Precious Metals

  • Sheeted quartz veins with trace amounts of visible gold present in hole V-22-005
  • Location of hole expands known width of Valley mineralized corridor by 150 metres
  • Drilling ongoing, with assay results and full drill core evaluation pending.

Snowline Gold Corp. (CSE:SGD)(OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to report that it has intersected mineralization from bedrock surface in its first hole of 2022, drilled at the Rogue project's Valley Zone in Canada's Yukon Territory. V-22-005 encountered thin (1-60 mm) sheeted quartz veins through to at least its present depth of 233 metres (as of Sunday, June 12, 2022; drilling ongoing at time of writing). Seven separate veins hosting trace visible gold were observed between 39 and 220 metres downhole during initial logging. The collar location is a 154-metre step-back from 2021 hole V-21-003 which also encountered a broad zone of mineralization from the bedrock surface

Snowline Gold Corp., Monday, June 13, 2022, Press release picture

Figure 1 - Closeup of V-22-005 drill core at 197 m downhole. Seven grains of visible gold (red circles) were identified along the margins of a single quartz vein here during initial evaluation of the drill core. Visible gold has also been identified in six other veins throughout the hole. Note that this figure highlights one feature of V-22-005 and is not meant to be representative of the entire hole. Assays for this and the rest of the hole remain pending. Core shown is 4.76 cm in diameter.

"Hole V-22-005 was designed to get a better sense of the width of the sheeted quartz vein arrays that constitute the Valley Zone," said Scott Berdahl, CEO and Director of Snowline. "That we encountered mineralization at surface is encouraging, as this expands the known surface width of the Valley Zone by roughly 150 metres, and the width remains open. The true significance of the mineralization awaits assay results, but we are pleased to see this initial demonstration of scale. Subsequent holes will begin to test the strike length and depth of the mineralized system."

Snowline Gold Corp., Monday, June 13, 2022, Press release picture

Figure 2 - V-22-005 drill core from 200.9 to 227.5 m downhole. Sheeted quartz vein densities of between 10 and 20 veins per metre occur from 205 to 227 m downhole, within a coarse-grained biotite-hornblende diorite intrusion. Quartz vein densities are generally between 3 to 5 veins per metre throughout the length of the hole to its present depth of 233 m. Trace visible gold was identified in quartz at 211 m. Note that the image above is a composite from two photos, with a perspective warp applied to give a consistent top-down view. Assays for this zone are pending, and detailed logging of this section has yet to be completed.

Mineralization in V-22-005 comprises thin (average 3-5 mm) subparallel quartz veins with minor sulphide minerals cutting coarse-grained diorite of the Valley intrusion. Occasional thicker (up to 6 cm) quartz veins with minor sulphides have also been intersected. Small (sub millimeter) grains of visible gold were identified at around 39 m, 63 m, 88 m, 126 m, 197 m, 211 m and 220 m depth during initial evaluation of the drill core. Gold grains are associated with minor bismuthinite and/or telluride grains within the thin quartz veins. Vein densities average 3 to 5 per metre throughout the hole so far, with localized zones averaging up to 20 veins per metre.

Snowline Gold Corp., Monday, June 13, 2022, Press release picture

Figure 3 - Schematic cross section showing relationship of V-22-005 to previous drilling. Instances of sub millimetre visible gold identified in initial evaluation of the drill core are denoted by yellow stars. Visible gold has now been observed in all 5 of 5 total holes drilled at Valley. Note that holes V-21-001 and V-21-002 are collared behind the section and are coming out of the page towards the viewer. The surface trace of the section is shown in Figure 4.

Assays for V-22-005 are pending, and drilling of the hole is ongoing at the time of writing. While the Company finds these visual results to be encouraging, it cautions that the significance of the observations reported herein will not be known until assays are received and reviewed. Valley is an early-stage exploration project without a resource estimate, and the presence or absence of an economically viable orebody cannot be determined until significant additional work is completed.

Drillhole ID

Coordinates (NAD83 Zn9)

Orientation (True)

EastingNorthing

Azimuth

Dip

Planned Depth

V-21-005

386053

7057926

220

-60

300 m

Table 1 - Location and orientation of V-22-005, currently underway at Valley. Project staff may change the planned depth depending on results and other factors.

Snowline Gold Corp., Monday, June 13, 2022, Press release picture

Figure 4 - Location of V-22-005, Snowline's first drill hole of the 2022 exploration season, currently underway at Valley. The hole is a 154 m step back from V-21-003, which intersected 1.25 g/t Au over 168.7 m from surface. The white line from the collar location indicates current progress of the drill hole, which will be extended past its 300 m target depth if mineralization continues. A thin dark blue line denotes the section location portrayed in Figure 3.

ABOUT ROGUE

The geological setting and style of mineralization at Rogue's Valley Zone 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 drilled (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 the margins of a mid-Cretaceous aged Mayo-series intrusion.

Valley is one of at least five bulk-tonnage gold targets present on Snowline's Rogue project. The Gracie target, roughly 4 km to the east, covers a 5.1 km gold in soil and talus fine anomaly above an unexposed felsic intrusion (see Snowline news release dated April 7, 2022). Mineralization is thought to be similar to that at Valley. Following surface work to optimize drill targeting and assuming viable targets are identified, Phase I drilling will commence at Gracie in mid-season 2022.

Snowline Gold Corp., Monday, June 13, 2022, Press release picture

Figure 5 - Location of V-22-005 in the context of the broader Valley-Gracie trend. Surface geochemistry and geophysics (Z-axis Tipper Electromagnetic Survey) data suggest the presence of a potentially similar reduced intrusion related gold system at Gracie. Snowline intends to drill 3,000 m or more at Valley in 2022, and to drill the first-ever holes into the Gracie target following further surface review and targeting.

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. 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.

Snowline Gold Corp., Monday, June 13, 2022, Press release picture

Figure 6 - Project location map for Snowline Gold's eastern Selwyn Basin properties. The Valley Zone on the Rogue project is the site of V-22-005, which is actively being drilled.

QUALIFIED PERSON

Information in this release has been prepared under supervision of and approved by Thomas K. Branson, M.Sc., P. Geo., Exploration Manager for Snowline and a Qualified Person for the purposes of 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 Company's upcoming drill program, implied significance of visual inspection of drill core, 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.



View source version on accesswire.com:
https://www.accesswire.com/704853/Snowline-Gold-Provides-Exploration-Update-on-Its-Valley-Drill-Program-Rogue-Project-Yukon

News Provided by ACCESSWIRE via QuoteMedia

SGD:CNX
snowline

Snowline Gold


Keep reading...Show less
Snowline Gold Announces Completion of Second Tranche of Non-Brokered Private Placement for C$2.9 Million

Snowline Gold Announces Completion of Second Tranche of Non-Brokered Private Placement for C$2.9 Million

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 the second tranche of its previously announced (July 5, 2022) non-brokered private placement, issuing 2,342,293 units of the Company (the "Units") at a price of C$1.25 per Unit, for aggregate gross proceeds of C$2,927,866. Each Unit is comprised of one common share of the Company and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"), with each Warrant being exercisable for one common share of the Company at an exercise price of C$2.50 until August 2, 2024 (the "Offering

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Snowline Gold Announces Agreement With Nacho Nyak Dun Development Corporation To Power Main Camp With Large-Scale Solar Generator

Snowline Gold Announces Agreement With Nacho Nyak Dun Development Corporation To Power Main Camp With Large-Scale Solar Generator

  • 27 kW solar generator installed at Snowline's camp is expected to provide the vast majority of in-camp electrical power
  • Fuel savings estimates are as high as 12,527 litres, translating to a 90% reduction in carbon emissions for camp power production based on 2021 camp data
  • Strong collaborative relationship with Nacho Nyak Dun Development Corporation continues to provide direct economic impacts to the First Nations and to the Yukon

Snowline Gold Corp. (CSE:SGD)(OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to announce it has entered into a 5-year lease agreement with the Nacho Nyak Dun Development Corporation (NNDDC) for installation and use of a 27 kilowatt solar generator system. Designed and built by Yukon-based Solvest Inc., the solar generator will dramatically reduce diesel consumption at Snowline's 45-person "Forks" camp on its Rogue Project in the eastern Yukon, located within the Traditional Territory of the First Nation of Na-Cho Nyak Dun (FNNND

Snowline Gold Corp., Monday, August 1, 2022, Press release picture
Figure 1 - Solar panels in position at Snowline's newly built Forks Camp. Designed by Solvest Inc. the hybrid-solar generator system is among the first of its kind to be used to power a remote exploration camp in Canada.

Estimates provided by Solvest based on data collected from Snowline's 2021 field program predict the new solar generator could save up to 12,572 litres of diesel per season, reducing carbon dioxide emissions from the camp generator by 90%. This reduces not only fuel costs, but also the total number of flights required to support the project, resulting in a net positive impact both financially and environmentally. Additional benefits include the associated reduction in diesel generator operating time, which lessens camp noise to create better living standards for crew, while also lowering the potential for disturbance of local wildlife.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Snowline Gold Announces Completion of First Tranche of Non-Brokered Private Placement for C$22.3 Million and Grants Stock Options

Snowline Gold Announces Completion of First Tranche of Non-Brokered Private Placement for C$22.3 Million and Grants Stock Options

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 the first tranche of its previously announced non-brokered private placement, issuing 7 million flow-through common shares of the Company (the "FT Shares") at a price of C$1.40 per FT Share and 10 million units of the Company (the "Units") at a price of C$1.25 per Unit, for aggregate gross proceeds of C$22.3 million. Each Unit is comprised of one common share of the Company and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"), with each Warrant being exercisable for one common share of the Company at an exercise price of C$2.50 until July 22, 2024 (the "Offering

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Snowline Gold Announces Non-Brokered Private Placement for Gross Proceeds of C$25.23 Million

Snowline Gold Announces Non-Brokered Private Placement for Gross Proceeds of C$25.23 Million

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

Snowline Gold Corp. (CSE:SGD) (US OTC:SNWGF) (the "Company" or "Snowline") is pleased to announce that it has arranged to issue, on a non-brokered private placement basis, (a) up to 7,000,000 flow-through common shares of the Company (the "FT Shares") at a price of C$1.40 per FT Share for gross proceeds of up to C$9,800,000 and (b) up to 12,342,293 units of the Company (the "Units") at a price of C$1.25 per Unit for gross proceeds of up to C$15,427,866.25. Each Unit is comprised of one common share of the Company and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"), with each Warrant being exercisable for one common share of the Company at an exercise price of C$2.50 for a period of two years(the "Offering

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
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."

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Virtual Public Venture Company Investor Conference: Presentations Now Available for On-Demand Viewing

Virtual Public Venture Company Investor Conference: Presentations Now Available for On-Demand Viewing

Virtual Investor Conferences, the leading proprietary investor conference series, today announced that the presentations from the August OTCQB Venture Virtual Investor Conference are now available for on-demand viewing.

REGISTER NOW OR LOGIN AT: https://bit.ly/3zyrFyM

The company presentations will be available 24/7 for 90 days. Investors, advisors, and analysts may download investor materials from the company's resource section.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Alexco Announces the Filing of Management Information Circular in Connection with Special Meeting to Approve Acquisition by Hecla

Alexco Announces the Filing of Management Information Circular in Connection with Special Meeting to Approve Acquisition by Hecla

For any questions, please contact Alexco Resource's proxy solicitation agent and communications advisor, Laurel Hill Advisory Group, toll free at 1-877-452-7184 (1-416-304-0211 outside North America ) or email assistance@laurelhill.com .

Alexco Resource Corp. (NYSE American: AXU) (TSX: AXU) ("Alexco" or the "Company") announced today that it has filed and mailed the management information circular dated July 28, 2022 (the " Circular ") and related meeting materials (collectively, the " Meeting Materials ") for its special meeting (the " Meeting ") of shareholders (the " Shareholders "), optionholders, restricted share unit holders, and deferred share unit holders of Alexco (collectively, the " Securityholders ") to be held on August 30, 2022 at 10:00 am (Pacific Time) (the " Meeting ") in connection with the proposed business combination with Hecla Mining Company ( NYSE: HL ) (" Hecla "), announced on July 5, 2022 .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Puma Exploration Announces Date for Annual and Special Meeting of Shareholders

Puma Exploration Announces Date for Annual and Special Meeting of Shareholders

Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the " Company " or " Puma ") announces that its 2022 Annual and Special Meeting of Shareholders (the "Meeting") will be held on Tuesday, August 30, 2022, at 2 pm (EDT).

Again, this year, the Company will hold the Meeting via a live webcast at https://virtual-meetings.tsxtrust.com/1391 , where all Shareholders and their proxy holders, regardless of geographic location, will have an equal opportunity to participate. Shareholders and proxy holders will not be able to attend the Meeting in person. Further details and instructions about virtual participation are included in the Meeting materials available on the Company's website and under Puma's profile on www.SEDAR.com .

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Snowline Gold Further Expands Mineralized Footprint of Valley Zone and Mobilizes Third Drill to Its Rogue Project, Yukon

Snowline Gold Further Expands Mineralized Footprint of Valley Zone and Mobilizes Third Drill to Its Rogue Project, Yukon

  • Sheeted vein mineralization observed across 700 m by 800 m area at Valley, with mineralization open in all directions and wider step-outs planned
  • Central corridor of high vein density up to 300 m wide, 600 m long (open) and 430 m deep (open) encountered in holes V-22-005, 007, 010, 012, 014 and 015
  • V-22-015 in system for entire 554 m length, with broad zones of high vein density
  • All assay results and latest drill core evaluations pending, drilling ongoing.

SNOWLINE GOLD CORP. (CSE:SGD) (OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to announce that it has encountered gold bearing quartz vein mineralization in multiple large step-out holes at its Rogue project's Valley Zone in Canada's Yukon Territory (Figure 1). Characteristic sheeted veins are present at various intensities across the roughly 800 m width of the intrusion and extending into the surrounding hornfelsed rocks, and along 700 m of strike length tested to date. Of note is a corridor of high vein densities (commonly >15 veinsm) up to 300 m wide intersected across 600 m of strike length and open along strike, with robust mineralization intersected at 430 m below surface and open to further depth

Snowline Gold Corp., Wednesday, August 3, 2022, Press release picture

Figure 1 - Drilling progress at the Valley Zone, showing quartz vein densities in drill core. Veins range in thickness from several mm to 30 cm true width. Vein densities are considered by the Company a general indicator of gold potential, though other factors can influence grade within and between holes. Assays remain pending for all holes drilled in 2022. A potential southeastern extension of the Valley intrusion is suspected based on aerial magnetic data collected in 2021 and 2022.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
GCM Mining Announces Second Quarter 2022 Results Webcast

GCM Mining Announces Second Quarter 2022 Results Webcast

GCM Mining Corp. ("GCM Mining" or the "Company") (TSX: GCM, OTCQX: TPRFF) announced today that it will release its second quarter and first half 2022 results after market close on Thursday, August 11, 2022 and will host a conference call and webcast on Friday, August 12, 2022 at 9:00 a.m. Eastern Time to discuss the results.

Webcast and call-in details are as follows:

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Falcon Corporate Update - Annual General Meeting, Spin-Out

Falcon Corporate Update - Annual General Meeting, Spin-Out

Falcon Gold Corp. (FG:TSX-V), (3FA:GR), (FGLDF:OTCQB); ("Falcon" or the "Company") provides corporate update letter to shareholders in an address from its Chief Executive Officer, Karim Rayani. The Company further reports its AGM is approaching and will be held on August 10th, 2022. Please visit www.sedar.com for further details

Falcon is well positioned for a remarkably busy summer; Falcon has had a successful year in acquiring projects of merit. My focus is and always has been on creating value for shareholders, I am pleased with the progress we have made in a very challenging market environment. Falcon has acquired and currently holds over 140,000 hectares of ground in Central Newfoundland tied on to Major Structures. Putting us in the top 8% for land holders. Most of our assets in Central Newfoundland we control 100% with no property payments or Net Smelter Royalties. This makes us uniquely positioned for greater success as new discoveries are potentially made.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×