Snowline Gold Corp told investors it believes it has uncovered a 'robust in-situ gold system' as the company reported the latest assays from a drill hole at the recently discovered Jupiter Zone at its Einarson project in the Yukon, Canada.
The hole was a 710 metre (m) step-out along trend from earlier holes at the zone and hit two distinct intervals of high-grade gold within broader areas of anomalous gold.
Results included an interval of 6.5m at 13.21 grams per ton (g/t) gold starting from 155.5m depth, which included a width of 1.3m at 43.48 g/t of the precious metal. The hole also hit an intercept of 10.43 g/t gold over 5m from 56m depth.
READ: Snowline Gold unveils positive initial drill results from the Jupiter Zone on its Einarson project in Yukon
"Assay results from hole 11 confirm the discovery of a sizeable gold system at Jupiter," said Scott Berdahl, CEO of Snowline in a statement. "Initially we patted ourselves on the backs for hitting mineralization consistently with our first holes on a blind target. But now, with evidence of the system in 19 for 19 holes over 930m lateral extent-including mineralization in holes off-trend and a hole drilled directly away from our 'target' - we may have simply discovered a gold system that is tough to miss."
Drilling so far at Jupiter has tested parts of a 930m area that remains open, within a 3 kilometre area of elevated to anomalous gold in soils, noted Snowline, while assays are still pending for a further 10 holes in what is an expanded drill program.
"What excites us even more is that Jupiter is the first of many targets left to test on our Einarson, Rogue and Ursa projects," added Berdahl. "It's a successful proof-of-concept in what we believe to be a previously unrecognized and unexplored gold district."
Jupiter is one of nine target zones prospective for orogenic and/or Carlin-style gold mineralization currently recognized on Snowline Gold's district-scale Einarson project.
The explorer's flagship 72,000 hectare Einarson and Rogue gold projects lie in the prospective yet underexplored Selwyn Basin of Canada’s Yukon Territory in the Tintina gold province that hosts multiple million-ounce-plus gold mines and deposits.
Snowline says it represents a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
Contact the author at giles@proactiveinvestors.com