Snowline Gold Set To Begin 25,000 Metre Drill Program
Snowline Gold (TSXV: SGD) is about to undertake its largest exploration program to date, announcing that it has begun mobilization for a 25,000 metre drill program at its flagship Rogue project in the Yukon.
The campaign is set to see a total of five drilling rigs take part in the program, which will be broken up into two segments. One portion of the program will be focused on the expansion and advancement of the valley, with 15,000 metres of drilling allocated to the endeavor, while the remaining 10,000 metres will be assigned to first pass or follow-up drilling on multiple targets.
Expansion and advancement in the valley will focus on testing for potential extensions of the high grade gold system in several directions, which is to be complemented by metallurgical work and environmental surveys. The second portion of the program is to be “an aggressive regional campaign” that will test Aurelius at Rogue, as well as the Jupiter target under the Einarson Project, with over 4,000 metres of drilling allocated to the latter.
Regional surface work, including stream sediment and soil sampling is slated to occur concurrently, with drilling to potentially follow up promising results. Large scale and target scale geophysics is also scheduled, which is to include electromagnetic and magnetic surveys.
“At Valley, our drilling will push to expand the extent of known mineralization and to gain a more quantitative understanding of the discovery, both in terms of its overall gold endowment and in terms of assessing potential economics of the relatively high grade, near surface gold system,” commented Thomas Branson, VP of Exploration.
READ: Snowline Gold Pays $6.6 Million In Cash And Shares To Consolidate Einarson Ownership
The company also indicated this morning it has acquired an additional block of 76 claims that are adjacent to the Einarson project for a cash payment of $50,000 and a 2% net smelter return royalty on the newly acquired claims. Half of the NSR is able to be repurchased for 1,000 ounces of gold or the cash equivalent.
Snowline Gold last traded at $5.99 on the TSX Venture.
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