Snowline Gold Corp. (CSE:SGD) said the first two holes ever drilled into the Valley target on its flagship Rogue project in the Yukon, Canada, intersected trace amounts of visible gold across broad regions of drill core.
In an update on its activities on its Rogue project, the Yukon Territory focused gold exploration company said Holes V-21-001 and V-21-002, the first two holes ever drilled into Snowline’s “Valley” gold target, both intersected trace amounts of visible gold across much of their 161 meter (m) and 242 m lengths in quartz veins associated with a previously untested reduced-intrusion related gold system.
Targeting efforts prior to drilling revealed an open, 900 x 150 m zone of anomalous gold-in-soils associated with a recently identified intrusion accompanied by sheeted quartz veins assaying to 15.95 grammes per ton (g/t) gold.
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“Visible gold mineralization at Rogue marks Snowline’s second drill discovery in as many drill campaigns this season. We await assay results for the full story,” Snowline Gold Corp. (CSE:SGD)CEO Scott Berdahl said in a statement. “Those new to Snowline may be surprised at the apparent success of our inaugural season. But while we are a newly listed company, this is not a new endeavour. We were built on over three decades of mostly private Yukon-focused exploration.”
Berdahl told investors the company’s flagship projects has taken various forms over the past 11 years, with millions spent on baseline data collection yielding promising targets and ideas.
“Snowline is now well-positioned to reap the benefits. We are fortunate to begin our journey at the drill discovery phase—the steepest value-add in the mining life cycle—and we are just getting started,” added Berdahl. “Our recent successes further validate Snowline’s driving thesis of a new gold district in the Selwyn Basin spanning multiple deposit types across our Rogue, Einarson and Ursa projects.”
The firm said Holes V-21-001 and 002 were drilled from a single pad along an azimuth of 175°, dipping 50° and 70°. “Visible gold encountered in drill core occurs as grains roughly 0.1-0.5mm in size within centimetre-scale, sheeted quartz veins that are present at varying densities per metre throughout both holes,” said the company.
In hole V-21-001, at least 28 of these small quartz veins contain visible gold, with up to five grains observed in a single vein crosscutting core. In hole V-21-002, instances of visible gold are observed through to 217.5 m depth (total hole depth 242 m).
Sheeted veins are present in both hornfels sedimentary rocks and in a dominantly diorite to quartz-diorite intrusion. This intrusion does not appear on current geological maps, but based on nearby mapped intrusions, it is likely a member of the Mayo plutonic suite, a series of Cretaceous-aged felsic intrusions responsible for significant gold deposits including Fort Knox in Alaska and the Eagle gold mine, in the Yukon.
The drill discovery caps off a busy season of careful advancement and targeting by Snowline at Valley, comprising soil sampling, prospecting, preliminary geological mapping, and drone-supported detailed magnetic surveying across the target. Some 376 grid soils were collected at Valley, with partially returned assay results revealing a 900 m x 150 m zone of elevated and anomalous soils. Four soil samples received to date returned greater than 1 g/t Au, to a maximum of 3.36 g/t Au.
Snowline Gold is a Yukon Territory focused gold exploration company with a seven-project portfolio covering more than 90,000 hectares. It is exploring its flagship 72,000 hectare Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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