High-grade gold intercepts and new discoveries reinforce exploration success.

Snowline Gold Corp. Sept. 10 announced that its latest drilling at the Valley deposit in the Yukon has returned some of the strongest gold intercepts to date while also confirming two promising new gold targets through its regional exploration efforts.

Kicking off its 2024 exploration season in late May, Snowline outlined an ambitious 25,000-meter drill program across multiple targets within its vast Yukon portfolio. Allocating 15,000 meters for Valley, the remaining 10,000 meters were designed to follow up on drilling at the Jupiter target on its Einarson property and other targets such as Cynthia, Ursa, and newly identified zones within Rogue.

In mid-June, Snowline unveiled its inaugural mineral resource estimate for Valley, which was based on 27,911 meters of drilling from 68 holes over two years. This estimate revealed 76 million metric tons of indicated resources averaging 1.66 grams per metric ton (4.05 million ounces) gold, plus 81 million metric tons of inferred resources averaging 1.25 g/t (3.26 million oz) gold at a cut-off grade of 0.4 g/t gold – a total of 7.3 million ounces with significant potential for expansion.

However, the first holes for the year returned long sections of higher-grade gold mineralization than what is averaged for the Valley resource.

Highlights from the first two holes of 2024 included:

• 449.7 meters averaging 1.77 g/t gold from surface in hole V-24-071, including 169.2 meters averaging 2.89 g/t gold from surface.

• 295.3 meters averaging 2.66 g/t gold from surface in V-24-072, including 100.8 meters averaging 4.67 g/t gold from surface, with 12 meters averaging 8.38 g/t gold from 58 meters.

While these initial results were impressive and aligned with previous results at Valley, the next batch of results surpassed expectations, ranking as the third and fourth highest in terms of contained gold at the deposit to date.

Highlights from the results in early August included:

• 471.6 meters averaging 2.38 g/t gold from surface in hole V-24-075, including 302.1 meters averaging 3.2 g/t gold from surface, with 22 meters averaging 6.48 g/t gold from a depth of 160 meters.

• 325 meters averaging 2.57 g/t gold from surface in V-24-073, including 136 meters averaging 4.84 g/t gold from surface, with 33 meters averaging 7.08 g/t gold from 55 meters.

As Snowline continues to explore the extent of mineralization, the latest report reveals some of the highest sustained grades seen at the deposit so far.

Snowline Gold Corp.

Cross-section showing hole V-24-078 in relation to the initial Valley mineral resource estimate block model and pit shell, with visible gold in pending assay holes marked by yellow spheres and recent results from holes V-24-076 and 077 highlighted for context.

This includes hole V-24-078, which cut 244.9 meters averaging 4.05 g/t gold from a depth of 8.2 meters, including a 101-meter subsection averaging 5.99 g/t gold.

"The breadth, consistency and grade of near-surface gold mineralization at Valley continue to impress us," said Snowline Gold CEO Scott Berdahl. "V-24-078 has set another very high bar, carrying an average grade of over four grams per tonne gold over 244.9 meters from surface, with a sustained run of 101 meters averaging six g/t gold, while holes from the southeast and northwest parts of the deposit show good near-surface continuity and grades."

The company says that the results of this hole are expected to help upgrade and derisk relevant areas of the initial mineral resource estimate for Valley, with the ultimate effect of these results being quantified along with analytical results of all subsequent holes in an updated mineral resource estimate at a later time.

"In addition, our regional exploration team continues to turn up exciting new prospects on our underexplored, greater than 3,600 square kilometers (1,390 square miles) tenure, including a new reduced-intrusion related gold system," added Berdahl. "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 the fertility of the district."

New gold discoveries

Snowline has confirmed the addition of two new targets – Charlotte and Galatea – as part of its regional exploration efforts.

Located about 15 kilometers (nine miles) southeast of the Valley deposit, Charlotte is a new discovery on the Rogue property.

Early exploration identified multiple gold-bearing quartz veins across a large area, with grab samples returning impressive grades, some as high as 28.4 g/t gold.

These results suggest strong potential for gold mineralization in this underexplored region, with the company now awaiting soil sampling results to refine future drill targets at Charlotte.

Galatea, a newly identified target on Snowline's Einarson property, lies along a structural corridor between the Jupiter and Avalanche Creek targets. This area revealed a 1,300-meter-long trail of gold-bearing quartz-carbonate rock, highlighting its potential for further exploration.

Samples from this area returned solid gold values, with some as high as 6.11 g/t, and Snowline plans further sampling to better understand the extent of the mineralization in this highly prospective area.

So far, Snowline has drilled around 22,500 meters across seven targets, closing in on its goal for the year. One drill remains active at the Jupiter target, with regional teams continuing to explore additional prospects.

Of the 10,000 meters dedicated to regional exploration, more than 8,900 have already been drilled. While assays from Valley have been prioritized, results from roughly 7,000 meters of regional drilling are still pending.