- Our initial drill program has intersected mineralization in 15 of 15 holes drilled across 930 metres within a 3 kilometre soil anomaly
- Partial assay results received for 5 holes, include:
- J-21-006: 3.96 g/t gold over 7.05 metre interval from 41.2 metres downhole
- J-21-007: 4.10 g/t gold over 4.00 metre interval from 9.00 metres downhole
- Subsequent holes J-21-008, 009, 010 and 011 have intercepted broader zones of arsenopyrite mineralization and quartz veining, with additional assays pending
Vancouver, B.C., July 27, 2021 SNOWLINE GOLD CORP. (CSE: SGD) (US OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce it has intersected 7.05 metres at 3.96 g/t Au, including 0.7 metres at 10.65 g/t Au, and 4.00 metres at 4.10 g/t Au, including 0.5 metres at 17.95 g/t Au in initial drill program at the Jupiter Zone on its Einarson project in the Yukon Territory, Canada. Assays from hole J-21-006 & 007 confirm the presence of near-surface gold mineralization along a covered, regional scale structure. The Company has intersected mineralization associated with this structure in all 15 holes drilled to date. Step-out drill holes up to 930 metres along the trend continue to hit mineralization, with even wider mineralized intervals than those reported here for J-21-006 & 007 (Figure 1). Assay results are pending.
“This blind discovery at the Jupiter Zone in our first-ever drill campaign is a remarkable achievement for the Snowline geology team”, said Nikolas Matysek, Director and CEO. “We have consistently intersected mineralization in all 15 holes drilled to date and these initial assay results are a strong indication of the high-grade gold potential at Jupiter. The programme will now focus on extending the yet unknown limits of this structure with immediate follow up drilling.”
In hole J-21-006, a significant mineralized zone was intercepted between 41.2 – 48.3 metres within a 15-metre highly deformed and fractured fault zone (Figure 2). This zone is characterized by disseminated to locally massive arsenopyrite & pyrite within siltstone overlying a mineralized faulted vein. Holes J-21-005 and J-21-008 were drilled from the same pad, with assay results pending (Table 1).
A 710 metre along-strike step-out to the south for holes J-21-010, 011, 012 and 013 brings the total tested strike length to 930 metres and demonstrates the potential scale of the mineralized system at Jupiter (Figures 1, 3 & 4). Holes J-21-010 and J-21-011 encountered localized zones of disseminated and vein-hosted arsenopyrite mineralization along 121.2 metres and 133.9 metres of core length, respectively. Hole J-21-013 was drilled from the same pad but oriented away from the main target area at 090 azimuth degrees, and nonetheless also encountered zones of arsenopyrite mineralization thought to be associated with gold. True widths and the relationships of these broader intervals to any potential mineralized body or bodies is not yet known, nor is the continuity of the mineral system between northern holes and the southern drilling step-out. The Company believes these results to be highly encouraging evidence of a large, robust mineralizing system, but it cautions that their true significance awaits assay results.
B) Above quartz-carbonate vein material in context of proceeding mineralized interval. View shows 41.54 m to 48.30 m core depth in hole J-21-006. Assay samples from 41.20 m to 48.25 m returned a weighted average of 3.96 g/t Au, ranging from 1.24 g/t over 1.05 m to 10.65 g/t over 0.7 m. Note the varying core angles to bedding and structures, making a precise estimate of true width difficult until more is known about the mineralizing system, its controls and its geometry.
The Jupiter property is thought to host a shallow epizonal orogenic gold system. It is one of eight target zones prospective for orogenic and/or Carlin-style gold mineralization currently recognized on Snowline Gold’s 70%-owned Einarson project.
Qualified Person
Information in this release has been reviewed and approved by Scott Berdahl, P. Geo., Chief Operating Officer of Snowline and a Qualified Person for the purposes of National Instrument 43-101. The Einarson property is an early-stage exploration prospects that do not presently contain any mineral resources as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD
Nikolas Matysek, B.Sc. (Geol)
CEO & Director
For further information, please contact:
Snowline Gold Corp.
+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.