Snowline makes huge gold discovery in Yukon See below for details. SGD will be going much higher. The gold deposit that Snowline has discovered will be 3 to 5 times larger than that of Victoria Gold which recently opened the largest gold mine in the Yukon. SGD's 340 meter step out hole V-007 hit 282 meters of 2.30 g/t since the news release below that announced hole V-003 which hit 168 meters of 1.25 g/t. SGD has made an absolutely huge gold discovery. All of this at the Valley Target and there could possibly be a similar hidden intrusion at Gracie 5 km east of the Valley discovery where Snowline is also drilling. Huge blue sky potential with this one. Gold majors will be lined up to buy this discovery. Favourable metallurgy and a lot of ounces that can be mined at a profit. No surprises with this type of gold discovery and it's in a mining friendly jurisdiction.
VANCOUVER, BC / ACCESSWIRE / June 30, 2022 / SNOWLINE GOLD CORP. (CSE:GD)(OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to announce that it has encountered 415 m of nearly continuous mineralization downhole from bedrock surface in V-22-007 at its Rogue Project's Valley Zone in Canada's Yukon Territory. Hole V-22-007 was a 340 m step-out along-strike to the southeast of 2021 drill hole V-21-003 (which intersected 168.65 m averaging 1.25 g/t Au from bedrock surface). A second drill rig mobilized to site and has completed drilling V-22-008, which intersected sheeted quartz veins 460 m from the nearest hole to date, further expanding the footprint of known mineralization at Valley.
In my opinion what Snowline Gold has just at the Valley discovery will be much larger and better grade than that of the Eagle mine (see below for details) owned and operated by Victoria Gold. VGCX has a market cap of around $700 million.
Details on Victoria's Eagle mine below
The property covers an area of approximately 555 square kilometres, and is the site of the company's Eagle and Olive gold deposits. The company issued a National Instrument 43-101 technical report for the Eagle gold mine dated Dec. 3, 2019. Since the date of the 2019 Eagle technical report, the company has produced gold from its Eagle mine. Based on the 2019 Eagle technical report and after adjusting for depletion through Dec. 31, 2021, the Eagle and Olive deposits include proven and probable reserves of 2.7 million ounces of gold from 133 million tonnes of ore with a grade of 0.64 gram of gold per tonne. Based on the 2019 Eagle technical report and after adjusting for depletion through Dec. 31, 2021, the mineral resource for the Eagle and Olive deposits has been estimated to host 207 million tonnes averaging 0.63 gram of gold per tonne, containing 4.2 million ounces of gold in the measured and indicated category, inclusive of proven and probable reserves, and a further 28 million tonnes averaging 0.61 gram of gold per tonne, containing 600,000 ounces of gold in the inferred category.