Snowline Gold Corp has said it is encouraged with the findings from the first hole of 2022 drilled at the Valley zone at the firm's Rogue project in the Yukon, which has hit mineralization from surface.
Valley is one of at least five bulk-tonnage gold targets at the Rogue project and Snowline says the geology there has similarities to Kinross's Fort Knox mine in Alaska and Victoria Gold's Eagle mine in the Yukon.
The hole in question (which is still being drilled) at the Valley zone encountered thin sheeted quartz veins through to at least its current depth of 233 metres (m) as of June 12, said Snowline, while seven separate veins hosting visible gold were observed between 39m and 220m depth.
"Hole V-22-005 was designed to get a better sense of the width of the sheeted quartz vein arrays that constitute the Valley Zone," Snowline CEO Scott Berdahl said in a statement.
READ: Snowline Gold kicks off 2022 drilling at its flagship Yukon gold projects
"That we encountered mineralization at surface is encouraging, as this expands the known surface width of the Valley Zone by roughly 150 metres, and the width remains open," he added.
"The true significance of the mineralization awaits assay results, but we are pleased to see this initial demonstration of scale. Subsequent holes will begin to test the strike length and depth of the mineralized system."
Assays for the hole (V-22-005) are still pending, noted the company, which added: "While the company finds these visual results to be encouraging, it cautions that the significance of the observations reported herein will not be known until assays are received and reviewed."
Snowline is a Yukon Territory-focused gold exploration company with a seven-project portfolio covering more than 106,000 hectares (ha). Its portfolio sits within the prolific Tintina gold province, host to multiple million-ounce-plus gold mines and deposits, including Kinross’ Fort Knox mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle mine.
The company is presently exploring its flagship 72,000-hectare Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin.
Contact the author at giles@proactiveinvestors.com