Snowline GOLD Intersects 414.5 M of 1.5 Grams PER Tonne GOLD from Surface Including 143.5 M of 2.9 Grams PER Tonne GOLD Extending Near- Surface Well-Mineralized Zone at Valley, Rogue Project, Yukon
SNOWLINE GOLD INTERSECTS 414.5 M OF 1.5 GRAMS PER TONNE GOLD FROM
SURFACE INCLUDING 143.5 M OF 2.9 GRAMS PER TONNE GOLD EXTENDING NEAR-
SURFACE WELL-MINERALIZED ZONE AT VALLEY, ROGUE PROJECT, YUKON
• Hole V-23-036 returned 2.92 g/t Au over 143.5 m within broader mineralized
interval averaging 1.53 g/t Au over 414.5 m from surface, extending near-surface,
multiple-gram-per-tonne corridor on the Rogue Project’s Valley discovery by 75 m to
the southeast
• Hole V-23-035 returned 1.01 g/t Au over 396.5 m from surface, demonstrating
robust near-surface mineralization to western margin of Valley intrusion
• Phase II drilling underway at the Rogue Project’s Gracie target, a potential intact
Valley-style gold system located in between the gold-bearing Valley and Reid targets
• Multiple generations of sheeted quartz veins along with bismuthinite identified within
an exposed intrusion on recently consolidated Cujo target within the Rogue Plutonic
Complex.
Vancouver, B.C ., July 18, 2023: SNOWLINE GOLD CORP. ( TSX-V: SGD) (OTC:
SNWGF) (the “Company” or “Snowline”) is pleased to announce analytical results from the
second and third holes of its 2023 drilling program at the Valley target on its Rogue Project in
Canada’s Yukon Territory. Hole V-23-036, drilled to test the southeast edge of Valley’s near-
surface corridor of multiple-gram-per-tonne gold mineralization, succeeded in expanding its
known extent roughly 75 m farther to the southeast. The hole averaged 2.92 g/t Au over 143.5
m from 23.5 m downhole, within a broader interval of 1.53 g/t Au over 414.5 m from bedrock
surface. In addition, hole V-23-035 expanded known mineralization to the western edge of the
Valley intrusion, returning 1.01 g/t Au over 396.5 m from bedrock surface . Analytical results
for all 17 holes (6,650 m) beyond V-23-036 at Valley are pending , with drilling at Valley
ongoing.
“Today’s results highlight the significant exploration upside present within the broader
footprint of last season’s widely spaced, first-pass drilling of the Rogue Project’s Valley target,”
said Scott Berdahl, CEO & Director of Snowline. “This is particularly true when it comes to
Valley’s extensive zone of near-surface, multiple -gram-per-tonne gold mineralization. The
gold grades and continuity in V-23-036 add a large tonnage of potentially high -value rock to
this zone, which remains open further to the southeast . In addition, the breadth of the
Drillhole
ID
Interval* (metres) Grade
(Au
g/t) From To Width*
V-23-036 4.0 418.5 414.5 1.53
including 23.5 167.0 143.5 2.92
V-23-035 20.0 416.5 396.5 1.01
Table 1 –Highlight summary of Snowline’s latest assay results. *Interval widths
reported; true widths of the system are not yet known.
mineralized interval in V-23-035, drilled from the western margin of the intrusion, highlights
the breadth of strong mineralization present outside of the highest -grade core at Valley, both
laterally and to depth. This has strong favorable implications for a favourable strip ratio , low
internal dilution, and of course overall gold content in any potential future operation at Valley.
With our exploration season still ramping up, we are encouraged by these early results, and we
look forward to additional results from Valley as well as from additional targets.”
Figure 1 – Plan view of the Rogue Project’s Valley target showing analytical results from previous and current drilling, along with approximate
traces of current holes. The higher grades encountered at the top of V-23-036 extend the broad, NW-SE corridor of near-surface, multiple-gram-
per-tonne gold mineralization by roughly 75 m to the s outheast of the section containing V -22-014 and V -22-007. Hole V-23-035 extends the
known limit of mineralization to the southwest, and demonstrates strong, continuous gold mineralization along the margin of t he higher-grade
zone. Given the overhead perspective, the bottom of V-23-035 appears to interrupt higher-grade mineralization seen in V-23-007 and V-23-034,
but these results are several hundred metres below the mineralization in these holes. Better context is given by Figure 3, showing section A-A’.
HOLE V-23-036
Hole V-23-036 is collared within the Valley intrusion, along strike with and now recognized
as part of the extensive, near-surface, >2 g/t Au corridor discovered at Valley in 2022. The hole
is a 75 m step-out along strike from the mineralization encountered in V -22-007 (410.0 m @
1.89 g/t Au from surface including 146.0 m @ 3.24 g/t Au, see Snowline news release dated
November 15, 2022) and V-22-014 (285.2 m @ 1.45 g/t Au including 128.2 m @ 2.48 g/t Au
from surface, same news release). Previous drilling in the vicinity of the collar site only tested
Figure 2 – Cross-section B, showing results received (top) and vein densities alongside instances of visible gold observed
during logging (bottom). Note that V-22-027 is in the foreground of the section, while V-22-028 is in the background.
the system at depth, where holes V-22-027 and V-22-028 returned long intervals of relatively
consistent gold mineralization (Figure 1).
The hole intersected abundant sheeted quartz veins in granodiorite, with multiple generations
of gold-bearing quartz veins observed . The entire hole is mineralized, returning 1.53 g/t Au
over 414.5 m from bedrock surface at approximately 4.0 m downhole depth, including a higher-
grade interval of 2.92 g/t Au over 143.5 m from 23.5 m downhole. The hole exits the intrusion
at 407.6 m downhole. It ends in low to moderate gold mineralization, with the final 20.0 m
averaging 0.43 g/t Au.
Within the 1 43.5 m interval at 2.92 g/t Au, 1 31 of 148 samples assayed higher than 1.0 g/t
Au—representing 127.5 m (non-contiguous) or 89% of the downho le interval. Only a single
assay within this interval —1 m downhole distance —returned a value <0.5 g/t Au at 0.49 g/t
Au. While high grades of up to 20.70 g/t Au are present, they are not primary drivers of the
broader mineralized intervals. Applying a cap at 10 g/t Au reduces the average grade of the
414.5 m hole by just 1.9% from 1.53 g/t Au to 1.50 g/t Au, with a similarly subtle effect on
sub-intervals (Table 2).
Results from V-23-036 expand the known extent of near surface, >2 g/t Au mineralization at
Valley and further demonstrate strong continuity of mineralization at Valley.
Table 2 – Summary of mineralization observed in current holes. The consistency of strong mineralization 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 grade s. The high results
demonstrate uniform gold mineralization that is not “smeared” across a given interval by isolated high-grade samples. *Interval widths reported;
true widths of the system are not yet known , with different vein generations, orientations and grade distributions present within various inter vals
through the bulk tonnage gold target at Valley.
HOLE V-23-035
Hole V-23-035 is collared near the southwestern boundary of the Valley intrusion, over 130 m
from the nearest previous hole (V-22-028; 363.5 m @ 1.40 g/t Au) and collared farther to the
southwest than any other hole at Valley to date. Drilled towards the northeast, it tests near-
surface mineralization near the southwest edge of the intrusion and mineralization at depth
beneath Valley’s well-mineralized near-surface corridor.
Figure 3 – Cross-section A, showing results received (top) and vein densities alongside instances of visible gold observed
during logging (bottom).
The 509.0 m hole is entirely within granodiorite of the Valley intrusi on, with dominantly
moderate quartz vein densities throughout. It returned a consistent initial intersection of 396.5
m averaging 1.01 g/t Au from bedrock surface at 20.0 m downhole. Below this, from 429.0 m
downhole, a separate mineralized interval averag ed 0.44 g/t Au over 40.1 m. The hole ended
in weak, intermittent mineralization, with the final 3.5 m averaging 0.23 g/t Au.
Such robust, >1 g/t Au, gold grades encountered in V -23-035 along the southwest margin of
the known mineralized system provide strong support for the idea of a single, large, recoverable
body of gold mineralization at Valley with a very low strip ratio and minimal internal dilution.
EXPLORATION UPDATE
Valley Target Drilling, Rogue Project
The 10,000+ m drill program at the Rogue Project’s Valley discovery is ongoing, with two drill
rigs active on site. To date, > 8,000 m has been drilled on the Valley target in 2023, wit h 18
holes completed, an additional 2 holes in progress, and significant additional drilling planned.
Analytical results for all but 3 holes drilled at Valley in 2023 are pending.
Gracie Target Drilling, Rogue Project
A 2,000+ m diamond drill program is underway at Gracie, with the commencement of drilling
on G-23-006. The Phase II program will begin with 4 drill holes, building on the results of
2022 Phase I drilling. The 2022 program confirmed the presence of a reduced intrusion-related
gold system (RIRGS) along with gold -bismuth-tellurium mineralized quartz veins oriented
parallel to the dominant mineralized vein set at the Valley target. It also provided a potential
vector towards the heat source; the current program will test for the presence of an intrusion to
the northwest of the 2022 drill holes.
Gracie is an unexposed RIRGS target. Unlike the RIRGS at the Valley target, which is partially
eroded, a mineralized system at G racie would be completely intact, presenting an attractive
exploration target roughly 4 km from the edge of the Valley intrusion to its west, and a similar
distance from the gold-bearing Reid intrusion to its east.
Cujo Target, Rogue Project
Surface work a t the Rogue Project’s recently consolidated Cujo target (Figure 5) identified
multiple generations of sheeted quartz veins within an exposed intrusion of the Rogue Plutonic
Complex. Instances of bismuthinite and associated bismuth and tellurium minerals, which are
strongly correlated to gold mineralization at the Valley target, are present in the veins.
A recent grab sample of float material from hornfels northwest of the Cujo intrusion returned
63.8 g/t Au, while grab samples of quartz vein material from within the intrusion assay from
<50 ppb Au to 12.8 g/t Au. Limited historical drilling of the target conducted in 1996 returned
an intersection of 1.02 g/t Au over 13.6 m. These results have not been verified by the company,
but historical pad sites have been relocated by field crews.
Cliff Project Drilling
Outside of Rogue, a Phase I drill program using a fourth drill is underway at the Company’s
Cliff Project in the southwest Yukon. Cliff covers a series of previously untested orogenic gold
targets in the vicinity of a prolific placer district that has seen continuous placer gold production
from various creeks for more than a century. No obvious source to this mineralization has been
located to date.
QA/QC
On receipt from the drill site, Valley’s NQ 2-sized drill core was systematically logged for
geological attributes, photographed and sampled at Snowline’s 202 3 field 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) 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 se curity tags to
ensure integrity during transport. They were delivered by expeditor to Bureau Veritas ’
Figure 4 – Intrusive host and veining style at Valley (left) and Cujo (right). Coarse grained granodiorite with fine -grained
biotite rich xenoliths (outlined by white dashed lines). Sericite-chlorite alteration and quartz -calcite-bismuthinite-scheelite
veins. A) Core samples from hole V-23-036 at the Valley target, 5 to 8 meters depth. B) Surface sample from the Cujo target.
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).
All standard reference materials and blanks inserted into the sample streams for the two holes
returned values within acceptable limits.
ABOUT ROGUE
The Valley target on Snowline’s flagship Rogue Project is a newly discovered, bulk tonnage
style, reduced intrusion -related gold system (RIRGS), with geological similarities to multi -
million-ounce deposits currently in production such as Kinross’s Fort Knox Mine in Alaska
and Victoria Gold’s Eagle Mine in the Yukon. Early drill results demonstrate unusually high
gold grades for such a system , present near surface across drill intersections of hundreds of
metres. 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-
suite intrusion. Valley is an early -stage exploration project without a resource estimate, and
while initial results are encouraging, the presence or absence of an economically vi able
orebody cannot be determined until additional work is completed.
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. The Rogue Project is thus considered by the Company to have district -
scale potential for additional reduced intrusion-related gold systems.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration com pany with an eight-
project portfolio covering > 333,000 ha. The Company is exploring its flagship >94,000 ha
Rogue gold project in the highly prospective yet underexplored Selwyn Basin. Snowline’s
project 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 ’s first-mover land position and extensive
database provide a unique opportunity for investors to be part of multiple discoveries and the
creation of a new gold district.