- Snowline Gold (TSXV:SGD) is reporting a 7.3-million-ounce initial mineral resource estimate for the Valley deposit on its 1,110-square-kilometre Rogue project in the Yukon
- Management believes the deposit has encouraging potential to generate long-term shareholder value
- Snowline is a gold exploration company with a portfolio of eight owned or optioned projects in Canada’s Yukon Territory
- Snowline Gold stock has added more than 1,400 per cent since 2019
Snowline Gold (TSXV:SGD) is reporting a 7.3-million-ounce initial mineral resource estimate (MRE) for the Valley deposit on its 1,110-square-kilometre Rogue project in the Yukon.
The NI 43-101-compliant MRE features 4.05 million ounces of gold indicated and 3.26 million ounces of gold inferred backed up by 27,911 metres of drill data across 68 drill holes, which accounts for all exploration on the property from 2021 to before the company’s ongoing 2024 drilling campaign. The estimate uses a base-case gold price of US$1,800 per ounce, representing a healthy 23 per cent margin to the current price of about US$2,330.
Management is keen to expand Valley’s initial MRE, as it is confident the deposit’s approximately 95 per cent gold recoveries and continuous mineralization, including a significant component of higher-grades starting from surface, afford it a strong chance at long-term economical gold extraction.
The Rogue project is also host to numerous other systems similar to Valley featuring widespread gold anomalism in stream sediment, soil and rock samples, leading management to believe it possesses district-scale potential.
How does Rogue stack up against the rest of Snowline Gold’s portfolio?
Snowline owns a large portfolio of highly prospective projects which, in combination with Rogue, amount to more than 360,000 ha (3,600 square kilometres) in the Tintina Gold Province, whose prolific mining history has yielded multiple million-ounce gold mines and deposits, including Kinross Gold’s Fort Knox mine in Alaska. Here are a handful of highlights:
- Einarson, 61,690 hectares – multiple kilometre-scale geochemical anomalies.
- Cliff, 2,724 hectares – gold-in-soil anomalies in a placer gold district with more than a century of gold production.
- Tosh, 3,700 hectares – mineralized rock samples up to 6.8 g/t gold and 1,146 g/t silver over a 15-km area.
- Rainbow, 1,225 hectares – ground magnetics alteration signature across a 3 km x 2 km area.
- Cynthia, 1,399 hectares – a 4-square-km area of gold mineralization.
- Ursa, 7,755 hectares – a 9 km trend of elevated to anomalous gold in stream sediment and soil samples, and a parallel 14 km trend of elevated to highly anomalous zinc and elevated silver, copper, molybdenum, nickel and vanadium.
Given Snowline’s robust exploration upside, multiple years of value-accretive exploration, and Valley’s now established resource, which represents more than US$17 billion in the ground and less than 0.01 per cent of its total land package, it’s no surprise that SGD shares have risen by more than 1,400 per cent since 2019, with a history of successful capital raising setting the junior miner up to exploit its long growth runway.
Leadership insights
“In just two full exploration seasons, Snowline has advanced its Valley target from greenfield discovery holes to a robust multi-million-ounce gold deposit with continued exploration upside,” Scott Berdahl, Snowline Gold’s chief executive officer, said in a statement. “The rapid advancement is a testament both to the quality of the discovery – with exceptional continuity of strong, non-refractory gold mineralization beginning at surface – and to the quality of the ongoing work by our talented and hard-working field team. We believe that Valley has excellent potential for continued growth, as evidenced by broad intervals of 1-2 g/t gold mineralization returned in drilling on multiple edges of the system. We are actively building on this milestone for Valley with our largest drill campaign to date, currently underway, while testing multiple prospective greenfield targets in a region we believe has the potential to become a prolific minerals district.”
About Snowline Gold
Snowline is a gold exploration company with a portfolio of eight owned or optioned projects in Canada’s Yukon Territory.
Snowline Gold stock (TSXV:SGD) is up by 6.3 per cent trading at C$5.74 per share as of 9:33 am ET.
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(Top photo of Snowline Gold’s 2024 drilling program: Snowline Gold.)