Fireweed Metals Corp., a base-metals exploration and development company with critical metals deposits located southeast of Snowline’s flagship projects, has secured up to C$35.4M funding from the Government of Canada and the United States Department of Defense for regional infrastructure studies and project advancement.
Funding of up to C$12.9M from the Government of Canada will support road and power infrastructure planning along the North Canol Road corridor, with potential benefits to the broader minerals district including Snowline’s Valley deposit.
Funding awards dovetail with recent government announcements detailing studies into a Yukon—British Columbia power grid connection, showcasing a forward-looking commitment to responsible infrastructure development for the Yukon.
Vancouver, B.C., December 16, 2024: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) congratulates Fireweed Metals Corp. (“Fireweed”) on securing significant Canadian and United States government funding in support of their critical minerals projects at Macmillan Pass, Yukon Territory, including funding towards regional power infrastructure and road improvements that could benefit multiple groups in the district.
“We are excited about the positive impact that this infrastructure funding could have on the broader minerals district, including Snowline’s flagship assets, and we commend the Fireweed team for their effort and initiative,” said Scott Berdahl, CEO & Director of Snowline. “In recent years, Macmillan Pass and the surrounding Selwyn Basin have demonstrated clear potential towards becoming an important foundation of the Yukon’s economic future and an important contributor of responsibly sourced metals to the North American supply chain. A shared infrastructure corridor could maximize such benefits while minimizing cumulative impacts.
“And while Snowline’s focus remains on our gold exploration targets and our Valley deposit, our mineral claims cover geology prospective for critical minerals, particularly for zinc and tungsten. We see additional potential for critical minerals biproducts from primary gold systems on our claims.”
The funding announced by Fireweed comprises up to C$35.4 million total, including funding of up to C$12.9 million sourced from the Government of Canada’s Critical Minerals Infrastructure Fund (CMIF) that will support road and power infrastructure planning along the North Canol Road corridor. The North Canol Road is a government maintained public road that runs from Ross River to Macmillan Pass, Yukon, roughly 75 km from Snowline’s Valley gold deposit (Figure 1).
From Fireweed’s December 13, 2024 release:
The CMIF funding will support Fireweed’s implementation of the first phase (Phase I) of the “North Canol Infrastructure Improvement Project” (“NCIIP”), which includes developing preliminary designs for approximately 250 kilometers of road improvements, as well as upgrades to an existing transmission line between Faro and Ross River, and the construction of a new transmission line from Ross River to Macmillan Pass. The effort also includes seeking the consent of local Indigenous groups, completing necessary environmental assessment processes and facilitating multi-party project agreements necessary to advance NCIIP toward construction (Phase II).
The balance of the C$35.4 million funding awarded to Fireweed comes from the United States Department of Defense through a grant of up to US$15.8 million (~C$22.5M) for the advancement of Fireweed’s Mactung tungsten deposit towards a final investment decision. Further details on both funding streams are available in Fireweed’s news release.
Figure 1 – Project location map for Snowline’s eastern Selwyn Basin properties (yellow) in the context of Fireweed’s projects. Snowline’s Valley gold deposit is located roughly 75 kilometers from the North Canol Road at Macmillan Pass and roughly 30 km from historical mining roads connected to the Plata Winter Trail.
YUKON ELECTRICAL GRID CONNECTION
In September 2024, the Government of Yukon announced receipt of a C$40M grant, also from the Government of Canada’s Critical Minerals Investment Fund, to assess the feasibility of a grid connection from the Yukon into the existing electrical grid northern British Columbia. Such a connection would link the Yukon to the broader North American electrical grid, expanding available energy for the Yukon while also connecting to potential demand for future Yukon-based power generation. Snowline congratulates the Government of Yukon on this initiative and applauds the forward-looking commitment to responsible infrastructure development for the Yukon.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering roughly 360,000 ha (3,600 km2). The Company is exploring its flagship 111,000 ha (1,110 km2) Rogue 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. The Company’s first-mover position and extensive exploration database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
Since its launch in 2021, Snowline has progressed the Rogue Project’s Valley target from a greenfield prospecting discovery to a significant bulk tonnage gold resource, with 4.05 Moz gold indicated mineral resource at 1.66 g/t Au and an additional 3.26 Moz inferred mineral resource at 1.25 g/t Au within a pit-shell constraint. The resource estimate numbers are supported by the recent technical report for Rogue, prepared in accordance with NI 43-101 standards, entitled “Rogue Gold Project: NI 43-101 Technical Report and Mineral Resource Estimate,” authored by Heather Burrell, P. Geo., Daniel J. Redmond, P. Geo., and Steven C. Haggarty, P. Eng., with an effective date of May 15, 2024.
QUALIFIED PERSON
Information in this release has been prepared under supervision of and approved by J. Scott Berdahl, M.Sc., P. Geo., CEO 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 future of infrastructure development in the region around the Company’s claims, the potential for critical minerals discovery and critical minerals biproducts on the Company’s claims, the discovery potential within the Valley intrusion and on other exploration targets, 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-24-096 returned 1.08 g/t Au over 386.0 m from surface, including 2.00 g/t Au over 120.5 m, locally outperforming the mineral resource estimate block model
Hole V-24-095 returned 604.5 m from surface at 0.65 g/t Au, including 160.5 m at 1.13 g/t Au, with the bottom 189.5 m of interval outside of mineral resource estimate
Assays remain pending for >15,000 m from 38 holes across four targets at Snowline’s Rogue and Einarson projects.
Vancouver, B.C., December 4, 2024: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce additional analytical results from its 2024 Valley deposit drilling campaign on the Rogue Project in Canada’s Yukon Territory alongside updates on regional exploration. Drilling in and around the northwestern part of the Valley deposit (V-24-093, 095 & 097) continues to delineate consistent mineralization within and beyond the limits of the current mineral resource estimate (MRE) for Valley. Towards the northeastern side of the Valley deposit, V-24-096 returned 1.08 g/t Au over 386.0 m from surface, including 2.00 g/t Au over 120.5 m from 139.0 m downhole, outperforming the mineral resource model along its length. The Company awaits analytical results from the majority of its 2024 exploration campaign, including >15,000 m of drilling in 38 holes across four different targets.
Table 1 – Highlight summary of Snowline’s latest assay results; see Table 2 for details. *Interval widths reported.
“Our latest results from Valley continue to advance our goals for the 2024 drilling campaign,” said Scott Berdahl, CEO & Director of Snowline. “They upgrade our confidence in the initial mineral resource estimate, and they expand the physical limits of the mineralized system at Valley as we know it. It is exceptional to see such consistency across batch after batch of analytical results—and a hallmark of a top-tier gold deposit. We look forward to assessing the overall contributions of these results to an updated mineral resource estimate for Valley in 2025.”
VALLEY DRILLING, ROGUE PROJECT
Figure 1 – Plan map of drill results and progress on the Rogue Project’s Valley deposit, highlighting current results in drill holes V-24-093 through V-24-097. Past analytical results are faded, while instances of visible gold in holes awaiting assay are marked by yellow spheres. Drill holes with assays pending (27 holes from Valley) are labelled in blue.
Hole V-24-096
Hole V-24-096 is collared within the Valley intrusion, roughly 53 m northeast of V-23-034 (418.9 m @ 1.9 g/t Au including 216.0 m @ 3.1 g/t Au, see July 5, 2023 news release) and 58 m southeast of V-23-045 (517.9 m @ 1.14 g/t Au from surface, see September 11, 2023 news release). The hole is drilled to the southwest, testing a northeastern extension of strong gold mineralization predicted by the Valley deposit block model.
The hole runs through coarse-grained granodiorite for the top 350 m, at which point it transitions to the fine-grained porphyritic unit with localized intrusive breccias. As is seen elsewhere in the deposit, quartz vein densities are high near the transition between the two units, with higher gold grades in the coarse-grained unit proximal to the porphyritic unit. From 674 m to the end of the hole at 740 m the hole returns to coarse-grained granodiorite with generally low quartz vein densities.
The results of this hole complement those of V-24-077 to its northeast (Figure 2), which also exceeded block model expectations based in the initial Valley MRE. These results are expected to help upgrade and de-risk relevant areas of the initial MRE for Valley. The ultimate effect of this result will be quantified along with analytical results of all subsequent holes in an updated MRE at a later time.
Figure 2 – Cross-section B-B’, showing V-24-096 in the context of the initial Valley MRE block model and MRE-constraining revenue factor 0.72 pit shell. The block model has not been updated to reflect the current results, nor any results to date from 2024 (bold labels). Blocks shown outside of the current pit shell constraint are not included in the initial MRE for Valley. Areas without blocks have not been modelled and were assumed as nil for the initial Valley MRE. Instances of visible gold in holes still awaiting assay results are marked by yellow spheres. The released holes are projected onto the same plane from a total width of roughly 80 m.
Figure 3 – Cross-section A-A’, showing V-24-093, 095 & 097 in the context of the initial Valley MRE block model and MRE-constraining revenue factor 0.72 pit shell. The block model has not been updated to reflect the current results, nor any results to date from 2024. Blocks shown outside of the current pit shell constraint are not included in the initial MRE for Valley. Note the large areas without blocks, which have not been modelled and were assumed as nil for the initial Valley MRE and for calculating pit shell constraints and total waste rock. Instances of visible gold in holes still awaiting assay results are marked by yellow spheres. The released holes are projected onto the same plane from a total width of roughly 140 m, with V-24-097 well in the background—relative positions can be seen in the plan map in Figure 1.
Figure 4 – Relatively coarse native gold as seen in each of the five Valley drill holes reported herein. Gold mineralization at Valley primarily consists of native gold hosted in quartz veins crosscutting the mid Cretaceous Valley intrusion and surrounding sedimentary rocks. Visible gold is common, with tens to hundreds of occurrences per hole consistently observed in well mineralized holes throughout the deposit. Gold often occurs proximal to various minor bismuth and tellurium sulphide minerals and alloys (grey minerals in above figures). As previously disclosed, the nature of this gold mineralization renders it available for high recovery rates from various conventional processing techniques, even in non-oxidized rock, as seen in initial metallurgical tests (94% average bottle roll cyanidation to 96% carbon-in-leach). All images are displayed at the same scale.
Table 2 – Summary of significant mineralization returned from current holes from Valley and other targets. The consistency of strong mineralization in the Valley deposit 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. Holes with prefixes “SY” and “J” are from the Sydney and Jupiter targets on the Cynthia and Einarson projects, respectively. *Interval widths reported; true widths of the system are complex, with different vein generations, orientations, and grade distributions present within various intervals through the bulk tonnage gold target at Valley.
ANNUAL EQUITY INCENTIVE AWARDS
The Company has granted a total of 360,000 restricted share units and 100,000 deferred 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 purpose of these awards is to align and incentivize around ongoing contributions, and to recognize contributions made to the growth of the Company and advancement of its projects by personnel at all levels.
QA/QC
On receipt from the drill site NQ2-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline’s “Forks” 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, contiguous mineralized intervals at Valley are defined as runs of mineralization with no break >5.0 m assaying <0.1 g/t Au and may include any highlight subsections thereof.
ABOUT ROGUE
Snowline Gold’s 100%-owned, flagship Rogue Project, in Canada’s Yukon Territory, covers a 60 x 30 km cluster of intrusions in the eastern Tombstone Gold Belt known as the Rogue Plutonic Complex.
Since its launch in 2021, Snowline has progressed the Rogue Project’s Valley target from a greenfield prospecting discovery to a significant bulk tonnage gold resource, with 4.05 Moz gold indicated mineral resource at 1.66 g/t Au and an additional 3.26 Moz inferred mineral resource at 1.25 g/t Au within a pit-shell constraint. The resource estimate numbers are supported by the recent technical report for Rogue, prepared in accordance with NI 43-101 standards, entitled “Rogue Gold Project: NI 43-101 Technical Report and Mineral Resource Estimate,” authored by Heather Burrell, P. Geo., Daniel J. Redmond, P. Geo., and Steven C. Haggarty, P. Eng., with an effective date of May 15, 2024.
Exploration of the open Valley deposit is ongoing. Valley is a reduced intrusion-related gold system (RIRGS), geologically similar to multi-million-ounce RIRGS deposits currently in production, like Kinross’s Fort Knox Mine in Alaska, but with substantially higher gold grades. 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-series intrusion.
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. For these reasons, Snowline considers the Rogue Project to have district-scale potential to host additional reduced intrusion-related gold systems.
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.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering roughly 360,000 ha (3,600 km2). The Company is exploring its flagship 111,000 ha (1,110 km2) 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. The Company’s first-mover position and extensive exploration 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.
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 significance of visual drill core observations and visible gold, the potential effects of current analytical results on future mineral resource estimates including expansion of the pit shell and de-risking of the current estimate, the discovery potential within the Valley intrusion and on other exploration targets, 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., November 26, 2024: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is honoured to announce its receipt of the 2024 Robert E. Leckie Award for Excellence in Environmental Stewardship from the Government of Yukon. This is the Company’s second consecutive year receiving the award for its environmentally conscious exploration practices in the Yukon Territory, including progressive reclamation of disturbances and ongoing clean-ups of historical third-party exploration and mining sites. In 2024, this included the first phase of a two-phase cleanup of the historical Plata mine staging area.
“We are grateful and excited to receive the Robert E. Leckie Award for Excellence in Environmental Stewardship for our second consecutive year,” said Scott Berdahl, CEO & Director of Snowline. “I would like to thank the awards committee for the recognition, and I would especially like to thank our contractors and other collaborators involved in the first phase of clean-up efforts at Plata, including of course our team at Snowline. This award is a testament to our company’s culture and our commitment to environmentally sound exploration and development. It also demonstrates the important secondary benefits that can stem from sound, robust projects moving forward in the exploration and mining space. We hope to continue building on this legacy as we advance our Valley discovery and ongoing regional exploration.”
Cleanup work at Plata consisted of documenting, inventorying, stockpiling and limited removal of abandoned equipment and materials from historical exploration and mining activity. Small-scale silver mining occurred in the area primarily in the 1980s, with small-scale, high-grade underground operations on the nearby, third-party “Plata” and “Inca” projects. The cleanup was overseen and primarily conducted by Yukon-based contractors Archer Cathro & Associates (1981) Ltd. along with Snowline staff and a local trapline owner and supported by logistical contractors involved in Snowline’s primary exploration activities. Stockpiled materials have been consolidated and prepared for future removal from site along the Plata winter trail (Figure 3). The Plata staging area and airstrip is roughly 8 km west of Snowline’s Rogue Project. It is located on third-party mineral claims.
Additional components of Snowline’s environmental practices include progressive reclamation of drill pads and revegetation test plots, pre-disturbance botanical inventories of key target areas, establishment of seed banks from native, on-site plants for use in revegetation, surface disturbance reduction via aerial drill moves, wildlife surveying, and hydrology and monthly water quality monitoring at 11 sites around the Valley deposit.
The Leckie Award is presented in up to three categories each year, with recognition for socially responsible practices, environmental stewardship, and innovation in mining in Canada’s Yukon Territory. The awards committee comprises representatives from the Council of Yukon First Nations, the Yukon Chamber of Mines, the Klondike Placer Miner’s Association, and the Government of Yukon. The award was presented at the 2024 Yukon Geoscience convention in Whitehorse, Yukon.
Figure 1 – Reclamation of historical Plata staging area for mining, exploration and other activities in the vicinity of Snowline’s Rogue Project. Top: Debris prior to cleanup – remains of a burned-out trapper’s cabin at the site. Middle: Same location following cleanup. Bottom: Abandoned vehicles, mining equipment and other non-combustible debris brought in along the Plata winter trail are inventoried and organized for removal during a planned second phase of the cleanup.
Figure 2 – Snowline representatives at the 2024 Yukon Geoscience awards banquet in Whitehorse, Yukon. From left to right: Zoë Goodyear (Database Manager), Jake Edwards (Geologist), Andy Turner (Exploration Manager), Brian Hegarty (VP Sustainability & External Relations), Steve Rennalls (Director of Operations), Dr. Nicolas Piette-Lauziere (Project Geologist), Scott Berdahl (CEO & Director), Sarah Weber (Independent Director), Dr. Craig Hart (Chair & Independent Director) & Thomas Branson (VP Exploration). Photo by Crystal Schick.
ROBERT E. LECKIE
Robert “Bob” E. Leckie (1957-1999) was a geographer and mining inspector who moved north from Alberta to serve in the Yukon’s Mayo Mining District from 1987 through 1999. His legacy stems from a passion for innovation, collaboration between governments and industry, and the development of progressive land use practices for mining and reclamation.
ABOUT SNOWLINE GOLD CORP. Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering roughly 360,000 ha (3,600 km2). The Company is exploring its flagship 111,000 ha (1,110 km2) Rogue 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. The Company’s first-mover position and extensive exploration database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
Since its launch in 2021, Snowline has progressed the Rogue Project’s Valley target from a greenfield prospecting discovery to a significant bulk tonnage gold resource, with 4.05 Moz gold indicated mineral resource at 1.66 g/t Au and an additional 3.26 Moz inferred mineral resource at 1.25 g/t Au within a pit-shell constraint. The resource estimate numbers are supported by the recent technical report for Rogue, prepared in accordance with NI 43-101 standards, entitled “Rogue Gold Project: NI 43-101 Technical Report and Mineral Resource Estimate,” authored by Heather Burrell, P. Geo., Daniel J. Redmond, P. Geo., and Steven C. Haggarty, P. Eng., with an effective date of May 15, 2024.
Figure 3 – 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. The Plata staging area and airstrip is located at the northern end of the Plata winter trail, which connects to the government maintained North Canol Road.
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 to participate in multiple future discoveries, 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-24-091 returned 1.06 g/t Au over 380.4 m from surface, including 2.00 g/t Au over 51.0 m, pushing known mineralization past the resource boundary
Hole V-24-088 returned 1.40 g/t Au over 219.1 m from surface, including 2.11 g/t Au over 72.0 m, confirming strong mineralization predicted by resource model
500 x 200 m gold & silver anomaly delineated in talus fines at Cynthia, with chip samples across an outcropping dike returning 0.58 g/t Au and 45.3 g/t (1.3 oz/ton) Ag across 8 m width of dike
Assays remain pending for >21,400 m in 37 holes across 5 targets at Snowline’s Rogue and Einarson projects.
Vancouver, B.C., November 12, 2024: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce additional analytical results from its 2024 Valley deposit drilling campaign on the Rogue Project in Canada’s Yukon Territory alongside updates on regional exploration. A fence of drill holes (V-24-088, 090 & 091) across the northwest end of the Valley deposit confirm strong, consistent gold grades from surface, with mineralization extending outside of the current resource constraint. At Cynthia, geochemical samples delineate a 500 x 200 m gold and silver anomaly in talus fines immediately north of an area with limited historical drilling. A continuous chip sample across a mineralized dike yielded 0.58 g/t Au and 45.0 g/t Ag over 8.0 m. The Company awaits analytical results from the majority of its 2024 exploration campaign, including >21,400 m of drilling in 37 holes across five different targets.
Table 1 – Highlight summary of Snowline’s latest assay results; see Table 2 for details. *Interval widths reported; true widths of the system at Valley are not yet known.
“We are encouraged to see results from Valley continuing to live up to the high standards set by the deposit model, in hole after hole—in our view, this is a key hallmark of a high-quality mineral deposit,” said Scott Berdahl, CEO & Director of Snowline. “We are further encouraged by ongoing indications of widespread regional gold fertility across our extensive mineral tenure in the eastern Yukon, evidenced by advancement of yet another greenfield target, on our Cynthia Project, in the broader Rogue Plutonic Complex.”
VALLEY DRILLING, ROGUE PROJECT
Figure 1 – Plan map of drill results and progress on the Rogue Project’s Valley deposit, highlighting current results in drill holes V-24-088 through V-24-092. Past analytical results are faded, while instances of visible gold in holes awaiting assay are marked by yellow spheres. Drill holes with assays pending are labelled in blue.
Hole V-24-088
Hole V-24-088 is collared within the Valley intrusion, roughly 42 m east of V-23-053 and 73 m northwest of V-23-051. The hole is drilled to the southwest, testing a northeastern extension of strong gold mineralization predicted by the Valley deposit block model.
The hole runs through coarse-grained granodiorite for most of its length, with a zone of fine-grained porphyritic granodiorite from roughly 204 m to 223 m downhole, near a brecciated contact with the hornfels sedimentary rock outside of the Valley intrusion. The hole ended at 269.0 m, outside of the Valley intrusion, in weakly mineralized hornfels.
Figure 2 – Cross-section A-A’, showing V-24-088, 090 & 091 in the context of the initial Valley MRE block model and MRE-constraining revenue factor 0.72 pit shell. The block model has not been updated to reflect the current results, nor any results to date from 2024, and blocks shown outside of the current pit shell constraint are not included in the initial MRE for Valley. Instances of visible gold in holes still awaiting assay results are marked by yellow spheres. The released holes are projected onto the same plane from a total width of roughly 160 m, with the lower parts of V-24-090 well in the background—relative positions can be seen in the plan map in Figure 1.
The results of this hole are expected to help upgrade and de-risk relevant areas of the initial mineral resource estimate for Valley. The ultimate effect of this result will be quantified along with analytical results of all subsequent holes in an updated mineral resource estimate at a later time.
Table 2 – Summary of significant mineralization returned from current holes from Valley and other targets. The consistency of strong mineralization in the Valley deposit 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. Holes with prefixes “RE” and “J” are from the Reid and Jupiter targets on the Rogue and Einarson projects, respectively. *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.
INTERSECTION TARGET, CYNTHIA
Contour soil and talus fine sampling on the Cynthia project revealed a 500 m x 200 m gold and silver anomaly north of and contiguous with the “Intersection” target, marked on surface by widespread clay alteration and associated oxidation. Of 28 talus fine samples taken in this area, 16 (57%) returned >0.1 g/t Au, to a maximum of 0.52 g/t Au & 28.5 g/t Ag (average 0.19 g/t Au, 5.7 g/t Ag). Roughly 400 m to the east of the anomaly, on the opposite site of a ridge, 6 of 7 additional talus fines returned >0.1 g/t Au (maximum 0.52 g/t Au, average 0.24 g/t Au). A mineralized fine-grained felsic dike cutting through the anomaly was chip sampled in one outcrop across its width, averaging 0.58 g/t Au and 45.0 g/t Ag over 8.0 m in 8 contiguous 1 m samples. The dike runs at least 500 m and is estimated to average between 5 and 8 m in width (Figure 4).
Figure 3 – Widespread alteration north of the Intersection target, sampled in 2024 by talus fine sampling, which revealed a 500 x 200 m zone of anomalous gold and silver values. Chip sampling across an 8 m wide dike and into surrounding hornfels exposed in outcrop (near middle of photograph) averaged 0.58 g/t Au and 45.0 g/t Ag.
Limited, historical drilling was conducted in 2010 to the south of this anomaly by a previous operator, at Cynthia’s Intersection target. Discontinuous zones of anomalous gold mineralization were encountered, and the drilling did not intersect the mineralized dikes. No subsequent investigation was conducted.
Figure 4 – Plan map of the intersection zone, with current sampling shown in yellow and exposed intrusive rocks shown in pink. Historical rock and soil samples are shown in grey, with approximate locations, at the same grade/size and shape scales used for Snowline’s samples. Continuous outcrop chip sample gold grades are labelled in the inset.
QA/QC
On receipt from the drill site NQ2-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline’s “Forks” 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, contiguous mineralized intervals at Valley are defined as runs of mineralization with no break >5.0 m assaying <0.1 g/t Au and may include any highlight subsections thereof.
ABOUT ROGUE
Snowline Gold’s 100%-owned, flagship Rogue Project, in Canada’s Yukon Territory, covers a 60 x 30 km cluster of intrusions in the eastern Tombstone Gold Belt known as the Rogue Plutonic Complex.
Since its launch in 2021, Snowline has progressed the Rogue Project’s Valley target from a greenfield prospecting discovery to a significant bulk tonnage gold resource, with 4.05 Moz gold indicated mineral resource at 1.66 g/t Au and an additional 3.26 Moz inferred mineral resource at 1.25 g/t Au within a pit-shell constraint. The resource estimate numbers are supported by the recent technical report for Rogue, prepared in accordance with NI 43-101 standards, entitled “Rogue Gold Project: NI 43-101 Technical Report and Mineral Resource Estimate,” authored by Heather Burrell, P. Geo., Daniel J. Redmond, P. Geo., and Steven C. Haggarty, P. Eng., with an effective date of May 15, 2024.
Exploration of the open Valley system is ongoing. Valley is a reduced intrusion-related gold system (RIRGS), geologically similar to multi-million-ounce RIRGS deposits currently in production, like Kinross’s Fort Knox Mine in Alaska, but with substantially higher gold grades. 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-series intrusion.
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. For these reasons, Snowline considers the Rogue Project to have district-scale potential to host additional reduced intrusion-related gold systems.
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. The Plata staging area is located at the northern end of the Plata winter trail, which connects to the government maintained North Canol Road.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering roughly 360,000 ha (3,600 km2). The Company is exploring its flagship 111,000 ha (1,110 km2) 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. The Company’s first-mover position and extensive exploration 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.
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 significance of visual drill core observations and visible gold, the potential effects of current analytical results on future mineral resource estimates including expansion of the pit shell and de-risking of the current estimate, the discovery potential within the Valley intrusion and on other exploration targets, 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-24-081 returned 2.10 g/t Au over 433.5 m, including 3.42 g/t Au over 96.5 m and 3.20 g/t Au over 50.5 m, bolstering scale of high-grade, near-surface gold mineralization at Snowline’s Valley deposit, Rogue Project
Hole V-24-084 returned 1.31 g/t Au over 273.2 m, including 2.18 g/t Au over 120.7 m from surface, surpassing mineral resource estimate block model expectations near the southeastern part of the Valley deposit
Phase I reclamation work completed by Snowline at historical “Plata” staging area, southwest of the Rogue Project, which supported 1980s mining activity in the area from the Plata winter trail
Assays remain pending for >24,600 m in 45 holes across 6 targets at Snowline’s Rogue and Einarson projects.
Vancouver, B.C., October 10, 2024: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce additional analytical results from its 2024 Valley deposit drilling campaign on the Rogue Project in Canada’s Yukon Territory alongside updates on its regional activities. Holes V-24-081 and V-24-084 returned strong, consistent gold grades from near surface along the southwestern edge of the Valley deposit, outperforming the model used for the Company’s initial mineral resource estimate (MRE) earlier this year. In addition, Snowline has completed the first phase of a reclamation program at the Plata mining camp near the Rogue Project, organizing and inventorying debris and abandoned equipment from historical mining activities in the region for future demobilisation. The Company awaits analytical results from the majority of its 2024 exploration campaign, including >24,600 m of drilling in 44 holes across 5 different targets.
Table 1 – Highlight summary of Snowline’s latest assay results; see Table 2 for details. *Interval widths reported; true widths of the system at Valley are not yet known.
“It is a testament to the consistency of mineralization at Valley that results like today’s have become almost commonplace,” said Scott Berdahl, CEO & Director of Snowline. “Nonetheless, they further demonstrate the strength of the system near surface, and key holes V-24-081 and V-24-084 outperform our model along the southwest margin of the deposit.
“We are also pleased to report completion of the first stage of a meaningful side project – the cleanup of the historical Plata staging area, which supported small-scale mining efforts in the region in the early 1980s. We would like to thank Honey Badger Silver Inc. and Archer, Cathro & Associates for their assistance in these efforts. This work builds on Snowline’s commitment to contribute to a lasting positive legacy for mining in the Yukon.”
VALLEY DRILLING, ROGUE PROJECT
Roughly 25,000 m have been drilled at Valley in 55 holes in 2024 (Figure 1) – nearly double the amount of drilling (27,911 m) used to inform the Company’s initial MRE for Valley. Trace instances of visible gold and widespread sheeted quartz vein arrays have been observed both within and beyond the confines of the MRE. The Company awaits full assay results from the 2024 drill campaign to assess the significance of these observations and their impact on the deposit.
Figure 1 – Plan map of drill results and progress on the Rogue Project’s Valley deposit, highlighting current results in drill holes V-24-081 through V-24-087. Past analytical results are faded, while instances of visible gold in holes awaiting assay are marked by yellow spheres. Drill holes with assays pending are labelled in blue.
Hole V-24-081
Hole V-24-081 is collared within the Valley intrusion, roughly 42 m east of V-23-053 and 73 m northwest of V-23-051. The hole is drilled to the northeast, as opposed to the more common southwest orientation at Valley, to more effectively test local near-surface mineralization and to get information from gaps in drilling at depth.
The hole runs through coarse-grained granodiorite for most of its length, with a zone of fine-grained porphyritic granodiorite from roughly 336 m to 446 m downhole containing xenoliths of granodiorite, hornfels and chert. A total of 121 instances of visible gold were noted along the length of the hole during logging.
Figure 2 – Cross-section A-A’, showing V-24-081 in the context of the initial Valley MRE block model and MRE-constraining revenue factor 0.72 pit shell. The block model has not been updated to reflect the current results, nor any results to date from 2024, and blocks shown outside of the current pit shell constraint are not included in the initial MRE for Valley. Instances of visible gold in holes still awaiting assay results are marked by yellow spheres. The released holes are projected onto the same plane from a total width of roughly 50 m—relative positions can be seen in the plan map in Figure 1.
The results of this hole are expected to help upgrade and de-risk relevant areas of the initial mineral resource estimate for Valley. Notably, the hole redefines the local, near-surface southwest boundary of the intrusion, as the previous geological model (used to inform the initial MRE at Valley) suggested V-24-081 would have collared into hornfels. The ultimate effect of this result will be quantified along with analytical results of all subsequent holes in an updated mineral resource estimate at a later time.
Table 2 – Summary of significant mineralization returned from current holes on the Rogue Project. The consistency of strong mineralization in the deposit 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.
PLATA SITE CLEANUP
In September, Snowline completed the first phase of a site cleanup program at the historical Plata staging area. Work consisted of documenting, inventorying, stockpiling and limited removal of abandoned equipment and materials from historical exploration and mining activity related to mining in the area primarily in the 1980s, which included small scale underground silver mining. Stockpiled materials have been consolidated and prepared for future removal from site.
The Plata staging area is located along an airstrip at the north end of the Plata winter trail (Figure 4) roughly 8 km west of Snowline’s Rogue Project. The site is strategically located, and Snowline has used the staging area in the past to support its own operations.
Figure 3 – Reclamation of historical Plata staging area for mining, exploration and other activities in the vicinity of Snowline’s Rogue Project. Top: Debris prior to cleanup – remains of a burned-out trapper’s cabin at the site. Middle: Same location following cleanup. Bottom: Abandoned vehicles, mining equipment and other non-combustible debris brought in along the Plata winter trail are inventoried and organized for removal during a planned second phase of the cleanup.
QA/QC
On receipt from the drill site NQ2-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline’s “Forks” 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, contiguous mineralized intervals at Valley are defined as runs of mineralization with no break >5.0 m assaying <0.1 g/t Au and may include any highlight subsections thereof.
ABOUT ROGUE
Snowline Gold’s 100%-owned, flagship Rogue Project, in Canada’s Yukon Territory, covers a 60 x 30 km cluster of intrusions in the eastern Tombstone Gold Belt known as the Rogue Plutonic Complex.
Since its launch in 2021, Snowline has progressed the Rogue Project’s Valley target from a greenfield prospecting discovery to a significant bulk tonnage gold resource, with 4.05 Moz gold indicated mineral resource at 1.66 g/t Au and an additional 3.26 Moz inferred mineral resource at 1.25 g/t Au within a pit-shell constraint. The resource estimate numbers are supported by the recent technical report for Rogue, prepared in accordance with NI 43-101 standards, entitled “Rogue Gold Project: NI 43-101 Technical Report and Mineral Resource Estimate,” authored by Heather Burrell, P. Geo., Daniel J. Redmond, P. Geo., and Steven C. Haggarty, P. Eng., with an effective date of May 15, 2024.
Exploration of the open Valley system is ongoing. Valley is a reduced intrusion-related gold system (RIRGS), geologically similar to multi-million-ounce RIRGS deposits currently in production, like Kinross’s Fort Knox Mine in Alaska, but with substantially higher gold grades. 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-series intrusion.
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. For these reasons, Snowline considers the Rogue Project to have district-scale potential to host 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 roughly 360,000 ha (3,600 km2). The Company is exploring its flagship 111,000 ha (1,110 km2) 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. The Company’s first-mover position and extensive exploration 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. The Plata staging area is located at the northern end of the Plata winter trail, which connects to the government maintained North Canol Road.
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 significance of visual drill core observations and visible gold, the potential effects of current analytical results on future mineral resource estimates including expansion of the pit shell and de-risking of the current estimate, the discovery potential within the Valley intrusion and on other exploration targets, 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-24-078 returned 4.05 g/t Au over 244.9 m from surface, including 5.99 g/t Au over 101.0 m, emphasizing strong continuity of high-grade, near-surface gold mineralization at Snowline’s Valley deposit, Rogue Project
“Charlotte” target is a newly discovered reduced intrusion-related gold system on the Rogue Project in and around an elongate 1.6 x 0.3 km intrusion, with selective grab samples up to 28.4 g/t Au
“Galatea” target hosts a 1.3 km quartz-carbonate boulder train found along 12 km structural corridor between Jupiter and Avalanche Creek, Einarson Project, with grab samples to 6.11 g/t Au
Assays pending for >22,500 m across 7 targets, with drilling ongoing.
Vancouver, B.C., September 10, 2024: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce additional analytical results from its 2024 Valley deposit drilling campaign on the Rogue Project in Canada’s Yukon Territory alongside updates on its regional exploration campaign. Hole V-24-078 returned some of the highest sustained grades seen at the deposit to date (Table 1). Additional holes from Valley carry long intervals from surface in the southeastern part of the Valley deposit. Outside of Valley, Snowline’s regional exploration team has discovered two promising new grassroots gold targets, Charlotte and Galatea, on the Rogue and Einarson Projects respectively. Drilling is ongoing at Valley and on the Jupiter target, Einarson Project, with assays pending for an additional 22,500 m drilled to date.
Table 1 –Highlight summary of Snowline’s latest assay results; see Table 2 for details. *Interval widths reported; true widths of the system at Valley are not yet known.
“The breadth, consistency and grade of near-surface gold mineralization at Valley continue to impress us,” said Scott Berdahl, CEO & Director of Snowline. “V-24-078 has set another very high bar, carrying an average grade of over 4 grams per tonne gold over 244.9 metres from surface, with a sustained run of 101.0 m averaging 6.0 g/t Au, while holes from the southeast and northwest parts of the deposit show good near-surface continuity and grades.
“In addition, our regional exploration team continues to turn up exciting new prospects on our underexplored, >3,600 km2 tenure, including a new reduced-intrusion related gold system. That we are still finding potentially significant new mineralized systems on surface in our fourth exploration season in this area is a testament to the scale and the fertility of the district.”
VALLEY DRILLING, ROGUE PROJECT
Drilling at the Rogue Project’s Valley deposit is ongoing, with four drills now active on the deposit. To date, roughly 20,400 m have been drilled at Valley in 46 holes in 2024 (Figure 1). Trace instances of visible gold and widespread sheeted quartz vein arrays have been observed both within and beyond the confines of the current, initial MRE for Valley. The Company awaits full assay results from the ongoing drill campaign to assess the significance of these observations and their impact on the MRE.
Figure 1 – Plan map of drill results and progress on the Rogue Project’s Valley deposit, highlighting current results in drill holes V-24-078 through V-24-080. Past analytical results are faded, while instances of visible gold in holes awaiting assay are marked by yellow spheres. Drill holes with assays pending are labelled in blue.
Hole V-24-078
Hole V-24-078 is collared within the Valley intrusion, from the pad site of V-24-076 (212.4 m @ 1.11 g/t Au, including 66.9 m @ 2.02 g/t Au from surface, see Snowline news release dated August 29, 2024) but drilled in the opposite direction to test a void in drill data within the Valley deposit (Figure 1). The nearest previous holes are V-23-048 (265.2 m @ 2.20 g/t Au, including 100.2 m @ 3.28 g/t Au from surface, see Snowline news release dated September 11, 2023), collared roughly 50 m to the north-northeast, and 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), collared roughly 65 m to the east-southeast, with both previous holes drilled to the southwest and ending outside of the intrusion.
V-24-078 runs predominantly in the main, coarse-grained granodioritic phase of the Valley intrusion throughout its length. Quart vein densities are consistently moderate to high for the top of the hole, dropping off to low (<4 v/m) for the remainder of the hole after a series of faults at approximately 230 m downhole.
Figure 2 – Cross-section A-A’, showing V-24-078 in the context of the initial Valley MRE block model and MRE-constraining revenue factor 0.72 pit shell. The block model has not been updated to reflect the current results, nor any results to date from 2024 (recent results from V-24-076 and 077 highlighted for context), and blocks shown outside of the current pit shell constraint are not included in the initial MRE for Valley. Instances of visible gold in holes still awaiting assay results are marked by yellow spheres. The released holes are projected onto the same plane from a total width of roughly 100 m—relative positions can be seen in the plan map in Figure 1.
The hole begins with a strong intersection of gold mineralization, averaging 4.05 g/t over the top 244.9 m from bedrock surface at 8.2 m downhole. Grades increase somewhat from 80.5 m downhole, averaging 5.99 g/t Au over the next 101.0 m, marking highest gold grade over a >100 m interval seen at Valley to date (including when assays are capped at 10.0 g/t Au, for a capped interval grade of 5.49 g/t Au—see Table 2). Below this highlight section, three separate but proximal intervals carry grades averaging between 0.28 and 0.39 g/t Au to the end of the hole at 407.0 m.
The results of this hole are expected to help upgrade and de-risk relevant areas of the initial mineral resource estimate for Valley. The ultimate effect of this result will be quantified along with analytical results of all subsequent holes in an updated mineral resource estimate at a later time.
Table 2 – Summary of significant mineralization returned from current holes on the Rogue Project. The consistency of strong mineralization in the deposit 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. Holes with a “CU” prefix are from the Cujo target, roughly 30 km west of Valley (Figure 6) *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.
Figure 3 – Instances of relatively coarse visible gold in quartz veins intersected in V-24-078 at 59.5 m and 219.7 m downhole. With visible gold noted in 269 separate quartz veins along the hole (first instance at 5.5 m downhole, last instance at 405.1 m downhole), V-24-078 has more instances of visible gold than any other hole drilled to date at Valley. Gold is present in at least three distinct quartz vein generations in the hole.
EXPLORATION UPDATES
Snowline currently has one drill rig active on the Jupiter target, and regional field teams advancing multiple additional targets. More than 8,900 m have been completed in regional drilling to date across 6 targets outside of Valley. Assays are still pending for roughly 7,000 m from these regional targets, namely: Aurelius (5 holes) and Reid (1 hole) on the Rogue Project, Sydney (3 holes) on the Cynthia Project, and Jupiter (8 holes) and Avalanche Creek (2 holes) on the Einarson Project.
Charlotte Target, Rogue Project
“Charlotte” is a newly discovered reduced intrusion-related gold system (RIRGS) on the Rogue Project, roughly 15 km southeast of Valley. The target covers a multiphase, elongate granodiorite pluton exposed across roughly 1.6 km x 300 m, roughly corresponding to a kilometre-scale resistive feature identified by aerial electromagnetic surveying (Figure 4), similar in scale and nature to the geophysical anomaly previously identified at Valley.
Figure 4 – Selective grab samples from the Charlotte target, along with the main intrusive body and an adjacent dike shown in yellow. Background colours show the results of an aerial electromagnetic survey, with cooler colours denoting zones of higher resistivity commonly associated with units of the Rogue Plutonic Complex, including the Valley intrusion.
Multiple generations of quartz veins, including sheeted quartz-arsenopyrite veins, are present within and proximal to the intrusion at Charlotte. Of 95 rock grab samples collected from the target area, 25 returned > 1 g/t Au, averaging 4.49 g/t Au up to a maximum of 28.4 g/t Au. Such samples are selective in nature, but they nonetheless demonstrate gold fertility of this RIRGS across a large area. A program of soil and talus fine samples in contour soil lines has been completed in the target area, which will assist in future targeting. Analysitcal results for these samples are still pending.
Galatea Target, Einarson Project
“Galatea” is a new epizonal orogenic target on Snowline’s 100% owned Einarson Project, located along the N-S structural corridor between the Jupiter target (roughly 7 km north) and Avalanche Creek (roughly 5 km south). At Galatea, a 1.3 km long float train of quartz carbonate vein material was observed along a stream drainage (Figure 5). Of 12 rock grab samples taken, 6 returned >1 g/t Au, averaging 3.34 g/t Au with a maximum of 6.11 g/t Au. A follow-up soil sampling program consisting of seven contour lines totalling 8 km will be completed to further delineate the mineralization. This new target demonstrates the fertility of this >12 km structural corridor and the prospectivity of adjacent, parallel structures in the area.
Figure 5 – The Galatea float train in the context of surrounding geology, with rock samples shown as golden triangles. Certain rock samples peripheral to the mineralized float train were sampled by previous property operators in 2012 in search of Carlin-style mineralization. Inset photos show mineralization texture (middle, 4.31 g/t Au), with arsenopyrite and pyrite hosted in bulky quartz with ankerite, and float train appearance (bottom right, 6.11 g/t Au), with large boulders of vein material present, consistent with the surface discoveries at Jupiter and Avalanche Creek, both of which lie along the same >12 km structural corridor.
QA/QC
On receipt from the drill site NQ2-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline’s “Forks” 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, contiguous mineralized intervals at Valley are defined as runs of mineralization with no break >5.0 m assaying <0.1 g/t Au and may include any highlight subsections thereof.
ABOUT ROGUE
Snowline Gold’s 100%-owned, flagship Rogue Project, in Canada’s Yukon Territory, covers a 60 x 30 km cluster of intrusions in the eastern Tombstone Gold Belt known as the Rogue Plutonic Complex.
Since its launch in 2021, Snowline has progressed the Rogue Project’s Valley target from a greenfield prospecting discovery to a significant bulk tonnage gold resource, with 4.05 Moz gold indicated mineral resource at 1.66 g/t Au and an additional 3.26 Moz inferred mineral resource at 1.25 g/t Au within a pit-shell constraint. The resource estimate numbers are supported by the recent technical report for Rogue, prepared in accordance with NI 43-101 standards, entitled “Rogue Gold Project: NI 43-101 Technical Report and Mineral Resource Estimate,” authored by Heather Burrell, P. Geo., Daniel J. Redmond, P. Geo., and Steven C. Haggarty, P. Eng., with an effective date of May 15, 2024.
Exploration of the open Valley system is ongoing. Valley is a reduced intrusion-related gold system (RIRGS), geologically similar to multi-million-ounce RIRGS deposits currently in production, like Kinross’s Fort Knox Mine in Alaska, but with substantially higher gold grades. 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-series intrusion.
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. For these reasons, Snowline considers the Rogue Project to have district-scale potential to host 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 roughly 360,000 ha (3,600 km2). The Company is exploring its flagship 111,000 ha (1,110 km2) 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. The Company’s first-mover position and extensive exploration database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
Figure 6 – 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 significance of visual drill core observations and visible gold, the potential effects of current analytical results on future mineral resource estimates including expansion of the pit shell and de-risking of the current estimate, the discovery potential within the Valley intrusion and on other exploration targets, 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-24-077, along the northeast boundary of Valley’s current mineral resource estimate, averaged 1.61 g/t Au over435.0 m, including 2.39 g/t Au over 150.5 m
On Snowline’s Jupiter target, Einarson Project, Hole J-24-022 returned 6.88 g/t Au over 6.3 m, including 13.9 g/t Au over 2.0 m downhole, along with other mineralized intersections in 170 m step-back from previous drilling
Trace amounts of visible gold seen in regional drilling at Aurelius target, Rogue Project and Sydney target, Cynthia Project
Assays pending for >21,000 m across 7 targets, with drilling ongoing.
Vancouver, B.C., August 29, 2024: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce additional analytical results from its 2024 Valley deposit drilling campaign on the Rogue Project in Canada’s Yukon Territory, along with the first drill results from its Jupiter target, Einarson Project, since consolidation of 100% ownership of Einarson earlier this year. Highlight intervals from Valley and Jupiter are summarized in Table 1 below. The results from V-24-077 at Valley are near the northeastern edge of the current resource-limiting pit shell constraint for the initial mineral resource estimate (MRE) at Valley, confirming continuity of strong gold grades to the edge of the current resource, open to further expansion. At the Einarson Project’s epizonal orogenic Jupiter target, roughly 32 km north of Valley, multiple zones of gold mineralization were encountered in a 170 m step-back from previous drilling, increasing the known width of the system. Drilling is ongoing at Valley and on other targets, with assays pending for an additional 21,278 m drilled to date.
Table 1 – Highlight summary of Snowline’s latest assay results; see Tables 2 and 3 for details. *Interval widths reported; true widths of the system at Valley are not yet known. Interval width at Jupiter is estimated to be roughly 50% of true width.
“We are pleased to advance our flagship district on multiple fronts,” said Scott Berdahl, CEO & Director of Snowline. “At Valley, drilling continues to de-risk and potentially grow our initial mineral resource estimate with holes expanding the footprint of near surface, >1 g/t Au gold mineralization. At Jupiter, our step-outs are hitting encouraging zones of gold mineralization within large areas of alteration and pathfinder minerals. Elsewhere, our regional exploration and drilling is ongoing, with drill results still pending from six regional targets outside of Valley this year.”
VALLEY DRILLING, ROGUE PROJECT
Drilling at the Rogue Project’s Valley deposit is ongoing, with three drills currently active on the deposit. To date, roughly 17,400 m have been drilled at Valley in 37 holes in 2024 (Figure 1). Trace instances of visible gold and widespread sheeted quartz vein arrays have been observed both within and beyond the confines of the current, initial MRE for Valley. The Company awaits full assay results from the ongoing drill campaign to assess the significance of these observations and their impact on the MRE.
Figure 1 – Plan map of drill results and progress on the Rogue Project’s Valley deposit, highlighting current results in drill holes V-24-076 and V-24-077. Past analytical results are faded, while instances of visible gold in holes awaiting assay are marked by yellow spheres.
Hole V-24-077
Hole V-24-077 is collared within the Valley intrusion, as a 140 m step back along section from V-23-034 (418.3 m @ 1.88 g/t Au from surface including 216.0 m @ 3.08 g/t Au, see Snowline news release dated July 5, 2023) (Figures 1 & 2). The nearest holes are V-23-045 (517.9 m @ 1.14 g/t Au from surface including 125.5 m @ 1.75 g/t Au, see Snowline news release dated September 11, 2023) at 84 m to the west and V-22-015 (442.0 m @ 0.65 g/t Au including 170.0 m @ 1.18 g/t Au, see Snowline news release dated December 22, 2022) at 72 m to the south.
V-24-077 tests material along the edge of the block model used for the initial Valley MRE and along the edge of the current revenue factor 0.72 pit shell used to constrain that MRE. The hole remains primarily in coarse-grained granodiorite, the dominant phase of the intrusion, until roughly 400 m downhole, at which point it transitions into a fine-grained porphyritic phase of the intrusion with zones of igneous breccia.
Figure 2 – Cross-section A-A’, showing V-24-076 and 077 in the context of the initial Valley MRE block model and MRE-constraining revenue factor 0.72 pit shell. The block model has not been updated to reflect the current results, and blocks shown outside of the current pit shell constraint are not included in the initial MRE for Valley. Instances of visible gold in holes awaiting assay results are marked by yellow spheres. The released holes are projected onto the same plane from a total width of roughly 100 m—relative positions can be seen in the plan map in Figure 1. Hole V-24-077 is collared as a 140 m step-back from V-23-034, to assess strength and continuity at the edge of the current model and to potentially expand it.
The hole begins with two intersections of lower grade mineralization (54.0 m averaging 0.37 g/t Au from bedrock surface at 6.0 m downhole and 37.5 m averaging 0.46 g/t Au from 76.5 m downhole) before hitting a sustained run of 435.0 m averaging 1.61 g/t Au from 120 m downhole until the end of the hole at 555.0 m, including a higher-grade interval of 2.39 g/t Au over 150.5 m beginning at 206.5 m downhole. Zones of higher grades include 7.62 g/t Au over 20.0 m (including 35.7 g/t Au over 1.5 m) from 239.0 m downhole (Table 2).
The results are expected to expand the limit of the current block model and to expand the extent of above cut-off (>0.4 g/t Au) and higher-grade domains. The ultimate effect of this result will be quantified along with analytical results of all subsequent holes in an updated mineral resource estimate at a later time.
Table 2 – Summary of significant mineralization returned from current holes at Valley. The consistency of strong mineralization in the deposit 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.
EXPLORATION UPDATES
Figure 3 – Visible gold in AU-24-003, Aurelius target, Rogue Project, at 344.0 m downhole.The trace occurrence was noticed after core cutting for sampling, and it is in a vein hosting pyrrhotite, bismuth-lead sulphides, pyrite and chalcopyrite. Assays for AU-24-003 and all holes at Aurelius are pending, with drilling at the target ongoing.
Snowline currently has two drill rigs active on regional targets: one active on an expanded Phase I drill program on the Rogue Project’s Aurelius target, the other completing the first ever drill testing of the Einarson Project’s Avalanche Creek orogenic gold target. Assays are currently pending for more than 8,100 m drilled on regional targets outside of Valley, namely: Aurelius (4 holes), Cujo (3 holes) and Reid (1 hole) on the Rogue Project, Sydney (3 holes) on the Cynthia Project, and Jupiter (6 holes) and Avalanche Creek (2 holes) on the Einarson Project.
Jupiter Target, Einarson Project
At Jupiter, assays have been received for the first two holes drilled in 2024. Both holes encountered elevated to anomalous (>1 g/t Au, to a high of 13.9 g/t Au over 2.0 m in J-22-024) gold mineralization, expanding the width and depth of the known mineralized system at Jupiter (Table 3).
Hole J-24-022 was drilled as a 170 m step-back from J-21-015 (3.6 m @ 13.7 g/t Au, including 0.95 m @ 25.2 g/t Au, see Snowline news release dated November 18, 2021). It encountered 3 primary zones of mineralization. The upper zone, averaging 3.50 g/t Au over 3.7 m, is interpreted as a new mineralized structural corridor subparallel to mineralization encountered in 2021. The lower two zones, including an interval of 6.87 g/t Au over 6.3 m downhole, along with mineralization seen in J-24-023, extend to depth the mineralized corridor encountered in 2021 (Figure 4). Assays for an additional 2,444 m in 6 holes from the Jupiter target are pending.
Figure 4 – Simplified schematic geological map (left) and cross section (right) of the Jupiter target, showing the locations of six of the eight holes drilled to date in 2024. Note the multiple structures identified, expanding the breadth of the Jupiter system, and the additional high grade gold values down dip. “Mineralization” denotes areas of patchy, veinlet-hosted and/or disseminated sulphides in vein wall rocks. The system remains open in all directions, with only 1.2 km of strike length partially drill tested to date within a broader 3 km zone of elevated (>10 ppb Au) to anomalous (>50 ppb Au) soil geochemistry.
Table 3 – Summary of significant mineralization from current holes at the Jupiter target, Einarson Project.
Sydney Target, Cynthia Project
A 3-hole, 1,344 m Phase I drilling program has recently been completed at the Sydney target, Cynthia Project, representing the first-ever drill testing of the recently delineated RIRGS target located south of Rogue, near the Plata winter trail. Widespread sheeted quartz veins are present in all three holes, with low to high vein densities (Figure 6) and at least two distinct vein generations. Veins appear to have a higher sulphide content than those at Valley. Six instances of visible gold, from two separate holes, were noted during core logging, which is ongoing. Assays for all holes at Sydney are pending.
Figure 5 – Instances of visible gold in SY-24-003, Sydney target, Cynthia Project, at 106.3 m, 152.8 m and 177.8 m downhole.As with mineralization at Valley, gold is present in sheeted quartz veins as native gold. At Cynthia visible gold occurrences are spatially associated with bismuthinite and molybdenite. Three different veins throughout the 458.1 m length of SY-24-003 were observed to host trace visible gold. Assays for SY-24-003 and all holes at Sydney are pending.
Figure 6 – Plan map of drill traces from Phase I drilling at the Cynthia Project’s Sydney target, showing vein densities and instances of visible gold. Assays for all three holes at Sydney are pending.
ANNUAL GENERAL MEETING RESULTS
The Company held its Annual General Meeting (AGM) on August 27, 2024. Shareholders voted in favour of all items of business before the AGM, including the election of all director nominees, the appointment of the auditor, and re-approval of the Omnibus Incentive Plan.
QA/QC
On receipt from the drill site NQ2-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline’s “Forks” 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, contiguous mineralized intervals at Valley are defined as runs of mineralization with no break >5.0 m assaying <0.1 g/t Au, including any subsections thereof.
ABOUT ROGUE
Snowline Gold’s 100%-owned, flagship Rogue Project, in Canada’s Yukon Territory, covers a 60 x 30 km cluster of intrusions in the eastern Tombstone Gold Belt known as the Rogue Plutonic Complex.
Since its launch in 2021, Snowline has progressed the Rogue Project’s Valley target from a greenfield prospecting discovery to a significant bulk tonnage gold resource, with 4.05 Moz gold indicated mineral resource at 1.66 g/t Au and an additional 3.26 Moz inferred mineral resource at 1.25 g/t Au within a pit-shell constraint. The resource estimate numbers are supported by the recent technical report for Rogue, prepared in accordance with NI 43-101 standards, entitled “Rogue Gold Project: NI 43-101 Technical Report and Mineral Resource Estimate,” authored by Heather Burrell, P. Geo., Daniel J. Redmond, P. Geo., and Steven C. Haggarty, P. Eng., with an effective date of May 15, 2024.
Exploration of the open Valley system is ongoing. Valley is a reduced intrusion-related gold system (RIRGS), geologically similar to multi-million-ounce RIRGS deposits currently in production, like Kinross’s Fort Knox Mine in Alaska, but with substantially higher gold grades. 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-series intrusion.
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. For these reasons, Snowline considers the Rogue Project to have district-scale potential to host 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 roughly 360,000 ha (3,600 km2). The Company is exploring its flagship 111,000 ha (1,110 km2) 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. The Company’s first-mover position and extensive exploration database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
Figure 7 – 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 significance of visual drill core observations and visible gold, the potential effects of current analytical results on future mineral resource estimates including expansion of the pit shell and de-risking of the current estimate, the discovery potential within the Valley intrusion and on other exploration targets, 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-23-075, drilled at 180 degrees to recent highlight hole V-23-072, returned 471.6 m averaging 2.38 g/t Au, including 302.1 m of 3.20 g/t Au from surface,surpassing initial Valley deposit MRE block model grade predictions by +9%
Hole V-23-073 returned 325.0 m averaging 2.57 /t Au, including 136.0 m averaging 4.84 g/t Au from surface, slightly outperforming the model near surface
Widespread alteration and associated oxide + sulphide mineralization along with granodiorite dikes seen in first-ever drilling of Aurelius target, Rogue Project
Updated NI 43-101 technical report filed for Snowline’s Einarson Project, Yukon.
Vancouver, B.C., August 7, 2024: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce analytical results from additional early-season drill holes on its 2024 exploration campaign and to provide an exploration update from its ongoing 5-drill program in Canada’s Yukon Territory. Highlight intervals from the Valley deposit are summarized in Table 1 below. Holes V-24-075 and V-24-073 are the third and fourth highest ranking holes in terms of contained gold from the Valley deposit to date, with V-24-075 exceeding projections based on the initial mineral resource estimate (MRE) by 9% within the resource-limiting pit shell and by 140% outside of it (18% overall). At the Rogue Project’s Aurelius target, widespread alteration with oxide and sulphide mineralization is present in volcanic and sedimentary rocks, with granodiorite dikes intersected in two holes in the first ever drill testing of the target. Drilling is ongoing at Valley and on other targets, with assays pending for an additional 15,600 m drilled to date.
Table 1 –Highlight summary of Snowline’s latest assay results. Note that the headline interval for V-24-075 comprises two intervals separated by 7 m zone of <0.1 g/t Au; see Table 2 for details. *Interval widths reported; true widths of the system are not yet known.
“We had extremely high expectations for these latest holes at Valley, and they did not disappoint,” said Scott Berdahl, CEO & Director of Snowline. “Based on the block model from our initial mineral resource estimate, we would expect a run of 448 m averaging 2.1 g/t Au for hole V-24-075. We meaningfully exceeded this target in both length and grade, with the hole averaging 2.38 g/t Au over the top 471.6 m from bedrock surface, and with an internal interval of 6.48 g/t Au over 22.0 m from 160.0 m downhole exceeding the grade of anything we had predicted. The results exceed the block model most dramatically outside of the current resource estimate boundary. We expect that this demonstration of robust continuity and of viability in our modelling will assist with de-risking and upgrading mineralization, and it could potentially help to expand our resource-limiting pit shell, pending additional results from our ongoing drilling at Valley.”
VALLEY DRILLING, ROGUE PROJECT
Drilling at the Rogue Project’s Valley deposit is ongoing. To date, roughly 13,600 m have been drilled at Valley in 28 holes in 2024 (Figure 1). Trace instances of visible gold and sheeted quartz vein arrays have been observed both within and beyond the confines of the current, initial MRE for Valley. The Company awaits additional assay results from the ongoing drill campaign to assess the significance of these observations and their impact on the MRE.
Figure 1 – Plan map of drill results and progress on the Rogue Project’s Valley deposit, highlighting current results in drill holes V-24-073 through V-24-075. Past analytical results are faded, while instances of visible gold in holes awaiting assay are marked by yellow spheres.
Hole V-24-075
Hole V-24-075 is collared within the Valley intrusion, from the same location as recent hole V-24-072 (404.8 m @ 2.27 g/t Au including 100.8 m @4.67 g/t Au from bedrock surface, see Snowline news release dated July 24, 2024) but in the opposite direction—to the northeast instead of the southwest (Figure 2). The hole was drilled in this orientation to provide infill in its upper portions and exploration along the northeast margin of the system in its lower portions. It remains primarily in coarse-grained granodiorite, the dominant phase of the intrusion, for the length of the hole.
Figure 2 – Cross-section A-A’, showing V-24-073 through 075 in the context of the initial Valley MRE block model and MRE-constraining revenue factor 0.72 pit shell. The block model has not been updated to reflect the current results, and blocks shown outside of the current pit shell constraint are not included in the initial MRE for Valley. Instances of visible gold in holes awaiting assay results are marked by yellow spheres. The released holes are projected onto the same plane from a total width of roughly 100 m—relative positions can be seen in the plan map in Figure 1. Hole V-24-074 is collared as a 200 m step-back from V-23-045, to assess block model data voids.
The hole averages 2.38 g/t Au over 471.6 m, with the top 302.1 m continuous interval from bedrock surface (at 3.0 m downhole) averaging 3.20 g/t Au. Within this, a 22.0 m interval from 160.0 m downhole averages 6.48 g/t Au. Gold grade continuity is a primary feature of the hole, and as with many holes drilled at Valley, the highest grades are near surface. Owing to this consistency, applying a 10 g/t Au cut-off has a limited effect on results, with the top 302.1 m interval only dropping 2.6% from 3.20 g/t Au to 3.12 g/t Au overall (Table 2).
In weighting observed grades by sample distance—effectively the amount of gold contained within the drill core—versus that predicted for the hole by the Company’s initial mineral resource estimate, the results outperform the MRE by 18% overall, and by 9% within the top 322 m downhole from bedrock surface. V-24-075 exits the current MRE pit-constraint at approximately 322 m downhole, and thus all mineralization below this point, including 152.5 m of the 163.5 m downhole interval averaging 0.94 g/t from 311.0 m downhole (Table 2) are outside of the space considered in the present, initial MRE, outperforming the block model for this area by 140%. The ultimate effect of this result will be quantified along with analytical results of all subsequent holes in an updated mineral resource estimate at a later time.
Figure 3 – Mineralization in V-24-075. Quartz carbonate veins cut through relatively unaltered granodiorite. Orange and blue flags denote observations of trace visible gold within the drill core, with the gold itself hosted in the veins. The 8.0 m downhole interval shown from 117.0 m to 125.0 m downhole averages 6.56 g/t Au. While such grades are among higher values for the hole (see Table 2), the image is representative of mineralization throughout the hole and across much of the rest of the Valley gold deposit, with a higher abundance of veins generally corresponding to higher gold grades.
Figure 4 – Select instances of visible gold in V-24-075, at 33.3 m, 228.5m and 418.2 m downhole.As with other holes at Valley, gold is present in V-24-075 within multiple generations of quartz veins, occurring primarily as native gold and commonly associated with trace to minor bismuthinite. 221 different veins throughout the 485.0 m length of V-24-075 were observed to host trace visible gold.
Hole V-24-073
Hole V-24-073 is also collared in the Valley intrusion, as just the second hole in a new 50 m “fence” across the Valley deposit. It is located 54 m from and nearly on strike with V-23-039 (553.8 m @ 2.48 g/t Au from surface including 132.0 m @ 4.98 g/t Au, see Snowline news release dated August 3, 2023). The only other complete, non-metallurgical hole currently on section with V-24-073 is V-23-066 (383.0 m @ 2.00 g/t Au including 107.5 m @ 3.95 g/t Au from surface, see Snowline news release dated January 15, 2024), collared roughly 64 m to the northeast. (A PQ-sized metallurgical hole was drilled from the collar site of V-23-066 late in the 2023 field season.) The hole begins in the high-grade, near surface zone of gold mineralization and ends at 647.0 m shortly after exiting the intrusion through a 49.0 m zone of dikes and intrusive breccia into surrounding hornfels from 568 m to 617.0 m downhole.
The first continuously mineralized interval in V-24-073 averages 2.57 g/t Au over 325.0 m, including 136.0 m at 4.84 g/t Au from bedrock surface at 2.0 m downhole, with a 33.0 m stretch of mineralization averaging 7.08 g/t Au from 55.5 m downhole (Table 2). This high grade, near surface zone is consistent with those seen in surrounding holes, demonstrating strong continuity of multiple gram-per-tonne gold mineralization within this high-level zone at Valley. The top 584.0 m of the hole from bedrock surface, including barren intervals, averages 1.68 g/t Au.
Table 2 – Summary of significant mineralization returned from current holes at Valley. The consistency of strong mineralization in the deposit 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. V-24-073A was aborted at 49.5 m downhole due to an incorrect dip and was redrilled as V-24-073 from the same location. Note that the headline interval for V-24-075 is a combination of two separate mineralized intervals separated by a small (6 m) gap below <0.1 g/t Au. *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.
EXPLORATION UPDATES
Snowline currently has three drill rigs active on regional targets in the vicinity of Valley: one each on the Rogue Project’s reduced intrusion-related gold system (RIRGS) Reid and Sydney targets, and one on the Einarson Project’s Jupiter orogenic gold target. To date in 2024, 1,184 m has been drilled in 3 holes at Aurelius and 2,407 m has been drilled in 6 holes at Jupiter, while Phase II drilling has recently commenced at Reid and Phase I drilling is scheduled to begin imminently at Sydney. Including the 1,067 m, 3-hole Phase II program completed earlier in the season at Cujo, assays are currently pending for more than 4,600 m on regional targets.
Aurelius Target, Rogue Project
A 3-hole, 1,184 Phase I drilling program has recently been completed at the Aurelius target, representing the first-ever drill testing of the recently delineated target. Widespread clay and silica alteration and zones of brecciation cemented by pyrite and minor chalcopyrite are present in drill holes at Aurelius, along with strong, pervasive oxidation to roughly 70 m vertical depth (Figure 8).
At Aurelius, a thick unit of lapilli tuff appears to be a receptive host to fluids thought to be associated with an RIRGS system. Zones of mineralization observed in drill holes correspond in alteration style and host rock lithology to the mineralized trenches reported from the Aurelius target earlier this year (see Snowline news release dated February 20, 2024). Of note, holes AU-24-001 and AU-24-003 also encountered metre-scale granodiorite dikes with equigranular and porphyritic textures.
Assays for all holes (1,184 m) at Aurelius are pending. The drill rig is currently mobilizing for the first-ever drill testing of the Sydney RIRGS target on the Company’s 100% owned Cynthia Project, south of the Rogue Project (Figure 7). A follow-up Phase II drill program at the Aurelius target may follow later in 2024, pending analytical results from the current drilling.
Figure 5 – Plan map of drill traces from Phase I drilling at the Rogue Project’s Aurelius target, plotted on geology, geochemistry, and high-resolution shaded surface relief. The location of this figure within the broader Aurelius target geochemical anomaly can be seen in Figure 6.
Figure 6 – Plan map of surface geochemistry at the Rogue Project’s Aurelius target, highlighting the scale and intensity of the open-ended anomaly that is interpreted as an upper level of a RIRGS. The 2024 Phase I drill program is located within the blue square, as detailed in Figure 5.
Figure 7 – Hydrothermal breccia in AU-24-002, at roughly 220 m downhole (the interval for this instance of the breccia texture is 211 to 224 m, true width unclear). The breccia is cemented by fine dark pyrite with weak chalcopyrite along with variably silicified rock flour, with fragments of lapilli tuff, volcanic sandstone and silica-altered rock.
Figure 8 – Oxide mineralization in AU-24-001, from 46.6 to 59.3 m downhole, showing hydrothermal crackle breccia with goethite cement, angular fragments of silicified and strongly muscovite-altered lapilli tuff and volcanic sedimentary rocks, continuing into lapilli tuff with silica-dickite alteration. Traces of bismuthinite have been observed in partially oxidized sulphide veins.
EINARSON PROJECT TECHNICAL REPORT
The Company has filed an updated technical report for its Einarson Project. The report, entitled “NI 43-101 Technical Report on the Einarson Gold Project” with an effective date of May 24, 2024, is prepared in accordance with National Instrument 43-101: Standards of Disclosure for Mineral Projects (NI 43-101) standards. The report can be found under the Company’s profile on SEDAR+ and on the Company’s website (snowlinegold.com).
QA/QC
On receipt from the drill site NQ2-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline’s “Forks” 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, contiguous 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 headline interval in V-24-075 (471.6 m of 2.38 g/t Au) is a composite of two intervals with an intervening 6 m gap of <0.1 g/t Au material, as seen in Table 2.
ABOUT ROGUE
Snowline Gold’s 100%-owned Rogue Project, in Canada’s Yukon Territory, covers a 60 x 30 km cluster of intrusions in the eastern Tombstone Gold Belt known as the Rogue Plutonic Complex.
Since its launch in 2021, Snowline has progressed the Rogue Project’s Valley target from a greenfield prospecting discovery to a significant bulk tonnage gold resource, with 4.05 Moz gold indicated mineral resource at 1.66 g/t Au and an additional 3.26 Moz inferred mineral resource at 1.25 g/t Au within a pit-shell constraint. The resource estimate numbers are supported by the recent technical report for Rogue, prepared in accordance with NI 43-101 standards, entitled “Rogue Gold Project: NI 43-101 Technical Report and Mineral Resource Estimate,” authored by Heather Burrell, P. Geo., Daniel J. Redmond, P. Geo., and Steven C. Haggarty, P. Eng., with an effective date of May 15, 2024.
Exploration of the open Valley system is ongoing. Valley is a reduced intrusion-related gold system (RIRGS), geologically similar to multi-million-ounce RIRGS deposits currently in production, like Kinross’s Fort Knox Mine in Alaska, but with substantially higher gold grades. 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-series intrusion.
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. For these reasons, Snowline considers the Rogue Project to have district-scale potential to host 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 roughly 360,000 ha (3,600 km2). The Company is exploring its flagship 111,000 ha (1,110 km2) 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. The Company’s first-mover position and extensive exploration database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
Figure 9 – 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 significance of visual drill core observations, the potential effects of current analytical results on future mineral resource estimates, the discovery potential within the Valley intrusion and on other exploration targets, 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., July 31, 2024: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce that it has filed an updated Technical Report for its Rogue Project, located in the eastern Selwyn Basin in the Yukon Territory, Canada.
The updated Technical Report for Rogue, entitled “Rogue Gold Project: NI 43-101 Technical Report and Mineral Resource Estimate” with an effective date of May 15, 2024, is prepared in accordance with National Instrument 43-101: Standards of Disclosure for Mineral Projects (NI 43-101) standards and supports initial mineral resource estimate disclosures on the Company’s Valley deposit made in its June 17, 2024, news release.
The report can be found under the Company’s profile on SEDAR+ and on the Company’s website (snowlinegold.com).
EXPLORATION UPDATE
To date, the Company has drilled over 16,000 m as part of its 25,000+ m planned drill program for 2024, with 5 drill rigs active and drilling ongoing. Three drills are active on the Valley target, with roughly 12,500 m drilled at Valley this season, while a fourth drill has completed roughly 2,000 m of a planned 4,000 m program at the Jupiter target on the Einarson Project. The fifth drill has completed a three-hole, 1,067 m Phase II program at the Rogue Project’s Cujo target and is now drilling at the Aurelius target, where it has completed over 400 m in one completed hole and is currently drilling a second hole of a planned 1,000 m Phase I program. Target locations are highlighted in Figure 1.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering roughly 360,000 ha (3,600 km2). The Company is exploring its flagship 111,000 ha (1,110 km2) Rogue gold project along with its nearby 101,000 ha (1,010 km2) Einarson gold project in the highly prospective yet underexplored Selwyn Basin, with an active, ongoing 5-drill program in 2024. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits. The Company’s first-mover position and extensive exploration 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.
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 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.
