SNOWLINE GOLD CORP SNOWLINE GOLD CORP (TSX-V: SGD)(OTCQB:SNWGF) (the 'Company' or '
Both holes-drilled to the northeast as opposed to the usual southwest orientation of holes at Valley-demonstrated consistent and considerable widths of strong mineralization in different parts of the system. Hole V-23-054 returned 424.0 m of 1.43 g/t Au, downhole from bedrock surface, expanding the known width of mineralization across the southern extent of the well mineralized zone at Valley. In a separate interval in the same hole, the final 30.0 m downhole length averaged 0.70 g/t Au, representing a newly recognized area of deep mineralization at Valley that remains open. Both holes ended in mineralization. Assays for more than 11,400 m of diamond drilling from
'The current set of drill results includes yet another hole, in yet another part of the Valley intrusion, that expands the extent of known mineralization with an unusually high-grade intersection for a reduced intrusion-related gold system carried over hundreds of metres from surface,' said
HOLE V-23-054
Hole V-23-054 is collared in coarse-grained granodiorite within the Valley intrusion as an 84 m step along strike to the southeast of the nearest hole, V-22-028 (363.5 m @ 1.40 g/t Au from surface including 129.9 m @ 2.03 g/t Au, see
From bedrock surface at 23.5 m downhole, an interval of continuous mineralization averages 1.43 g/t Au over the next 424.0 m, with a zone of generally higher grades averaging 1.85 g/t Au over 186.5 m from 66.0 m downhole. Two notable higher-grade zones average 4.73 and 4.79 g/t Au over 7.5 m and 9.0 m respectively, from 202.0 and 305.5 m downhole. A second mineralized interval begins 9.0 m downhole from the end of the first and continues to the end of the hole at 497.0 m depth, averaging 0.54 g/t Au over 40.5 m and ending in mineralization. The final 30 m of the hole average 0.70 g/t Au. As with previous holes at Valley, mineralization within these intervals is remarkably consistent. Capping values at 10 g/t Au drops the overall grade of the first interval by just 0.73% from 1.43 g/t Au to 1.42 g/t Au, and does not affect the grade of the second interval.
The results of V-23-054 demonstrate a robust width to strong grades in the southeastern part of the well-mineralized, near-surface corridor at Valley. In addition, the mineralization and grades seen in the bottom of the first interval and through the second interval reveal a new and open zone within the Valley intrusion where strong, consistent gold grades are present at depth.
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CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including statements regarding the significance of analytical results, the relationship between vein densities, visible gold and resultant analytical gold grades, the discovery potential within the Valley intrusion, the potential for investors to participate in multiple future discoveries, the Rogue project having district-scale prospectivity, the creation of a new gold district and the Company's future plans and intentions. Wherever possible, words such as 'may', 'will', 'should', 'could', 'expect', 'plan', 'intend', 'anticipate', 'believe', 'estimate', 'predict' or 'potential' or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things: risks related to uncertainties inherent in drill results and the estimation of mineral resources and risks associated with executing the Company's plans and intentions. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
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