022-11-15 10:09 ET - News Release
Mr. Scott Berdahl reports
SNOWLINE GOLD INTERSECTS 2.5 GRAMS PER TONNE GOLD OVER 128.2 M FROM SURFACE WITHIN 285.2 M OF 1.4 GRAMS PER TONNE GOLD AT ITS VALLEY ZONE, ROGUE PROJECT, YUKON
Snowline Gold Corp. has released additional preliminary assay results from its 2022 drilling program at the Valley zone, Rogue project, Yukon. Notably, hole V-22-014 intersected a broad zone of sheeted quartz vein mineralization within the Valley intrusion averaging 2.48 grams per tonne (g/t) gold (Au) over 128.2 metres, from bedrock surface at 2.8 m downhole, within a broader zone of 1.45 g/t Au over 285.2 m (see the tables entitled "Preliminary highlight summary of V-22-007 and V-22-014" and "Summary of mineralization in current holes"). The hole was collared 160 m from the nearest previously announced hole. Full results have also been received for V-22-007, which is mineralized along its entire 410 m length from bedrock surface, averaging 1.89 g/t Au along the length of the hole.
"Hole V-22-014 is the latest stepout drill hole to add significantly to the prospective scale and grade of our unfolding gold discovery at Valley," said Scott Berdahl, chief executive officer and director of Snowline. "The continuity of strong grades from Valley's central zone, seen both within holes along hundreds of metres and between holes spaced hundreds of metres apart, demonstrates the presence of a large and robust, unusually rich, bulk tonnage gold system. Comparable quartz vein densities -- often with numerous instances of trace visible gold -- in many holes, for which assays have yet to be received, have the potential to carry similar grades. With analytical results pending for nearly 80 per cent of our 2022 drilling, we expect further significant growth to this discovery in the coming weeks and months."
Hole V-22-014
Hole V-22-014 was collared in the Valley intrusion, 160 m southwest of hole V-22-007 and 165 m southeast of hole V-22-010 (318.8 m at 2.55 g/t Au including 108 m at 4.14 g/t Au, see Snowline news release dated Oct. 12, 2022). The hole demonstrates lateral and vertical continuity of near-surface, multigram-per-tonne gold mineralization encountered in previous holes at Valley. V-22-014 encountered high densities of gold-bearing quartz veins in its top 128.2 m and remained largely in mineralization until exiting into hornfels sedimentary rocks at 326 m depth. The last more-than-one g/t gold assay occurs as 2.02 g/t Au over 1.5 m, from 339 m to 340.5 m downhole, within hornfels sedimentary rocks. Gold is typically associated with bismuthinite and telluride minerals in sheeted to near stockwork quartz veins. Overall sulphide content of the system is very low.
As with previous holes in this zone, V-22-014 exhibits a relatively high degree of consistency in gold grade. Of the top 128.2 m, 59 of 103 samples assayed higher than two g/t Au -- representing 71.2 m (non-contiguous) or 55.5 per cent of the downhole interval. While high grades of up to 22.4 g/t (1.4 ounces/ton) Au are present, they are not primary drivers of the broader mineralized intervals. Applying a cap at 10 g/t Au reduces the top 128.2 m of the hole by just 4.8 per cent to 2.36 g/t Au, while the broader 285.2 m interval is affected less, dropping 4.1 per cent to 1.39 g/t Au.
About Rogue
The geological setting and style of mineralization at Rogue's Valley zone indicate the presence of a bulk tonnage gold target, with similarities to Kinross's Fort Knox mine in Alaska and Victoria Gold's Eagle mine in the Yukon. Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays along the margins of a mid-Cretaceous-aged Mayo-series intrusion. The Rogue project hosts multiple intrusions of similar age and affinity to that at Valley, along with widespread gold anomalism in stream sediment, soil and rock samples. The project is thus considered by the company to have district-scale potential for reduced-intrusion-related gold systems.
Valley is an early-stage exploration project without a resource estimate, and the presence or absence of an economically viable orebody cannot be determined until significant additional work is completed.
Total metres drilled -- correction
Due to a tallying error that saw two holes summed twice, total drilling meterage for the 2022 season was incorrectly reported on Snowline's Oct. 12, 2022, news release as 14,495 m. In fact, a total of 13,320 m was drilled by the company on its Rogue project in 2022, with 11,168 m drilled at Valley in 27 holes and 2,152 m drilled at the nearby Gracie target in five holes. Presently, results for 2,789 m (eight holes) have been received from Valley, with assays pending for the remaining 8,378 m (19 holes). Results for all holes at Gracie remain pending.
Quality assurance/quality control
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 predetermined 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 more than 70 per cent passing below two millimetres and split using a riffle splitter, and 250-gram splits were pulverized to more than 85 per cent 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 analyzed for gold content by fire assay with an atomic absorption spectroscopy (AAS) finish on 30 g samples (ALS code: Au-AA23). Any sample returning more than 10 g/t Au was reanalyzed by fire assay with a gravimetric finish on a 30 g sample (ALS code: Au-GRA21).
Samples with visible gold and other samples returning more than two g/t Au by fire assay, along with a set of randomly selected samples, will undergo further processing, analyzing 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 rerun sample batches. Based on the widespread and consistent mineralization throughout mineralized zones, however, the company does not believe that the reanalysis of this relatively small number of samples will have a significant impact on the preliminary mineralized intervals reported herein.
About Snowline Gold Corp.
Snowline Gold is a Yukon-focused gold exploration company with a 17-project portfolio covering more than 254,000 hectares. The company is exploring its flagship over-111,000-hectare 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's Fort Knox mine, Newmont's Coffee deposit and Victoria Gold's Eagle mine. The company's first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
Qualified person
Information in this release has been prepared under supervision of and approved by Thomas K. Branson, MSc, PGeo, exploration manager for Snowline and a qualified person for the purposes of National Instrument 43-101.
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