Snowline Gold Corp. (CSE:SGD) has provided impressive additional initial drill results from Phase I drilling at the Valley zone on its Rogue gold project in the Yukon Territory, in Canada.
The Vancouver-based, Yukon Territory-focused gold exploration company said Hole V-21-001 intersected a broad zone of high gold values associated with visible gold in sheeted vein arrays. The hole averaged 1.27 grams per tonne (g/t) gold (Au) uncapped over 108.0 meters (m) from 19.5m downhole, within a broader zone of mineralization averaging 1.09 g/t Au over 135m from 5m downhole.
Snowline said the results build on the January 25 assay results for Hole V-21-002 of 1.01 g/t Au over 136.8m, demonstrating encouraging grade continuity in the mineralized system.
READ: Snowline Gold makes second 'significant' gold discovery in the Yukon at Valley target
In reference to V-21-001, the company said localized hot spots of up to 22.6 g/t Au (over 0.4m) were present in the mineralized interval, particularly in the top 45m of the hole, but overall grades are otherwise relatively consistent. With grades capped at 10 g/t Au, the top two intervals return 1.00 g/t Au over 135m and 1.17 g/t over 108.
"This second set of drill results confirms the tenor of the Valley discovery. We are excited to see such consistent mineralization within and between our first two holes. This is a very strong start and gives us a lot to build on in the upcoming 2022 exploration season,” Snowline CEO Scott Berdahl said in a statement.
“Given the scale of the associated soil anomaly and the distribution of sheeted vein arrays we have seen on surface, there appears to be a lot of high potential ground to explore as we test the extents of this mineralized system. My congratulations again to the Snowline technical team on their second significant drill discovery in our first field season-this is a remarkable achievement," he added.
Drill hole V-21-001 totaled 161m in length and averaged 0.95 g/t Au over the full 160.5m (excluding the top 0.5m of overburden which was not assayed), said the firm. The hole ended in elevated to anomalous gold mineralization, with the final 7m of drilling averaging 0.34 g/t Au, including 1.65 g/t Au over 0.55m from 159m carrying trace visible gold.
The Valley is interpreted to be a reduced intrusion related gold system (RIRGS). Elsewhere, RIRGS gold deposits are known to form important commercial gold resources, including Victoria Gold Corp (TSX-V:VIT)'s Eagle Mine in the Yukon and Kinross Gold Corp’s Fort Knox Mine in Alaska. Both deposits are hosted in intrusive rocks thought to be associated with those at Valley.
Valley is currently a discovery-stage bulk-tonnage prospect with no estimated resources nor reserves.
Meanwhile, the company said that assay results for V-21-003 and V-21-004 have yet to be received. Both remaining holes at the Valley intersected trace amounts of visible gold in drill core along with extensive zones of sheeted quartz veins. Full results are expected in the coming weeks.
Significantly, with over C$8.6M in the treasury, Snowline is gearing up for a busy 2022 exploration season which will see at least two drills turning on an over 8,000m program focused on the Jupiter and Valley discoveries and nearby targets.
Snowline has a diamond drill under contract and on site at the Valley, overwintering for a quick and cost-effective resumption of drilling in Spring 2022, said the company. A “3000+ m drill program is planned at Valley” to establish the scale and continuity of the mineralized zone, said the company.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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