Snowline Gold Corp. announced analytical results from additional exploration holes drilled during its 2023 exploration campaign in Canada'sYukon Territory. Hole V-23-064 returned 2.15 g/t Au over 308.8 m downhole, including 3.23 g/t Au over 180.3 m from surface, demonstrating strong consistency of near-surface, multiple-gram-per-tonne-gold mineralization within a gap in previous drilling at the Rogue Project's Valley target.

Holes V-23-062 and V-23-063 were drilled in the northwestern part of the target and add dimensionality and consistency to known mineralization in that direction. Assays for more than 3,850 m of diamond drilling from Snowline's 2023 exploration efforts are forthcoming. Hole V-23-064 is collared in coarse-grained granodiorite within the Valley intrusion roughly 66 m north of the nearest hole, V-22-014 (285.2 m @ 1.45 g/t Au including 128.2 m @ 2.48 g/t Au from surface) and 85 m southeast of V-23-039 (553.8 m @ 2.48 g/t Au including 183.3 m @ 4.34 g/t Au from surface) The hole commences in strong, sheeted gold-bearing quartz vein mineralization (Figure 2) from bedrock surface at 3.2 m downhole and continues in predominantly strong mineralization until approximately 188 m downhole, near where the hole intersects a central, valley-parallel fault at 170 m downhole.

Quartz vein densities and occurrences of visible gold drop off below the fault, but lower grade mineralization continues until the hole exits the intrusion into hornfels sedimentary rocks 309 m downhole. Multiple gold-bearing quartz vein orientations are present, with a dominant sheeted vein array striking northwest and steeply dipping to the northeast, as commonly seen in the primary mineralized zone at Valley. Overall, the top 308.8 m downhole from bedrock surface averages 2.15 g/t Au, with an internal interval of 180.3 m averaging 3.23 g/t Au also beginning from surface.

Within this, the higher grades are seen at or near surface, with the top 68.3 m downhole averaging 5.03 g/t Au. The presence of such high and consistent gold grades beginning at surface in a large gap in previous drilling further de-risks the mineral system at Valley, demonstrating strong continuity within the well-mineralized zone. Both V-23-062 and V-23-063 from part of a fence of holes across the northwestern part of the well-mineralized, near-surface corridor within the Valley intrusion.

Both holes are collared in coarse grained granodiorite and continue in coarse grained granodiorite, with minor xenoliths and dikes of finer-grained intrusive rock, until exiting into hornfels sedimentary rocks from the southwestern edge of the intrusion. The two holes exhibit the strongest mineralized intervals seen thus far within that fence, demonstrating the strength and scale of the system in this area. V-23-062 averages 1.41 g/t Au across 417.0 m downhole from bedrock surface (at 4.5 m downhole), with an internal interval of 2.25 g/t Au over 110.0 m, including 3.0 m averaging 16.83 g/t Au.

V-23-063 averages 1.59 g/t Au over 342.0 m from bedrock surface (also at 4.5 m downhole), with an internal interval of 2.00 g/t Au over 189.5 m from 21.0 m downhole. Despite localized higher grades in both holes, mineralized intervals are carried by consistently anomalous gold values, as indicated by the high remainder values (excluding higher grade sub-intervals) along with the high capped values (limiting any assay to a maximum of 10 g/t Au). Both V-23-062 and V-23-063 add breadth to the known extent of near-surface >1 g/t Au and > 2 g/t Au mineralization in the northwest part of the Valley gold system, which remains open.