Snowline Gold Corp announced that geochemical assay results received from late season 2021 contour soil and talus fine sampling at its Rogue project in Canada’s Yukon Territory reveal a “large” 5.1 kilometre (km) zone of anomalous gold values of up to 1.7 grams per tonne (g/t) gold.
The company said the samples were located on top of, and around, a probable, near-surface, gold-bearing intrusion at the Gracie target.
“These results add to strong evidence that Gracie could host a large and fertile reduced-intrusion related gold system,” Snowline Gold CEO Scott Berdahl said in a statement.
READ: Snowline Gold expands Valley gold mineralization after additional surface sampling results from its Ridge zone in Yukon, Canada
“What excites us about this-beyond the potential to duplicate our Valley discovery-is that the intrusion at Gracie hasn't been exposed by erosion,” Berdahl added.
Snowline noted the intact carapace at Gracie, at the top of the intrusion, presents a high-priority drill target for 2022, as it is adjacent and complementary to the company's 2021 Valley and Ridge discoveries.
As well, the company said it expects additional surface sampling and geological mapping at Gracie will provide further context for magnetic and geochemical results to assist potential drill targeting.
Snowline added that it is planning a 3,000 metre drill program at Valley in 2022.
The company also reported that its board of directors has granted a total of 350,000 incentive stock options to various Snowline Gold employees in connection with recent appointments. The options are exercisable for one share each at $0.80 per share for a period of five years from March 8, 2022.
Snowline Gold is a Yukon Territory-focused gold explorer with a seven-project portfolio covering over 100,000 hectares (ha).
The flagship asset is the 72,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin.
Contact Sean at sean@proactiveinvestors.com