SNOWLINE GOLD CORP. announced analytical results from the second and third holes of its 2023 drilling program at the Valley target on its Rogue Project in Canada'sYukon 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. 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 southeast 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 the 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. 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 the system at depth, where holes V-22-027 and V-22-028 returned long intervals of relatively consistent gold mineralization. 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 143.5 m interval at 2.92 g/t Au, 131 of 148 samples assayed higher than 1.0 g/t Au-representing 127.5 m (non-contiguous) or 89% of the downhole 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. 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. 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 grades. 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 intervals 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. The 509.0 m hole is entirely within granodiorite of the Valley intrusion, 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 averaged 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.