Snowline Gold (TSXV: SGD) has released the first mineral resource estimate for the Valley Gold Deposit, the flagship deposit at the firms Rogue project, found in the Yukon.
The project is said to contain 4.05 million ounces of gold in the indicated category, at a grade of 1.66 g/t. An additional 3.26 million ounces are included in the inferred category, at a grade of 1.25 g/t. The resource estimate is based on a pit-constrained shell, and uses a 0.40 g/t cut-off grade.
The resource is said to contain room for expansions, with zones of 1-2 g/t gold mineralization found across broad edges of the deposit, and “abundant” mineralization found beyond the limits of the current pit shell. A significant portion of the higher-grade mineralization meanwhile is said to start at bedrock surface, which enables futures development scenarios.
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“We believe that Valley has excellent potential for continued growth, as evidenced by broad intervals of 1-2 g/t gold mineralization returned in drilling on multiple edges of the system. We are actively building on this milestone for Valley with our largest drill campaign to date, currently underway, while testing multiple prospective greenfield targets in a region we believe has the potential to become a prolific minerals district,” commented Scott Berdahl, CEO of Snowline.
Mineralization is said to be non-refractory based on metallurgical testing, with average recoveries across 10 large core samples were 94.1% using bottle roll cyanidation, 95.4% using flotation, 95.7% using carbon-in-leach, all based on a 75-micron grind size.
Snowline Gold last traded at $5.40 on the TSX Venture.
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