Vancouver, B.C. – April 3, 2024 – Snowline Gold Corp. (TSX-V: SGD) (OTC: SNWGF) (“Snowline”or the“Company”) is pleased to announce that it has entered into an agreement pursuant to which Cormark Securities Inc. and BMO Capital Markets, as co-lead underwriters, on behalf of a syndicate of underwriters (collectively, the “Underwriters”), have agreed to purchase, on a “bought deal” private placement basis, 3,205,000 “flow-through” shares of the Company (the “Charity FT Share”) at a price of $7.80 per Charity FT Share (“Offering Price”) for gross proceeds of $24,999,000 (the “Offering”). Each Charity FT Share will qualify as a “flow-through share” (within the meaning of subsection 66(15) of the Income Tax Act (Canada)).
The Underwriters will have the option, exercisable in whole or in part at any time up to 48 hours prior to the closing of the Offering, to arrange for the purchase of up to that number of Charity FT Shares at the Offering Price as is equal to 15% of the number of securities issued in connection with the Offering.
The Company will use an amount equal to the gross proceeds received by the Company from the sale of the Charity FT Shares, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible “Canadian exploration expenses” that qualify as “flow-through mining expenditures” as both terms are defined in the Income Tax Act (Canada) (the “Qualifying Expenditures”) related to the Company’s projects in the Yukon Territory, on or before December 31, 2025, and to renounce all the Qualifying Expenditures in favour of the subscribers of the Charity FT Shares effective December 31, 2024.
The Offering is expected to close on or about April 23, 2024, or such other date as the Company and the Underwriters may agree and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the acceptance of the TSX Venture Exchange.
The securities offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities law, and may not be offered, sold or delivered, directly or indirectly, within the United States, or to or for the account or benefit of U.S. persons, absent registration or an exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering >333,000 ha. The Company is exploring its flagship >94,000 ha Rogue gold project 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’s Fort Knox Mine, Northern Star’s Pogo Mine, 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary and Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that implies predictions, expectations, interpretations, opinions, plans, projections, objectives, assumptions, future events or performance (often using words such as “expects” or “does not expect”, “is expected”, “interpreted”, “in management’s opinion”, “anticipates”, or “plans”, “budget”, “schedule”, “forecasts” including negative and grammatical variations thereof, statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved) is not a statement of historical fact and may constitute forward-looking information and is intended to identify forward-looking information. This news release may contain forward-looking information relating to, among other things, the terms of the Offering; the use of proceeds of the Offering; the timing and ability of the Company to close the Offering; the timing and ability of the Company to receive necessary regulatory and other approvals, including the acceptance of the Offering by the TSX Venture Exchange; the ability of the Company to incur in full or at all “Canadian exploration expenses” that qualify as “flow-through mining expenditures” and the renunciation thereof to the purchasers of the Charity FT Shares and timing thereof; the tax treatment of the Charity FT Shares. These factors include, but are not limited to, risks associated with the ability of exploration activities (including drilling results) to accurately predict mineralization; the Company’s ability to obtain required approvals; the results of exploration activities; risks associated with mining operations; global economic conditions; metal prices; dilution; environmental risks; and community and non-governmental actions and general economic conditions. Although the forward-looking information contained in this news release is based on assumptions that management believes are reasonable at the time of release, Snowline Gold Corp. cannot provide any assurance that actual results will be consistent with the forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Snowline Gold Corp. nor any other person assumes responsibility for the accuracy or completeness of forward-looking information. All statements made, other than statements of historical fact, that address the Company’s intentions and the events and developments that the Company anticipates, are considered forward-looking statements. Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ from those in the forward-looking statements.
Vancouver, B.C., April 1, 2024: SNOWLINE GOLD CORP. (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce the early, voluntary exercise of 5 million warrants for total proceeds to the Company of C$12.5 million. The warrants were held by Ana Maria Cox de Gubbins. Through this acquisition, Ms. Cox has expanded her position to 10.6% of the outstanding shares of the Company.
“I would like to extend my congratulations and thanks to the Snowline team for their efforts and excellent work in building significant shareholder value,” said Ms. Cox. “We have had confidence in the Berdahl family’s initial exploration ideas for this area since before the Valley discovery was made. The results we have seen to date only strengthen our conviction in Snowline as a company and in the potential of the ground they explore.”
Added Scott Berdahl, CEO & Director of Snowline: “The ongoing support of Ms. Cox from our early exploration efforts in 2021 through to today has been a key component of Snowline’s strength in a difficult capital markets landscape. We are grateful for the support and for this display of confidence through early exercise of these warrants. The funds strengthen Snowline’s current treasury position to C$46.3 million, allowing us to focus on exploration and project advancement in what promises to be an exciting and potentially transformative 2024 field season.”
EARLY WARNING DISCLOSURE
On March 28, 2024, Ana Maria Cox de Gubbins acquired 5,000,000 common shares of the Company (the “Common Shares”) upon the exercise of common share purchase warrants (the “Warrants”) at a price of C$2.50 per Warrant for an acquisition cost of C$12,500,000 (the “Acquisition”). Prior to the Acquisition, Ms. Cox owned, directly or indirectly, or exercised control or direction over, 11,120,000 Common Shares, representing approximately 7.6% of the issued and outstanding Common Shares. Immediately following the Acquisition, Ms. Cox owns, directly or indirectly, or exercises control or direction over, 16,120,000 Common Shares, representing approximately 10.6% of the issued and outstanding Common Shares. The Acquisition was made for investment purposes. In accordance with applicable securities laws, Ms. Cox may, from time to time and at any time, acquire additional securities of the Company in the open market or otherwise, and reserves the right to dispose of any or all of her securities in the open market or otherwise at any time and from time to time, the whole depending on market conditions, the business and prospects of the Company and other relevant factors. This disclosure is provided pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Company is a reporting issuer, containing information with respect to the foregoing matters (the “Early Warning Report”). A copy of the Early Warning Report will be available under the Company’s profile on SEDAR+ at www.sedarplus.ca or may be obtained by contacting the Company at Suite 1012 – 1030 West Georgia Street, Vancouver, BC V6E 2Y3, info@snowlinegold.com, (778) 650-5485.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering >333,000 ha. The Company is exploring its flagship >94,000 ha Rogue gold project 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’s Fort Knox Mine, Northern Star’s Pogo Mine, 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain forward-looking statements, including statements regarding the potential of the 2024 field season to be a transformative year for the Company, the potential for investors to participate in multiple future discoveries, the Rogue project having district-scale prospectivity, the creation of a new gold district and the Company’s future plans and intentions. 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.
Newly discovered 2,000 m by 500 m zone of anomalous gold values in soil and talus fines samples on Rogue Project’s “Aurelius” target, 12 km northwest of Valley target
Two outcrop chip samples average 2.01 g/t Au over 17.0 m and 2.31 g/t Au over 14 m respectively (true widths unknown)
Mineralization hosted in altered sedimentary and volcanic rocks near outcropping granodiorite.
Vancouver, B.C., February 20, 2024: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce discovery of a new reduced-intrusion related gold system (RIRGS) target 12 km from its Valley discovery on its Rogue Project in the Yukon Territory, Canada. Analytical results received from the 2023 surface exploration program at the Company’s new Aurelius target reveal an open, 2,000 m long by up to 500 m wide zone of anomalous gold values in talus fines and soils, with concentrations of up to 14.9 g/t Au complemented by anomalous values for RIRGS pathfinder elements bismuth and tellurium. Rock chip samples from outcrops roughly 235 m apart averaging 2.01 g/t Au over 17.0 m (open) and 2.31 g/t Au over 14.0 m (true widths not known) demonstrate the potential for significant scale and a local source to the anomaly. Based on these results, Aurelius is a high priority exploration target at Rogue and a potential drill target in Snowline’s upcoming 2024 exploration program.
Figure 1 – Plan view of the Aurelius anomaly, showing the open extent of anomalous gold values in surface geochemistry and the location of the continuous rock chip samples. The presence of outcropping granodiorite in the vicinity of the anomaly, along with widespread magnetic highs suggest that an intact, causative intrusion may be located near surface. Background colours show geology, with green and orange units showing volcanic rocks (andesites and tuffs), while shades of yellow show sedimentary rocks (sandstones and siltstones). White areas are covered and/or have not been mapped.
“We are excited to see such strong and consistent gold numbers from the field team’s discovery at Aurelius,” said Scott Berdahl, CEO & Director of Snowline. “The scale, consistency and geochemistry of the surface anomaly—which remains open—demonstrates a strong gold-bearing hydrothermal system driven by a nearby intrusion. The outcrop samples show that the country rock hosts gold mineralization, a typical feature of reduced-intrusion related gold systems. Thus, we have two immediate exploration targets: country rock-hosted mineralization directly outcropping at Aurelius and driving the gold anomalism over a large area, and the potential for an intact, near-surface Valley-like intrusion-hosted target. Valley itself is visible from the new target along a prominent structural corridor that connects the two locations—we consider Aurelius a prospective location for a sibling discovery.”
Figure 2 – Location map showing Aurelius relative to Valley and other drilled, gold-bearing RIRGS targets on Snowline’s Rogue Project. The new target is on trend with a prominent linear northwest-southeast trending valley that hosts Snowline’s Valley discovery.
Grid and contour sampling of talus fine and soils at Aurelius delineates an open, 2,000 x 500 m zone of consistently elevated to anomalous gold concentrations, to a maximum of 14.9 g/t Au in talus fines. Eighty-nine of 192 samples (46%) returned >0.05 g/t Au, with 62 of these exceeding 0.1 g/t Au. Strong results along the southern, southeastern and northwestern limits of the survey suggest potential for a larger target area, as do anomalous talus fine results to the southwest of the main anomaly (Figure 1) and high gold values in historical stream sediment samples from surrounding drainages. Gold values at Aurelius have elevated bismuth (up to 352 ppm) and tellurium (up to 21.9 ppm) values along with generally low levels of arsenic—a geochemical signature similar to that of Snowline’s Valley discovery. Elevated to anomalous concentrations of tungsten, silver, lead and copper are also present and correlate with gold.
Two exposed outcrops at Aurelius were sampled by continuous rock chip sampling, across distances of 100 m and 22 m respectively (Figure 1). The outcrops themselves are roughly 235 m apart. The 100 m section, sampled in 2 m subsections, returned a continuously mineralized interval of 14.0 m averaging 2.31 g/t Au and 21.1 g/t Ag, including 4.0 m @ 3.59 g/t Au and 10.2 g/t Ag, and 2.0 m @ 5.49 g/t Au and 82.9 g/t Ag, along with other zones of elevated gold values (0.1 g/t to 0.4 g/t Au, with one additional 2.0 m subsection @ 3.48 g/t Au). The 22 m section, sampled in 1 m subsections, returned a continuously mineralized interval of 17.0 m averaging 2.01 g/t Au, including 2.0 m @ 4.22 g/t Au, and 2.0 m @ 4.94 g/t Au at the open edge of the 22 m section. These rock chip samples were taken by hand using rock hammers and are thus not as representative as drill core samples. True widths for the mineralized intervals are not known, but the samples were oriented nearly perpendicular to north-south and northeast-southwest structures that appear to control mineralization.
Figure 3 – Plan view showing relative locations of the two continuous outcrop chip samples taken at Aurelius. Both samples come from a tuff unit that caps a prominent east-west ridge top in the southern part of the larger geochemical anomaly.
Aurelius is underlain by a sequence of interlayered Paleozoic sedimentary and volcanic rocks, cut by steeply dipping north-south and northeast-southwest structures and altered by fluids from subsequent emplacement of intrusive rocks (Figures 1 and 3). Alteration takes the form of silicification, clay alteration associated with the structures and hornfels in sedimentary rocks. The highest gold values are associated with pervasive silicification in tuff sequences. The target sits 4.5 km west of the mid-Cretaceous Old Cabin Pluton. Airborne magnetics and the observation of outcropping granodiorite roughly 600 m west of the target highlight the presence of additional intrusive rocks in the vicinity of the anomaly, and the potential for a Valley-style mineralized intrusion located near surface at Aurelius.
The Company plans to follow up on the target aggressively in 2024, with additional surface sampling and mapping, an airborne ZTEM geophysical survey to assist in targeting, and potentially Phase I drilling.
Historical work at Aurelius is sparse. The “Horn” mineral occurrence (Yukon Minfile 105O 010) roughly 1 km west of Aurelius was noted and sampled as a copper occurrence in 1970. In 1982, two soil lines intersected parts of the anomaly, returning high gold values that have not been directly verified by the Company. Snowline had previously identified the broader area west of the Old Cabin pluton, including Aurelius, as a primary target area for exploration based on historical results and magnetic anomalism. The discovery of Aurelius marks the delineation of a new RIRGS target on the Rogue Project.
With steep, rocky terrain and poor soil development on parts of Aurelius, many surface geochemistry samples are classified as talus fines. Talus fines samples are produced by mechanical weathering of rocks and are less modified by chemical weathering than typical soils. Some elements in talus fine samples may have stronger geochemical responses than soils from over a bedrock geochemical anomaly. Talus fine samples are also more susceptible to a sampling bias wherein more easily weathered mineralized zones, such as sulphide-rich veins, can contribute a larger portion of the talus fine sediment load than the more durable and relatively barren country rock, resulting in a concentration of associated elements like gold.
ABOUT ROGUE
Snowline’s flagship Rogue Project hosts the Valley target, a newly discovered, bulk tonnage style, reduced intrusion-related gold system (RIRGS), with geological similarities to multi-million-ounce deposits currently in production such as 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-suite 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 additional work is completed.
The Rogue Project area hosts multiple intrusions that are geologically 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 considered by the Company to have district-scale potential for additional reduced intrusion-related gold systems.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering >333,000 ha. The Company is exploring its flagship >94,000 ha Rogue gold project 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’s 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.
Figure 4 – Project location map for Snowline Gold’s eastern Selwyn Basin properties: Rogue, Einarson, Ursa, Cynthia and Olympus. The Valley target is one of several prospective reduced intrusion-related gold targets on the broader 30 x 60 km Rogue Project.
QUALIFIED PERSON
Information in this release has been prepared under supervision of and approved by J. Scott Berdahl, M.Sc., P. Geo., CEO & Director of Snowline Gold Corp, as Qualified Person for the purposes of National Instrument 43-101.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain forward-looking statements, including statements regarding the significance of analytical results, the discovery potential within the Valley intrusion, the potential for investors to participate in multiple future discoveries, the Rogue project having district-scale prospectivity, the creation of a new gold district and the Company’s future plans and intentions. 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.
Vancouver, B.C., February 5, 2024: SNOWLINE GOLD CORP (TSX-V: SGD) (OTCQB: SNWGF) (the “Company” or “Snowline”) announces today that Mr. Gunther Roehlig has tendered his resignation as an independent director of the Company, effective immediately, to focus on his other professional commitments. He will continue to support the Company as a consultant.
Craig Hart, Chair of Snowline Gold stated, “On behalf of the Board of Directors and management, we would like to thank Gunther for his valuable contributions as a founding director of the Company, and throughout his subsequent tenure. We wish him the best with his future endeavours and look forward to his continued support as a consultant and shareholder.”
The Board of Directors is in the process of expanding the breadth of the Board and aims to strengthen its composition with an individual having advanced project or mine development expertise, as the Company advances its Rogue Project from exploration through to resource development.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering >333,000 ha. The Company is exploring its flagship >94,000 ha Rogue gold project 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’s 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain forward-looking statements. 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.
Vancouver, B.C., January 22, 2024: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce the appointment of Brian Hegarty to its management team as Vice President of Sustainability and External Relations.
“We are excited to have Brian Hegarty join our team at a key juncture for Snowline, with a major gold discovery in hand at our Rogue Project’s Valley target and a large, target-rich mineral claim portfolio taking shape around it,” said Scott Berdahl, CEO & Director of Snowline. “Mr. Hegarty brings highly relevant experience to the Company along with a complementary skillset to strengthen our commitment to our core values of community building, environmental respect and integrity. His appointment reflects a strategic focus on generating positive external impacts through Snowline’s activities while building shareholder value through the de-risking and progression of the Valley target past the exploration stage, in an environmentally sound manner.”
Mr. Hegarty has more than 15 years’ experience in Indigenous, environmental and regulatory affairs, focussed on mining in the Yukon. He began his career working as a project manager on development stage projects preparing for environmental assessment with BC Hydro and Port Metro Vancouver in BC, followed by the Kudz Ze Kayah mine development in the Yukon. Most recently, he served as Vice President at C3 Alliance Corp, a Canadian-based consultancy that works with First Nations communities, resource companies and government to identify and enact mutually beneficial solutions for resource development. Prior to this, he worked as a consultant to Newcrest Mining on the implementation of their project agreements with First Nations on their operating Canadian assets, and as Vice President of the Dena Nezziddi Development Corporation, the economic and business development arm of the Yukon-based Ross River Dena Council, who are a Kaska Nation. Mr. Hegarty holds an MSc in Environmental and Infrastructure Planning from the University of Groningen, and a BSc in Spatial Planning and Environmental Management from the Technological University Dublin.
The new role will focus primarily on advancement and de-risking of the Valley target and other targets in areas beyond of geological exploration, with key responsibilities including strengthening existing working relationships with First Nations, governments, communities and other key contacts, overseeing advanced permitting, planning and managing environmental baseline work, and engaging with technical advisors on other aspects of early project development.
ABOUT ROGUE
The Valley target on Snowline’s flagship Rogue Project is a newly discovered, bulk tonnage style, reduced intrusion-related gold system (RIRGS), with geological similarities to multi-million-ounce deposits currently in production such as 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-suite 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 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.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering >333,000 ha. The Company is exploring its flagship >94,000 ha Rogue gold project 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’s 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.
Figure 1 – Project location map for Snowline Gold’s eastern Selwyn Basin properties: Rogue, Einarson, Ursa, Cynthia and Olympus. The Valley target is one of several prospective reduced intrusion-related gold targets on the broader 30 x 60 km Rogue Project.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain forward-looking statements, including statements regarding the creation of a new arm of the Company, the progression of the Valley target past the exploration stage, the discovery potential within the Valley intrusion, the potential for investors to participate in multiple future discoveries, the Rogue project having district-scale prospectivity, the creation of a new gold district and the Company’s plans and intentions. 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.
Hole V-23-070, drilled perpendicular to previous holes, returned 382.4 m averaging 2.12 g/t Au, including 113.4 m of 3.51 g/t Au from surface,demonstrating robust three-dimensional continuity of near-surface mineralization at Valley
Hole V-23-068 and V-23-069 show high grades and strong consistency at the open northeastern edge of known mineralization at Valley, returning 384.6 m averaging 1.24 g/t Au from surface and 437.0 m averaging 1.01 g/t Au (including 2.68 g/t Au over 60.3 m) respectively.
Vancouver, B.C., January 22, 2024: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce analytical results from additional exploration holes drilled during its 2023 exploration campaign in Canada’s Yukon Territory. At the Rogue Project’s Valley target, hole V-23-070 returned 2.12 g/t Au over 382.4 m downhole, including 3.51 g/t Au over 113.4 m from surface. The hole was drilled to the southeast, making it the first meaningful test of continuity in a direction other than the southwest and northeast azimuths of previous holes. Holes V-23-068 and V-23-069 were drilled in the northeastern part of the target, extending the boundary of strong gold mineralization which remains open in this direction and will be targeted as part of the upcoming 2024 drill campaign at Valley.
Table 1 – Highlight summary of Snowline’s latest assay results. *Interval widths reported; true widths of the system are not yet known.
“The results from hole V-23-070 add a new dimension to our understanding of gold mineralization at our 100%-owned Rogue Project’s Valley target,” said Scott Berdahl, CEO & Director of Snowline. “It is the first hole drilled along the strike of the system to test continuity in that direction, and the results hold up very well. This continuity of mineralization further de-risks Valley by showing connectivity of mineralization between previously drilled sections orientated perpendicular to V-23-070, and by demonstrating that strong gold grades at Valley are largely independent of drilling orientation. Additional holes V-23-068 and V-23-069 continue to build on the known scale of the gold system at Valley, highlighting an open edge of mineralization that we are eager to explore as part of an aggressive drill campaign to advance both Valley and the broader Rogue Plutonic Complex in 2024.”
In addition, the Company will commence an advanced round of metallurgical testing in Q1 2024 to assess optimal processing methods and to quantify processing parameters that will assist in future economic assessments of the Valley target. This testing will primarily use material from a PQ-sized hole drilled as a near twin to V-23-066.
Figure 1 – Cross-section B, showing V-23-070 in the context of adjacent holes along a longitudinal section and a simplified, schematic geological model. This hole demonstrates the consistency of mineralization at Valley regardless of drill hole orientation along with continuity of mineralization between previous, parallel holes. Note that the entire hole is mineralized, with a zone of >1 and >2 g/t Au assays within the final 70 m of the hole, at depth in the southeastern part of the system. Previous holes, drilled to the southwest and northeast, pass into and out of the section, which represents a 100 m thick slice. View looks northwest. See Figure 2 for section location in plan view.
HOLE V-23-070
V-23-070 averages 2.12 g/t Au across 382.4 m downhole from bedrock surface (at 3.7 m downhole) to the end of hole at 386.0 m. The entire hole is mineralized, with the highest sustained grades closest to surface (Table 2). The top 113.4 m of the hole average 3.51 g/t Au, with the top 24.9 m averaging 5.95 g/t Au. Despite localized higher grades, mineralized intervals are carried by consistently anomalous gold values, as indicated by the high remainder values (which exclude higher grade sub-intervals) along with the high capped values (limiting any assay to a maximum of 10 g/t Au) shown in Table 2.
V-23-070 is collared on the same drill site as V-23-064 (308.8 m averaging 2.15 g/t Au, see Snowline news release dated January 3, 2024), which was drilled to the southwest. It is 64 m to the north of V-22-014 (1.45 g/t Au over 285.2 m, see Snowline news release dated November 15, 2022) and 107 m to the southwest of V-22-007 (410.0 m @ 1.89 g/t Au from surface including 3.24 g/t Au over 146.0 m Au starting at 56.0 m depth, see Snowline news release dated November 15, 2022). The hole begins in coarse-grained granodiorite and remains in coarse-grained granodiorite for its entire length, with minor xenoliths and intrusive breccias locally. Quartz vein density is low (averaging 5 veins/metre) and decreases downhole, though this is in part an artifact of the low angle of quartz veins to drill core. Strong mineralization continues to the end of the hole at 386.0 m.
The hole is centrally collared within the core of the near-surface, high-grade mineralization of the Valley target and is the first hole drilled parallel (towards the southeast) to the dominant NW-SE strike of the mineralized trend at Valley. The hole was drilled in this orientation to provide information about the continuity of the system in an orientation that had not previously been tested. This hole strengthens the core of the known boundary of multiple-gram-per-tonne gold mineralization. Continuity of strong mineralization extending to the southeast further demonstrates the open nature of >1 g/t mineralization at Valley.
Figure 2 – Plan view of the Rogue Project’s Valley target showing analytical results from previous and current drilling, along with drill traces of outstanding holes. Note that to display new results, current holes are plotted above previous holes regardless of relative depths. The system remains open in multiple directions, including to depth. Endpoints for sections A (Figure 1) and B (Figure 3) are indicated on the map.
Table 2 – Summary of significant mineralization returned from current holes at Valley. The consistency of strong mineralization on the target is reinforced by the capped values in the rightmost column, wherein any assay result >10 g/t Au is replaced by 10.0 g/t Au to calculate the average interval grades. *Interval widths reported; true widths of the system are not yet known, with different vein generations, orientations, and grade distributions present within various intervals through the bulk tonnage gold target at Valley.
HOLES V-23-068 & V-23-069
Both V-23-068 and V-23-069 form part of a fence of holes across the northwestern part of the well-mineralized, near surface corridor within the Valley intrusion (Figures 2 and 3).
V-23-068 is collared on the same drill site as V-23-063 (342.0 m averaging 1.59 g/t Au, see Snowline news release dated January 3, 2024), though was drilled to the northeast to test the continuity of the system in this orientation. The hole averaged 384.6 m of 1.24 g/t Au, including 1.57 g/t Au over 236.1 m, with both intervals beginning at bedrock surface of 4.4 m. A single 1.0 m interval (116.0-117.0 m) returned 13.3 g/t Au. V-23-069 is the north easternmost hole drilled at Valley to date collared 89 m northeast of V22-029 (558.3 m averaging 1.3 g/t Au, see Snowline news release dated February 24, 2023) and returned 437.0 m of 1.01 g/t Au, beginning at 47.0 m depth, and includes 252.5 m averaging 1.50 g/t Au starting at 142.5 m, which is influence by three >10 g/t Au 1.0 m wide samples between 14.9 g/t Au and 48.10 g/t Au – see Table 2 for the complete summary of results from this release at Valley). Both these holes demonstrate the strong continuity within the well-mineralized gold zone to the northeast.
Figure 3 – Cross-section B, showing V-23-068 & V-23-069 in the context of adjacent holes along section and a simplified, schematic geological model. Both holes returned consistently high gold grades, demonstrating continuity of strong mineralization and shows the system is remains open to the northeast. View looks northwest. Holes V-22-029 and V-22-033 are in front of the section—see Figure 2 for collar locations in plan view.
V-23-068 commences in strong, sheeted gold-bearing quartz vein mineralization (Figure 3) hosted in coarse grained granodiorite from bedrock surface at 4.4 m downhole and continues in predominantly strong mineralization until approximately 387 m downhole, near where quartz vein densities and occurrences of visible gold decrease, corresponding to sporadic narrow intervals with low grade mineralization. From surface, multiple gold-bearing quartz vein orientations are present, with a dominant sheeted vein array striking northwest and steeply dipping to the northeast, as commonly seen in the primary mineralized zone at Valley.
V-23-069 is collared in coarse grained granodiorite with minor xenoliths and dikes of medium grained intrusive rock. The top of the hole encounters low quartz vein densities but further downhole at 192 m strong quartz vein densities (15 veins/metre) are intersected through to 379.0 m where it intersects the finer-grained intrusive, where gold grades are again lower and corresponds to a decrease in quartz vein density. The hole remained in the fine-grained intrusive rock until its termination at 484 m.
REGIONAL DRILLING
Tosh Project, Southwest Yukon
Analytical results have been received for an additional four holes from a Phase I drill program on the Yarrow target at Snowline Gold’s Tosh Project, an orogenic gold project located in the southwestern Yukon. This program represents the first-ever drill testing anywhere on the broader Tosh project area.
Localized, elevated gold values (0.10 to 0.72 g/t Au) were present as rare, generally discrete intervals in all four holes, variously associated with faulting, brecciation and alteration of sedimentary host rocks. The results demonstrate the presence of an orogenic-type gold system. The higher gold and silver grades encountered in surface sampling have yet to be explained by drilling, and multiple kilometers-scale geochemical anomalies at Tosh remain untested by any drilling to date. A summary of mineralized intervals of the current holes is shown in Table 3.
Figure 4 – Map showing the location of the Tosh Project, in the southwest Yukon. Tosh covers a series of untested, kilometers-scale orogenic gold targets with geological similarities to the White Gold district roughly 100 km to the north. Resource figures shown are based on public disclosure from third parties and have not been verified by the Company.
Table 3 – Summary of mineralization returned from current holes the Tosh Project Coordinates are presented in NAD83 Zone 7. *Interval widths reported; true widths of the systems are not yet known.
QA/QC
On receipt from the drill site NQ2-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline’s 2023 field camp. Sample lengths as small as 0.5 m were used to isolate features of interest, but most samples within moderate to strong mineralization were 1.0 m in length; otherwise, a default 1.5 m downhole sample length was used. Core was cut in half lengthwise along a pre-determined line, with one half (same half, consistently, dictated by orientation line where present or by dominant vein orientation where absent) collected for analysis and one half stored as a record. Field duplicates were collected at regular intervals as ¼ core samples by splitting the ½ core sent for sampling, leaving a consistent record of half core material from duplicate and non-duplicate samples alike. Standard reference materials and blanks were inserted by Snowline personnel at regular intervals into the sample stream. Bagged samples were sealed with security tags to ensure integrity during transport. They were delivered by expeditor to Bureau Veritas’ preparatory facility in Whitehorse, Yukon. Sample preparation was completed in Whitehorse, with analyses completed in Vancouver.
Similar procedures were employed on the Tosh Project, though drill core was transported to Whitehorse in advance of detailed logging and sampling.
Bureau Veritas is accredited to ISO/IEC 17025 and ISO9001 for quality management. Samples were crushed by BV to >85% passing below 2 mm and split using a riffle splitter. 250 g splits were pulverized to >85% passing below 75 microns. A four-acid digest with an inductively coupled plasma mass spectroscopy (ICP-MS) finish was used for 59-element analysis on 0.25 g sample pulps (BV code: MA250). All samples were analysed for gold content by fire assay with an atomic absorption spectroscopy (AAS) finish on 30 g samples (BV code: FA430). Any sample returning >10 g/t Au was reanalysed by fire assay with a gravimetric finish on a 30 g sample (BV code: FA530).
For the purposes of this release, mineralized intervals are defined as runs of mineralization with no break >5.0 m assaying <0.1 g/t Au, including any subsections thereof.
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 considered by the Company to have district-scale potential for additional reduced intrusion-related gold systems.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering >333,000 ha. The Company is exploring its flagship >94,000 ha Rogue gold project 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’s 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.
Figure 5 – Project location map for Snowline Gold’s eastern Selwyn Basin properties: Rogue, Einarson, Ursa, Cynthia and Olympus. The Valley target is one of several prospective reduced intrusion-related gold targets on the broader 30 x 60 km Rogue Project.
QUALIFIED PERSON
Information in this release has been prepared under supervision of and approved by Thomas K. Branson, M.Sc., P. Geo., VP Exploration of Snowline Gold Corp, as Qualified Person for the purposes of National Instrument 43-101.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain forward-looking statements, including statements regarding the significance of analytical results, the discovery potential within the Valley intrusion, the potential for investors to participate in multiple future discoveries, the Rogue project having district-scale prospectivity, the creation of a new gold district and the Company’s future plans and intentions. 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.
Hole V-23-066 returned 383.0 m averaging 2.00 g/t Au, including 107.5 m of 3.95 g/t Au from surface (with an interval of 16.0 m averaging 7.52 g/t Au), showing strong continuity of multiple-gram-per-tonne, near-surface gold mineralization across a gap in previous drilling.
Holes V-23-065 and V-23-067 show high grades and strong consistency in the eastern part of the Valley target, returning 344.5 m averaging 1.14 g/t Au (including 1.60 g/t Au over 177.5 m) and 418.4 m averaging 1.62 g/t Au (including 2.91 g/t Au over 152.0 m) respectively, with the wider interval for each hole beginning from surface.
Analytical results pending for 2,640 m from 8 holes (including one metallurgical hole at Valley) across two projects—Rogue and Tosh.
Vancouver, B.C., January 15, 2024: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce analytical results from three additional drill holes from its 2023 exploration campaign at the Valley target on its Rogue Project in Canada’s Yukon Territory. All three holes, collared near the open eastern boundary of Valley’s well-mineralized, near surface gold corridor, returned broad intervals of robust mineralization. Hole V-23-066 averages 2.00 g/t Au over 383.0 m downhole from surface, including 3.95 g/t Au over 107.5 m. Within this is one of the highest-grade sustained intervals seen to date at Valley, averaging 7.52 g/t Au over 16.0 m downhole. Hole V-23-067 averages 1.62 g/t Au over 418.4 m, including 2.91 g/t Au over 152.0 m with a higher grade zone of 5.58 g/t Au over 29.0 m. Assays for more than 2,640 m of diamond drilling from Snowline’s 2023 exploration efforts are forthcoming.
Table 1 –Highlight summary of Snowline’s latest assay results. *Interval widths reported; true widths of the system are not yet known.
“Today’s results highlight the strength and scale of mineralization near the open, eastern edge of the well-mineralized, near surface corridor at our Valley target,” said Scott Berdahl, CEO and Director of Snowline. “V-23-066 is drilled through a gap in the east-central part of the target, carrying an average grade of almost 4 g/t Au over a 107.5 m downhole interval, within a broad interval of consistent, multi-gram gold starting from surface. Such grades are highly atypical of a reduced-intrusion related gold system. Additional strong grades in holes V-23-065 and -067 bolster the known scale of the eastern part of the system, where we are still chasing open boundaries of mineralization at Valley. As we await further drill results and metallurgical studies, this demonstration of robust mineralization in the eastern part of the target highlights a key direction for potential expansion of the Valley system that we will be testing in our upcoming 2024 exploration campaign.”
Figure 1 – Plan view of the Rogue Project’s Valley target showing analytical results from previous and current drilling, along with drill traces of outstanding holes. Note that to display new results, current holes are plotted above previous holes regardless of relative depths. The system remains open in multiple directions, including to depth. Endpoints for sections A (Figure 2) and B (Figure 3) and C (Figure 4) are indicated on the map.
HOLE V-23-067
The entire hole is mineralized. V-23-067 averages 1.62 g/t Au across 418.4 m downhole from bedrock surface (at 3.6 m downhole) to the end of hole at 422.0 m. From 62.0 m downhole, the hole averages 2.91 g/t Au over 152.0 m, including 29.0 m of 5.58 g/t Au (influenced by a 3.0 m run averaging 21.87 g/t Au). Despite localized higher grades, mineralized intervals are carried by consistently anomalous gold values, as indicated by the high remainder values (which exclude higher grade sub-intervals) along with the high capped values (limiting any assay to a maximum of 10 g/t Au) shown in Table 2.
V-23-067 is collared 54 m to the northwest of V-23-065 (this release) and 39 m to the southwest of V-22-007 (410.0 m @ 1.89 g/t Au from surface including 3.24 g/t Au over 146.0 m Au starting at 56.0 m depth, see Snowline news release dated November 15, 2022). This hole is collared in coarse-grained granodiorite and continues in coarse-grained granodiorite, with minor xenoliths and dikes of finer-grained intrusive rock, until intersecting the finer-grained intrusive at 300 m where gold grades are lower with a corresponding decrease in quartz vein density. The hole remained in the fine-grained intrusive rock to 351 m, where it continued to intersect course-grained granodiorite until to the end of the hole at 422 m.
Figure 2 – Cross-section A, showing V-23-067 in the context of adjacent holes along section and a simplified, schematic geological model. This hole demonstrates breadth of consistent mineralization perpendicular to the northwest strike of the system in this area. View looks northwest. See Figure 1 for section location.
V-23-067 is the northeasternmost in a SW-NE fence of holes drilled perpendicular to the NW-SE strike of the mineralized trend at Valley. It extends the known boundary of multiple-gram-per-tonne gold mineralization roughly 65 m to the northeast along this section and demonstrates the open nature of strong mineralization at Valley.
HOLE V-23-066
Hole V-23-066 is collared in coarse-grained granodiorite within the Valley intrusion roughly 48 m northwest of the nearest hole, V-22-007 (410.0 m @ 1.89 g/t Au from surface including 3.24 g/t Au over 146.0 m Au starting at 56.0 m depth, see Snowline news release dated November 15, 2022) and 58 m southeast of V-23-037 (383.8 m @ 2.47 g/t Au including 120.0 m @ 4.06 g/t Au from surface, see Snowline news release dated August 3, 2023).
The hole commences in strong, sheeted gold-bearing quartz vein mineralization (Figure 3) from bedrock surface at 3.5 m downhole and continues in predominantly strong mineralization until approximately 100 m downhole, near where the hole intersects a central, valley-parallel fault at 98 m downhole. Quartz vein densities and occurrences of visible gold increase below the fault, with higher grade mineralization continuing until a second valley-parallel fault at 277 m downhole. Below the second fault, quartz vein densities and occurrences of visible gold decrease along with the gold grade, though low grade mineralization continues to the end of the hole at 386.5 m, where the hole terminates within the intrusion. Multiple gold-bearing quartz vein orientations are present, with a dominant sheeted vein array striking northwest and steeply dipping to the northeast, as commonly seen in the primary mineralized zone at Valley.
Figure 3 – Cross-section B, showing V-23-066 in the context of adjacent holes along or near to the cross section and a simplified, schematic geological model. The middle part of the hole returned consistently high gold grades, demonstrating continuity of strong mineralization through a gap in previous drilling. View looks northwest. Hole V-23-034 is behind the section—see Figure 1 for collar locations in plan view.
Overall, the entire 383 m downhole from bedrock surface averages 2.00 g/t Au, with an internal interval of 107.5 m averaging 3.95 g/t Au beginning from 110.0 m downhole. Within this, the highest grades are seen in the core with a subinterval of 16.0 returning 7.52 g/t Au. The presence of such high and consistent gold grades beginning at surface in a large gap in previous drilling further de-risks the mineral system at Valley, demonstrating strong continuity within the well-mineralized multi-gram gold zone.
A twinned PQ-diameter hole, V-23-MET-001, was drilled from the same drill pad with similar orientation to V-23-066. Material from this hole will be used for additional metallurgical and processing test work over the coming months.
Table 2 – Summary of significant mineralization returned from current holes at Valley. The consistency of strong mineralization on the target is reinforced by the capped values in the rightmost column, wherein any assay result >10 g/t Au is replaced by 10.0 g/t Au to calculate the average interval grades. *Interval widths reported; true widths of the system are not yet known, with different vein generations, orientations, and grade distributions present within various intervals through the bulk tonnage gold target at Valley.
HOLE V-23-065
V-23-065 is collared 69 m to the southwest of V-22-027 (481.5 m @ 0.69 g/t Au, starting from 11.5 m depth, see Snowline news release dated May 2, 2023), and 83 m to the northeast of V-23-036 (414.5 m @ 1.53 g/t Au starting at 4.0 m depth, see Snowline news release dated July 18, 2023), with all three holes forming a fence across the southeastern part of the well-mineralized, near-surface corridor within the Valley intrusion (Figure 3). This hole is collared in coarse-grained granodiorite, with minor xenoliths and dikes of finer-grained intrusive rock, until intersecting the finer-grained intrusive at 343 m where gold grades are lower with a corresponding decrease in quartz vein density. The hole remained in the fine-grained intrusive rock until its termination at 428.0 m.
The hole exhibits a moderately strong mineralized interval, demonstrating the strength and scale of the system in this area. V-23-065 averages 1.14 g/t Au across 344.5.0 m downhole from bedrock surface (at 5.4 m downhole), with an internal interval of 1.60 g/t Au over 177.5 m from 58.0 m downhole. A second mineralized interval begins just below this, averaging 0.54 g/t Au over 72.0 m from 356.0 m downhole, continuing to the end of the hole.
V-23-065 adds breadth to the known extent of near-surface >1 g/t Au mineralization in the eastern part of the Valley gold system, which remains open. This hole and the others in this release demonstrate the robustness of the system, as drilling has yet to define the edges of the well-mineralized, near-surface corridor within the Valley intrusion (Figure 4).
Figure 4 – Cross-section C, showing V-23-065 in the context of adjacent holes along section and a simplified, schematic geological model. This hole demonstrates the breadth of consistent mineralization perpendicular to the northwest strike of the system in this area. Note that V-22-027 is drilled in front of the section, while V-23-065 is plotted on top to highlight the present results. View looks northwest. See Figure 1 for section location and the relative NW-SE locations of the hole traces.
QA/QC
On receipt from the drill site NQ2-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline’s 2023 field camp. Sample lengths as small as 0.5 m were used to isolate features of interest, but most samples within moderate to strong mineralization were 1.0 m in length; otherwise, a default 1.5 m downhole sample length was used. Core was cut in half lengthwise along a pre-determined line, with one half (same half, consistently, dictated by orientation line where present or by dominant vein orientation where absent) collected for analysis and one half stored as a record. Field duplicates were collected at regular intervals as ¼ core samples by splitting the ½ core sent for sampling, leaving a consistent record of half core material from duplicate and non-duplicate samples alike. Standard reference materials and blanks were inserted by Snowline personnel at regular intervals into the sample stream. Bagged samples were sealed with security tags to ensure integrity during transport. They were delivered by expeditor to Bureau Veritas’ preparatory facility in Whitehorse, Yukon. Sample preparation was completed in Whitehorse, with analyses completed in Vancouver.
Bureau Veritas is accredited to ISO/IEC 17025 and ISO9001 for quality management. Samples were crushed by BV to >85% passing below 2 mm and split using a riffle splitter. 250 g splits were pulverized to >85% passing below 75 microns. A four-acid digest with an inductively coupled plasma mass spectroscopy (ICP-MS) finish was used for 59-element analysis on 0.25 g sample pulps (BV code: MA250). All samples were analysed for gold content by fire assay with an atomic absorption spectroscopy (AAS) finish on 30 g samples (BV code: FA430). Any sample returning >10 g/t Au was reanalysed by fire assay with a gravimetric finish on a 30 g sample (BV code: FA530).
For the purposes of this release, mineralized intervals are defined as runs of mineralization with no break >5.0 m assaying <0.1 g/t Au, including any subsections thereof.
ABOUT ROGUE
The Valley target on Snowline’s flagship Rogue Project is a newly discovered, bulk tonnage style, reduced intrusion-related gold system (RIRGS), with geological similarities to multi-million-ounce deposits currently in production such as 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-suite 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 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.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering >333,000 ha. The Company is exploring its flagship >94,000 ha Rogue gold project 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’s 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.
Figure 5 – Project location map for Snowline Gold’s eastern Selwyn Basin properties: Rogue, Einarson, Ursa, Cynthia and Olympus. The Valley target is one of several prospective reduced intrusion-related gold targets on the broader 30 x 60 km Rogue Project.
QUALIFIED PERSON
Information in this release has been prepared under supervision of and approved by Thomas K. Branson, M.Sc., P. Geo., VP Exploration of Snowline Gold Corp, as Qualified Person for the purposes of National Instrument 43-101.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain forward-looking statements, including statements regarding the significance of analytical results, cost-effective production of gold, the discovery potential within the Valley intrusion, the potential for investors to participate in multiple future discoveries, the Rogue project having district-scale prospectivity, the creation of a new gold district and the Company’s future plans and intentions. 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.
Hole V-23-064 returned 308.8 m averaging 2.15 g/t Au, including 180.3 m of 3.23 g/t Au from surface (with the top 68.3 m averaging 5.03 g/t Au), showing strong continuity of multiple-gram-per-tonne, near-surface gold mineralization across gap in previous drilling
Hole V-23-062 and V-23-063 show high grades and strong consistency in the northwestern part of the Valley target, returning 417.0 m averaging 1.41 g/t Au (including 2.25 g/t Au over 110.0 m) and 342.0 m averaging 1.59 g/t Au (including 2.00 g/t Au over 189.5 m) respectively, with both intervals beginning from surface
Analytical results pending for 3,850 m from 11 holes (including one metallurgical hole at Valley) across two projects—Rogue and Tosh.
Vancouver, B.C., January 3, 2024: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce analytical results from additional exploration holes drilled during its 2023 exploration campaign in Canada’s Yukon Territory. Hole V-23-064 returned 2.15 g/t Au over 308.8 m downhole, including 3.23 g/t Au over 180.3 m from surface, demonstrating strong consistency of near-surface, multiple-gram-per-tonne-gold mineralization within a gap in previous drilling at the Rogue Project’s Valley target. Holes V-23-062 and V-23-063 were drilled in the northwestern part of the target and add dimensionality and consistency to known mineralization in that direction. Assays for more than 3,850 m of diamond drilling from Snowline’s 2023 exploration efforts are forthcoming.
Table 1 – Highlight summary of Snowline’s latest assay results. *Interval widths reported; true widths of the system are not yet known.
“The latest results from the Rogue Project’s Valley target further emphasize the continuity of strong, near-surface gold mineralization present across a wide area,” said Scott Berdahl, CEO & Director of Snowline. “V-23-064 is drilled through one of the largest remaining gaps in the central part of the target, carrying an average grade of >3 g/t Au over a 180 m downhole interval from surface. As is generally the case at Valley—and as seen in holes drilled in every direction around V-23-064—mineralization is remarkably consistent. Every single assay in the first 100 m downhole returned >1.0 g/t Au. On the high side, only three samples in V-23-064 returned >10 g/t Au, so the intervals are not heavily influenced by outliers but are carried instead by consistent grade. Additional holes V-23-062 and 063 bolster the known scale of the northern part of the system, where we are still chasing open boundaries to mineralization. With results for six holes remaining from the 2023 drill program at Valley, we are excited by the large robust mineral system taking shape at the target.”
Figure 1 – Plan view of the Rogue Project’s Valley target showing analytical results from previous and current drilling, along with drill traces of outstanding holes. Note that to display new results, current holes are plotted above previous holes regardless of relative depths. The system remains open in multiple directions, including to depth. Endpoints for sections A (Figure 3) and B (Figure 2) are indicated on the map.
HOLE V-23-064
Hole V-23-064 is collared in coarse-grained granodiorite within the Valley intrusion roughly 66 m north of the nearest hole, V-22-014 (285.2 m @ 1.45 g/t Au including 128.2 m @ 2.48 g/t Au from surface, see Snowline news release dated November 15, 2022) and 85 m southeast of V-23-039 (553.8 m @ 2.48 g/t Au including 183.3 m @ 4.34 g/t Au from surface, see Snowline news release dated August 3, 2023).
The hole commences in strong, sheeted gold-bearing quartz vein mineralization (Figure 2) from bedrock surface at 3.2 m downhole and continues in predominantly strong mineralization until approximately 188 m downhole, near where the hole intersects a central, valley-parallel fault at 170 m downhole. Quartz vein densities and occurrences of visible gold drop off below the fault, but lower grade mineralization continues until the hole exits the intrusion into hornfels sedimentary rocks 309 m downhole. Multiple gold-bearing quartz vein orientations are present, with a dominant sheeted vein array striking northwest and steeply dipping to the northeast, as commonly seen in the primary mineralized zone at Valley.
Figure 2 – Cross-section B, showing V-23-064 in the context of adjacent holes along or near to the cross section and a simplified, schematic geological model. The upper part of the hole returned consistently high gold grades, demonstrating continuity of strong mineralization through a gap in previous drilling. View looks northwest. Note that hole V-22-014 is located in the foreground of the section, and it exits the intrusion lower in the hole than suggested by its projection onto the geology of the current section. Similarly, V-23-052 is behind the section. See Figure 1 for collar locations in plan view.
Overall, the top 308.8 m downhole from bedrock surface averages 2.15 g/t Au, with an internal interval of 180.3 m averaging 3.23 g/t Au also beginning from surface. Within this, the highest grades are seen at or near surface, with the top 68.3 m downhole averaging 5.03 g/t Au. The presence of such high and consistent gold grades beginning at surface in a large gap in previous drilling further de-risks the mineral system at Valley, demonstrating strong continuity within the well-mineralized zone.
Table 2 – Summary of significant mineralization returned from current holes at Valley. The consistency of strong mineralization on the target is reinforced by the capped values in the rightmost column, wherein any assay result >10 g/t Au is replaced by 10.0 g/t Au to calculate the average interval grades. *Interval widths reported; true widths of the system are not yet known, with different vein generations, orientations, and grade distributions present within various intervals through the bulk tonnage gold target at Valley.
HOLES V-23-062 & V-23-063
Both V-23-062 and V-23-063 from part of a fence of holes across the northwestern part of the well-mineralized, near-surface corridor within the Valley intrusion (Figures 1 & 3). Both holes are collared in coarse grained granodiorite and continue in coarse grained granodiorite, with minor xenoliths and dikes of finer-grained intrusive rock, until exiting into hornfels sedimentary rocks from the southwestern edge of the intrusion.
The two holes exhibit the strongest mineralized intervals seen thus far within that fence, demonstrating the strength and scale of the system in this area. V-23-062 averages 1.41 g/t Au across 417.0 m downhole from bedrock surface (at 4.5 m downhole), with an internal interval of 2.25 g/t Au over 110.0 m, including 3.0 m averaging 16.83 g/t Au. V-23-063 averages 1.59 g/t Au over 342.0 m from bedrock surface (also at 4.5 m downhole), with an internal interval of 2.00 g/t Au over 189.5 m from 21.0 m downhole. Despite localized higher grades in both holes, mineralized intervals are carried by consistently anomalous gold values, as indicated by the high remainder values (excluding higher grade sub-intervals) along with the high capped values (limiting any assay to a maximum of 10 g/t Au) shown in Table 2.
Both V-23-062 and V-23-063 add breadth to the known extent of near-surface >1 g/t Au and > 2 g/t Au mineralization in the northwest part of the Valley gold system, which remains open.
Figure 3 – Cross-section B, showing V-23-062 & V-23-063 in the context of adjacent holes along section and a simplified, schematic geological model. Both holes, drilled as part of a fence across the northwestern part of the Valley target, demonstrates breadth of consistent mineralization perpendicular to the northwest strike of the system in this area. View looks northwest. See Figure 1 for section location.
REGIONAL DRILLING
Cliff Project, Southwest Yukon
Analytical results have been received for an additional two holes from a Phase I drill program at Snowline Gold’s Cliff Project, an orogenic gold project located in the southwestern Yukon. Elevated gold values were present in association with sparse quartz veins in the two holes, but the >1.0 g/t Au assays (up to 6.64 g/t Au over 1.9 m downhole) seen in previous holes from this drill program were not encountered in the current holes. A summary is provided in Table 3.
Table 3 – Summary of mineralization returned from current holes at Snowline’s Cliff Project, an early-stage orogenic gold target located in the southwestern Yukon Territory. Various lesser intervals are present but not listed. *Interval widths reported; true widths have not been determined.
QA/QC
On receipt from the drill site NQ2-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline’s 2023 field camp. Sample lengths as small as 0.5 m were used to isolate features of interest, but most samples within moderate to strong mineralization were 1.0 m in length; otherwise, a default 1.5 m downhole sample length was used. Core was cut in half lengthwise along a pre-determined line, with one half (same half, consistently, dictated by orientation line where present or by dominant vein orientation where absent) collected for analysis and one half stored as a record. Field duplicates were collected at regular intervals as ¼ core samples by splitting the ½ core sent for sampling, leaving a consistent record of half core material from duplicate and non-duplicate samples alike. Standard reference materials and blanks were inserted by Snowline personnel at regular intervals into the sample stream. Bagged samples were sealed with security tags to ensure integrity during transport. They were delivered by expeditor to Bureau Veritas’ preparatory facility in Whitehorse, Yukon. Sample preparation was completed in Whitehorse, with analyses completed in Vancouver.
Similar procedures were employed on the Cliff Project, though drill core was transported to Whitehorse in advance of detailed logging and sampling.
Bureau Veritas is accredited to ISO/IEC 17025 and ISO9001 for quality management. Samples were crushed by BV to >85% passing below 2 mm and split using a riffle splitter. 250 g splits were pulverized to >85% passing below 75 microns. A four-acid digest with an inductively coupled plasma mass spectroscopy (ICP-MS) finish was used for 59-element analysis on 0.25 g sample pulps (BV code: MA250). All samples were analysed for gold content by fire assay with an atomic absorption spectroscopy (AAS) finish on 30 g samples (BV code: FA430). Any sample returning >10 g/t Au was reanalysed by fire assay with a gravimetric finish on a 30 g sample (BV code: FA530).
For the purposes of this release, mineralized intervals are defined as runs of mineralization with no break >5.0 m assaying <0.1 g/t Au, including any subsections thereof.
ERRATA
In compiling previously released drill hole information, the Company noticed typographical errors in the drill hole coordinates reported in news release summary tables for two holes from the 2022 field season, V-22-028 (February 3, 2023 release) and V-22-031 (December 2, 2022 release). For correct UTM coordinates for these collar sites, please refer to the Company’s June 13, 2023 technical report on the Rogue Project. The typos appeared in the news release summary tables only and did not affect locations shown on plan maps nor the cross sections highlighting accompanying the tables in the same news releases.
ABOUT ROGUE
The Valley target on Snowline’s flagship Rogue Project is a newly discovered, bulk tonnage style, reduced intrusion-related gold system (RIRGS), with geological similarities to multi-million-ounce deposits currently in production such as 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-suite 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 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.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering >333,000 ha. The Company is exploring its flagship >94,000 ha Rogue gold project 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’s 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.
Figure 4 – Project location map for Snowline Gold’s eastern Selwyn Basin properties: Rogue, Einarson, Ursa, Cynthia and Olympus. The Valley target is one of several prospective reduced intrusion-related gold targets on the broader 30 x 60 km Rogue Project.
QUALIFIED PERSON
Information in this release has been prepared under supervision of and approved by Thomas K. Branson, M.Sc., P. Geo., VP Exploration of Snowline Gold Corp, as Qualified Person for the purposes of National Instrument 43-101.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain forward-looking statements, including statements regarding the significance of analytical results, the discovery potential within the Valley intrusion, the potential for investors to participate in multiple future discoveries, the Rogue project having district-scale prospectivity, the creation of a new gold district and the Company’s future plans and intentions. 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.
Vancouver, B.C., December 29, 2023: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to provide a summary of key activities and achievements over the past calendar year. The scale and strength of the Valley gold target on the Company’s Rogue Project has quickly come into focus on the back of a safe, productive and efficient 16,000 m drill program at Valley, with clear upside potential both at the target level and the regional scale. All five of five Phase I drill programs completed by the Company in this district on five different targets to date have hit instances of visible gold and zones of anomalous gold mineralization, demonstrating widespread regional fertility. In total, the Company drilled 22,000 m in 2023 across 6 targets. Extensive surface exploration has advanced additional untested targets and led to the identification of new targets. With more than $35M in the treasury, the Company is well positioned for an active and rigorous exploration campaign in 2024 on its >330,000 ha land position in the fertile Selwyn Basin.
Snowline’s top 5 highlights from 2023:
Consistently Strong Results: Drill results from the Valley target consistently show robust grade, scale and continuity of gold mineralization beginning at or near surface, with highlight intervals averaging 2.48 g/t Au over 553.8 m (drill hole V-23-039) and 2.46 g/t Au over 519.6 m (V-23-061)—both from surface; these are the best drill intersections on an interval-by-grade basis that the Company is aware of from any gold project in the history of the Yukon
Positive Metallurgy: Initial metallurgical tests demonstrate high gold recoveries and non-refractory gold mineralization at Valley; recoveries from non-optimized, conventional processing techniques averaged 94.1% (bottle roll cyanidation), 95.4% (flotation) and 95.7% (carbon-in-leach) on 75-micron grinds
Environmental Stewardship: Received the 2023 Robert E. Leckie Award for Excellence in Environmental Stewardship from the Government of Yukon in recognition of the Company’s efforts in early-stage baseline environmental monitoring, renewable energy system installation and use, progressive reclamation of disturbed sites, reclamation of an abandoned exploration camp from the 1990s, and active research for effective, site-specific reclamation strategies for future development
Financial Strength: Raised a total of $35.7M at an average 75% premium to market in two financings, allowing for non-dilutive growth through an increased exploration program
Value Creation: 70% appreciation in share priceto date from January 1, 2023, delivering considerable returns to SGD shareholders for the third consecutive year since Snowline’s launch in 2021 (133% appreciation in 2021, 333% in 2022).
“Our work in 2023 highlights the unique nature of the gold discovery at the Valley target on our Rogue Project,” said Scott Berdahl, CEO & Director of Snowline. “The remarkable consistency and continuity of strong gold values at Valley across hundreds of meters of length, width and depth beginning from surface—with clean, non-refractory mineralization—makes not just for an exciting discovery story, but for a special asset with hallmarks of a system capable of delivering sustainable value to shareholders and to local economies for decades to come. Additional surface work and drilling on other targets suggest strong regional fertility across much of our >3,300 km2 property portfolio and the potential for Valley-style mineralization at multiple other targets within the Rogue Plutonic Complex. I would like to congratulate our entire team on an incredible year, and to thank our investors, service providers, suppliers, consultants and partners who have made this possible and who continue to support us as we advance our targets and grow as a company.”
Additional highlights from 2023 include:
B2Gold’s validation of Snowline’s discovery success, with the former building a 9.9% stake in Snowline during 2023 through a combination of direct investment and on-market equity acquisition
Formal coverage initiated by six independent industry analysts
Institutional ownership growth to over 17% of outstanding shares
Consolidation of the Rogue Plutonic Complex—a highly prospective regional geological feature roughly 30 x 60 km in size defined by a cluster of intrusions with genetic and temporal associations to the Valley intrusion—through direct staking and the purchase of select pre-existing mineral interests
Appointment of Calum Morrison—former CFO of Great Bear Resources (acquired by Kinross in 2022 for C$1.8B) and former CEO of Great Bear Royalties (acquired by Royal Gold in 2022 for C$200M)—to strengthen Snowline’s Board of Directors, and the appointment of Thomas Branson, P.Geo., to VP Exploration
TSX-V listing established to provide exposure to a broader landscape of investors
State-of-the-artdata management system and database developed in-house for efficient real-time data collaboration between multiple projects, camps and field sites
Permanent, year-round office established in Whitehorse, Yukon to facilitate exploration and potential future development of projects
Advancement of all Yukon projects, with extensive geological, geophysical and geochemical surface programs safely and successfully completed in Snowline’s biggest exploration campaign to date, moving new targets towards drill readiness across Snowline’s extensive Yukon exploration portfolio.
Figure 1 – Plan maps of the Valley intrusion showing drill results reported as of year-end 2022 (top) and 2023 (bottom). In just one year, the Company’s understanding of the mineralized system at Valley has increased substantially, with the scale, grade and consistency of the gold mineralization considerably de-risking the target. Note that the two figures use different scales and have use different symbologies for collar locations. Roughly 25% of total drilling from the Valley target in 2023 is still outstanding, with results expected in early Q1 2024.
Figure 2 – Reflected light micrograph of abundant gold grains in V-22-007 at 269.8 m downhole. Gold occurs primarily in its native form, as fine grains along grain boundaries near small clusters of sulphide minerals in quartz veins. This yields non-refractory gold and high gold recoveries from multiple different conventional processing methods, adding flexibility to processing options. Scale bar (bottom right) shows 100 microns, or 0.1 mm. Py=Pyrite (FeS2), Cpy=Chalcopyrite (CuFeS2), Gn=Galena (PbS), Hed=Hedleyite (Bi7Te3), Lil=Lillianite (Pb3Bi2S6).
2024 EXPLORATION PLANS
With a strong treasury, three diamond drills parked on site at Valley and plans to mobilize a fourth drill, Snowline is looking forward to another highly active exploration season in 2024. Through the year, the Company will adhere to its commitment to safe, environmentally sound, and socially responsible exploration, building on its economic engagement within the Yukon and further strengthening lines of communication, engagement and collaboration with First Nations and Yukon communities.
The scale and nature of the 2024 program will be finalized early in the coming year, but the program will have two primary objectives: 1) to advance the Rogue Project’s Valley target, which remains open, both through exploration and through a push towards collecting requisite information for economic assessment and rigorous baseline with a focus on future advanced permitting, and 2) to follow up on promising results from other targets on Rogue and on the Company’s surrounding property positions with the goal of establishing a new gold district.
As of December 2023, the Company is permitted to build and operate a second 50-person camp on site at the Valley target, in additional to its current “Forks” camp 17 km away. Construction of the Valley camp in 2024 will facilitate efficient exploration at Valley and free resources for robust exploration of additional regional targets.
Figure 3 – A subset of Snowline Gold’s 2023 field team, during a morning meeting at the Company’s Forks camp.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering >333,000 ha. The Company is exploring its flagship >94,000 ha Rogue gold project 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’s 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
Information in this release has been prepared under supervision of and approved by Thomas K. Branson, M.Sc., P. Geo., VP Exploration of Snowline Gold Corp, as Qualified Person for the purposes of National Instrument 43-101.
Figure 5 – Project location mapfor Snowline Gold’s eastern Selwyn Basin properties:Rogue, Einarson, Ursa, Cynthia and Olympus. The Valley target is one of several prospective reduced intrusion-related gold targets on the broader 30 x 60 km Rogue Project.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain forward-looking statements, including statements regarding the significance of analytical results, construction of the Valley camp in 2024, future advanced permitting and development activities, the potential for investors to participate in multiple future discoveries, the Rogue project having district-scale prospectivity, the creation of a new gold district and the Company’s future plans and intentions. 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.
Vancouver, B.C., December 22, 2023: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) announces that it has granted a total of 2,470,000 options and 51,825 restricted share units (together, the “Equity Incentive Awards”) to various employees, consultants, directors, and officers of the Company. The Equity Incentive Awards have been granted pursuant to the Company’s Omnibus Incentive Plan and are subject to vesting provisions. The options have an exercise price of $4.92 per share and will expire five years from the date of grant.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering >333,000 ha. The Company is exploring its flagship >94,000 ha Rogue gold project 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’s 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain forward-looking statements, including statements regarding the significance of analytical results, the relationship between vein densities, visible gold and resultant analytical gold grades, cost-effective production of gold, the discovery potential within the Valley intrusion, the potential for investors to participate in multiple future discoveries, the Rogue project having district-scale prospectivity, the creation of a new gold district and the Company’s future plans and intentions. 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.
