Snowline Gold Commences 8,000 Metre Drill Program on Its Flagship Yukon Projects

Snowline Gold Commences 8,000 Metre Drill Program on Its Flagship Yukon Projects

  • Phase II drilling underway at Valley, a bulk tonnage gold discovery made in late 2021
  • Upwards of 8,000 metres drilling planned across at least four targets in 2022
  • Potential for significant new drill discoveries along with expansion of Snowline's Valley and Jupiter zones

Snowline Gold Corp. (CSE:SGD)(OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to announce that it has commenced its 2022 exploration and drilling program. Drill crews and geological staff recently mobilized to the Company's new Forks Camp, built to support its Rogue, Einarson, Ursa and Cynthia projects. Phase II diamond drilling is underway at Rogue's Valley zone to test the extent of gold mineralization encountered by drilling in September 2021 within a soil and talus fine anomaly spanning roughly two kilometers

Snowline Gold Corp., Tuesday, June 7, 2022, Press release picture
Figure 1 - Location of V-22-005, Snowline's first drill hole of the 2022 exploration season, currently underway at Valley. The hole is a 150m step back from V-21-003, which intersected 1.25 g/t Au over 168.7 m from surface. The step back will provide a better measure of the width of the mineralization and constrain the broader orientation of the zone, in addition to testing the mineralization encountered in V-21-003 at depth.

"Following an exceptional first season with two drill discoveries on our adjacent Rogue and Einarson projects, we are very excited to return to the field," said Scott Berdahl, CEO and Director of Snowline. "Our team has already done a tremendous job setting up for an early season start amidst our new camp build and a record-breaking spring snowpack. Snowline's 2022 drill program gives our shareholders much to look forward to as we simultaneously build on recent successes and position ourselves to make additional discoveries. Our results will shed new light on our large and relatively unexplored land package, which we believe has the potential to become a new North American gold district."

The geological setting and style of mineralization at Valley demonstrate the presence of a bulk tonnage gold target, with similarities to Kinross's Fort Knox Mine in Alaska and Victoria Gold's Eagle Mine in the Yukon. An 800 m Phase I drill program conducted at Valley in September 2021 encountered broad zones of gold mineralization in all four holes (e.g. see Snowline news release dated February 10, 2022). Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays along margins of a mid-Cretaceous aged Mayo-series intrusion.

2022 DRILL CAMPAIGN

Snowline's 2022 drill program budgets for at least 8,000 m total drilling across four or more zones.

At Rogue, some 3,000 m are planned for drilling on and around the Valley intrusion, which includes the Valley and Ridge zones. Expected hole depths range between 200 m and 300 m, with one or more deeper holes planned to determine continuity and intensity of mineralization at depth. The drill program will test the scale of the Valley gold system, with a systematic series of step-outs set to better define the width, breadth and depth of mineralization responsible for the geochemical anomalies on surface.

At Einarson, some 3,000 m are budgeted for the Jupiter zone, a high-grade epizonal orogenic gold prospect discovered by drilling in 2021 (e.g. see Snowline news release dated October 13, 2021). Precise drill targeting will await the results of early-season surface work. The program will further test the scale of the Jupiter gold system with broad step-outs, while more concentrated drilling near last season's drill discoveries will better define geometries and controls on mineralization while providing a more rigorous testing of known high-grade zones.

The balance of 2,000 m or more is budgeted for first-ever drill testing of additional targets. At Rogue's Gracie zone, a 5.1 km gold in soil and talus fine anomaly above a buried felsic intrusion represents a high-priority bulk tonnage drill target (see Snowline news release dated April 7, 2022). Mineralization is thought to be related to that at Valley. Following surface work to optimize drill targeting and assuming viable targets are identified, Phase I drilling will commence at Gracie.

Other candidate zones for Phase I drilling in summer 2022 include:

  • Avalanche Creek (Einarson): A one-kilometer-long mineralized quartz carbonate boulder train similar in character to Jupiter, some 12 km away. Grab samples of Avalanche Creek float material assay from 0.3 g/t Au to 34.2 g/t Au, and a likely source structure for the mineralization has been identified.
  • Mars (Einarson): A four-kilometer-long gold in soil and talus fine anomaly in historical data with values of up to 8.97 g/t Au in talus fines. Rock samples from the trend range from below detection to 9.27 g/t Au, including a historical hand trench that returned 7.1 g/t Au over 5.0 m. Limited historical drilling tested the far south end of the trend, near the hand trench location, with reported intercepts of up to 0.57 g/t Au over 21.2 m (true width unknown). The majority of the Mars anomaly, including its strongest soil geochemistry, has not been drill tested.
  • Ursa: A fourteen-kilometer-long trend of anomalous zinc in stream sediments with values consistently over 0.1% Zn and up to 3.4% Zn. An aerial VTEM survey conducted by Snowline in 2021 revealed several large conductors that may be lithological or that may be indicators of mineralization.

The proportion and total amount of drilling planned for each zone are rough working guides and may change based on drill results and other observations or factors throughout the season.

Snowline Gold Corp., Tuesday, June 7, 2022, Press release picture
Figure 2 - Project location map for Snowline Gold's eastern Selwyn Basin properties. Key zones described in this release are labeled with blue text.

QUALIFIED PERSON

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 >127,000 ha. The Company is exploring its flagship >85,000 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

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 Company's upcoming drill program and surface work 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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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

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(TheNewswire)

Prismo Metals Inc.

Investing News Network( INN)

During the Prospectors & Developers Association of Canada (PDAC) convention, the Investing News Network (INN), a premier source for resource and mining news and investor education, filmed interviews with experts and CEOs of leading companies. In a recent CEO Interview published on InvestingNews.com, Mari-Len DeGuzman interviewed Alain Lambert, the Executive Chairman of Prismo Metals (CSE:PRIZ) at PDAC. Lambert discussed updates and strategic plans for the company's silver, copper, and gold projects, including the latest on their collaboration with Vizsla Silver and forthcoming exploration efforts.

Strategic Collaboration and Exploration at Palos Verdes

Lambert reminded viewers that Palos Verdes, a silver prospect in Mexico, stands as one of Prismo Metals' flagship properties. Surrounded by Vizsla Silver Corp. (TSXV:VZLA) territory, which encompasses the remainder of the district, Prismo benefits from a strategic relationship with Vizsla. Following a recent $34 million bought deal closure by Vizsla, Lambert highlighted their ongoing collaboration, which includes a technical committee aimed at exploring the district's northeast.

With three successful drilling campaigns under their belt, Prismo Metals is preparing for a robust exploration program into Palos Verdes. Lambert expressed excitement about the upcoming fourth drilling campaign, which will extend into Vizsla's already permitted property, promising further insights into the prospect's potential.

Los Pavitos and Hot Breccia: Expanding Exploration Horizons

In addition to Palos Verdes, Prismo Metals is making waves with their Los Pavitos gold prospect, spanning over 5,300 hectares in the Sonora State, Mexico. The first drilling campaign in 2023 yielded exceptional results, extending the prospective zone significantly. Plans for geophysics and further drilling later this year are in place to capitalize on these findings.

Moreover, Lambert shed light on the Hot Breccia copper project in Arizona, poised to capture investors' attention. Awaiting drilling permits, Prismo anticipates initiating exploration on this property, situated in the heart of Arizona's copper belt. With historical data backing its potential, the focus will soon shift to twinning old holes, exploring the vast copper resources.

Investment Appeal and Future Focus

Addressing investors at PDAC, Lambert confidently positioned Prismo Metals as a compelling investment opportunity, drawing parallels with recent successes in the space, such as Hercules Silver Corp. (TSXV:BIG). With high expectations for the Hot Breccia project and continued exploration at Palos Verdes and Los Pavitos, Prismo Metals is dedicating substantial resources to uncover the next significant discovery.

As Prismo Metals gears up for a year filled with promising exploration activities and strategic collaborations, Lambert's message to investors is clear: keep a close eye on Prismo Metals. With a strong exploration strategy and potential for significant discoveries, Prismo Metals represents an intriguing opportunity in the mining sector.

For more insights on Primso Metals check INN's exclusive profile of the company:

https://investingnews.com/stocks/cse-priz/prismo-metals/

For complete coverage of The Prospectors & Developers Association of Canada (PDAC) 2024 visit: https://investingnews.com/pdac/

About the Investing News Network:

The Investing News Network (INN) is a leading source of independent news and educational content for investors. Since 2007, INN has been providing breaking news, analysis and expert commentary on the latest developments in the resources and mining, tech, and life science sectors. With a global network of reporters and analysts, INN is committed to providing accurate, timely and actionable information to investors.

For more information, please visit the Investing News Network website at InvestingNews.com .

Contact:

Chris Smith

CSO

Investing News Network

+1 (604) 688-8231

csmith@investingnews.com

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