- Arsenopyrite-bearing quartz-carbonate veins intersected in hole J-21-020, drilled 460 m from any previous hole and 1,100 m from high-grade discovery hole J-21-011
- Jupiter's expanded, 4,300 m Phase I program now complete, with assays pending for 13 of 21 holes and evidence of mineralizing system encountered in all 21 holes
- Drilling now underway on intrusion-related Valley gold target, Rogue property.
Snowline Gold Corp. (CSE:SGD)(OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to provide an update on its exploration activities on its flagship Einarson and Rogue projects. Holes J-21-020 and J-21-021, the final two holes of an expanded 4,300 m phase I drill program on Einarson's Jupiter zone, intersected sulphide-bearing quartz-carbonate veins in a 460-metre step-out testing what may be a parallel structural corridor (Figure 2). Assay results from these holes are not anticipated for some time due to laboratory back-logs, but the Company recognizes the presence of such mineralization to be a significant positive indication of the potential of the Jupiter zone
"With such a big step-out, we were swinging for the fences," said Scott Berdahl, CEO and Director of Snowline. "While we don't yet have assays for these holes, it's starting to look a bit like a home run. This hole hit similar veins, alteration and gold pathfinder minerals to those of our recent J-21-011 discovery hole some 1.1 km to its south. It is almost as good as we could hope for. This caps off a very successful Phase I drill program at Jupiter, with exciting intervals already in hand and most assay results still forthcoming. We look forward to returning to Jupiter next year"
Hole J-21-020, drilled at an azimuth of 250° and dipping -50°, encountered multiple zones of arsenopyrite and pyrite including a 9.2 m zone of trace to high concentrations of arsenopyrite from 101.5 m to 110.7 m downhole, with abundant quartz veining from 106.5 m to 110.0 m (Figures 1, 3 & 4).
Hole J-21-021 was drilled from the same pad as J-21-020, also at an azimuth of 250°, but with a steeper dip of -75°. It encountered a similar zone of quartz veining from 98-105 m depth with abundant pyrite, but it lacked obvious occurrences of arsenopyrite.
Jupiter is thought to represent an epizonal orogenic gold system. It is one of nine target zones prospective for orogenic and/or Carlin-style gold mineralization currently recognized on Snowline Gold's 70%-owned, district-scale Einarson project. Adjacent projects Rogue and Ursa are prospective for intrusion-related gold and sediment-hosted gold and base metal deposits. No resources nor reserves have been calculated on any of these targets, and while current results are encouraging, they do not guarantee that economically viable ore bodies will be encountered at Jupiter or elsewhere. Readers are cautioned that without assay results, the true significance of the intersections reported herein is uncertain.
ROGUE PROJECT DRILLING
A 600-metre, phase I drilling program has commenced at the Valley zone on the Rogue project, located south of Einarson (Figure 5). This drilling targets intrusion-related gold mineralization in sheeted veining and gold-bearing structures within and around a newly-discovered intrusion thought to belong to the prolific Tombstone plutonic suite.
Snowline CEO Berdahl continued, "With the drill now turning on the first-ever drill test of the Valley zone, we're optimistic that further discovery awaits Snowline Gold this season."
Information in this release has been prepared and approved by Scott Berdahl, P. Geo., Chief Executive Officer of Snowline and a Qualified Person for the purposes of National Instrument 43-101.
ABOUT Snowline Gold Corp.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seven-project portfolio covering >90,000 ha. The Company is exploring its flagship 72,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline's project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross' Fort Knox mine, Newmont's Coffee deposit, and Victoria Gold's Eagle Mine. Snowline's first-mover land position provides a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
ON BEHALF OF THE BOARD
Scott Berdahl, MSc, MBA, PGeo
CEO & Director
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including statements about the Company reviewing its newly acquired project portfolio to maximize value, reviewing options for its non-core assets, including targeted exploration and joint venture arrangements, conducting follow-up prospecting and mapping this summer and plans for exploring and expanding a new greenfield, district-scale gold system. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things: risks related to uncertainties inherent in drill results and the estimation of mineral resources; and risks associated with executing the Company's plans and intentions. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
SOURCE:Snowline Gold Corp.
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