SNOWLINE GOLD CORP. is pleased to announce it has staked additional claims around the Cliff and Tosh Gold Projects, expanding them by 2,121 hectares and 2,069 hectares, respectively. The new claims consolidate the land positions at each project and cover additional prospective zones with historical elevated gold-in-soil sampling results"We are excited to have consolidated Snowline's position around the Cliff and ...
  • Cliff Gold Project expanded 4.5-fold to 2,724 hectares to cover an additional 3 target areas
  • Tosh Gold Project expanded 2.3-fold to 3,700 hectares to connect zones of gold mineralization along known structural trends

SNOWLINE GOLD CORP. (CSE:SGD) (the "Company" or "Snowline") is pleased to announce it has staked additional claims around the Cliff and Tosh Gold Projects, expanding them by 2,121 hectares and 2,069 hectares, respectively. The new claims consolidate the land positions at each project and cover additional prospective zones with historical elevated gold-in-soil sampling results

"We are excited to have consolidated Snowline's position around the Cliff and Tosh projects," said the Company's Chief Executive Office Nikolas Matysek, "Our expanded claims now fully cover all of the high-priority targets, as well as prospective adjacent ground, identified by earlier prospecting. Snowline has developed a diversified portfolio of gold projects throughout the Yukon, and we will examine all our options as we continue to advance our portfolio of projects this summer."

The Cliff Project

Snowline has staked 102 new claims around the Company's Cliff Gold Project located in southwestern Yukon's Ruby Range placer gold district (see March 16, 2021 release - Snowline Gold Corp. Introduces 100% Owned Cliff Gold Project for additional information). The total size of the Cliff Project has been expanded by 2,121 hectares to a new total of 2,724 hectares. The new claims provide better coverage around the main "Cliff" zone, including a major fault zone downslope from the target. The new staking also covers three additional target areas:

  • The "Hi" zone is a 1.4 km long zone of elevated soils and talus fines over an exposure of the Ruby Range batholith. Eighteen of 44 historical soil samples in this area returned values above 40 ppb Au, to a maximum of 6.8 g/t Au.
  • The "Strike" zone is a 1.5 x 1.5 km area with variably anomalous gold and arsenic in historical soils and talus fines to a maximum concentration of 1.26 g/t Au along the contact of the Kluane schist and the Ruby Range batholith.
  • The "Spruce" zone has historic stream sediment samples up to 0.46 g/t Au that are downslope from soil samples up to 0.5 g/t Au.

Planned follow-up in 2021 will include detailed mapping and prospecting.


The Tosh Project

The Company has staked 99 new claims around the Tosh Gold Project in the southwestern Yukon, which is located in a geological and structural setting similar to Newmont's Coffee deposits (see March 23, 2021 release - Snowline Gold Corp. Introduces 100% Owned Tosh Gold Project for additional information). The total size of the Tosh Project has been expanded by 2,069 hectare to a new total of 3,700 hectares. The new staking connects high priority target areas into a single claim block. The larger claim position allows for the first detailed systematic look at the mineralizing system and better coverage along strike of kilometre-scale mineralized trends.

At Tosh, Snowline is gearing up for regional assessment and advancing existing targets in 2021. The regional assessment will be done through detailed stream sediment surveys. Geophysical surveying and geological mapping will guide target advancement.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Scott Berdahl, P. Geo., Chief Operating Officer of Snowline and a Qualified Person for the purpose of NI 43-101.

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a 7-project portfolio covering over 70,000 ha. The Company is exploring its flagship 64,000 Ha Einarson and Rogue gold projects in the prospective yet underexplored Selwyn Basin, with drilling expected to commence in mid-2021. Snowline's projects all lie in the prolific Tintina gold province that hosts multiple million-ounce-plus gold mines and deposits, from Kinross' Fort Knox to Newmont's Coffee. Snowline's first-mover claim position presents a unique opportunity to explore and expand a new greenfield, district-scale gold system.

ON BEHALF OF THE BOARD

Nikolas Matysek, B.Sc. (Geol)
CEO & Director

CONTACT:
Snowline Gold Corp.
Nikolas Matysek, CEO
+1-778-228-3020
info@snowlinegold.com

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.



View source version on accesswire.com:
https://www.accesswire.com/638036/Snowline-Gold-Significantly-Expands-Cliff-and-Tosh-Land-Positions

News Provided by ACCESSWIRE via QuoteMedia

B2Gold Completes the Sale of Burkina Faso Projects

B2Gold Corp. (TSX: BTO) (NYSE AMERICAN: BTG) (NSX: B2G) (" B2Gold ") is pleased to announce that it has completed the sale of its 81% interest in the Kiaka gold project located in Burkina Faso (the " Kiaka Project ") to West African Resources Limited (ASX:WAF) (" WAF ")(the " Kiaka Transaction "). Pursuant to the terms of the Kiaka Transaction, on closing B2Gold received a cash payment of US$22.5 million (in addition to the US$450,000 already received), 22,190,508 ordinary shares of WAF (" WAF Shares "), and a 2.7% net smelter return (" NSR ") royalty interest on the first 2,500,000 ounces of gold produced at the Kiaka Project and thereafter a 0.45% NSR royalty interest on the next 1,500,000 ounces of gold produced. B2Gold will also receive an additional payment of US$45 million (the " Additional Payment ") payable on the earlier of (i) commencement of construction at the Kiaka Project (provided such date will no earlier than April 25, 2022 ), (ii) completion of a positive feasibility study at the Kiaka Project, and (iii) October 25, 2022 . The Additional Payment will be paid in cash or WAF Shares, at B2Gold's option but subject to any required WAF shareholder approval to issue the WAF Shares.

Concurrently with the closing of the Kiaka Project, B2Gold also completed the sale of its 90% interest in the Toega gold project located in Burkina Faso (the " Toega Project ") to WAF (the " Toega Transaction "). Pursuant to the terms of the Toega Transaction, on closing B2Gold  received a cash payment of $9,000,000 (in addition to the US$9,000,000 already received), and a 2.7% NSR royalty interest on the first 1,500,000 ounces of gold produced at the Toega Project until such time as the royalty payments total US$22,500,000 and thereafter a 0.45% NSR royalty interest.

Keep reading... Show less

World Gold Council Report Underscores Barrick's Leading Role in Sharing the Benefits of Mining

Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) today welcomed the release of the World Gold Council's report highlighting the role of its members in contributing to socio-economic development in the countries and communities in which they operate. According to the report, available at www.gold.org this contribution amounted to almost $38 billion in 38 countries last year, in the form of payments to governments, employees and suppliers.

Barrick's status as an industry leader in socio-economic development was underscored by the comparison between its performance and the industrywide figures reported by the World Gold Council:

Keep reading... Show less
Otso Gold Announces Appointment of Chief Restructuring Officer; Resignation and Appointment of Directors; Resignation of Lionsbridge PTY Ltd and Provides Corporate Update

Otso Gold Announces Appointment of Chief Restructuring Officer; Resignation and Appointment of Directors; Resignation of Lionsbridge PTY Ltd and Provides Corporate Update

Trading Symbol: TSX-V: OTSO

 Otso Gold Corp. (" Otso " or the " Company "), (TSXV: OTSO) is pleased to announce the appointment of Alvarez & Marsal Nordic AB to provide Chief Restructuring Officer (" CRO ") and other services to the Company and to provide the following corporate update to shareholders.

Keep reading... Show less
Volcanic Gold appoints VP Exploration; reports on drill results delay

Volcanic Gold appoints VP Exploration; reports on drill results delay

(TheNewswire)

Volcanic Gold Mines Inc.

2021-11-30 - VG - News Release
Shares issued 45,543,710
VG close - C$0.50, W/C +$8.5 Million

Keep reading... Show less
NV Gold Confirms Potential Extension of Gold Mineralization at Slumber Project

NV Gold Confirms Potential Extension of Gold Mineralization at Slumber Project

NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(Frankfurt:8NV) ("NV Gold" or the "Company") has confirmed the correlation of a "low-resistivity zone" with known alteration and possible gold mineralization at its 100% controlled Slumber Gold Project ("Slumber") located approximately 50 miles northwest of Winnemucca, Humboldt County, Nevada, USA

The Q4-2021 drill program at Slumber has currently completed five RC (reverse circulation) drill holes totaling approximately 900 meters. The goal of this program is the confirmation of a reinterpreted geological model and correlation of alteration and possible gold mineralization with a low resistivity zone identified by last year's CSAMT work (see press release September 7th, 2021). The initial holes appear to confirm this previously untested concept.

Keep reading... Show less
Novo Identifies Ni-Cu Targets at Southcourt, Andover Intrusion, Adjacent to Azure's Andover VC-07 Ni-Cu-Co Discovery

Novo Identifies Ni-Cu Targets at Southcourt, Andover Intrusion, Adjacent to Azure's Andover VC-07 Ni-Cu-Co Discovery

HIGHLIGHTS

  • Novo's extensive greenfields exploration program has recently identified and advanced a series Ni-Cu-Co targets adjacent to Azure Minerals Limited's (" Azure ") (ASX: AZS) Andover VC-07 Ni-Cu-Co massive sulphide discovery (" Andover ") and Artemis Resources Limited's (" Artemis ") (ASX: ARV) Carlow Castle Au-Cu-Co discovery (" Carlow Castle ")
  • Novo's 100%-owned exploration licence 47/1745 contains several airborne electromagnetic (" VTEM ") anomalies (previously defined in 2007 by Legend Mining Limited (" Legend ") (ASX: LEG)) which have not been drill tested, along with large high order soil geochemical anomalies (including Cu, Ni and Co) associated with the VTEM conductors, including the Southcourt and Milburn prospects
  • Novo is now progressing ground electromagnetic (" EM ") geophysical surveys in the near-term to advance these discoveries
  • This work is consistent with Novo's accelerated exploration strategy targeted at growing the Company's portfolio of gold and battery metals prospects in the Pilbara region of Western Australia

Novo Resources Corp. ( "Novo" or the "Company" ) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to advise that it has recently identified and advanced a series of Au-Cu and Ni-Cu-Co targets on EL471745, adjacent to Andover 1 and Carlow Castle 2 in the West Pilbara region of Western Australia, although there is no certainty that EL471745 contains the same levels of mineralization as either of these discoveries.

Keep reading... Show less

Top News

Related News