Snowline GOLD Drills 471.6 M of 2.4 Grams PER Tonne GOLD from Surface and 325.0 M of 2.6 Grams PER Tonne GOLD from Surface, Highlighting Strong Grade Continuity at Its Valley Deposit, Rogue Project
SNOWLINE GOLD DRILLS 471.6 M OF 2.4 GRAMS PER TONNE GOLD FROM SURFACE
AND 325.0 M OF 2.6 GRAMS PER TONNE GOLD FROM SURFACE, HIGHLIGHTING
STRONG GRADE CONTINUITY AT ITS VALLEY DEPOSIT, ROGUE PROJECT
• Hole V-24-075, drilled at 180 degrees to recent highlight hole V-24-072, returned
471.6 m averaging 2.38 g/t Au, including 302.1 m of 3.20 g/t Au from surface,
surpassing initial Valley deposit MRE block model grade predictions by +9%
• Hole V-24-073 returned 325.0 m averaging 2.57 /t Au, including 136.0 m
averaging 4.84 g/t Au from surface, slightly outperforming the model near surface
• Widespread alteration and associated oxide + sulphide mineralization along with
granodiorite dikes seen in first-ever drilling of Aurelius target, Rogue Project
• Updated NI 43-101 technical report filed for Snowline’s Einarson Project, Yukon.
Vancouver, B.C ., August 7, 2024: SNOWLINE GOLD CORP ( TSX-V: SGD) (OTC:
SNWGF) (the “ Company” or “ Snowline”) is pleased to announce analytical results from
additional early-season drill holes on its 202 4 exploration campaign and to provide an
exploration update from its ongoing 5 -drill program in Canada’s Yukon Territory. Highlight
intervals from the Valley deposit are summarized in Table 1 below. Holes V -24-075 and V -
24-073 are the third and fourth highest ranking holes in terms of contained gold from the Valley
deposit to date, with V -24-075 exceeding projections based on the initial mineral resource
estimate (MRE) by 9% within the resource -limiting pit shell and by 140% outside of it (18%
overall). At the Rogue Project’s Aurelius target, widespread alteration with oxide and sulphide
mineralization is present in volcanic and sedimentary rocks, with granodiorite dikes intersected
in two holes in the first ever drill testing of the target. Drilling is ongoing at Valley and on other
targets, with assays pending for an additional 15,600 m drilled to date.
“We had extremely high expectations for these latest holes at Valley, and they did not
disappoint,” said Scott Berdahl, CEO & Director of Snowline. “Based on the block model from
our initial mineral resource estimate, we would expect a run of 448 m averaging 2.1 g/t Au for
hole V-24-075. We meaningfully exceeded this target in both length and grade, with the hole
averaging 2.38 g/t Au over the top 471.6 m from bedrock surface, and with an internal interval
of 6.48 g/t Au over 22.0 m from 160.0 m downhole exceeding the grade of anything we had
Drillhole
ID
Interval* (metres) Grade
(Au g/t) From To Width*
V-24-075 3.0 474.5 471.6 2.38
including 3.0 305.0 302.1 3.20
with 160.0 182.0 22.0 6.48
V-24-073 2.0 327.0 325.0 2.57
including 2.0 138.0 136.0 4.84
with 55.5 88.5 33.0 7.08
Table 1 –Highlight summary of Snowline’s latest assay results . Note that the
headline interval for V -24-075 comprises two intervals separated by 7 m zone of
<0.1 g/t Au; see Table 2 for details. *Interval widths reported ; true widths of the
system are not yet known.
predicted. The results exceed the block model most dramatically outside of the current resource
estimate boundary. We expect that this demonstration of robust continuity and of viability in
our modelling will assist with de-risking and upgrading mineralization, and it could potentially
help to expand our resource-limiting pit shell, pending additional results from our ongoing
drilling at Valley.”
VALLEY DRILLING, ROGUE PROJECT
Drilling at the Rogue Project’s Valley deposit is ongoing. To date, roughly 13,600 m have been
drilled at Valley in 28 holes in 2024 (Figure 1). Trace instances of visible gold and sheeted
quartz vein arrays have been observed both within and beyond the confines of the current,
initial MRE for Valley. The Company awaits additional assay results from the ongoing drill
campaign to assess the significance of these observations and their impact on the MRE.
Figure 1 – Plan map of drill results and progress on the Rogue Project’s Valley deposit , highlighting current results in drill holes V -24-
073 through V-24-075. Past analytical results are faded, while instances of visible gold in holes awaiting assay are marked by yellow
spheres.
Hole V-24-075
Hole V-24-075 is collared within the Valley intrusion, from the same location as recent hole
V-24-072 (404.8 m @ 2.27 g/t Au including 100.8 m @4.67 g/t Au from bedrock surface, see
Snowline news release dated July 24, 2024 ) but in the opposite direction —to the northeast
instead of the southwest (Figure 2). The hole was drilled in this orientation to provide infill in
its upper portions and exploration along the northeast margin of the system in its lower portions.
It remains primarily in coarse-grained granodiorite, the dominant phase of the intrusion, for the
length of the hole.
The hole averages 2.38 g/t Au over 4 71.6 m, with the top 302.1 m continuous interval from
bedrock surface (at 3.0 m downhole) averaging 3.20 g/t Au. Within this, a 22.0 m interval from
160.0 m downhole averages 6.48 g/t Au. Gold grade continuity is a primary feature of the hole,
and as with many holes drilled at Valley, the highest grades are near surface. Owing to this
consistency, applying a 10 g/t Au cut-off has a limited effect on results, with the top 302.1 m
interval only dropping 2.6% from 3.20 g/t Au to 3.12 g/t Au overall (Table 2).
Figure 2 – Cross-section A-A’, showing V-24-073 through 075 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, 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 awaiting assay results are
marked by yellow spheres. The released holes are projected onto the same plane from a total width of roughly 100 m—relative positions
can be seen in the plan map in Figure 1. Hole V-24-074 is collared as a 200 m step-back from V-23-045, to assess block model data voids.
In weighting observed grades by sample distance —effectively the amount of gold contained
within the drill core —versus that predicted for the hole by the Company’s initial mineral
resource estimate, the results outperform the MRE by 18% overall, and by 9% w ithin the top
322 m downhole from bedrock surface. V-24-075 exits the current MRE pit -constraint at
approximately 322 m downhole, and thus all mineralization below this point, including 152.5
m of the 163.5 m downhole interval averaging 0.94 g/t from 311.0 m downhole (Table 2) are
outside of the space considered in the present, initial MRE, outperforming the block model for
this area by 140% . 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 4 – Select instances of visible gold in V-24-075, at 33.3 m, 228.5m and 418.2 m downhole. As with other holes at Valley, gold is present
in V-24-075 within multiple generations of quartz vein s, occurring primarily as native gold and commonly associated with trace to minor
bismuthinite. 221 different veins throughout the 485.0 m length of V-24-075 were observed to host trace visible gold.
Figure 3 – Mineralization in V-24-075. Quartz carbonate veins cut through relatively unaltered granodiorite . Orange and blue flags denote
observations of trace visible gold within the drill core, with the gold itself hosted in the veins. The 8.0 m downhole interval shown from 117.0
m to 125.0 m downhole averages 6.56 g/t Au. While such grades are among higher values for the hol e (see Table 2), the image is
representative of mineralization throughout the hole and across much of the rest of the Valley gold deposit, with a higher abundance of veins
generally corresponding to higher gold grades.
Hole V-24-073
Hole V-24-073 is also collared in the Valley intrusion , as just the second hole in a new 50 m
“fence” across the Valley deposit. It is located 54 m from and nearly on strike with V-23-039
(553.8 m @ 2.48 g/t Au from surface including 132.0 m @ 4.98 g/t Au, see Snowline news
release dated August 3, 2023 ). The only other complete, non-metallurgical hole currently on
section with V-24-073 is V-23-066 (383.0 m @ 2.00 g/t Au including 107.5 m @ 3.95 g/t Au
from surface, see Snowline news release dated January 15, 2024), collared roughly 64 m to the
northeast. (A PQ-sized metallurgical hole was drilled from the collar site of V -23-066 late in
the 2023 field season.) The hole begins in the high -grade, near surface zone of gold
mineralization and ends at 647.0 m shortly after exiting the intrusion through a 49.0 m zone of
dikes and intrusive breccia into surrounding hornfels from 568 m to 617.0 m downhole.
The first continuously mineralized interval in V-24-073 averages 2.57 g/t Au over 325.0 m,
including 136.0 m at 4.84 g/t Au from bedrock surface at 2.0 m downhole, with a 33.0 m stretch
of mineralization averaging 7.08 g/t Au from 55.5 m downhole (Table 2). This high grade, near
surface zone is consistent with those seen in surrounding holes, demonstrating strong continuity
of multiple gram-per-tonne gold mineralization within this high-level zone at Valley. The top
584.0 m of the hole from bedrock surface, including barren intervals, averages 1.68 g/t Au.
Table 2 – Summary of significant mineralization returned from current holes at Valley. 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. V-24-073A was aborted at 49.5 m downhole due to an incorrect dip and was redrilled as V -24-073
from the same location. Note that the headline interval for V-24-075 is a combination of two separate mineralized intervals separated by
a small (6 m) gap below <0.1 g/t Au. *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.
EXPLORATION UPDATES
Snowline currently has three drill rigs active on regional targets in the vicinity of Valley: one
each on the Rogue Project’s reduced intrusion-related gold system (RIRGS) Reid and Sydney
targets, and one on the Einarson Project’s Jupiter orogenic gold target. To date in 2024 , 1,184
m has been drilled in 3 holes at Aurelius and 2,407 m has been drilled in 6 holes at Jupiter,
while Phase II drilling has recently commenced at Reid and Phase I drilling is scheduled to
begin imminently at Sydney. Including the 1,067 m, 3-hole Phase II program completed earlier
in the season at Cujo, assays are currently pending for more than 4,600 m on regional targets.
Aurelius Target, Rogue Project
A 3-hole, 1,184 Phase I drilling program has recently been completed at the Aurelius target,
representing the first-ever drill testing of the recently delineated target. Widespread clay and
silica alteration and zones of brecciation cemented by pyrite and minor chalcopyrite are present
in drill holes at Aurelius, along with strong, pervasive oxidation to roughly 70 m vertical depth
(Figure 8).
At Aurelius, a thick unit of lapilli tuff appears to be a receptive host to fluids thought to be
associated with an RIRGS system. Zones of mineralization observed in drill holes correspond
in alteration style and host rock lithology to the mineralized trenches reported from the Aurelius
target earlier this year (see Snowline news release dated February 20, 2024 ). Of note, holes
AU-24-001 and AU-24-003 also encountered metre-scale granodiorite dikes with equigranular
and porphyritic textures.
Assays for all holes (1,184 m) at Aurelius are pending. The drill rig is currently mobilizing for
the first-ever drill testing of the Sydney RIRGS target on the Company’s 100% owned Cynthia
Project, south of the Rogue Project (Figure 9). A follow-up Phase II drill program at the
Aurelius target may follow later in 2024, pending analytical results from the current drilling.
Figure 5 – Plan map of drill traces from Phase I drilling at the Rogue Project’s Aurelius target, plotted on geology,
geochemistry, and high -resolution shaded surface relief. The location of this figure within the broader Aurelius target
geochemical anomaly can be seen in Figure 6.