fact, a total of 13,320 m was drilled by the company on its Rogue project in 2022, with 11,168 metres drilled at Valley in 27 holes and 2,152 metres drilled at the nearby Gracie target in 5 holes. Presently, results for 2,789 metres (8 holes) have been received from Valley, with assays pending for the remaining 8,378 metres (19 holes). Results for all holes at Gracie remain pending.
Snowline Gold has a 17-project portfolio covering >254,000 hectares. The company is exploring its flagship >111,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin.