Snowline GOLD Builds ON Near Surface Mineralization with 2.1 Grams PER Tonne GOLD over 433.5 M at Its Valley Deposit, Yukon and Initiates Clean-up Project ON Historical Mining Site
SNOWLINE GOLD BUILDS ON NEAR SURFACE MINERALIZATION WITH 2.1 GRAMS
PER TONNE GOLD OVER 433.5 M AT ITS VALLEY DEPOSIT, YUKON AND INITIATES
CLEAN-UP PROJECT ON HISTORICAL MINING SITE
• Hole V-24-081 returned 2.10 g/t Au over 433.5 m, including 3.42 g/t Au over 96.5
m and 3.20 g/t Au over 50.5 m, bolstering scale of high-grade, near-surface gold
mineralization at Snowline’s Valley deposit, Rogue Project
• Hole V-24-084 returned 1.31 g/t Au over 273.2 m, including 2.18 g/t Au over 120.7
m from surface, surpassing mineral resource estimate block model expectations near
the southeastern part of the Valley deposit
• Phase I reclamation work completed by Snowline at historical “Plata” staging area,
southwest of the Rogue Project, which supported 1980s mining activity in the area
from the Plata winter trail
• Assays remain pending for >24,600 m in 45 holes across 6 targets at Snowline’s
Rogue and Einarson projects.
Vancouver, B.C., October 10, 2024: SNOWLINE GOLD CORP ( TSX-V: SGD) (OTC:
SNWGF) (the “Company” or “Snowline”) is pleased to announce additional analytical results
from its 2024 Valley deposit drilling campaign on the Rogue Project in Canada’s Yukon
Territory alongside updates on its regional activities. Holes V-24-081 and V-24-084 returned
strong, consistent gold grades from near -surface along the southwestern edge of the Valley
deposit, outperforming the model used for the Company’s initial mineral resource estimate
(MRE) earlier this year. In addition, Snowline has completed the first phase of a reclamation
program at the Plata mining camp near the Rogue Project, organizing and inventorying debris
and abandoned equipment from historical mining activities in the region for future
demobilisation. The Company awaits analytical results from the majority of its 2024
exploration campaign, including >24,600 m of drilling in 44 holes across 5 different targets.
Drillhole
ID
Interval* (metres) Grade
(Au g/t) From To Width*
V-24-081 19.0 452.5 433.5 2.10
including 98.5 149.0 50.5 3.20
and including 239.0 335.5 96.5 3.42
V-24-084 3.8 277.0 273.2 1.31
including 3.8 124.5 120.7 2.18
with 9.5 42.0 32.5 3.65
“It is a testament to the consistency of mineralization at Valley that results like today’s have
become almost commonplace,” said Scott Berdahl, CEO & Director of Snowline. “Nonetheless,
they further demonstrate the strength of the system near surface, and key holes V -24-081 and
V-24-084 outperform our model along the southwest margin of the deposit.
Table 1 –Highlight summary of Snowline’s latest assay results ; see Table 2 for
details. *Interval widths reported ; true widths of the system at Valley are not yet
known.
“We are also pleased to report completion of the first stage of a meaningful side project – the
cleanup of the historical Plata s taging area, which supported small-scale mining efforts in the
region in the early 1980s. We would like to thank Honey Badger Silver Inc. and Archer, Cathro
& Associates for their assistance in these efforts. This work builds on Snowline’s commitment
to contribute to a lasting positive legacy for mining in the Yukon.”
VALLEY DRILLING, ROGUE PROJECT
Roughly 25,000 m have been drilled at Valley in 55 holes in 2024 (Figure 1) – nearly double
the amount of drilling (27,911 m) used to inform the Company’s initial MRE for Valley. Trace
instances of visible gold and widespread sheeted quartz vein arrays have been observed both
within and beyond the confines of the MRE. The Company awaits full assay results from the
2024 drill campaign to assess the significance of these observations and their impact on the
deposit.
Figure 1 – Plan map of drill results and progress on the Rogue Project’s Valley deposit, highlighting current results in drill holes V-24-
081 through V-24-087. Past analytical results are faded, while instances of visible gold in holes awaiting assay are marked by yellow
spheres. Drill holes with assays pending are labelled in blue.
Hole V-24-081
Hole V-24-081 is collared within the Valley intrusion, roughly 42 m east of V-23-053 and 73
m northwest of V-23-051. The hole is drilled to the northeast, as opposed to the more common
southwest orientation at Valley, to more effectively test local near -surface mineralization and
to get information from gaps in drilling at depth.
The hole runs through coarse -grained granodiorite for most of its length, with a zone of fine-
grained porphyritic granodiorite from roughly 336 m to 446 m downhole containing xenoliths
of granodiorite, hornfels and chert. A total of 121 instances of visible gold were noted along
the length of the hole during logging.
The results of this hole are expected to help upgrade and de -risk relevant areas of the initial
mineral resource estimate for Valley. Notably, the hole redefines the local, near -surface
southwest boundary of the intrusion, as the previous geological model (used to inform the
initial MRE at Valley) suggested V -24-081 would have collared into hornfels. The ultimate
effect of this result will be quantified along with analytical results of all subsequent holes in an
updated mineral resource estimate at a later time.
Figure 2 – Cross-section A-A’, showing V-24-081 in the context of the initial Valley MRE block model and MRE-constraining revenue factor
0.72 pit shell. The block model has not been updated to reflect the current results, nor any results to date from 2024, and blocks shown outside
of the current pit shell constraint are not included in the initial MRE for Valley. Instances of visible gold in holes still awaiting assay results are
marked by yellow spheres. The released holes are projected onto the same plane from a total width of roughly 50 m—relative positions can
be seen in the plan map in Figure 1.
Table 2 – Summary of significant mineralization returned from current holes on the Rogue Project. The consistency of strong mineralization in
the deposit is reinforced by the capped values in the rightmost column, wherein any assay result >10 g/t Au is replaced by 10.0 g/t Au to calculate
the average interval grades. *Interval widths reported; true widths of the system are not yet known, with different vein generations, orientations,
and grade distributions present within various intervals through the bulk tonnage gold target at Valley.
PLATA SITE CLEANUP
In September, Snowline completed the first phase of a site cleanup program at the historical
Plata staging area. Work consisted of documenting, inventorying , stockpiling and limited
removal of abandoned equipment and materials from historical exploration and mining activity
related to mining in the area primarily in the 1980s, which included small scale underground
silver mining. Stockpiled materials have been consolidated and prepared for future removal
from site.
The Plata staging area is located along an airstrip at the north end of the Plata winter trail
(Figure 4) roughly 8 km west of Snowline’s Rogue Pro ject. The site is strategically located ,
and Snowline has used the staging area in the past to support its own operations.
Figure 3 – Reclamation of historical Plata staging area for mining , exploration and other activities in the vicinity of
Snowline’s Rogue Project. Top: Debris prior to cleanup – remains of a burned-out trapper’s cabin at the site. Middle: Same
location following cleanup. Bottom: Abandoned vehicles, mining equipment and other non -combustible debris brought in
along the Plata winter trail are inventoried and organized for removal during a planned second phase of the cleanup.
QA/QC
On receipt from the drill site NQ 2-sized drill core was systematically logged for geological
attributes, photographed and sampled at Snowline’s “Forks” Camp. Sample lengths as small
as 0.5 m were used to isolate features of interest, but most samples within moderate to strong
mineralization were 1.0 m in length; otherwise, a default 1.5 m downhole sample length was
used. Core was cut in half lengthwise along a pre -determined line, with one half (same half,
consistently, dictated by orientation line where present or by dominant vein orientat ion where
absent) collected for analysis and one half stored as a record. Field duplicates were collected
at regular intervals as ¼ core samples by splitting the ½ core sent for sampling, leaving a
consistent record of half core material from duplicate and non -duplicate samples alike .
Standard reference materials and blanks were inserted by Snowline personnel at regular
intervals into the sample stream. Bagged samples were sealed with security tags to ensure
integrity during transport. They were delivered b y expeditor to Bureau Veritas’ preparatory
facility in Whitehorse, Yukon. Sample preparation was completed in Whitehorse, with analyses
completed in Vancouver.
Bureau Veritas is accredited to ISO/IEC 17025 and ISO9001 for quality management. Samples
were crushed by BV to >85% passing below 2 mm and split using a riffle splitter. 250 g splits
were pulverized to >85% passing below 75 microns. A four -acid digest with an inductively
coupled plasma mass spectroscopy (ICP-MS) finish was used for 59-element analysis on 0.25
g sample pulps (BV code: MA250). All samples were analysed for gold content by fire assay
with an atomic absorption spectroscopy (AAS) finish on 30 g samples (BV code: FA430). Any
sample returning >10 g/t Au was reanalysed by fire assay with a gravimetric finish on a 30 g
sample (BV code: FA530).
For the purposes of this release, contiguous mineralized intervals at Valley are defined as runs
of mineralization with no break >5.0 m assaying <0.1 g/t Au and may include any highlight
subsections thereof.
ABOUT ROGUE
Snowline Gold’s 100%-owned, flagship Rogue Project, in Canada’s Yukon Territory, covers
a 60 x 30 km cluster of intrusions in the eastern Tombstone Gold Belt known as the Rogue
Plutonic Complex.
Since its launch in 2021, Snowline has progressed the Rogue Project’s Valley target from a
greenfield prospecting discovery to a significant bulk tonnage gold resource, with 4.05 Moz
gold indicated mineral resource at 1.66 g/t Au and an additional 3.26 Moz inferred mineral
resource at 1.25 g/t Au within a pit -shell constraint. The resource estimate numbers are
supported by the recent technical report for Rogue, prepared in accordance with NI 43 -101
standards, entitled “ Rogue Gold Project: NI 43 -101 Technical Report and Mineral Resource
Estimate,” authored by Heather Burrell, P. Geo., Daniel J. Redmond, P. Geo. , and Steven C.
Haggarty, P. Eng., with an effective date of May 15, 2024.
Exploration of the open Valley system is ongoing. Valley is a reduced intrusion -related gold
system (RIRGS), geologically similar to multi-million-ounce RIRGS deposits currently in
production, like Kinross’s Fort Knox Mine in Alaska, but with substantially higher gold grades.
Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays
within and along the margins of a one -kilometer-scale, mid -Cretaceous aged Mayo -series
intrusion.
The Rogue Project area hosts multiple intrusions similar to Valley along with widespread gold
anomalism in stream sediment, soil and rock samples. Elsewhere, RIRGS deposits are known
to occur in clusters. For these reasons, Snowline considers the Rogue Project to have district-
scale potential to host additional reduced intrusion-related gold systems.
Figure 4 – Project location map for Snowline Gold’s eastern Selwyn Basin properties: Rogue, Einarson, Ursa, Cynthia
and Olympus. The Valley target is one of several prospective reduced intrusion -related gold targets on the broader
30 x 60 km Rogue Project . The Plata sta ging area is located at the northern end of the Plata winter trai l, which
connects to the government maintained North Canol Road.