Snowline Gold Corp. (CSE:SGD) has posted encouraging early drill results from this year's program at its Valley discovery at the Rogue project in the Yukon, which show the potential to expand the system.
One of the holes, for which assays were released, hit 2.30 grams per ton (g/t) gold, starting at bedrock surface, over a long length of 282.9 metres (m).
That included an intercept of more than 146m from 56m depth at 3.24 g/t of the yellow metal. Results for the final 127m of the hole's depth are still pending.
"Our initial assay results demonstrate increasing scale and fertility in the Valley Zone," said Scott Berdahl, CEO of Snowline in a statement.
He said the firm had "encountered grades and intervals greater than those of our discovery holes last season" associated with unusually high quartz vein densities that are present across a large area.
READ: Snowline Gold 'very encouraged' by scale of mineralized system at Rogue project in the Yukon
"The presence of consistent grades from near surface is also encouraging as it improves the potential economics of the prospect," he added.
Another hole at Valley returned 1.52 g/t gold over 192m from 132m downhole, within a broad interval of 1.03 g/t gold over 331.3m from bedrock surface to the end of hole, said Snowline.
Also in the statement, the company reported that the first-ever drilling at the Gracie Zone at Rogue had started, with visible gold observed in the first hole.
This hole hit silicification and mostly light to locally moderate quartz veining, with three instances of visible gold, said the company.
The geological setting and style of mineralization at the Rogue project's Valley Zone indicate the presence of a bulk tonnage gold target, with similarities to Kinross' Fort Knox mine in Alaska and Victoria Gold's Eagle mine in the Yukon, says Snowline.
Valley is an early-stage exploration project without a resource estimate. Two drills are currently active there with 6,750m drilled on the target so far this season and 7,554m total drilled to date.
Snowline Gold is a Yukon Territory focused gold explorer with a seven-project portfolio covering over 127,000 hectares.
Contact the author at giles@proactiveinvestors.com