Vancouver, B.C., May 5, 2023: SNOWLINE GOLD CORP. (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to congratulate Dr. Craig Hart, Snowline’s Chair, for his receipt of the 2023 J.C. Sproule Northern Exploration Award from the Canadian Institute of Mining, Metallurgy and Petroleum (CIM). The J.C. Sproule Award is presented annually to an individual or team “in recognition of eminent achievement or distinguished contributions to the exploration and development of Canada’s mineral resources in the northern regions.” The award was presented on May 3 at the CIM Convention in Montreal, Canada.
“On behalf of Snowline’s team and our board, I would like to congratulate Craig on this recognition of the significant contributions he has made to mineral exploration, both here in the Yukon and beyond,” said Scott Berdahl, Snowline’s CEO & Director. “Our thanks are due as well—prior to the creation of Snowline, Craig’s (then third party) research into reduced intrusion-related gold systems was a direct driving factor in the identification and early progression of the Rogue Project. Since Snowline’s launch, his input at the board level and his mentorship of our technical team have proven invaluable to our corporate growth and our exploration successes. We are fortunate to have Craig in our corner and thrilled to see this broader recognition of the strong positive impact he has had on our industry.”
Figure 1 – Snowline Chair Dr. Craig Hart (left) and Chief Geologist Sergio Gamonal (right) on site at the Valley discovery on Snowline Gold’s Rogue Project, Yukon.
Dr. Hart was a founding member of the Yukon Geological Survey (YGS), where he worked on regional mapping projects and characterized numerous mineral occurrences and discoveries across the Yukon. While at the YGS, he developed the reduced intrusion-related gold system (RIRGS) deposit model that characterizes mineral deposits such as Kinross’ “Fort Knox” in Alaska, Victoria Gold’s “Eagle” in the Yukon, and most recently Snowline’s “Valley,” also in the Yukon. After his work at the YGS, as a senior research fellow at the University of Western Australia and as the Director of the University of British Columbia’s Mineral Deposit Research Unit, Dr. Hart researched and oversaw research efforts on a wide range of deposit styles and geological settings on six continents, alongside collaborators from both industry and academia.
Dr. Hart holds a PhD in Geology from the University of Western Australia, an MSc in Geology from the University of British Columbia, and a BSc in Geology from McMaster University. Long before his involvement in RIRGS systems, coincidentally, Hart completed his undergraduate honours thesis project mapping what is now Snowline Gold’s “Old Cabin” target on the Rogue Project.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering >280,000 ha. The Company is exploring its flagship >137,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox Mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. The Company’s first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
QUALIFIED PERSON
Information in this release has been prepared under supervision of and approved by J. Scott Berdahl, M.Sc., P. Geo., CEO and Director for Snowline and a Qualified Person for the purposes of National Instrument 43-101.
ON BEHALF OF THE BOARD
Scott Berdahl CEO & Director
For further information, please contact: Snowline Gold Corp. +1 778 650 5485 info@snowlinegold.com
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.
Snowline has initiated process to list on the TSX-V to offer enhanced value for existing shareholders by raising the company’s profile and to provide greater exposure to domestic and global markets
C$14.2M exploration program is planned for Rogue in 2023, with the dual objectives of advancing the Valley discovery and making additional drill discoveries on high-priority intrusion-related gold targets
Snowline will complete an updated NI 43-101 technical report on its Rogue project in Yukon, Canada within 120 days of listing as part of the listing process
This news release contains a summary of material results and work completed since the latest NI 43-101 technical document in December 2020.
Vancouver, B.C., May 2, 2023: SNOWLINE GOLD CORP. (CSE: SGD) (OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to announce approval to list on the TSX Venture Exchange (the “TSX-V”) following satisfaction of regulatory requirements. The common shares of the Company will be de-listed from the Canadian Securities Exchange at the close on Wednesday, May 3rd and commence trading on the TSX-V under the symbol SGD at the open on Thursday, May 4th. The move is set to improve Company visibility to domestic and international capital markets, providing a means of expanding its investor base and further realising the value of the gold discoveries within Snowline’s Yukon Territory property portfolio.
“We are looking forward to working with the TSX-V and a broader community of potential investors as our company continues to grow,” said Matt Roma, Snowline’s CFO. “In addition, we would like to thank the Canadian Securities Exchange for providing a superb foundation for our efficient launch along with the market platform that allowed us to make Snowline what it is today.”
As part of the TSX-V listing requirements, Snowline will complete an updated NI 43-101 technical report on its Rogue project in the Yukon, Canada within 120 days of listing. The most recent technical report on the property (Effective date: December 10, 2020) was written prior to the creation of Snowline through a reverse takeover arrangement that secured ownership of Rogue and other Yukon properties. Since commencement of trading on the Canadian Securities Exchange as SGD on March 1, 2021, Snowline has significantly grown and advanced Rogue on the back of a major gold discovery, which will be detailed in the updated technical report. Later in this release, Snowline provides a summary of relevant activities completed to date.
ROGUE PROJECT – 2023 EXPLORATION PLANS AND BUDGET
Snowline is preparing for a 15,000+ metre drill program for the 2023 field season at Rogue. Three drills are currently winterized at Valley zone on the Rogue property. The company plans to initiate drilling near the end of May and to have all three drills turning by early June. Approximately 10,000+ metres will be allocated to a Phase III drill program advancing the geological understanding of Valley and further delineating the at-surface, high-grade (1 g/t Au to > 4 g/t Au) zone encountered in the 2022 drill campaign, while testing, where practical, for potential extensions of the high-grade gold system at depth. Another 2,000+ metres are allocated to a Phase II drill program at Gracie, with the goals of locating the Gracie intrusion and consistent gold mineralization within it. The remaining 3,000+ metres of drilling are allocated to Phase I drill programs at targets Snowline deems to have strong geological merit to host strong zones of mineralization. Reduced-intrusion related gold systems often occur in clusters, and the Company has identified multiple targets of this type in the vicinity of Valley. The drilling amounts above may be subject to refinement based on exploration results as the season progresses.
Regional stream sediment and extensive soil sampling will be initiated in early June to assess targets acquired through property expansions since inception. This early start will provide time during the field season for follow-up and potential Phase I drilling on areas with promising results.
Large-scale and target-scale geophysical programs are also proposed for the 2023 field season, building on Snowline and historical datasets that have proven useful in highlighting alteration, structures and intrusive bodies in exploration at Rogue to date.
Ongoing environmental baseline studies at Valley and on the broader Rogue project will continue and will be complemented by progressive reclamation of work sites.
The planned allocation of funds for the 2023 exploration program at Rogue is as follows:
Additional work, including Phase I drilling, is planned on other Snowline projects outside of Rogue during the 2023 season. Details will be outlined in a future release.
WORK COMPLETED AT ROGUE SINCE MOST RECENT NI 43-101 TECHNICAL DOCUMENT
“What we have accomplished as a team in two short field seasons at Rogue is nothing short of remarkable,” said Thomas Branson, Snowline’s Vice President of Exploration. “Through Snowline’s brand of principled, values-driven exploration, we advanced a set of prospecting discoveries and a regional conceptual model to the drill discovery and partial delineation of a significant greenfields gold discovery. We will continue to add to our understanding of Rogue’s Valley discovery and the broader Rogue project with the dual goals of expanding on our known discoveries at Rogue and making additional discoveries. As the 2023 field season approaches, we are gearing up for an active and exciting year with at least three drills turning and plenty of boots on the ground.”
Staking
Significantly increased the physical footprint of our 100%-owned Rogue Project in 2021 and 2022 from 121 claims covering about 2,439 ha to 2,547 claims covering approximately 52,396 ha, a >2,100% increase in project size since Snowline’s inception.
2021 Field Season
Drilling of four diamond drill holes for 804 m at Valley, resulting in the drill discovery of the Valley reduced intrusion related gold system (RIRGS) with downhole intersections including 1.25 g/t Au over 168.7 m (V-21-003; see Snowline news release dated February 10, 2022) near the edge of a newly recognized, kilometer-scale Fort Knox-style intrusion
Application for and receipt of Class 1 and Class 3 Quartz Mining Land Use permits for Rogue and surrounding projects
Collection of high-resolution drone magnetic survey data, with a total of 410.9 line-km covering an area of 10.4 km2.over the Valley intrusion which delineated the Valley intrusion and identified crosscutting, northwest-trending structures that may play a role in the distribution of gold mineralization
Collection of 1,523 soil samples primarily at the Valley and Gracie zones, with a 5.1 km gold (Au)-in-soil anomaly with coincident bismuth (Bi)-tellurium (Te) anomalism at Gracie (Snowline news release dated April 7, 2022), as well as anomalous Au-Bi-Te geochemistry results from above the Valley intrusion, which helped guide drilling efforts in both 2021 and 2022
Geological mapping and collection of 174 rock samples primarily at Valley
Collection of Unmanned Aerial Vehicle (UAV) photogrammetry over the Valley, Gracie and Old Cabin areas for geological mapping and desktop studies.
2022 Field Season
Drilling of 32 diamond drill holes for 13,320 m, with 11,868 m in 27 holes at Valley and 2,152 m in 5 holes at Gracie
Construction of 50-person Forks Camp to support exploration activities on Rogue, Einarson and additional nearby prospects
Extension of Forks airstrip to 1,000 m in length following amendment of Class 3 Quartz Mining Land Use Permit
Collection of 136 rock samples across the Rogue project
Collection of UAV photogrammetry over the Old Cabin and LM targets to provide high resolution (cm-scale) base maps for geological mapping and desktop studies
Airborne magnetics and radiometric surveys conducted over Valley-Gracie-LM (809 line km), Old Cabin (769 line km) and Ramsey (738 line km) for a total of 2,316 line km over an area of 208.1 km2 providing insights on the distribution of hornfels alteration caused by intrusive bodies
Collection of 357 soil samples
Geological mapping at Gracie, LM, Old Cabin and Ramsey zones on the Rogue Property
Commencement of environmental survey work at Valley including monthly water quality monitoring, hydrology, pre-disturbance botanical inventories and wildlife surveying, providing a baseline of knowledge for future advanced stage permitting
Mineral studies through 51 petrographic sections and selected SEM mineralogical characterization
Initiation of metallurgical test work.
Table 1 highlights drill assay results from 36 holes (31 at Valley, 5 at Gracie) completed by Snowline during the 2021 and 2022 field seasons at the Rogue Project, Yukon. Results are considered preliminary, with full updates, including the use of metallic screen analyses (the optimum method when visible gold is present), where analysed, available in the technical report. The results are not expected to materially change. Many of the drill holes targeted and intersected a wide, through-going and deep corridor of sheeted quartz vein Au-Bi-Te mineralization within the Valley intrusion. Unusually high gold grades for an RIRGS were intersected from surface, such as 2.55 g/t Au over 318.8 m including 4.14 g/t Au over 108 m in V-22-010 (see Snowline news release dated October 12, 2022). These intersections exhibit a high degree of gold grade continuity within and between holes.
Figure 1 – 2021 and 2022 drilling at the Valley Zone, showing drill hole locations relative to the intrusion and preliminary analytical results. Drilling to date has revealed the presence of a large zone within the broader Valley intrusion with high densities of gold-bearing quartz veins. Initial analytical results for this zone consistently carry unusually high grades for a reduced intrusion-related gold system.
Table 1 (part 1 of 2) – Preliminary highlight summary of Snowline’s latest assay results. From/To widths are rounded, so Interval widths reported exhibit higher accuracy. *Downhole Interval widths are reported since true widths of the system are not definitively known.
Table 1 (part 2 of 2) – Preliminary highlight summary of Snowline’s latest assay results. From/To widths are rounded, so Interval widths reported exhibit higher accuracy. *Downhole Interval widths are reported since true widths of the system are not definitively known.
ABOUT ROGUE
Rogue’s Valley Zone is a newly discovered, bulk tonnage style, reduced intrusion-related gold system (RIRGS), with geological similarities to multi-million-ounce deposits currently in production like Kinross’s Fort Knox Mine in Alaska and Victoria Gold’s Eagle Mine in the Yukon. Early drill results demonstrate unusually high gold grades for such a system, present near surface across drill intersections of hundreds of metres. Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays within and along the margins of a one-kilometer-scale, mid-Cretaceous aged Mayo-series intrusion. Valley is an early-stage exploration project without a resource estimate, and while initial results are encouraging, the presence or absence of an economically viable orebody cannot be determined until significant additional work is completed.
The Rogue Project area hosts multiple intrusions similar to Valley along with widespread gold anomalism in stream sediment, soil and rock samples. Elsewhere, RIRGS deposits are known to occur in clusters. The Rogue Project is thus considered by the Company to have district-scale potential for additional reduced intrusion-related gold systems.
Figure 2 – Project location map for Snowline Gold’s eastern Selwyn Basin properties. To date, Snowline has only drilled three targets out of more than 30 identified by the Company across its district-scale exploration portfolio.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering >280,000 ha. The Company is exploring its flagship >137,000 ha Rogue and Einarson gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox Mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. The Company’s first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
QUALIFIED PERSON
The technical information in this news release has been reviewed by Jean Pautler, P.Geo., a qualified person as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD
Scott Berdahl CEO & Director
For further information, please contact: Snowline Gold Corp. +1 778 650 5485 info@snowlinegold.com
This news release contains certain forward-looking statements, including statements about the expected date on which the Company’s common shares will be listed on the TSX-V, the Company’s past results and plans for exploring and expanding a new greenfield, district-scale gold system. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things: risks related to uncertainties inherent in drill results and the estimation of mineral resources; and risks associated with executing the Company’s plans and intentions. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
Vancouver, B.C. – March 28, 2023 – Snowline Gold Corp. (CSE: SGD) (OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to announce that it has completed its non-brokered private placement of 3,941,048 flow-through common shares of the Company (the “FT Shares”) at a price of C$4.862 per FT Share for aggregate gross proceeds of C$19,161,375.38 (the “Offering”) and strategic investment by B2Gold Corp. (TSX: BTO, NYSE American: BTG, NSX: B2G) (“B2Gold”) announced on March 14, 2023.
The Offering was structured as a charity donation arrangement pursuant to which B2Gold acquired 3,941,048 common shares of the Company. The common shares purchased by B2Gold, combined with 3,000,000 common shares of the Company recently acquired by B2Gold on the open market, represent a total position of approximately 5.0% of the issued and outstanding common shares of the Company upon completion of the Offering. Concurrently with the closing of the Offering, the Company and B2Gold entered into an investor rights agreement pursuant to which B2Gold has been granted a right to maintain its pro rata interest in the Company in connection with future equity financings.
The gross proceeds from the issue and sale of the FT Shares will be used to support advancement of exploration on the Company’s Yukon Territory mineral properties, which will qualify as “Canadian Exploration Expenses” and “flow-through mining expenditures”, as those terms are defined in the Income Tax Act (Canada), which will be renounced to the initial purchasers of the FT Shares with an effective date no later than December 31, 2023.
All securities issued in connection with the Offering are subject to a hold period of four months and one day from the closing of the Offering, in accordance with applicable Canadian securities laws, expiring on July 29, 2023.
No finder’s fees have been nor will be paid in connection with the Offering.
The securities issued under the Offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and were not to be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering >280,000 ha. The Company is exploring its flagship >137,000 ha Rogue and Einarson gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox Mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. The Company’s first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
This news release contains certain forward-looking statements, including statements regarding the granting of a right to B2Gold to maintain its pro rata interest in the Company, the anticipated use of proceeds from the Offering 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 risks, 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 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.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
Vancouver, B.C. – March 14, 2023 – Snowline Gold Corp. (CSE: SGD) (OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to announce that B2Gold Corp. (TSX: BTO, NYSE American: BTG, NSX: B2G) (“B2Gold”) has agreed to complete a strategic investment into the Company. B2Gold will be the purchaser of common shares of the Company on the back end of an initial non-brokered flow-through private placement arranged by Snowline. Pursuant to the initial non-brokered private placement, up to 3,941,048 flow-through common shares of the Company (the “FT Shares”) will be issued at a price of C$4.862 per FT Share for aggregate gross proceeds to the Company of up to C$19,161,375 (the “Offering”).
“We are excited to welcome B2Gold as a growth-focused, long-term, value-driven investor,” said Scott Berdahl, CEO & Director of Snowline. “B2Gold is a major global gold producer with a strong track record of growth built on a demonstrated commitment to communities, sustainable mining and employee safety. Their interest in Snowline is a sound endorsement of the company we are building along with the quality and geological potential of our assets.”
Clive Johnson, President & CEO of B2Gold added, “We’d like to commend the Snowline Exploration and Management teams for their strong exploration work conducted thus far across their large mineral tenure in the Selwyn Basin. Their highly prospective land portfolio boasts district-scale, untapped greenfield potential, and we believe their Valley Discovery to be one of the more significant discoveries in Canada in recent history. We have great respect for what Snowline has achieved and look forward to following the progress of their exceptional team moving forward.”
The gross proceeds from the issue and sale of the FT Shares will be used to support advancement of exploration on the Company’s Yukon Territory mineral properties, which will qualify as “Canadian Exploration Expenses” and “flow-through mining expenditures”, as those terms are defined in the Income Tax Act (Canada), which will be renounced to the initial purchasers of the FT Shares with an effective date no later than December 31, 2023.
The common shares to be purchased by B2Gold on the back end of the private placement, combined with 3,000,000 common shares of the Company recently acquired by B2Gold on the open market, will represent a total position of approximately 5.0% of the issued and outstanding common shares of the Company upon completion of the Offering. B2Gold will be granted a right to maintain their pro rata ownership of up to 5.0% in connection with future equity financings as well as following the exercise of convertible securities of the Company.
It is expected that the closing of the Offering will occur on or about March 28, 2023, and closing is subject to the satisfaction of certain conditions, including receipt of acceptance of the Canadian Securities Exchange. All securities issued in connection with the Offering will be subject to a hold period of four months and one day from the date of closing, in accordance with applicable Canadian securities laws.
The securities issued under the Offering have not been and will not be registered under the U.S.Securities Act of 1933, as amended, and were not to be offered or sold in the United States absentregistration or an applicable exemption from the registration requirements. This news release shall notconstitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securitiesin the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seventeen-project portfolio covering >280,000 ha. The Company is exploring its flagship >137,000 ha Rogue and Einarson gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox Mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. The Company’s first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
This news release contains certain forward-looking statements, including statements regarding the anticipated use of proceeds from the Offering, the Company having a highly prospective land portfolio boasting district-scale, untapped greenfield potential, and B2Gold’s belief that the Company’s Valley Discovery is one of the more significant discoveries in Canada in recent history, the granting of certain rights to B2Gold to maintain their pro rata ownership interest in the Company, the expected timing for closing of the Offering 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 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-22-030 returned 1.06 g/t Au over 161.0 m within broader 282.5 m mineralized interval averaging 0.73 g/t Au, adding width to southeast extension of near-surface, well mineralized corridor at Valley
Hole ends in mineralization, with final 66.0 m of hole averaging 1.46 g/t Au and final 21.0 m averaging 1.93 g/t Au
Localized gold intersections at Gracie target (4 km east of Valley) confirm a second reduced-intrusion gold system to be targeted in phase 2 drilling in 2023.
Vancouver, B.C., March 7, 2023: SNOWLINE GOLD CORP. (CSE: SGD) (US OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to announce additional preliminary assay results from its 2022 drilling programs at its Rogue Project in Canada’s Yukon Territory. Hole V-22-030, drilled on the southeastern margin of Valley’s central mineralized zone, returned 1.06 g/t Au over 161.0 m before ending in strong mineralization (Tables 1 and 2). The result adds scale and tonnage to the southeastern side of this near-surface, well mineralized zone. In addition, results from phase 1 drilling at the Gracie confirm the existence of a second reduced intrusion-related gold system, with a high correlation between gold, bismuth and tellurium values in sheeted quartz veins. Phase 1 results will be used to guide a targeted phase 2 drill program at Gracie in 2023.
Table 1 – Preliminary highlight summary of Snowline’s latest assay results. *Interval widths reported; true widths of the system are not yet known.
“Today’s results continue to highlight and build on the prospectivity of our Rogue Project,” said Scott Berdahl, CEO & Director of Snowline. “A single season of drilling has transformed our Valley Zone from an interesting exploration target to a pre-resource gold project noteworthy on a global scale, redefining the deposit model far beyond what are traditionally low grade, heap-leach systems. The consistency of strong grades and the size of Valley make it easy to understand, translating to lower exploration costs required for delineation, and in the future, lower costs for any potential economic operation. Our results from Gracie demonstrate that Valley is not a one-off—Snowline’s Rogue Project is prospective for multiple gold systems of this scale and intensity. We are excited to resume exploration in 2023 with the dual goals of further advancing Valley and locating additional gold systems just like it.”
Figure 1 – 2021 and 2022 drilling at the Valley Zone, showing analytical results (top) and vein densities alongside instances of visible gold observed during logging (bottom). Visual results indicate the presence of a large central zone within the broader Valley intrusion bearing higher vein densities. Initial analytical results for this zone consistently carry unusually high grades for a reduced intrusion-related gold system.Figure 2 – Cross-section A, showing results received (top) and vein densities alongside instances of visible gold observed during logging (bottom).
HOLE V-22-030
Hole V-22-030 was collared within the Valley intrusion, to the east of the known near-surface well-mineralized corridor. The hole was a 301 m step-back along section to the northeast from the collar site for V-22-026 (289.7 m @ 0.90 g/t Au including 189.2 m @ 1.25 g/t Au from surface, see Snowline news release dated January 18, 2023), and located 126 m from the nearest hole (V-22-027).
The hole encountered increasingly abundant sheeted quartz veins and trace visible gold as it progressed, returning 1.06 g/t Au over its final 161.0 m from 246.0 m downhole within a broader interval averaging 0.73 g/t Au over 282.5 m from 124.5 m downhole (Tables 1 and 2). The hole was terminated for technical reasons and ended in mineralization. The final 66.0 m averaged 1.46 g/t Au, while the final 21.0 m averaged 1.93 g/t Au.
As with previous holes at Valley, gold grades are carried across broad intervals, and they are not heavily affected by local high-grade (>10 g/t Au) intersections (Table 2).
Figure 3 – Plan map of Gracie area drilling, showing downhole analytical results for gold along with 2022 surface grab samples (to 12.3 g/t Au, elsewhere at Gracie to 13.5 g/t Au) along with quartz veins mapped on surface. A dominant NW-SE, vertically oriented sheeted vein array is parallel to those at Valley and appears to correspond to vein hosted gold mineralization encountered in drilling at Gracie.
GRACIE
Gracie is a separate reduced-intrusion related gold system (RIRGS) located roughly 4-5 km east of the Valley discovery. Unlike Valley, where the mineralized intrusion is exposed on surface, the causative intrusion at Gracie does not daylight. This presents an attractive exploration target, as the highest gold grades in RIRGS systems are commonly found near the top of a given intrusion. Thus, at Gracie, the strongest part of the gold system is likely to be intact.
Phase 1 drilling at Gracie successfully confirms the presence of a RIRGS. Of the five holes drilled in 2022 (2,152 m total), four intersected zones of high-temperature alteration known as hornfels, indicative of a nearby intrusion. Each of these four holes also encountered trace instances of visible gold associated with bismuth and tellurium minerals in sheeted quartz veins oriented parallel to those at Valley, albeit at low overall vein densities. Geochemical correlations at Gracie in phase 1 drilling are further diagnostic confirmation of RIRGS mineralization. G-22-004, for example, returned 19.45 g/t Au over 0.9 m downhole width, with strong bismuth and tellurium values (378 ppm and 43.1 ppm respectively) and very low arsenic (3.92 ppm), suggesting proximity to a heat source.
Phase 2 drilling is planned at Gracie for 2023, with the objective of intersecting arrays of high-density sheeted quartz vein mineralization within the Gracie intrusion. Multi-element analytical results from the phase 1 program will be used alongside mineralogical observations to identify possible vectors towards the Gracie intrusion.
Table 2 – Summary of mineralization in current holes. Holes denoted by “V” are from the Valley target, holes denoted by “G” are from Gracie. *Interval widths reported; true widths of the system are not yet known, with different vein generations, orientations and grade distributions within given intervals through the bulk tonnage gold target at Valley.
QA/QC
On receipt from the drill site, Valley’s NQ2-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline’s 2022 field camp. Sample lengths as small as 0.5 m were used to isolate features of interest, 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) collected for analysis and one half stored as a record. Standard reference materials, blanks and duplicate samples 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 and by Snowline personnel to ALS Laboratories’ preparatory facility in Whitehorse, Yukon. Sample preparation was completed at different facilities in Whitehorse, Sudbury, ON, Thunder Bay, ON and Langley, BC with analyses completed in Vancouver.
ALS is accredited to ISO 17025:2005 UKAS ref 4028 for its laboratory analysis. Samples were crushed by ALS to >70% 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 48-element analysis on 0.25 g sample pulps (ALS code: ME-MS61L). All samples were analysed for gold content by fire assay with an atomic absorption spectroscopy (AAS) finish on 30 g samples (ALS code: Au-AA23). Any sample returning >10 g/t Au was reanalysed by fire assay with a gravimetric finish on a 30 g sample (ALS code: Au-GRA21).
Samples with visible gold and other samples returning >2.0 g/t Au by fire assay, along with a set of randomly selected samples, will undergo further processing, analysing the screen rejects to determine whether the screening process could introduce a sampling bias in current results by excluding coarse gold from analysis, resulting in an under-reporting of true grades. Other biases are also possible.
Results reported herein are considered preliminary following receipt of a low but expected percentage of abnormal assays from standard and blank samples inserted by the Company into the Valley sample stream. (Standard samples are prepared by a third-party laboratory to have known quantities of gold, and blank samples are known to contain very limited concentrations of gold.) Reanalysis of samples run along with these reference materials will provide greater certainty in the final assay numbers. These results will be reported if a material difference is identified between the current assays and the re-run sample batches. Based on the widespread and relatively consistent mineralization throughout mineralized zones, however, the Company does not believe that the re-analysis of this relatively small number of samples will have a significant impact on the preliminary mineralized intervals reported herein.
ABOUT ROGUE
Rogue’s Valley Zone is a newly discovered, bulk tonnage style, reduced intrusion-related gold system (RIRGS), with geological similarities to multi-million-ounce deposits currently in production like Kinross’s Fort Knox Mine in Alaska and Victoria Gold’s Eagle Mine in the Yukon. Early drill results demonstrate unusually high gold grades for such a system present near surface across intersections of hundreds of metres. Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays along the margins of and within a one-kilometer-scale, mid-Cretaceous aged Mayo-series intrusion. Valley is an early-stage exploration project without a resource estimate, and while initial results are encouraging, the presence or absence of an economically viable orebody cannot be determined until significant additional work is completed.
The Rogue Project area hosts multiple intrusions similar to Valley along with widespread gold anomalism in stream sediment, soil and rock samples. Elsewhere, RIRGS deposits are known to occur in clusters. The Rogue Project is thus considered by the Company to have district-scale potential for additional reduced intrusion-related gold systems.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seventeen-project portfolio covering >280,000 ha. The Company is exploring its flagship >137,000 ha Rogue and Einarson gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. The Company’s first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
Figure 4 – Project location map for Snowline Gold’s eastern Selwyn Basin properties. The Valley and Gracie Zones on the Rogue are the sites of Snowline’s 2022 drill programs.
QUALIFIED PERSON
Information in this release has been prepared under supervision of and approved by Thomas K. Branson, M.Sc., P. Geo., Vice President of Exploration for Snowline and a Qualified Person for the purposes of National Instrument 43-101.
This news release contains certain forward-looking statements, including statements about the Company’s drill program, results, implied significance of visual inspection of drill core, and surface work and plans for exploring and expanding a new greenfield, district-scale gold system. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things: risks related to uncertainties inherent in drill results and the estimation of mineral resources; and risks associated with executing the Company’s plans and intentions. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Vancouver, B.C., March 6, 2023: SNOWLINE GOLD CORP. (CSE: SGD) (OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to announce the appointment of Thomas Branson, M.Sc., P.Geo., to the role of Vice President of Exploration. Mr. Branson served as Snowline’s Exploration Manager in 2022, playing a key role on Snowline’s team during a transformative year for the Company that included initial delineation of the large, near-surface, and unusually high-grade bulk tonnage Valley gold discovery on Snowline’s Rogue Project in Canada’s Yukon Territory.
Prior to joining Snowline, Mr. Branson spent 15 years as an exploration geologist, gaining extensive experience in the Yukon and British Columbia, from greenfields exploration through to feasibility studies. He has been involved with organization and management of over 190,000 cumulative metres of exploration and resource drilling on programs in the Wernecke Mountains and Wolverine mine in Yukon, Mount Milligan, Kemess and Scottie Gold mines in BC and elsewhere. His role with Snowline bridges operational and technical aspects of exploration, discovery, team building and project advancement. Mr. Branson earned a B.Sc. in Earth and Ocean Science from the University of British Columbia and an M.Sc. in Exploration Geology from Rhodes University in South Africa. He is a licensed Professional Geologist with Engineers and Geoscientists British Columbia.
“I am excited at the potential for our growing team to continue making game-changing discoveries as we evaluate and explore our land package, roughly equal in size to one quarter of BC’s Golden Triangle, selectively acquired,” said Mr. Branson, referring to the Company’s >280,000 ha land position in the Yukon. “The many prospective targets within Snowline’s Selwyn Basin project areas point to an emerging gold district. Valley and Jupiter appear to be the tip of the iceberg, and with two years now under our belt, we are poised to take advantage of a unique opportunity in the exploration space.”
Other recent internal appointments include Sergio Gamonal to Chief Geologist, Steve Rennalls to Director of Operations, and Stephanie Hansen to Director of Marketing and IR.
“Snowline’s rapid growth trajectory over the past year is as much a testament to the strength of our team as it is to the quality of our exploration targets,” added Scott Berdahl, CEO & Director of Snowline. “We are fortunate to have Thomas Branson, with his broad skillset and exploration mindset, as a key player helping to drive Snowline’s advancement. We are similarly fortunate at the talent that Snowline’s discoveries have attracted, as we continue to build out our team and ramp up our efforts towards making additional discoveries.”
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seventeen-project portfolio covering >280,000 ha. The Company is exploring its flagship >137,000 ha Rogue and Einarson gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. The Company’s first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
Figure 1 – Project location map for Snowline Gold’s eastern Selwyn Basin properties. The Valley and Gracie Zones on the Rogue are the sites of Snowline’s 2022 drill programs.
QUALIFIED PERSON
Information in this release has been prepared under supervision of and approved by Thomas K. Branson, M.Sc., P. Geo., Vice President of Exploration for Snowline and a Qualified Person for the purposes of National Instrument 43-101.
This news release contains certain forward-looking statements, including statements about the Company’s drill program, results, implied significance of visual inspection of drill core, and surface work and plans for exploring and expanding a new greenfield, district-scale gold system. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things: risks related to uncertainties inherent in drill results and the estimation of mineral resources; and risks associated with executing the Company’s plans and intentions. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Hole V-22-029 returned 1.26 g/t Au over 558.7 m from surface, including 2.04 g/t Au over 202.0 m in 207 m step-back from previous highlight hole V-22-010
Longest mineralized intersection to date at Valley, expands width of central high-grade zone significantly to the north and demonstrates strong continuity to depth
Assays still pending for 3 holes drilled at Rogue in 2022, along with surface results from various targets and properties in Snowline’s portfolio.
Vancouver, B.C., February 24, 2023: SNOWLINE GOLD CORP. (CSE: SGD) (US OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to announce additional preliminary assay results from its 2022 drilling programs at its Rogue Project in Canada’s Yukon Territory. Hole V-22-029 intersected sheeted quartz vein mineralization within the Valley intrusion averaging 1.26 g/t Au over 558.7 m from surface, including 2.04 g/t Au over 202.0 m, with additional mineralization at depth (Tables 1 and 2). The hole was collared at a 207 m step-back perpendicular to strike from V-22-010 (318.8 m @ 2.55 g/t Au from surface) to test the local width of Valley’s near-surface, well mineralized corridor and the continuity of mineralization to depth.
Table 1 – Preliminary highlight summary of Snowline’s latest assay results. *Interval widths reported; true widths of the system are not yet known.
“V-22-029 exceeded our expectations, intersecting strong mineralization much higher in the hole than we originally anticipated and continuing to significant depth,” said Scott Berdahl, CEO & Director of Snowline. “It’s the longest continuously mineralized interval we’ve drilled at Valley to date, and like many of Valley’s best holes the interval begins at bedrock surface. For perspective, I invite anybody visiting Toronto for PDAC to look at the CN Tower, which stands 553.3 m tall, just shy of the length of this mineralized interval. The scale, grade and continuity of the gold system at Valley continue to impress us, and we look forward to additional results.”
Figure 1 – 2021 and 2022 drilling at the Valley Zone, showing assays received to date (top) and vein densities alongside instances of visible gold observed during logging (bottom). Visual results indicate the presence of a large central zone within the broader Valley intrusion bearing higher vein densities. Initial analytical results for this zone consistently carry unusually high grades for a reduced intrusion-related gold system.Figure 2 – Cross-section A, showing results received (top) and vein densities alongside instances of visible gold observed during logging (bottom). V-22-029 curves into the page at depth such that the bottom of the hole is roughly 100 m behind section.Table 2 – Summary of mineralization in current holes. Gold intervals are typically long and relatively continuous, with little influence on overall interval grade from unusually high samples evidenced by strong “remainder” assays and strong values after capping assays at 10 g/t Au. *Interval widths reported; true widths of the system are not yet known, with different vein generations, orientations and grade distributions within given intervals through the bulk tonnage gold target.
HOLE V-22-029
Hole V-22-029 was collared within the Valley intrusion and to the north of the known near-surface well-mineralized corridor. The hole was a 207 m step-back along section to the northeast from the collar site for V-22-010 (318.8 m @ 2.55 g/t Au including 108.0 m @ 4.14 g/t Au from surface, see Snowline news release dated October 12, 2022), designed to test the local width of the array of steeply dipping, northwest-striking mineralized quartz veins. Additional mineralized holes V-22-005, 006, 007, 015 and 020 are located between 167 and 177 m from the collar site to the west, south and east (Figure 1), and V-22-033 was collared from the same drill pad.
The hole encountered abundant sheeted quartz veins with trace visible gold, returning 1.26 g/t Au over 558.7 m from bedrock surface at approximately 4.4 m downhole depth, including a higher-grade interval of 2.04 g/t Au over 202.0 m from 90.0 m downhole. Below this, a second zone of mineralization, averaging 0.81 g/t Au over 58.5 m from 630.5 m downhole, was encountered where the drill hole leaves the intrusion at approximately 662.3 m depth. Two 0.5 m intervals of unusually high grade mineralization were intersected at 508.5 m and 646.5 m downhole (69.50 g/t Au and 38.60 g/t Au respectively). These correspond to observations of unusually large (5 to 10 mm scale) bismuth and tellurium minerals in tight spatial association with clusters of trace visible gold.
The hole extends the known width of near surface, >1 gram per tonne gold mineralization at Valley, and demonstrates continuity of mineralization to depths greater than 400 m below surface.
As with previous holes at Valley, gold grades are carried across broad intervals, and they are not heavily affected by local high-grade (>10 g/t Au) intersections (Table 2).
Figure 3 – Quartz vein mineralization in V-22-029, from 127.7 m to 152.7 m downhole. The hole encountered high density quartz veining father to the northeast than expected, locally expanding the width of the high-density central vein corridor. Instances of visible gold are marked by orange flags above core. The interval, previously shown in a September 20, 2022 News Release by the Company, averaged 1.47 g/t Au.
QA/QC
On receipt from the drill site, Valley’s NQ2-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline’s 2022 field camp. Sample lengths as small as 0.5 m were used to isolate features of interest, 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) collected for analysis and one half stored as a record. Standard reference materials, blanks and duplicate samples 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 and by Snowline personnel to ALS Laboratories’ preparatory facility in Whitehorse, Yukon. Sample preparation was completed at different facilities in Whitehorse, Sudbury, ON, Thunder Bay, ON and Langley, BC with analyses completed in Vancouver.
ALS is accredited to ISO 17025:2005 UKAS ref 4028 for its laboratory analysis. Samples were crushed by ALS to >70% 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 48-element analysis on 0.25 g sample pulps (ALS code: ME-MS61L). All samples were analysed for gold content by fire assay with an atomic absorption spectroscopy (AAS) finish on 30 g samples (ALS code: Au-AA23). Any sample returning >10 g/t Au was reanalysed by fire assay with a gravimetric finish on a 30 g sample (ALS code: Au-GRA21).
Samples with visible gold and other samples returning >2.0 g/t Au by fire assay, along with a set of randomly selected samples, will undergo further processing, analysing the screen rejects to determine whether the screening process could introduce a sampling bias in current results by excluding coarse gold from analysis, resulting in an under-reporting of true grades. Other biases are also possible.
Results reported herein are considered preliminary following receipt of a low but expected percentage of abnormal assays from standard and blank samples inserted by the Company into the Valley sample stream. (Standard samples are prepared by a third-party laboratory to have known quantities of gold, and blank samples are known to contain very limited concentrations of gold.) Reanalysis of samples run along with these reference materials will provide greater certainty in the final assay numbers. These results will be reported if a material difference is identified between the current assays and the re-run sample batches. Based on the widespread and relatively consistent mineralization throughout mineralized zones, however, the Company does not believe that the re-analysis of this relatively small number of samples will have a significant impact on the preliminary mineralized intervals reported herein.
ABOUT ROGUE
Rogue’s Valley Zone is a newly discovered, bulk tonnage style, reduced intrusion-related gold system (RIRGS), with geological similarities to multi-million-ounce deposits currently in production like Kinross’s Fort Knox Mine in Alaska and Victoria Gold’s Eagle Mine in the Yukon. Early drill results demonstrate unusually high gold grades for such a system present near surface across intersections of hundreds of metres. Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays along the margins of and within a one-kilometer-scale, mid-Cretaceous aged Mayo-series intrusion. Valley is an early-stage exploration project without a resource estimate, and while initial results are encouraging, the presence or absence of an economically viable orebody cannot be determined until significant additional work is completed.
The Rogue Project area hosts multiple intrusions similar to Valley along with widespread gold anomalism in stream sediment, soil and rock samples. Elsewhere, RIRGS deposits are known to occur in clusters. The Rogue Project is thus considered by the Company to have district-scale potential for additional reduced intrusion-related gold systems.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering >280,000 ha. The Company is exploring its flagship >137,000 ha Rogue and Einarson gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. The Company’s first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
Figure 4 – Project location map for Snowline Gold’s eastern Selwyn Basin properties. The Valley and Gracie Zones on the Rogue are the sites of Snowline’s 2022 drill programs.
QUALIFIED PERSON
Information in this release has been prepared under supervision of and approved by Thomas K. Branson, M.Sc., P. Geo., Exploration Manager for Snowline and a Qualified Person for the purposes of National Instrument 43-101.
This news release contains certain forward-looking statements, including statements about the Company’s drill program, results, implied significance of visual inspection of drill core, and surface work and plans for exploring and expanding a new greenfield, district-scale gold system. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things: risks related to uncertainties inherent in drill results and the estimation of mineral resources; and risks associated with executing the Company’s plans and intentions. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Vancouver, B.C., February 22, 2023: SNOWLINE GOLD CORP. (CSE: SGD) (OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to announce the appointment of Calum Morrison to the Board of Directors as an independent director.
Calum Morrison is a mining finance professional with nearly two decades of experience in business development, mergers and acquisitions, corporate strategy and capital markets.
Most recently, Mr. Morrison was the Vice President of Business Development and CFO of Great Bear Resources Ltd., and the President and CEO of Great Bear Royalties Corp. In February 2022, Kinross Gold Corp. purchased Great Bear Resources Ltd. for $1.8 billion and in September 2022 Great Bear Royalties Corp. was purchased by Royal Gold Inc. for $200 million.
Mr. Morrison previously spent several years as a senior member of Teck Resources Limited’s Corporate Development team that provided financial and technical expertise to the evaluation of mining projects around the world, including acquisitions, joint ventures, due diligence and various strategic initiatives. He also has direct capital markets experience acquired with past investment banking roles at major investment firms.
He holds a Bachelor of Science degree from Dalhousie University, and is a Chartered Financial Analyst and a Chartered Professional Accountant.
“I’m excited to be joining the Snowline Gold team and look forward to contributing to the further discovery and development of an exceptional new gold district.” commented Mr. Morrison. “Through my recent experience with Great Bear, I have seen how stakeholders can benefit from combining geologic endowment and geoscience excellence with a strong team to advance an early-stage discovery. Snowline is uniquely positioned to advance through to the next stages of asset development.”
Snowline Chair Craig Hart added that Mr. Morrison will bring valuable experience, skill sets and new perspectives to the Board with his wealth of corporate development, financial and M&A expertise. “Calum is a great addition for Snowline, not only does he bring his enthusiasm and strategic planning skills to the team, but he has first-hand experience in maximizing shareholder value for a resource company at our stage of growth.”
The Company has granted 500,000 incentive stock options to Mr. Morrison. The options are exercisable for one share each at $2.17 per share for a period of five years and are subject to the terms of the Company’s Stock Option Plan. Options are subject to vesting provisions of 20% every six months from the date of the grant.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering >280,000 ha. The Company is exploring its flagship >137,000 ha Rogue and Einarson gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. The Company’s first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
This news release contains certain forward-looking statements, including statements about the Company’s drill program, results, implied significance of visual inspection of drill core, and surface work and plans for exploring and expanding a new greenfield, district-scale gold system. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things: risks related to uncertainties inherent in drill results and the estimation of mineral resources; and risks associated with executing the Company’s plans and intentions. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Hole V-22-028 returned 1.40 g/t Au over 363.5 m from surface, including 2.03 g/t Au over 129.9 m and 2.15 g/t Au over 42.3 m from its Valley Zone
Additional results extend known strike length of potentially economic gold grades along mineralized corridor to 720 m (open) and delineate gold-bearing quartz vein arrays along relatively underexplored eastern boundary of the Valley intrusion
Assays still pending for 7 of 32 holes (3,474 m, or 26% of 13,320 m) drilled at Valley and Gracie in 2022.
Vancouver, B.C., February 3, 2023: SNOWLINE GOLD CORP. (CSE: SGD) (OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to announce additional preliminary assay results from its 2022 drilling program at the Valley Zone, Rogue Project, Yukon. Notably, hole V-22-028 intersected a zone of sheeted quartz vein mineralization within the Valley intrusion averaging 1.40 g/t Au across 363.5 m from surface, including zones of 2.03 g/t Au over 129.9 m and 2.15 g/t Au over 42.3 m, with additional mineralization at depth (Tables 1 and 2). The hole was collared 121 m from the nearest hole (V-22-014; 285.2 m @ 1.45 g/t Au) and drilled northeast, demonstrating continuity of mineralization within Valley’s near-surface mineralized corridor. Assays remain pending for 26% (3,474 m) of the 2022 Rogue drill program.
Table 1 – Preliminary highlight summary of Snowline’s latest assay results. *Interval widths reported; true widths of the system are not yet known.
“We are continually impressed not only by the scale but by the continuity of gold mineralization at Valley,” said Scott Berdahl, CEO & Director of Snowline. “Today’s results build on earlier holes, with V-22-028 adding significant tonnage with strong gold grades. The hole demonstrates a wide breadth to the mineralized zone and grade continuity between previous holes. In addition, promising mineralization seen in V-22-019 shows potential for the near-surface higher grades to continue to the southeast, while V-22-020 shows widespread mineralization within the Valley intrusion beyond the main gold zones known to us at present. We look forward to receiving additional assays from the 2022 season as we gear up for an exciting exploration program in 2023.”
Figure 1 – 2021 and 2022 drilling at the Valley Zone, showing assays received to date (top) and vein densities alongside instances of visible gold observed during logging (bottom). Visual results indicate the presence of a large central zone within the broader Valley intrusion bearing higher vein densities. Initial analytical results for this zone consistently carry unusually high grades for a reduced intrusion-related gold system.Figure 2 – Cross-section A, showing results received (top) and vein densities alongside instances of visible gold observed during logging (bottom). V-22-028 is collared towards the southeast of the cross-section slice and runs 30-60 m in front of the other holes as shown. Views look northwest.Table 2 – Summary of mineralization in current holes. Gold intervals are typically long and relatively continuous, with little influence on overall interval grade from unusually high samples evidenced by strong “remainder” assays and strong values after capping assays at 10 g/t Au. *Interval widths reported; true widths of the system are not yet known, with different vein generations, orientations and grade distributions within given intervals through the bulk tonnage gold target.
HOLE V-22-028
Hole V-22-028 was collared near the western margin of the Valley intrusion, 121 m from the collar site for V-22-014 (285.2 m @ 1.45 g/t Au including 128.2 m @ 2.48 g/t Au, see Snowline news release dated November 15, 2022), and drilled towards the northeast into the intrusion. The hole encountered abundant sheeted quartz veins with trace visible gold, returning 1.40 g/t Au over 363.5 m from bedrock surface at approximately 17.0 m depth, including higher grade intervals of 2.15 g/t Au over 42.3 m from 45.0 m and 2.03 g/t Au over 129.9 m from 141.3 m.
The hole extends the known width of near-surface, >1 gram per tonne gold mineralization at Valley, and demonstrates continuity of mineralization between previous holes V-22-014 and V-22-007 (410.0 m @ 1.89 g/t Au including 146.0 m @ 3.24 g/t Au, see Snowline news release dated November 15, 2022) along the western edge of the highest-grade zone of the Valley gold system encountered to date.
As with previous holes at Valley, gold grades are carried across broad intervals, and they are not heavily affected by local high-grade (>10 g/t Au) intersections (Table 2).
HOLE V-22-019
Hole V-22-019 was collared in the Valley intrusion as a step-out along strike of the well-mineralized corridor, roughly 178 m from previous hole V-22-026 (289.7 m @ 0.90 g/t Au including 189.2 m @ 1.25 g/t Au, see Snowline news release dated January 18, 2023). The hole encountered widespread low to moderate density of quartz veins hosting gold mineralization, with five instances of trace visible gold noted during logging. Two primary mineralized intervals returned 0.39 g/t Au over 16.0 m from 71.5 m downhole and 0.37 g/t Au over 201.5 m from 127.0 m downhole, extending the northwest-southeast strike length of potentially economic grades at Valley to 720 m. The system remains open. Given the depth of the observed intervals and the tendency elsewhere along the trend for higher grades near surface, the ground above and around this intersection is considered by the company to be highly prospective. Drilling planned for 2023 will test shallower parts of this area.
From bedrock surface at 19.9 m downhole depth to the bottom of consistent mineralization at 390.1 m downhole depth, including barren intervals within, V-22-019 averaged 0.29 g/t Au over 370.2 m.
HOLE V-22-020
Hole V-22-020 was collared in the Valley intrusion at the pad site of 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), but drilled at the opposite azimuth, towards the northeast. The hole encountered a low to moderate density of quartz veins dipping to the northeast, generally at low angles to the core axis. The top 443.5 m of the hole averaged 0.25 g/t Au from bedrock surface at 7.5 m, with generally consistent gold mineralization. As with previous hole V-22-006 (Figure 1), zones of increased grade continuity occur towards the northeastern margin of the Valley intrusion, suggesting the possibility of additional grade-controlling features in this lightly explored part of the system. The hole did not exit the intrusion by its end at 500 m downhole depth.
QA/QC
On receipt from the drill site, Valley’s NQ2-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline’s 2022 field camp. Sample lengths as small as 0.5 m were used to isolate features of interest, 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) collected for analysis and one half stored as a record. Standard reference materials, blanks and duplicate samples 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 and by Snowline personnel to ALS Laboratories’ preparatory facility in Whitehorse, Yukon. Sample preparation was completed at different facilities in Whitehorse, Sudbury, ON, Thunder Bay, ON and Langley, BC with analyses completed in Vancouver.
ALS is accredited to ISO 17025:2005 UKAS ref 4028 for its laboratory analysis. Samples were crushed by ALS to >70% 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 48-element analysis on 0.25 g sample pulps (ALS code: ME-MS61L). All samples were analysed for gold content by fire assay with an atomic absorption spectroscopy (AAS) finish on 30 g samples (ALS code: Au-AA23). Any sample returning >10 g/t Au was reanalysed by fire assay with a gravimetric finish on a 30 g sample (ALS code: Au-GRA21).
Samples with visible gold and other samples returning >2.0 g/t Au by fire assay, along with a set of randomly selected samples, will undergo further processing, analysing the screen rejects to determine whether the screening process could introduce a sampling bias in current results by excluding coarse gold from analysis, resulting in an under-reporting of true grades. Other biases are also possible.
Results reported herein are considered preliminary following receipt of a low but expected percentage of abnormal assays from standard and blank samples inserted by the Company into the Valley sample stream. (Standard samples are prepared by a third-party laboratory to have known quantities of gold, and blank samples are known to contain very limited concentrations of gold.) Reanalysis of samples run along with these reference materials will provide greater certainty in the final assay numbers. These results will be reported if a material difference is identified between the current assays and the re-run sample batches. Based on the widespread and relatively consistent mineralization throughout mineralized zones, however, the Company does not believe that the re-analysis of this relatively small number of samples will have a significant impact on the preliminary mineralized intervals reported herein.
ABOUT ROGUE
Rogue’s Valley Zone is a newly discovered, bulk tonnage style, reduced intrusion-related gold system (RIRGS), with geological similarities to multi-million-ounce deposits currently in production like Kinross’s Fort Knox Mine in Alaska and Victoria Gold’s Eagle Mine in the Yukon. Early drill results demonstrate unusually high gold grades for such a system present near surface across intersections of hundreds of metres. Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays along the margins of and within a one-kilometer-scale, mid-Cretaceous aged Mayo-series intrusion. Valley is an early-stage exploration project without a resource estimate, and while initial results are encouraging, the presence or absence of an economically viable orebody cannot be determined until significant additional work is completed.
The Rogue Project area hosts multiple intrusions similar to Valley along with widespread gold anomalism in stream sediment, soil and rock samples. Elsewhere, RIRGS deposits are known to occur in clusters. The Rogue Project is thus considered by the Company to have district-scale potential for additional reduced intrusion-related gold systems.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seventeen-project portfolio covering >280,000 ha. The Company is exploring its flagship >137,000 ha Rogue and Einarson gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. The Company’s first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
Figure 3 – Project location map for Snowline Gold’s eastern Selwyn Basin properties. The Valley and Gracie Zones on the Rogue are the sites of Snowline’s 2022 drill programs.
QUALIFIED PERSON
Information in this release has been prepared under supervision of and approved by Thomas K. Branson, M.Sc., P. Geo., Exploration Manager for Snowline and a Qualified Person for the purposes of National Instrument 43-101.
This news release contains certain forward-looking statements, including statements about the Company’s drill program, results, implied significance of visual inspection of drill core, and surface work and plans for exploring and expanding a new greenfield, district-scale gold system. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things: risks related to uncertainties inherent in drill results and the estimation of mineral resources; and risks associated with executing the Company’s plans and intentions. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Hole V-22-026 returned 1.25 g/t Au over 189.2 m from surface within a broader mineralized interval averaging 0.90 g/t Au over 289.7 m in 170 m step-out
Hole V-22-027 returned 1.01 g/t Au over 250.0 m, within a broader mineralized interval averaging 0.69 g/t Au over 481.5 m
Results extend strike length of the mineralized core of the Valley intrusion to southeast, adding significant tonnage to known mineralization
Metallurgical testing of Valley drill core set to advance understanding of gold recovery and project economics
Assays still pending for 13 of 32 holes (6,003 m of 13,320 m) drilled at Valley and Gracie in 2022
Vancouver, B.C., January 18, 2023: SNOWLINE GOLD CORP. (CSE: SGD) (OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to announce additional preliminary assay results from its 2022 drilling program at the Valley Zone, Rogue Project, Yukon, and the commencement of metallurgical testing. Holes V-22-026 and V-22-027, drilled to the southeast of previously announced holes V-22-014 (285.2 m @ 1.45 g/t Au) and V-22-007 (410.0 m @ 1.89 g/t Au), extend the strike length of the near-surface, well-mineralized corridor at Valley by 172 m to at least 550 m (open). V-22-027 returned the longest mineralized intersection seen at Valley to date, with potential for higher grades immediately above this hole based on nearby results. Assays remain pending for 6,003 m of the 2022 Rogue drill program.
Table 1 – Preliminary highlight summary of Snowline’s latest assay results. *Interval widths reported; true widths of the system are not yet known. **Results still pending for bottom 126.0 m of this hole.
“Each round of Valley drill results has increased not just to the known extent of mineralization at the target, but to our understanding of its geology and the geometry of its highest-grade zones,” said Scott Berdahl, CEO & Director of Snowline. “The most robust and consistent mineralization we have seen so far at Valley begins in a broad zone at surface, lending itself to promising potential economics for the project, and reducing the drill metres required to advance the discovery. We eagerly await remaining 2022 drill assay results that will shed additional light on this substantial gold discovery. Our current metallurgical program will provide additional value in outlining gold recoverability, an important milestone as the project moves forward.”
Figure 1 – 2021 and 2022 drilling at the Valley Zone, showing assays received to date (top) and vein densities alongside instances of visible gold observed during logging (bottom). Visual results indicate the presence of a large central zone within the broader Valley intrusion bearing higher vein densities. Initial analytical results for this zone consistently carry unusually high grades for a reduced intrusion-related gold system.Figure 2 – Cross section A, showing results received (top) and vein densities alongside instances of visible gold observed during logging (bottom). V-22-026 is the southeasternmost drill hole to hit a broad zone of >1 g/t Au mineralization, extending the known strike length of the bulk tonnage gold system to >0.5km. Views look northwest.Figure 3 – Cross section B, showing results received (top) and vein densities alongside instances of visible gold observed during logging (bottom). V-22-027 was drilled to intersect the mineralized system at depth before grade distributions were known and may have cut under the highest-grade zone locally. Nonetheless, it encountered robust mineralization along most of its length. Views look northwest.Table 2 – Summary of mineralization in current holes. G-22-002 is the first result from the Gracie target. The hole was called short of its target due to difficult drilling conditions and low levels of alteration. This hole was the only hole at Gracie not to encounter at least one trace instance of visible gold. *Interval widths reported; true widths of the system are not yet known. **Results still pending for bottom 126.0 m of this hole.
HOLE V-22-026
Hole V-22-026 was collared within the Valley intrusion, along strike with the intrusion’s well-mineralized corridor and 172 m from the collar site for V-22-014 (285.2 m @ 1.45 g/t Au including 128.2 m @ 2.48 g/t Au, see Snowline news release dated November 15, 2022). The hole encountered moderate to dense quartz veins and abundant visible gold in its upper sections, returning 1.25 g/t Au over 189.2 m from bedrock surface at 10.8 m depth, within a broader interval returning 0.90 g/t Au over 289.7 m. The hole cut through the western margin of the intrusion and entered lightly mineralized (generally <0.1 g/t Au, with local hits up to 0.34 g/t Au over 1.5 m) hornfels at 314.8 m downhole.
The hole extends the known strike length of broad, near-surface, gram to multiple gram per tonne gold mineralization at Valley to >550 m from mineralization encountered in 2021 drilling. This zone of mineralization remains open in multiple directions.
As with previous holes at Valley, gold grades are carried across broad intervals, and they are not heavily affected by local high-grade (>10 g/t Au) intersections (Table 2).
HOLE V-22-027
Hole V-22-027 was collared in the Valley intrusion as a step back to the northeast to test the well-mineralized central corridor between holes V-22-014 and V-22-026 at depth. The hole encountered widespread light to dense quartz vein mineralization from surface bearing bismuthinite and visible gold, before exiting the western boundary of the intrusion into hornfels at 594 m downhole depth.
Analytical results for the top 551 m of 677 m total have been received at this time. Local zones of up to 1.90 g/t Au over 51.0 m (from 268.5 m downhole) were encountered, within a wide zone of moderate to strong mineralization averaging 1.01 g/t Au across 250.0 m from 102.0 m downhole. More broadly, mineralization at grades >0.1 g/t Au is nearly continuous from 11.5 m to 493.0 m downhole, averaging 0.69 g/t Au over the 481.5 m interval and making for the longest continuously mineralized intersection (no gaps >4.5 m at <0.1 g/t Au) at the bulk tonnage Valley deposit to date. Local zones of mineralization occur below this interval, and the company awaits analytical results for the final 126 m of the hole.
Results from surrounding holes, including V-22-007 and V-22-014, suggest that the trace of V-22-027 would have passed underneath the southwestern extension of the near-surface, multiple-gram-per-tonne gold zone encountered in those holes. Drilling in 2023 will test shallower parts of this area.
METALLURGICAL TESTING
Figure 4 – Reflected light micrograph of abundant gold grains in V-22-007 at 269.8 m downhole. Gold occurs primarily in its native form, as fine grains along grain boundaries near small clusters of sulphides minerals in quartz veins. Snowline has initiated metallurgical testing of the Valley gold system to determine recovery parameters and processing options. Scale bar (bottom right) shows 100 microns, or 0.1 mm. Py=Pyrite (FeS2), Cpy=Chalcopyrite (CuFeS2), Gn=Galena (PbS), Hed=Hedleyite (Bi7Te3), Lil=Lillianite (Pb3Bi2S6).
Initial metallurgical testing of drill core from the Valley gold system is set to begin following shipping of sample material to a third-party lab. The metallurgy program will see 10 continuous composite samples of approximately 10 kg each—representing different parts of and different gold grades within the Valley intrusion—undergo head analysis, bottle roll tests and rougher flotation tests to establish potential gold recoveries for the system and relative suitability of certain potential means of ore processing.
Overall sulphur content of mineralization in Valley is low, typically <0.5% in well-mineralized zones. This, along with the distribution of abundant visible gold, is encouraging from a metallurgical perspective. Comparisons to gold systems with similar styles of mineralization, including Kinross’s Ft Knox Mine in Alaska and Victoria Gold’s Eagle Mine in the Yukon, provide further evidence that good recoveries and favourable metallurgy are likely at Valley. Each mineral system is unique, however, and thus for greater certainty, the Company is undertaking the present study.
QA/QC
On receipt from the drill site, Valley’s NQ2-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline’s 2022 field camp. Sample lengths as small as 0.5 m were used to isolate features of interest, 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) collected for analysis and one half stored as a record. Standard reference materials, blanks and duplicate samples 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 and by Snowline personnel to ALS Laboratories’ preparatory facility in Whitehorse, Yukon, with analyses completed in Vancouver.
ALS is accredited to ISO 17025:2005 UKAS ref 4028 for its laboratory analysis. Samples were crushed by ALS to >70% 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 48-element analysis on 0.25 g sample pulps (ALS code: ME-MS61L). All samples were analysed for gold content by fire assay with an atomic absorption spectroscopy (AAS) finish on 30 g samples (ALS code: Au-AA23). Any sample returning >10 g/t Au was reanalysed by fire assay with a gravimetric finish on a 30 g sample (ALS code: Au-GRA21).
Samples with visible gold and other samples returning >2.0 g/t Au by fire assay, along with a set of randomly selected samples, will undergo further processing, analysing the screen rejects to determine whether the screening process could introduce a sampling bias in current results by excluding coarse gold from analysis, resulting in an under-reporting of true grades. Other biases are also possible.
Results reported herein are considered preliminary following receipt of a low but expected percentage of abnormal assays from standard and blank samples inserted by the Company into the Valley sample stream. (Standard samples are prepared by a third-party laboratory to have known quantities of gold, and blank samples are known to contain very limited concentrations of gold.) Reanalysis of samples run along with these reference materials will provide greater certainty in the final assay numbers. These results will be reported if a material difference is identified between the current assays and the re-run sample batches. Based on the widespread and relatively consistent mineralization throughout mineralized zones, however, the Company does not believe that the re-analysis of this relatively small number of samples will have a significant impact on the preliminary mineralized intervals reported herein.
ABOUT ROGUE
Rogue’s Valley Zone is a newly discovered, bulk tonnage style, reduced intrusion-related gold system (RIRGS), with geological similarities to multi-million-ounce deposits currently in production like Kinross’s Fort Knox Mine in Alaska and Victoria Gold’s Eagle Mine in the Yukon. Early drill results demonstrate unusually high gold grades for such a system present near surface across intersections of hundreds of metres. Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays along the margins of and within a one-kilometer-scale, mid-Cretaceous aged Mayo-series intrusion. Valley is an early-stage exploration project without a resource estimate, and while initial results are encouraging, the presence or absence of an economically viable orebody cannot be determined until significant additional work is completed.
The Rogue Project area hosts multiple intrusions similar to Valley along with widespread gold anomalism in stream sediment, soil and rock samples. Elsewhere, RIRGS deposits are known to occur in clusters. The Rogue Project is thus considered by the Company to have district-scale potential for additional reduced intrusion-related gold systems.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seventeen-project portfolio covering >280,000 ha. The Company is exploring its flagship >137,000 ha Rogue and Einarson gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. The Company’s first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
Figure 5 – Project location map for Snowline Gold’s eastern Selwyn Basin properties. The Valley and Gracie Zones on the Rogue are the sites of Snowline’s 2022 drill programs.
QUALIFIED PERSON
Information in this release has been prepared under supervision of and approved by Thomas K. Branson, M.Sc., P. Geo., Exploration Manager for Snowline and a Qualified Person for the purposes of National Instrument 43-101.
ON BEHALF OF THE BOARD
Scott Berdahl CEO & Director
For further information, please contact: Snowline Gold Corp. +1 778 650 5485 info@snowlinegold.com
This news release contains certain forward-looking statements, including statements about the Company’s drill program, results, implied significance of visual inspection of drill core, and surface work and plans for exploring and expanding a new greenfield, district-scale gold system. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things: risks related to uncertainties inherent in drill results and the estimation of mineral resources; and risks associated with executing the Company’s plans and intentions. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
