Snowline Gold Intersects 6.0 g/t Gold Over 101 Meters at Valley Deposit
Snowline Gold Corp. (TSXV: SGD) has announced the results from its 2024 drilling campaign at the Valley deposit within the Rogue Project, located in the mineral-rich Yukon Territory, Canada. Among the notable discoveries, Hole V-24-078 returned a striking assay of 4.05 grams per tonne (g/t) gold over a 244.9-meter interval, including 101.0 meters of 6.0 g/t gold, marking one of the highest sustained grades encountered at the deposit to date.
These results highlight the significant potential of the Valley deposit and reinforce Snowline’s optimism about the prospect of additional high-grade mineralization in the area. Additionally, the company has identified two new gold targets—Charlotte and Galatea—expanding the exploration scope within the Rogue and Einarson Projects.
Drilling at Valley has been ongoing with four rigs currently active, covering over 20,400 meters across 46 holes. The Valley deposit is part of Snowline’s flagship Rogue Project, a reduced intrusion-related gold system (RIRGS) that has shown considerable promise since Snowline’s initial discovery in 2021.
“The breadth, consistency, and grade of near-surface gold mineralization at Valley continue to impress us,” said Scott Berdahl, CEO and Director of Snowline Gold. “V-24-078 has set another very high bar, with over 244 meters of gold mineralization starting from surface, including a sustained interval of 101 meters averaging 6 grams per tonne of gold.”
Drilled from the southeastern part of the Valley deposit, Hole V-24-078’s exceptional results are expected to significantly impact the upcoming mineral resource estimate (MRE) for Valley. This hole, drilled to test an underexplored section of the deposit, intersected predominantly granodiorite rock, characterized by high densities of quartz veins hosting visible gold.
Beyond Valley, Snowline’s exploration campaign has led to the discovery of two new targets, Charlotte and Galatea, both of which show encouraging signs of gold mineralization. Located 15 kilometers southeast of the Valley deposit, Charlotte represents a new reduced intrusion-related gold system (RIRGS).
This target spans a 1.6 km by 300-meter area, corresponding with a geophysical anomaly similar to that identified at Valley. Of the 95 rock samples collected, 25 returned assays of over 1 g/t gold, with a high of 28.4 g/t gold.
On the other hand, Galatea is situated along a 12 km structural corridor between the Jupiter and Avalanche Creek targets. Rock samples from a 1.3 km boulder train of quartz-carbonate veins returned assays up to 6.11 g/t gold, with half of the samples exceeding 1 g/t gold.
With more than 22,500 meters of drilling across seven targets completed this year, Snowline is awaiting assay results for an additional 7,000 meters of core from regional targets, including Aurelius and Reid on the Rogue Project and Jupiter and Avalanche Creek on the Einarson Project. These pending results will help the company refine its exploration strategy and target new drilling locations for 2025.
“That we are still finding potentially significant new mineralized systems on surface in our fourth exploration season in this area is a testament to the scale and fertility of the district,” Berdahl remarked.
The company said that the Valley deposit is now on track to become one of the Yukon’s most significant gold discoveries in recent years. Since 2021, Snowline has progressed the Valley target from an initial prospect to a substantial gold resource, boasting an estimated 4.05 million ounces (Moz) of gold in the indicated resource category, with an average grade of 1.66 g/t gold. An additional 3.26 Moz of inferred resources are estimated at an average grade of 1.25 g/t gold, as per the latest technical report.
Snowline Gold last traded at $4.93 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
