- Rushed assays for J-21-011 returned two distinct high grade gold intervals within broader anomalous gold haloes, including:
- 13.2 g/t Au over 6.5 m, including 1.3 m of 43.5 g/t Au and within 15.0 m of 5.97 g/t Au
- 10.4 g/t Au over 5.0 m, within 12.5 m of 5.35 g/t Au
True widths are not yet known but are estimated to be 50-90% of above lengths
- Averaging all values (including barren zones) from base of mineralization to surface in J-21-011 yields 1.14 g/t across 163.5 metres
- Expanded Phase I drilling at Jupiter nearing completion, with assays pending for an additional 10 holes and similar zones of mineralization observed.
Vancouver, B.C., August 24, 2021: SNOWLINE GOLD CORP. (CSE: SGD) (US OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce additional results from its ongoing Phase I drilling of the Jupiter Zone on its district-scale Einarson project in the Yukon Territory, Canada. Two distinct intervals of high-grade gold (>10 g/t Au, with assays up to 63.9 g/t Au) in hole J-21-011 indicate the discovery of a robust in-situ gold system. Key results from hole J-21-011 are summarized in Table 1 below.
“Assay results from hole 11 confirm the discovery of a sizeable gold system at Jupiter,” said Scott Berdahl, CEO and Director of Snowline. “Initially we patted ourselves on the backs for hitting mineralization consistently with our first holes on a blind target. But now, with evidence of the system in 19 for 19 holes over 930 m lateral extent—including mineralization in holes off-trend and a hole drilled directly away from our “target”—we may have simply discovered a gold system that is tough to miss. What excites us even more is that Jupiter is the first of many targets left to test on our Einarson, Rogue and Ursa projects. It’s a successful proof-of-concept in what we believe to be a previously unrecognized and unexplored gold district.”
Hole J-21-011 represents a 710-metre step-out along trend from earlier holes at Jupiter (see Figure 1 and Snowline Gold’s July 27, 2021 news release). It was drilled on a pad along with J-21-010, 012 and 013, for which assays are still pending. Mineralization occurs in and around quartz-carbonate veins, breccias and possibly quartz-flooded fold hinges in deformed siltstones of the Selwyn Basin’s Narchilla formation (Figures 2 and 3). Gold values are associated with fine-grained sooty-looking to acicular arsenopyrite occurring as patches, disseminations and stylolites in quartz, with metres-scale zones of disseminated arsenopyrite and up to tens of metres of disseminated pyrite in clay-altered wall rock.
Drilling to date has tested parts of a 930 m area that is open in length, breadth and depth within a 3 km area of elevated to anomalous gold in soils. Assay results are still pending for holes J-21-005, 8, 10, 12, 13, 14, 15, 16 and 17, and select highlight photos are herein shown as Figures 5-7. Additional results from holes J-21-002 and J-21-009 have been received and are reported in Table 2. The final Phase I holes at Jupiter will test anomalous soil geochemistry and quartz float to the north of other targets, 460 m from any previous hole and roughly 1.1 km from J-21-011. Optical, acoustic and induced polarization downhole surveys are planned this season prior to closing holes to better constrain structural and lithological controls on mineralization.
Jupiter is thought to represent an epizonal orogenic gold system. It is one of nine target zones prospective for orogenic and/or Carlin-style gold mineralization currently recognized on Snowline Gold’s 70%-owned, district-scale Einarson project. No resources nor reserves have been calculated on any Einarson property targets, and while current results are encouraging, they do not guarantee that economically viable ore bodies will be encountered at Jupiter or elsewhere on the project.
The following Figures 5, 6 and 7 are visual highlights from ongoing Phase I drilling at Jupiter. While assays for these zones are pending and thus gold values are not yet known, the Company is encouraged by large zones of arsenopyrite-bearing quartz and mineralized wall rock that are qualitatively similar to mineralized zones in J-21-011.
Grades reported herein are uncut except where specified. Split samples of NQ2 diamond drill core were sealed with tamper-proof labels and delivered by Snowline staff or expeditor to ALS Geochemistry in Whitehorse, Yukon. Fifty-gram pulps were processed using aqua regia digestion, with 30 g pulps submitted for fire assay on any sample assaying above 50 parts per billion gold. Both streams were analysed using ICP-MS. Overlimit samples for gold (>10 g/t Au) were processed by fire assay with gravimetric finish. Blanks, quarter-core duplicates and certified reference standards are submitted every 20 samples to monitor assay reliability.
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 >90,000 ha. The Company is exploring its flagship 72,000 ha Einarson and Rogue gold projects in the highly gold prospective yet underexplored Selwyn Basin. Snowline’s project portfolio is within the prolific Tintina Gold Province that hosts multiple million-ounce-plus gold mines and deposits, such as 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.
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.