Snowline Gold Announces Listing on TSX Venture Exchange and Outlines 2023 Rogue Project Field Program

Snowline Gold Announces Listing on TSX Venture Exchange and Outlines 2023 Rogue Project Field Program

  • Snowline has initiated process to list on the TSX-V to offer enhanced value for existing shareholders by raising the company's profile and to provide greater exposure to domestic and global markets
  • C$14.2M exploration program is planned for Rogue in 2023, with the dual objectives of advancing the Valley discovery and making additional drill discoveries on high-priority intrusion-related gold targets
  • Snowline will complete an updated NI 43-101 technical report on its Rogue project in Yukon, Canada within 120 days of listing as part of the listing process
  • This news release contains a summary of material results and work completed since the latest NI 43-101 technical document in December 2020.

Snowline Gold Corp. (CSE:SGD)(OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to announce approval to list on the TSX Venture Exchange (the "TSX-V") following satisfaction of regulatory requirements. The common shares of the Company will be de-listed from the Canadian Securities Exchange at the close on Wednesday, May 3rd and commence trading on the TSX-V under the symbol SGD at the open on Thursday, May 4th. The move is set to improve Company visibility to domestic and international capital markets, providing a means of expanding its investor base and further realising the value of the gold discoveries within Snowline's Yukon Territory property portfolio

"We are looking forward to working with the TSX-V and a broader community of potential investors as our company continues to grow," said Matt Roma, Snowline's CFO. "In addition, we would like to thank the Canadian Securities Exchange for providing a superb foundation for our efficient launch along with the market platform that allowed us to make Snowline what it is today."

As part of the TSX-V listing requirements, Snowline will complete an updated NI 43-101 technical report on its Rogue project in the Yukon, Canada within 120 days of listing. The most recent technical report on the property (Effective date: December 10, 2020) was written prior to the creation of Snowline through a reverse takeover arrangement that secured ownership of Rogue and other Yukon properties. Since commencement of trading on the Canadian Securities Exchange as SGD on March 1, 2021, Snowline has significantly grown and advanced Rogue on the back of a major gold discovery, which will be detailed in the updated technical report. Later in this release, Snowline provides a summary of relevant activities completed to date.

ROGUE PROJECT - 2023 EXPLORATION PLANS AND BUDGET

Snowline is preparing for a 15,000+ metre drill program for the 2023 field season at Rogue. Three drills are currently winterized at Valley zone on the Rogue property. The company plans to initiate drilling near the end of May and to have all three drills turning by early June. Approximately 10,000+ metres will be allocated to a Phase III drill program advancing the geological understanding of Valley and further delineating the at-surface, high-grade (1 g/t Au to > 4 g/t Au) zone encountered in the 2022 drill campaign, while testing, where practical, for potential extensions of the high-grade gold system at depth. Another 2,000+ metres are allocated to a Phase II drill program at Gracie, with the goals of locating the Gracie intrusion and consistent gold mineralization within it. The remaining 3,000+ metres of drilling are allocated to Phase I drill programs at targets Snowline deems to have strong geological merit to host strong zones of mineralization. Reduced-intrusion related gold systems often occur in clusters, and the Company has identified multiple targets of this type in the vicinity of Valley. The drilling amounts above may be subject to refinement based on exploration results as the season progresses.

Regional stream sediment and extensive soil sampling will be initiated in early June to assess targets acquired through property expansions since inception. This early start will provide time during the field season for follow-up and potential Phase I drilling on areas with promising results.

Large-scale and target-scale geophysical programs are also proposed for the 2023 field season, building on Snowline and historical datasets that have proven useful in highlighting alteration, structures and intrusive bodies in exploration at Rogue to date.

Ongoing environmental baseline studies at Valley and on the broader Rogue project will continue and will be complemented by progressive reclamation of work sites.

The planned allocation of funds for the 2023 exploration program at Rogue is as follows:

Snowline Gold Corp., Monday, May 1, 2023, Press release picture

Additional work, including Phase I drilling, is planned on other Snowline projects outside of Rogue during the 2023 season. Details will be outlined in a future release.

WORK COMPLETED AT ROGUE SINCE MOST RECENT NI 43-101 TECHNICAL DOCUMENT

"What we have accomplished as a team in two short field seasons at Rogue is nothing short of remarkable," said Thomas Branson, Snowline's Vice President of Exploration. "Through Snowline's brand of principled, values-driven exploration, we advanced a set of prospecting discoveries and a regional conceptual model to the drill discovery and partial delineation of a significant greenfields gold discovery. We will continue to add to our understanding of Rogue's Valley discovery and the broader Rogue project with the dual goals of expanding on our known discoveries at Rogue and making additional discoveries. As the 2023 field season approaches, we are gearing up for an active and exciting year with at least three drills turning and plenty of boots on the ground."

Staking

  • Significantly increased the physical footprint of our 100%-owned Rogue Project in 2021 and 2022 from 121 claims covering about 2,439 ha to 2,547 claims covering approximately 52,396 ha, a >2,100% increase in project size since Snowline's inception.

2021 Field Season

  • Drilling of four diamond drill holes for 804 m at Valley, resulting in the drill discovery of the Valley reduced intrusion related gold system (RIRGS) with downhole intersections including 1.25 g/t Au over 168.7 m (V-21-003; see Snowline news release dated February 10, 2022) near the edge of a newly recognized, kilometer-scale Fort Knox-style intrusion
  • Application for and receipt of Class 1 and Class 3 Quartz Mining Land Use permits for Rogue and surrounding projects
  • Collection of high-resolution drone magnetic survey data, with a total of 410.9 line-km covering an area of 10.4 km2.over the Valley intrusion which delineated the Valley intrusion and identified crosscutting, northwest-trending structures that may play a role in the distribution of gold mineralization
  • Collection of 1,523 soil samples primarily at the Valley and Gracie zones, with a 5.1 km gold (Au)-in-soil anomaly with coincident bismuth (Bi)-tellurium (Te) anomalism at Gracie (Snowline news release dated April 7, 2022), as well as anomalous Au-Bi-Te geochemistry results from above the Valley intrusion, which helped guide drilling efforts in both 2021 and 2022
  • Geological mapping and collection of 174 rock samples primarily at Valley
  • Collection of Unmanned Aerial Vehicle (UAV) photogrammetry over the Valley, Gracie and Old Cabin areas for geological mapping and desktop studies.

2022 Field Season

  • Drilling of 32 diamond drill holes for 13,320 m, with 11,868 m in 27 holes at Valley and 2,152 m in 5 holes at Gracie
  • Construction of 50-person Forks Camp to support exploration activities on Rogue, Einarson and additional nearby prospects
  • Extension of Forks airstrip to 1,000 m in length following amendment of Class 3 Quartz Mining Land Use Permit
  • Collection of 136 rock samples across the Rogue project
  • Collection of UAV photogrammetry over the Old Cabin and LM targets to provide high resolution (cm-scale) base maps for geological mapping and desktop studies
  • Airborne magnetics and radiometric surveys conducted over Valley-Gracie-LM (809 line km), Old Cabin (769 line km) and Ramsey (738 line km) for a total of 2,316 line km over an area of 208.1 km2 providing insights on the distribution of hornfels alteration caused by intrusive bodies
  • Collection of 357 soil samples
  • Geological mapping at Gracie, LM, Old Cabin and Ramsey zones on the Rogue Property
  • Commencement of environmental survey work at Valley including monthly water quality monitoring, hydrology, pre-disturbance botanical inventories and wildlife surveying, providing a baseline of knowledge for future advanced stage permitting
  • Mineral studies through 51 petrographic sections and selected SEM mineralogical characterization
  • Initiation of metallurgical test work.

Table 1 highlights drill assay results from 36 holes (31 at Valley, 5 at Gracie) completed by Snowline during the 2021 and 2022 field seasons at the Rogue Project, Yukon. Results are considered preliminary, with full updates, including the use of metallic screen analyses (the optimum method when visible gold is present), where analysed, available in the technical report. The results are not expected to materially change. Many of the drill holes targeted and intersected a wide, through-going and deep corridor of sheeted quartz vein Au-Bi-Te mineralization within the Valley intrusion. Unusually high gold grades for an RIRGS were intersected from surface, such as 2.55 g/t Au over 318.8 m including 4.14 g/t Au over 108 m in V-22-010 (see Snowline news release dated October 12, 2022). These intersections exhibit a high degree of gold grade continuity within and between holes.

Snowline Gold Corp., Monday, May 1, 2023, Press release picture
Figure 1 - 2021 and 2022 drilling at the Valley Zone, showing drill hole locations relative to the intrusion and preliminary analytical results. Drilling to date has revealed the presence of a large zone within the broader Valley intrusion with high densities of gold-bearing quartz veins. Initial analytical results for this zone consistently carry unusually high grades for a reduced intrusion-related gold system.

Snowline Gold Corp., Monday, May 1, 2023, Press release picture

Table 1 - Preliminary highlight summary of Snowline's latest assay results. From/To widths are rounded, so Interval widths reported exhibit higher accuracy. *Downhole Interval widths are reported since true widths of the system are not definitively known.

ABOUT ROGUE

Rogue's Valley Zone is a newly discovered, bulk tonnage style, reduced intrusion-related gold system (RIRGS), with geological similarities to multi-million-ounce deposits currently in production like 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. Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays within and along the margins of a one-kilometer-scale, mid-Cretaceous aged Mayo-series intrusion. 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 significant additional work is completed.

The Rogue Project area hosts multiple intrusions similar to Valley along with widespread gold anomalism in stream sediment, soil and rock samples. Elsewhere, RIRGS deposits are known to occur in clusters. The Rogue Project is thus considered by the Company to have district-scale potential for additional reduced intrusion-related gold systems.

Snowline Gold Corp., Monday, May 1, 2023, Press release picture
Figure 2 - Project location map for Snowline Gold's eastern Selwyn Basin properties. To date, Snowline has only drilled three targets out of more than 30 identified by the Company across its district-scale exploration portfolio.

ABOUT Snowline Gold Corp.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering >280,000 ha. The Company is exploring its flagship >137,000 ha Rogue and Einarson 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. The Company's first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

QUALIFIED PERSON

The technical information in this news release has been reviewed by Jean Pautler, P.Geo., a qualified person as defined by National Instrument 43-101.

ON BEHALF OF THE BOARD

Scott Berdahl
CEO & Director

For further information, please contact:

Snowline Gold Corp.
+1 778 650 5485
info@snowlinegold.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements about the expected date on which the Company's common shares will be listed on the TSX-V, the Company's past results 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/752262/Snowline-Gold-Announces-Listing-on-TSX-Venture-Exchange-and-Outlines-2023-Rogue-Project-Field-Program

News Provided by ACCESSWIRE via QuoteMedia

SGD:CNX
The Conversation (0)
Snowline Gold Completes C$19.2 Million Financing and Strategic Investment by B2Gold

Snowline Gold Completes C$19.2 Million Financing and Strategic Investment by B2Gold

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Snowline Gold Corp. (CSE:SGD) (the "Company" or "Snowline") is pleased to announce that it has completed its non-brokered private placement of 3,941,048 flow-through common shares of the Company (the "FT Shares") at a price of C$4.862 per FT Share for aggregate gross proceeds of C$19,161,375.38 (the "Offering") and strategic investment by B2Gold Corp. (TSX:BTO) ("B2Gold") announced on March 14, 2023

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Snowline Gold Announces Strategic Investment by B2Gold Through Non-Brokered Private Placement

Snowline Gold Announces Strategic Investment by B2Gold Through Non-Brokered Private Placement

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Snowline Gold Corp. (CSE:SGD) (the "Company" or "Snowline") is pleased to announce that B2Gold Corp. (TSX:BTO, NYSE American: BTG, NSX: B2G) ("B2Gold") has agreed to complete a strategic investment into the Company. B2Gold will be the purchaser of common shares of the Company on the back end of an initial non-brokered flow-through private placement arranged by Snowline. Pursuant to the initial non-brokered private placement, up to 3,941,048 flow-through common shares of the Company (the "FT Shares") will be issued at a price of C$4.862 per FT Share for aggregate gross proceeds to the Company of up to C$19,161,375 (the "Offering

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Snowline Gold Intersects 161.0 M of 1.1 Grams Per Tonne Gold at its Valley Discovery and Confirms a Second Reduced Intrusion-Related Gold System at its Rogue Project, Yukon

Snowline Gold Intersects 161.0 M of 1.1 Grams Per Tonne Gold at its Valley Discovery and Confirms a Second Reduced Intrusion-Related Gold System at its Rogue Project, Yukon

  • Hole V-22-030 returned 1.06 g/t Au over 161.0 m within broader 282.5 m mineralized interval averaging 0.73 g/t Au, adding width to southeast extension of near-surface, well mineralized corridor at Valley
  • Hole ends in mineralization, with final 66.0 m of hole averaging 1.46 g/t Au and final 21.0 m averaging 1.93 g/t Au
  • Localized gold intersections at Gracie target (4 km east of Valley) confirm a second reduced-intrusion gold system to be targeted in phase 2 drilling in 2023.

Snowline Gold Corp. (CSE:SGD)(OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to announce additional preliminary assay results from its 2022 drilling programs at its Rogue Project in Canada's Yukon Territory. Hole V-22-030, drilled on the southeastern margin of Valley's central mineralized zone, returned 1.06 gt Au over 161.0 m before ending in strong mineralization (Tables 1 and 2). The result adds scale and tonnage to the southeastern side of this near-surface, well mineralized zone. In addition, results from phase 1 drilling at the Gracie confirm the existence of a second reduced intrusion-related gold system, with a high correlation between gold, bismuth and tellurium values in sheeted quartz veins. Phase 1 results will be used to guide a targeted phase 2 drill program at Gracie in 2023

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Snowline Gold Further Strengthens Technical Team with Appointment of Vice President of Exploration

Snowline Gold Further Strengthens Technical Team with Appointment of Vice President of Exploration

Snowline Gold Corp. (CSE:SGD) (OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to announce the appointment of Thomas Branson, M.Sc., P.Geo., to the role of Vice President of Exploration. Mr. Branson served as Snowline's Exploration Manager in 2022, playing a key role on Snowline's team during a transformative year for the Company that included initial delineation of the large, near-surface, and unusually high-grade bulk tonnage Valley gold discovery on Snowline's Rogue Project in Canada's Yukon Territory

Prior to joining Snowline, Mr. Branson spent 15 years as an exploration geologist, gaining extensive experience in the Yukon and British Columbia, from greenfields exploration through to feasibility studies. He has been involved with organization and management of over 190,000 cumulative metres of exploration and resource drilling on programs in the Wernecke Mountains and Wolverine mine in Yukon, Mount Milligan, Kemess and Scottie Gold mines in BC and elsewhere. His role with Snowline bridges operational and technical aspects of exploration, discovery, team building and project advancement. Mr. Branson earned a B.Sc. in Earth and Ocean Science from the University of British Columbia and an M.Sc. in Exploration Geology from Rhodes University in South Africa. He is a licensed Professional Geologist with Engineers and Geoscientists British Columbia.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Snowline Gold Intersects 558.7 m of 1.3 grams per tonne Gold from Surface Including 202.0 m of 2.0 grams per tonne Gold at Its Valley Discovery, Rogue Project, Yukon

Snowline Gold Intersects 558.7 m of 1.3 grams per tonne Gold from Surface Including 202.0 m of 2.0 grams per tonne Gold at Its Valley Discovery, Rogue Project, Yukon

  • Hole V-22-029 returned 1.26 g/t Au over 558.7 m from surface, including 2.04 g/t Au over 202.0 m in 207 m step-back from previous highlight hole V-22-010
  • Longest mineralized intersection to date at Valley, expands width of central high-grade zone significantly to the north and demonstrates strong continuity to depth
  • Assays still pending for 3 holes drilled at Rogue in 2022, along with surface results from various targets and properties in Snowline's portfolio.

Snowline Gold Corp. (CSE:SGD)(OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to announce additional preliminary assay results from its 2022 drilling programs at its Rogue Project in Canada's Yukon Territory. Hole V-22-029 intersected sheeted quartz vein mineralization within the Valley intrusion averaging 1.26 gt Au over 558.7 m from surface, including 2.04 gt Au over 202.0 m, with additional mineralization at depth (Tables 1 and 2). The hole was collared at a 207 m step-back perpendicular to strike from V-22-010 (318.8 m @ 2.55 gt Au from surface) to test the local width of Valley's near-surface, well mineralized corridor and the continuity of mineralization to depth

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Riverside Resources Expands British Columbia Rare Earth Elements Property Portfolio with Taft Project Acquisition

Riverside Resources Expands British Columbia Rare Earth Elements Property Portfolio with Taft Project Acquisition

Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) ("Riverside" or the "Company"), is pleased to announce it has signed an option agreement to acquire a 100% interest in the Taft Project ("Project"). The Project covers a total area of 3,000 hectares (30 km2) and is located in the highly prospective Revelstoke Carbonatite Belt region of British Columbia for Rare Earth Elements (REE) and gold mineralization. This transaction aligns with Riverside's strategy of targeting high-value mineral assets in favorable jurisdictions and taking advantage of government support led by technical quality as a focus. Critical metals, such as rare earth elements (REE), are essential for national security and economic prosperity and Riverside is actively strengthening its position by acquiring and staking high-potential critical metals projects. The Company plans to begin a field program on the Project immediately.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
AUE receives firm commitments for A$10 million placement

AUE receives firm commitments for A$10 million placement

Aurum Resources (AUE:AU) has announced AUE receives firm commitments for A$10 million placement

Download the PDF here.

Lode Gold Receives Tsxv Conditional Acceptance for Spinout Transaction and Sets a Shareholder Meeting Date to Approve Plan of Arrangement

Lode Gold Receives Tsxv Conditional Acceptance for Spinout Transaction and Sets a Shareholder Meeting Date to Approve Plan of Arrangement

Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) ("Lode Gold " or the "Company") is pleased to announce that it has received conditional acceptance from the TSXV for the spinout transaction. The record date is set for January 20, 2025. An information circular will be mailed to Shareholders on or before January 24, 2025, calling for a meeting on March 10, 2025, to approve the plan of arrangement for a tax-efficient spinout. On the completion of the transaction and following final court approval, Lode Gold shareholders will receive shares of Gold Orogen.

Upon completion of the spin-off, the Company will be structured as follows:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×