Snowline Gold Corp. (CSE:SGD)(OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to announce that it has commenced its 2022 exploration and drilling program. Drill crews and geological staff recently mobilized to the Company's new Forks Camp, built to support its Rogue, Einarson, Ursa and Cynthia projects. Phase II diamond drilling is underway at Rogue's Valley zone to test the extent of gold mineralization encountered by drilling in September 2021 within a soil and talus fine anomaly spanning roughly two kilometers
"Following an exceptional first season with two drill discoveries on our adjacent Rogue and Einarson projects, we are very excited to return to the field," said Scott Berdahl, CEO and Director of Snowline. "Our team has already done a tremendous job setting up for an early season start amidst our new camp build and a record-breaking spring snowpack. Snowline's 2022 drill program gives our shareholders much to look forward to as we simultaneously build on recent successes and position ourselves to make additional discoveries. Our results will shed new light on our large and relatively unexplored land package, which we believe has the potential to become a new North American gold district."
The geological setting and style of mineralization at Valley demonstrate the presence of a bulk tonnage gold target, with similarities to Kinross's Fort Knox Mine in Alaska and Victoria Gold's Eagle Mine in the Yukon. An 800 m Phase I drill program conducted at Valley in September 2021 encountered broad zones of gold mineralization in all four holes (e.g. see Snowline news release dated February 10, 2022). Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays along margins of a mid-Cretaceous aged Mayo-series intrusion.
2022 DRILL CAMPAIGN
Snowline's 2022 drill program budgets for at least 8,000 m total drilling across four or more zones.
At Rogue, some 3,000 m are planned for drilling on and around the Valley intrusion, which includes the Valley and Ridge zones. Expected hole depths range between 200 m and 300 m, with one or more deeper holes planned to determine continuity and intensity of mineralization at depth. The drill program will test the scale of the Valley gold system, with a systematic series of step-outs set to better define the width, breadth and depth of mineralization responsible for the geochemical anomalies on surface.
At Einarson, some 3,000 m are budgeted for the Jupiter zone, a high-grade epizonal orogenic gold prospect discovered by drilling in 2021 (e.g. see Snowline news release dated October 13, 2021). Precise drill targeting will await the results of early-season surface work. The program will further test the scale of the Jupiter gold system with broad step-outs, while more concentrated drilling near last season's drill discoveries will better define geometries and controls on mineralization while providing a more rigorous testing of known high-grade zones.
The balance of 2,000 m or more is budgeted for first-ever drill testing of additional targets. At Rogue's Gracie zone, a 5.1 km gold in soil and talus fine anomaly above a buried felsic intrusion represents a high-priority bulk tonnage drill target (see Snowline news release dated April 7, 2022). Mineralization is thought to be related to that at Valley. Following surface work to optimize drill targeting and assuming viable targets are identified, Phase I drilling will commence at Gracie.
Other candidate zones for Phase I drilling in summer 2022 include:
The proportion and total amount of drilling planned for each zone are rough working guides and may change based on drill results and other observations or factors throughout the season.
QUALIFIED PERSON
Information in this release has been prepared and approved by Scott Berdahl, P. Geo., Chief Executive Officer of Snowline and a Qualified Person for the purposes of National Instrument 43-101.
ABOUT Snowline Gold Corp.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seven-project portfolio covering >127,000 ha. The Company is exploring its flagship >85,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline's project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross' Fort Knox mine, Newmont's Coffee deposit, and Victoria Gold's Eagle Mine. Snowline's first-mover land position provides a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
ON BEHALF OF THE BOARD
Scott Berdahl, MSc, MBA, PGeo
CEO & Director
For further information, please contact:
Snowline Gold Corp.
+1 778 650 5485
info@snowlinegold.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including statements about the Company's upcoming drill program and surface work and plans for exploring and expanding a new greenfield, district-scale gold system. 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.
SOURCE: Snowline Gold Corp.
News Provided by ACCESSWIRE via QuoteMedia
The Selwyn Basin in the Yukon, however, remains relatively underexplored and undervalued. Exploration companies looking to acquire and develop highly prospective projects in the region have the ability to leverage excellent discovery potential and exciting early-stage investment opportunities.
Snowline Gold (CSE:SGD) is an emerging Yukon Territory-based exploration company focused on exploring highly prospective gold properties with a “cornerstone position in a new gold district, and an established jurisdiction in the Yukon,” according to CEO Nikolas Matysek.
Snowline Gold’s management team includes noteworthy members: Technical Advisor Paul Matysek is a geologist with over 40 years of experience, and has sold five publicly listed exploration and development companies; Technical Advisor Dr. Quinton Hennigh led exploration at First Mining’s (TSX:FF, OTCQX:FFMGF), formerly Gold Canyon Resources, Springpole alkaline gold project near Red Lake in Ontario; and incoming Chairman Dr. Craig Hart a world-renowned scholar on gold and copper deposits. He most recently served as Director of the Mineral Deposit Research Unit at the University of British Columbia, where he initiated industry-sponsored research projects that focused on gold systems and development of novel exploration methods.
The company is currently working to develop and explore its flagship Einarson and Rogue gold projects and recently acquired Cliff, Tosh and Rainbow properties. The company’s diverse asset base covers approximately 70,000 hectares at the intersection of established mineral belts.
The Einarson property covers five primary target areas with high-grade surface grab samples and wide-scale gold anomalies in the soil. Additionally, the Rogue project hosts two prospective targets, which cover a newly-discovered Tombstone series intrusion, and a potential buried intrusion with visible gold observed within its sulfide veining structures.
Snowline Gold advantageously leverages existing geological data from exploration work completed by the previous private operator. This data helps enable fast-tracked development and more rapid, low-cost entry to exploration.
In March 2021, the company announced it had staked additional claims around the Cliff and Tosh gold properties. These claims consolidated the land positions at each project, outlining expansion by 2,121 hectares and 2,069 hectares, respectively.
Upcoming developments for Snowline Gold in 2021 include an over 4,200-meter drilling program to better gauge the full potential of its land position.
The company’s solid share structure has a post-RTO total of over 89,197,000 shares and consists of several strategic shareholders, management and insiders. It has secured over CAD$6.2 million in working capital for the 2021 exploration season following recent financings. Snowline Gold has a committed 30 percent insider share position.
The Einarson gold project covers 61,690 hectares across Yukon’s mineral-rich and underexplored Selwyn basin. The property encompasses multiple kilometers-long geochemical anomalies associated with thrust-faulted carbonate and Carlin-type gold deposits. Snowline Gold holds a 70 percent interest in 3,016 claims and 100 percent interest in the remaining 25 claims covering the project.
The property hosts multiple structurally controlled quartz mineralization occurrences with grab samples grading up to 34.2 g/t gold. Extensive work of past private operators Anthill Resources and 18526 Yukon Inc. include securing the property’s mineral tenure, collecting more than 25,000 soil samples and 4,500 stream sediment samples, and conducting limited preliminary drilling.
Advanced past exploration totaling upwards of C$20 million primes the company for low-cost entry and fast-tracked development across the project’s primary target areas. These areas include the Mars NE, Avalanche Creek, Mars, Misty and Odd zones. The Mars NE zone will be the initial focus of exploration efforts at the Einarson project during the 2021 field season.
As the company advances its Einarson project, it recently announced it has intersected 7.05 metres at 3.96 gt Au, including 0.7 metres at 10.65 gt Au, and 4.00 metres at 4.10 gt Au, including 0.5 metres at 17.95 gt Au in initial drill program at the Jupiter Zone. Highlights of the drill program include the following:
The Rogue gold project comprises 105 mineral claims over 2,439 hectares in a ten by two-kilometer claim block and several nearby satellite blocks totaling 16 additional claims. All claims are 100 percent owned by Snowline Gold. The main target areas include the Valley and Gracie zones.
The main block covers a 9-kilometer trend of hornfels alteration consisting of anomalous gold in rocks, soils and stream sediment. Initial surface rock grab samples collected by previous operators and an independent qualified person contracted by the company include gold grades as high as 152.0g/t, 95.3g/t and 44.8g/t gold at Valley.
Snowline Gold suspects the main trend hosts two members of the Tombstone plutonic suite, the set of Cretaceous intrusions responsible for multi-million ounce reduced intrusion-related gold systems seen at Kinross’s Fort Knox mine and Victoria Gold’s Eagle Mine.
The company intends on conducting an aggressive follow-up exploration program for both targets in 2021, including geological mapping, soil sampling, geophysical surveying and drilling.
The Tosh gold project in southwestern Yukon covers 3,700 hectares in a similar geological and structural setting to Newmont’s Coffee deposits. The project has the potential to become a significant orogenic gold camp due to high-strain schists and intercalated marble geological profile. Snowline Gold owns 100 percent of the Tosh gold project.
Past exploration has revealed mineralized rock samples of up to 6.8g/t gold and 1,146g/t silver over a 15-kilometer area. Likewise, the company has reported multiple open-ended soil anomalies at least 2.1 kilometers in length, with soil concentrations grading upwards of 5.8g/t gold and 62.1g/t silver.
At Tosh, Snowline Gold expects to commence follow-up exploration and focus on delineating high-priority drill targets in 2021.
The Cliff gold project covers 2,724 hectares in southwestern Yukon’s Ruby Range placer gold district, a region that has produced over 50,000 ounces of gold since 1991. The property leverages a nearby road-accessible airstrip, hydroelectric station and resources from the Haines Junction township. Snowline Gold owns 100 percent of the Cliff gold project.
Early exploration on the property returned stream sediment grades of up to 480ppb gold and a gold-in-soil anomaly of up to 850ppb gold. In 2013, quartz arsenopyrite vein material found in schists assayed 7.3g/t gold with additional evidence pointing towards high-grade altered granodiorite material.
Snowline Gold remains excited to continue exploring and developing this highly prospective project.
The 125-hectare Rainbow Gold Project is located within the Tintina Gold Belt. It covers a gold and pathfinder element soil anomaly associated with surface alteration caused by a recently discovered intrusion, thought to belong to the mid-Cretaceous Tombstone Plutonic Suite. Other Tombstone-related gold deposits within the Tintina Gold Belt include Fort Knox (~11 million ounces Au), and Eagle (~4.8 million ounces Au).
A program of drone surveying, geochemical sampling and structural mapping is planned to establish suitable drill targets on the Rainbow property.
Upcoming developments for Snowline Gold in 2021 include an over 4,200-meter drilling program to better gauge the full potential of its land position. Phase I drilling at the Jupiter zone is nearing completion, having achieved its initial objective of discovering a mineralized structural zone thought to be partially responsible for gold-bearing quartz float boulders that grade up to 25.2 g/t Au previously found on the surface. While encouraged by phase I drill results, which indicate the in-situ presence of an extensive epizonal orogenic gold system, the Company awaits assay results to better assess their significance.
Additionally, the Company closed a C$1,000,000 non-brokered private placement with Crescat Capital in July 2021. The proceeds of the offering will be used to advance the Ursa gold and base metals project, and fund a future 1,500 metre diamond drill programme.
The company’s solid share structure has a total of 89.2M shares and consists of several strategic shareholders, management and insiders including Keith Neumeyer of First Majestic Silver Corp, Eric Sprott, Quinton Hennigh and Dr. Craig Hart. Snowline Gold has a committed 30 percent insider share position.
Scott Berdahl is a professional geologist with over 15 years of industry experience. Born and raised in the Yukon and based in Whitehorse, he brings a solid technical grounding in discovery-stage exploration alongside in-depth local knowledge. He has business development experience with several private and listed companies focused on gold and base metals.
Berdahl earned a BSc in Geology from the Massachusetts Institute of Technology, an MSc in Earth Science & Engineering from KAUST in Saudi Arabia, and an MBA from INSEAD in France and Singapore.
Matthew Roma is a Chartered Professional Accountant (CPA) with over 10 years of financial management experience working predominantly with junior mining companies. Mr. Roma articled at Deloitte LLP where he specialized in assurance and advisory services for publicly listed mining companies based both in Canada and the United States
Paul Matysek is a geologist/geochemist by training, a successful alpha entrepreneur and creator of shareholder value with over 40 years of experience in the mining industry. Since 2004 as either CEO or Executive Chairman, Matysek has sold five publicly listed exploration and development companies, in aggregate worth over $2 billion. Currently, he is the CEO and director of Gold X Mining.
Dr. Quinton Hennigh is an economic geologist with 25 years of exploration experience, mainly gold-related. Early in his career, he worked for major mining firms, including Homestake Mining Company, Newcrest Mining Ltd and Newmont Mining Corp. He has been involved with several Canadian-listed gold companies, including Gold Canyon Resources, where he led exploration at the Springpole alkaline gold project near Red Lake Ontario, a five million-ounce gold asset that was recently sold.
Dr. Hennigh obtained a Ph.D. in Geology/Geochemistry from the Colorado School of Mines.
Dr. Craig Hart is a world-renowned scholar on gold and copper deposits. He most recently served as Director of the Mineral Deposit Research Unit at the University of British
Columbia, where he initiated industry-sponsored research projects that focused on gold and porphyry systems and development of novel exploration methods. He has published over 150 technical papers and spent 14 years with the Yukon Geological Survey.
Mr. Branson brings over 15 years' industry experience to the Snowline team, having helped to organize and manage more than $55M in exploration expenditures and over 180,000 metres of drilling. His experience spans several continents but is focused in BC and the Yukon. A registered professional geologist with Engineers and Geoscientists British Columbia, Mr. Branson holds a B.Sc. in Earth and Ocean Science from the University of British Columbia and an M.Sc. in Exploration Geology from Rhodes University in South Africa.
Mr. Rennalls' has worked on the Einarson project in various capacities during four exploration seasons, including most recently with Snowline Gold in 2021 as Camp Manager and logistics manager for the Einarson, Rogue, Ursa, Rainbow and Tosh projects. Mr. Rennalls' background is in marketing, and his acumen, enthusiasm, and lateral thinking in logistics demonstrated during the 2021 field program reinforce his promise in this essential management role. Mr. Rennalls holds a B.Com. from McMaster University and an M.Sc. Admin. from Concordia University.
Snowline Gold Corp. (CSE:SGD)(OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to announce that it has expanded its 100% owned Rogue and Cynthia projects in the east central Yukon through staking. In total, 1,172 new claims were staked covering 23,229 hectares (232 km2), bringing the company's Yukon mineral tenure holdings to 127,310 hectares (1,273 km2) across its seven projects. Claims were staked to bolster existing property positions following the Company's recent drill and surface sampling discoveries. The claims cover additional geochemical anomalies and connect properties, which will enhance exploration efficiency. The increased land position further solidifies Snowline's competitive advantage in an emerging gold district that hosts multiple gold discoveries and mineralization styles
"Our successful exploration campaign in 2021 demonstrated a high level of mineral potential in a previously underappreciated and sparsely explored region," said Scott Berdahl, CEO and director of Snowline Gold. "This targeted expansion reflects our renewed, results-based conviction behind our exploration thesis. It cements our first-mover position as we aim to explore not just a discovery, but a potential new gold district. Our soon-to-begin 2022 exploration program will build on last season's discoveries alongside first-ever drill testing of multiple new targets."
Snowline has also commenced construction of its new 45-person camp, centrally located between the Company's Jupiter and Valley drill discoveries and proximal to additional prospective targets including Gracie, Ursa and Avalanche Creek. The camp is permitted for the next five field seasons and is located adjacent to the pre-existing Forks airstrip.
"By improving the Forks Airstrip to a safe length and condition, we can transition from float to wheeled planes, increasing our payload by up to 40% per flight and reducing total flights," said Steve Rennalls, Operations Manager for Snowline Gold. "At the same time, the new camp's central location shortens flight time to targets, resulting in a smaller environmental footprint through reduced emissions. It also allows for up to 10% more daily field hours per person, and it simplifies drill support, all of which will help to reduce our ‘dollars-per-meter' operational costs. And despite record snow levels, we have a jump on the season. We are on track to welcome geologists and drillers to the new camp on May 27 with the goal of commencing our 2022 drill program on June 1."
ROGUE STAKING
Expanded 2.4 times to 22,045 hectares.
Staking at Rogue expanded Snowline's tenure around its Valley drill discovery and its Gracie anomaly as well as around several additional exploration targets. Expanded claim positions were selected based on geology, field observations and data contained within Snowline's extensive regional database. Previously isolated land tenure positions at Rogue were connected, allowing for efficient allocation of exploration expenditures towards annual claim assessments across different areas.
CYNTHIA STAKING
Expanded 2.9 times to 14,326 hectares.
The Cynthia project was expanded by nearly 3 times, connecting the Company's original Cynthia claim block with nearby mineral claim blocks currently under option from Epica Gold Inc., a subsidiary of HighGold Mining Inc. The expanded claim position covers potential sources of elevated gold content in historical soil and silt samples, including bulk-leach extractable gold samples, that are present across a wide area. Elevated zinc values are also present in historical soil and silt samples. The underlying geology at Cynthia is thought by the Company to be prospective for multiple deposit types, with two mid-Cretaceous Mayo series intrusions of the Rogue plutonic complex intruding a structural transition zone present in Selwyn Basin stratigraphy.
EINARSON STAKING
Various fractional claims were staked on the Einarson project as part of the Spring 2022 staking campaign to consolidate land positions and reduce the potential for "nuisance staking" in the vicinity of key target areas.
AREAS OF INTEREST
Certain newly staked claims fall within the areas of interest (AOIs) defined in Snowline (formerly Skyledger Tech Corp)'s December 1, 2020 deal with Yukon-based company 18526 Yukon Inc., through which Snowline acquired its extensive Yukon datasets and its seven Yukon mineral properties. Claims staked within the AOIs are subject to a 2% net smelter return (NSR) and are incorporated into existing buy-down provisions which allow Snowline to reduce NSR to 1% on a project-by-project basis. 18526 Yukon Inc. is a privately held project generation company that is owned 40% by Snowline's CEO and Director Scott Berdahl.
QUALIFIED PERSON
Information in this release has been prepared and approved by Scott Berdahl, P. Geo., Chief Executive Officer of Snowline and a Qualified Person for the purposes of National Instrument 43-101.
ABOUT Snowline Gold Corp.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seven-project portfolio covering >106,000 ha. The Company is exploring its flagship 72,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline's project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross' Fort Knox mine, Newmont's Coffee deposit, and Victoria Gold's Eagle Mine. Snowline's first-mover land position provides a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
ON BEHALF OF THE BOARD
Scott Berdahl, MSc, MBA, PGeo
CEO & Director
For further information, please contact:
Snowline Gold Corp.
+1 778 650 5485
info@snowlinegold.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including statements about the Company reviewing its newly acquired project portfolio to maximize value, reviewing options for its non-core assets, including targeted exploration and joint venture arrangements, conducting follow-up prospecting and mapping this summer and plans for exploring and expanding a new greenfield, district-scale gold system. 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.
SOURCE:Snowline Gold Corp.
News Provided by ACCESSWIRE via QuoteMedia
Snowline Gold Corp. (CSE:SGD)(OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to announce updates to the Company's management team, with the recent appointments of Sergio Gamonal as Lead Geologist and Stephanie Hansen as Marketing and Investor Relations Manager
Sergio Gamonal brings over 15 years' exploration experience to the Company, having held senior roles at major mining companies Barrick and Kinross. Most recently, he served as country Exploration Manager for Argentina and then Chile with Barrick Gold, where he led the development of a robust pipeline of early to advanced stage gold targets throughout the Andes. Prior to this, he spent over 10 years with Kinross in the roles of Senior Specialized Geologist and Exploration Geologist, integrating geological and geochemical datasets with assessment and exploratory fieldwork at project sites in Russia, Africa, and South America. Mr. Gamonal holds an M.Sc. in Geology from the Mineral Deposit Research Unit at the University of British Columbia.
"I am very excited to join a team of discovery-driven, highly motivated and passionate people at Snowline focused on advancing a unique and unexplored gold camp in the Yukon," said Mr. Gamonal, Lead Geologist at Snowline. "The diversity of mineralization styles among Snowline's recent discoveries and regional targets is especially compelling as is it a sign of a fertile district capable of producing world-class gold deposits."
Mr. Gamonal joins Thomas Branson, MSc, PGeo, Exploration Manager and Steve Rennalls, Operations Manager at Snowline to round out a highly capable management team focused on efficient project advancement and target prioritization while following best practices in geoscience and operations.
Stephanie Hansen brings nearly 10 years' marketing experience to Snowline from a variety of industries. She will lead Snowline's major marketing, branding and communication initiatives as the Company shares its story and discoveries with investors, community and government alongside widening domestic and global audiences.
Stated Ms. Hansen, Marketing and IR Manager at Snowline: "Snowline is a distinctive new entity in the junior space, and I am thrilled to be a part of it. The company has a story to tell, and there is immense value to unlock in bringing that story to the majority of the mining investment audience that has not yet heard of Snowline nor its discoveries."
"A good exploration company is built as much on the strength of its projects as it is on the strength of its people," said Scott Berdahl, CEO and Director of Snowline. "We are excited to welcome Sergio Gamonal and Stephanie Hansen to the Snowline team. Sergio's geological expertise is an excellent complement to Snowline's strong technical team, and his experience working in the development arms of major gold mining companies brings a valuable perspective as we prioritize and advance a new gold district. Stephanie's drive and experience will build value for the company as we communicate our progress and bring our story to the world. With these pieces in place, we are even more excited to kick off our rapidly approaching 2022 field season."
ABOUT Snowline Gold Corp.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seven-project portfolio covering >106,000 ha. The Company is exploring its flagship 72,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline's project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross' Fort Knox mine, Newmont's Coffee deposit, and Victoria Gold's Eagle Mine. Snowline's first-mover land position provides a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
ON BEHALF OF THE BOARD
Scott Berdahl, MSc, MBA, PGeo
CEO & Director
For further information, please contact:
Snowline Gold Corp.
+1 778 650 5485
info@snowlinegold.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including statements about the Company reviewing its newly acquired project portfolio to maximize value, reviewing options for its non-core assets, including targeted exploration and joint venture arrangements, conducting follow-up prospecting and mapping this summer and plans for exploring and expanding a new greenfield, district-scale gold system. 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.
SOURCE: Snowline Gold Corp.
News Provided by ACCESSWIRE via QuoteMedia
Snowline Gold Corp. (CSE:SGD)(OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to provide an update on generative exploration results from its Rogue project in the Yukon Territory, Canada. Geochemical assay results received from late season 2021 contour soil and talus fine sampling reveal a large zone of anomalous gold values to 1.71 gt Au on top of and around a probable, near-surface, gold-bearing intrusion at the Company's Gracie target
"These results add to strong evidence that Gracie could host a large and fertile reduced-intrusion related gold system," said Scott Berdahl, CEO and director of Snowline. "What excites us about this-beyond the potential to duplicate our Valley discovery-is that the intrusion at Gracie hasn't been exposed by erosion. These gold systems can be most prospective at the very top of an intrusion, where initial cooling of the edges creates a brittle carapace that fractures to accommodate later gold bearing fluids. An intact carapace at Gracie thus makes for a compelling exploration target adjacent and complementary to the Company's 2021 Valley and Ridge discoveries."
Anomalous gold in soil samples up to 1.71 g/t Au were returned from 5.1 kilometers along a north-south trending ridge. All 43 samples within a central area roughly 1,600 m long by 800 m wide area averaged 0.49 g/t Au, with 8 results >1 g/t Au (Figure 3). Gold values in this core area have elevated bismuth (up to 287 ppm) and tellurium (up to 7 ppm) – a geochemical signature that is the same as Snowline's Valley zone and is similar to other reduced-intrusion related gold systems.
Limited historical surface work at Gracie yielded mineralized rock samples in outcrop and float, with values of up to 57.0 g/t Au (quartz sulphide vein float). Prospecting by Snowline personnel in 2021 returned float grab samples of up to 6.9 g/t Au. Regional airborne z-tipper axis aeromagnetic (ZTEM) data from 2008 over the Gracie target area are resistive and indicate a felsic intrusion with hornfels country rock exposed on the surface and surrounding the intrusion (Figure 1). These geophysical results are consistent with initial observations of the Gracie target area and will be further verified by the Company.
Given the steep, rocky terrain and poor soil development (Figure 4), many soil samples from the Gracie area are classified as talus fines. Talus fines samples are produced by mechanical weathering of rocks are less modified by chemical weathering than typical soils. Some elements in talus fine samples may have stronger geochemical responses than soils from over a bedrock geochemical anomaly. Talus fine samples are also more susceptible to a sampling bias wherein more easily weathered mineralized zones, such as sulphide-rich veins, can contribute a larger portion of the talus fine sediment load than the more durable and relatively barren country rock, resulting in a concentration of associated elements like gold.
EXPLORATION PLANS
The proximity of Gracie to Snowline's Valley zone, some 4 kilometers to the west, makes for convenient and cost-effective exploration in light of the Company's planned 3,000 m drill program at Valley in 2022. Expansion of the 2021 Valley zone aeromagnetic survey is planned for coverage of the Gracie zone and the broader claim block using a helicopter-borne geophysics system. Additional surface sampling and geological mapping at Gracie will provide further context for magnetic and geochemical results to assist potential drill targeting.
ABOUTROGUE
Snowline's 100%-owned Rogue property covers over 11,000 hectares in three main claim blocks. Each claim block covers one or more Cretaceous-aged intrusions of the Mayo plutonic suite – these are highly prospective for bulk-tonnage, reduced intrusion related gold systems (RIRGS). A first-pass 800 m drill program completed in September 2021 targeted bulk tonnage sheeted quartz vein arrays and resulted in the drill discovery of the Valley zone with intersections of up to 1.25 g/t Au over 168.7 m (Table 1). Late-season contour soil sampling near the Valley zone revealed a second anomalous region associated with sheeted vein arrays along the northeastern edge of the Valley stock known as the Ridge Zone (See Snowline's March 10, 2022 Press Release).
STOCK OPTIONS
The Company also announces that the Board of Directors has granted a total of 350,000 incentive stock options to various employees of the Company in connection with recent appointments. The options are exercisable for one share each at $0.80 per share for a period of five years from March 8, 2022 and are subject to the terms of the Company's Stock Option Plan. Options are subject to vesting provisions of 20% every six months from the date of the grant.
QUALIFIED PERSON
Information in this release has been prepared and approved by Scott Berdahl, P. Geo., Chief Executive Officer of Snowline and a Qualified Person for the purposes of National Instrument 43-101.
ABOUT Snowline Gold Corp.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seven-project portfolio covering >106,000 ha. The Company is exploring its flagship 72,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline's project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross' Fort Knox mine, Newmont's Coffee deposit, and Victoria Gold's Eagle Mine. Snowline's first-mover land position provides a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
ON BEHALF OF THE BOARD
Scott Berdahl, MSc, MBA, PGeo
CEO & Director
For further information, please contact:
Snowline Gold Corp.
+1 778 650 5485
info@snowlinegold.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including statements about the Company reviewing its newly acquired project portfolio to maximize value, reviewing options for its non-core assets, including targeted exploration and joint venture arrangements, conducting follow-up prospecting and mapping this summer and plans for exploring and expanding a new greenfield, district-scale gold system. 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.
SOURCE:Snowline Gold Corp.
News Provided by ACCESSWIRE via QuoteMedia
Snowline Gold Corp. (CSE:SGD)(OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to announce additional surface sampling results from its "Ridge" zone, immediately adjacent to its Valley discoveries on its Rogue gold project in the Yukon Territory, Canada. Contour soil and talus fine samples as well as rock grab samples reveal a 1.0 km zone of anomalous gold concentrations on the northeast edge of the Valley intrusion associated with sheeted quartz veins arrays. A continuous stretch of 18 contour soil and talus fine samples spanning 750 m within the zone averaged 0.21 ppm Au, with values up to 0.758 ppm Au. The zone is open in all directions
Figure 1 – Soil, talus fines, rock and magnetic results around the Valley intrusion delineates an open, 1.0 km zone of anomalous gold concentrations to 0.758 g/t Au in soils near sheeted quartz vein arrays. Background colours show detailed total magnetic field data, with pinks and purples denoting high field values and blues low.
"These reconnaissance sampling results significantly expand the scale of the mineralized system at Valley," said Scott Berdahl, CEO and director of Snowline Gold. "The tenor of our September 2021 drill discoveries, with drilled intersections of up to 1.25 g/t Au over 168.7 m from surface, provide context for the inherent potential of this sibling zone, located on an adjacent shoulder of the Valley intrusion and exhibiting a similar style of mineralization. Overall, the broader Valley area is looking more and more like the type of large, robust gold system that we founded Snowline Gold Corp to find. With a drill parked on site, permits in place and a strong treasury, we are looking forward to an exciting and discovery-filled exploration season in 2022."
Figure 2 – Discovery outcrop at Snowline Gold's Ridge target. A dense array of sheeted quartz veins cut weathered quartz diorite, striking roughly parallel to similar vein arrays drilled at the nearby Valley zone in 2021. Grab samples of quartz vein and intrusive material in this vicinity assay up to 10.1 g/t Au.
In addition to locating additional sheeted vein arrays, prospecting by Snowline's field team confirmed historical discoveries of arsenopyrite vein material sourced from the Ridge zone, just outside of the Valley intrusion. Historical grab sample assays of this material run as high as 152 g/t Au, and check assays by Snowline and an independent qualified person hired by the Company returned up to 58.4 g/t Au. While this occurrence was known to the Company, the extent of high gold values in soils, talus fines and rock samples and the extent of sheeted veining demonstrate the presence of a significant new zone for targeted future exploration.
Higher on the ridge and farther east of the intrusion, prospecting by Snowline personnel encountered mineralized dikes, additional gold bearing sulphide veins and skarn-like alteration, demonstrating the extent and fertility of the Valley reduced-intrusion related gold system (RIRGS). These observations suggest that the intrusion itself may laterally beneath sedimentary units to the east, in the direction of Snowline's adjacent "Gracie" RIRGS prospect.
Figure 3 – Composite, panoramic view of the Ridge zone. Extensive gossans occur within and above the edge of the Valley intrusion, which runs along the lower half of the mountainside in this photo. Eighteen contour soil and talus fine samples across 750 m at the break in slope midway up the mountainside averaged 0.21 ppm Au, with values up to 0.758 ppm Au. Additional soil and rock samples suggest an overall extent to the zone exceeding 1.0 km. View looks northeast from the eastern end of the Valley geochemical anomaly shown in Figure 1.
UPCOMING EXPLORATION
With over $8.5M CAD in the treasury, Snowline is actively preparing for a busy 2022 exploration season. The upcoming program will see at least two drills turning on an 8,000+ m program focused on the Company's Valley and Jupiter discoveries along with nearby targets. This work continues to build toward establishing North America's newest gold district in the Yukon's Selwyn Basin.
The Company currently has a diamond drill under contract and on site at Valley, overwintering for a quick and cost-effective resumption of drilling in Spring 2022. Given the scale of the associated geochemical anomaly, the extent of sheeted veins observed on surface and the potential for high vein densities within the intrusion, a 3000+ m drill program is planned at Valley to better understand the scale and continuity of the mineralized zone.
QA/QC AND QUALIFIED PERSON
Soil, talus fine and rock samples were collected by Snowline staff and contractors. Soils and talus fines were air dried in camp. Rock samples were photographed during sampling. Standard reference materials, blanks and duplicate samples were inserted by Snowline personnel at regular intervals into the sample stream. Bagged samples were sealed with security tags to ensure integrity during transport. They were delivered by expeditor and by Snowline personnel to ALS Laboratories' preparatory facility in Whitehorse, Yukon, with analysis completed in Vancouver.
ALS is accredited to ISO 17025:2005 UKAS ref 4028 for its laboratory analysis. Rock samples were crushed by ALS to >70% passing below 2 mm and split using a riffle splitter. 250 g splits were pulverized to >85% passing below 75 microns. An aqua regia digest with an inductively coupled plasma mass spectroscopy (ICP-MS) finish was used for 51-element analysis on 50 g samples (ALS code: Au-ME-TL44). Any rock sample returning >50 ppb Au was re-analysed for gold content by fire assay with an inductively coupled plasma atomic emission spectroscopy (ICP-AES) finish on 30 g samples (ALS code: Au-ICP21). Any sample returning >10 g/t Au was reanalysed by fire assay with a gravimetric finish on a 50 g sample (ALS code: Au-GRA22).
Soil and talus fine samples were further dried on receipt at the laboratory at temperatures
While talus fine and soil samples are collected and processed in the same fashion, they are slightly different sample mediums, as talus fines represent a more primary material as derived from bedrock.
Information in this release has been prepared and approved by Scott Berdahl, P. Geo., Chief Executive Officer of Snowline and a Qualified Person for the purposes of National Instrument 43-101.
Figure 4 – Valley zone location map in relation to surrounding Snowline Gold Corp. projects. Valley is the westernmost in an east-west line of 3 small intrusive bodies, each of which appears to have potential to host an intrusion-related gold deposit or deposits.
ABOUT Snowline Gold Corp.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seven-project portfolio covering >100,000 ha. The Company is exploring its flagship 72,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline's project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross' Fort Knox mine, Newmont's Coffee deposit, and Victoria Gold's Eagle Mine. Snowline's first-mover land position provides a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
ON BEHALF OF THE BOARD
Scott Berdahl, MSc, MBA, PGeo
CEO & Director
For further information, please contact:
Snowline Gold Corp.
+1 778 650 5485
info@snowlinegold.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including statements about the Company reviewing its newly acquired project portfolio to maximize value, reviewing options for its non-core assets, including targeted exploration and joint venture arrangements, conducting follow-up prospecting and mapping this summer and plans for exploring and expanding a new greenfield, district-scale gold system. 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.
SOURCE: Snowline Gold Corp.
News Provided by ACCESSWIRE via QuoteMedia
Snowline Gold Corp. (CSE:SGD)(OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to provide additional Phase I drill and exploration results from the Valley zone on its Rogue gold project in the Yukon Territory, Canada. As with the first two holes (released previously), holes V-21-003 and V-21-004 each intersected broad zones of high gold values associated with visible gold in sheeted vein arrays. V-21-003 averaged 1.56 gt Au over 125.0 m from surface, within a broader sheeted vein array zone 1.25 gt Au over 168.7 m, also from surface. Hole V-21-004, collared farther from the intrusion, also encountered strong gold grades in sheeted veins, running 0.90 gt Au over 69.5 m from 65.0 m depth
Drillhole ID
Coordinates (NAD83 Zn9)
Orientation (True)
Interval* (metres)
Grade
(Au g/t)
Azimuth
Dip
From
To
Width*
385945
7057816
220
-50
1.0
169.7
168.65
1.25
1.0
126.0
125.00
1.56
12.5
71.0
58.55
2.14
12.5
13.0
0.55
15.45
18.3
18.8
0.55
9.26
28.4
29.0
0.58
13.70
54.0
55.5
1.50
16.20
98.0
99.0
1.00
12.25
168.7
169.7
1.00
8.31
385907
7057860
220
-50
46.5
140.3
93.80
0.77
65.0
134.5
69.45
0.90
104.5
105.1
0.60
15.65
121.0
122.5
1.50
11.95
Table 1 – Hole details and highlight intervals in V-21-003 and V-21-004. Local "hot spots" of up to 16.2 g/t Au over 1.5 m are present within the mineralized intervals, but the broader intervals are carried largely by consistently anomalous gold values. *Interval widths reported; at this point there is insufficient data to reliably estimate true widths.
"These results build on what was already a remarkably successful first season for Snowline," said Scott Berdahl, CEO and director of Snowline Gold Corp. "V-21-003 and V-21-004 were drilled specifically to crosscut and better test the width of the sheeted vein arrays at Valley. Hole V-21-003 began in a mineralized interval, so that width remains open. That it intersected a higher total gold content than any other hole drilled by Snowline in 2021 is a promising sign both for the Valley target and the broader Rogue project. Hole V-21-004 also hit strong grades, demonstrating that the system is open along its length, which continues beyond the margins of the intrusion. We are eager to follow up on these results with a significant drill program at Valley in 2022."
Figure 1 – Cross section with gold assay results (yellow) for drill hole V-21-003 plotted alongside simplified lithologies. For the purposes of plotting, assay values for V-21-001 are capped at 10 g/t Au. (The highest assay ran 16.2 g/t Au over 1.5m.)
Drillhole ID
Interval* (metres)
Grade
(Au g/t)
Capped
@10 g/t Au
From
To
Width*
1.0
169.7
168.65
1.25
1.15
1.0
126.0
125.00
1.56
1.43
12.5
71.0
58.55
2.14
1.89
46.5
140.3
93.80
0.77
0.71
65.0
134.5
69.45
0.90
0.81
Table 2 – Highlight intervals capped at 10 g/t Au in V-21-003 and V-21-004. This capping reduces the effect of "smearing" of high-grade results across lower grade zones of the intervals, demonstrating a robust and relatively consistent signature to the mineralization. *Interval widths reported; at this point there is insufficient data to reliably estimate true widths.
Based on the geological setting, the style of mineralization and the geochemical and mineral associations observed in drill core, Valley is interpreted to be a reduced intrusion-related gold system (RIRGS). Elsewhere, RIRGS gold deposits are known to form important commercial gold resources, including Victoria Gold Corp.'s Eagle Mine in the Yukon and Kinross Gold Corporation's Fort Knox Mine in Alaska. Both deposits are hosted in intrusive rocks analogous to those at Valley.
Valley is currently a discovery-stage bulk-tonnage prospect with no estimated resources nor reserves. At this early stage it is not possible to determine the size of the mineralized system nor whether it will prove to be economically viable.
Figure 2 – Drill hole locations at Valley with soil and rock results on top of 2021 magnetic survey results. Anomalous gold-in-soils defines a WNW-ESE trend that is 900 m in length, roughly parallel to sheeted quartz vein arrays that span the edge of the Valley intrusion. Certain rock samples that yield >5 g/t Au have labels with pink haloes. High-resolution magnetic data captured by drone surveying shows a pronounced magnetic low (blue) over the centre of the intrusion, and a magnetic high (pink) from hornfels alteration. Holes V-21-001 & 002 targeted local structures in a hornfels roof/shoulder pendant in addition to sheeted vein arrays, whereas holes V-21-003 & 004 were drilled to target the sheeted vein arrays themselves.
Figure 3 – Sheeted vein arrays observed in drill holes V-21-003 (top) and V-21-004 (bottom). Subparallel, millimetre- to centimetre-scale quartz veins are present across wide zones in all four holes drilled at Valley in 2021. The density of veins increases towards the intrusion, as expected for this deposit model and as illustrated by the greater density in the silicified diorites(top) versus the hornfels siltstones (bottom). The first 1.5 m shown from 121 m to 122.5 m downhole in V-21-004 averaged 12.0 g/t Au. The system remains open in both directions along strike, and the width and depth of the sheeted vein arrays have yet to be established.
UPCOMING EXPLORATION
With over $8.5M CAD in the treasury, Snowline is actively preparing for a busy 2022 exploration season. The upcoming program will see at least two drills turning on an 8,000+ m program focused on the Company's Jupiter and Valley discoveries along with nearby targets. This work continues to build toward establishing North America's newest gold district in the Yukon's Selwyn Basin.
The Company currently has a diamond drill under contract and on site at Valley, overwintering for a quick and cost-effective resumption of drilling in Spring 2022. Given the scale of the associated geochemical anomaly, the extent of sheeted veins observed on surface and the potential for higher vein densities within the intrusion, a 3000+ m drill program is planned at Valley to better understand the scale and continuity of the mineralized zone.
Figure 6 – Valley zone location map in relation to surrounding Snowline Gold Corp. projects. Valley is the westernmost in an east-west line of 3 small intrusive bodies, each of which bears strong evidence for the presence of a reduced-intrusion related gold system.
QA/QC AND QUALIFIED PERSON
On receipt from the drill site, Valley's NQ-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline's 2021 field camp. Smaller sample lengths were used to isolate zones of interest, otherwise a default 1.5 m downhole sample length was used. Core was cut in half lengthwise, with one half collected for analysis and one half stored as a record. Standard reference materials, blanks and duplicate samples were inserted by Snowline personnel at regular intervals into the sample stream. Bagged samples were sealed with security tags to ensure integrity during transport. They were delivered by expeditor and by Snowline personnel to ALS Laboratories' preparatory facility in Whitehorse, Yukon, with analysis completed in Vancouver.
ALS is accredited to ISO 17025:2005 UKAS ref 4028 for its laboratory analysis. Samples were crushed by ALS to >70% passing below 2 mm and split using a riffle splitter. 250 g splits were pulverized to >85% passing below 75 microns. An aqua regia digest with an inductively coupled plasma mass spectroscopy (ICP-MS) finish was used for 51-element analysis on 50 g samples (ALS code: Au-ME-TL44). For V-21-003, as with previous Valley zone holes V-21-001 and 002, all samples were re-analysed for gold content by fire assay with an inductively coupled plasma atomic emission spectroscopy (ICP-AES) finish on 30 g samples (ALS code: Au-ICP21). For V-21-004, as a cost saving measure, any sample retuning less than 50 parts per billion gold was not reanalyzed by fire assay. At the time of writing, all such samples from V-21-004 have been resubmitted for fire assay to provide consistency in the dataset and because aqua regia appears to under-report gold concentrations by an average of 12% in holes V-21-001, 002 and 003 compared to the more rigorous fire assay analysis technique. Any sample returning >10 g/t Au was reanalysed by fire assay with a gravimetric finish on a 50 g sample (ALS code: Au-GRA22).
Samples with visible gold and other samples returning >5 g/t Au will undergo further processing, analysing the screen rejects to determine whether the screening process could introduce a sampling bias in current results by excluding coarse gold from analysis, resulting in an under-reporting of true grades.
Information in this release has been prepared and approved by Scott Berdahl, P. Geo., Chief Executive Officer of Snowline and a Qualified Person for the purposes of National Instrument 43-101.
ABOUT Snowline Gold Corp.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seven-project portfolio covering >100,000 ha. The Company is exploring its flagship 72,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline's project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross' Fort Knox mine, Newmont's Coffee deposit, and Victoria Gold's Eagle Mine. Snowline's first-mover land position provides a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
ON BEHALF OF THE BOARD
Scott Berdahl, MSc, MBA, PGeo
CEO & Director
For further information, please contact:
Snowline Gold Corp.
+1 778 650 5485
info@snowlinegold.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including statements about the Company reviewing its newly acquired project portfolio to maximize value, reviewing options for its non-core assets, including targeted exploration and joint venture arrangements, conducting follow-up prospecting and mapping this summer and plans for exploring and expanding a new greenfield, district-scale gold system. 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.
SOURCE:Snowline Gold Corp.
News Provided by ACCESSWIRE via QuoteMedia
Falcon Gold Corp. (TSXV:FG)(GR:3FA)(OTCQB:FGLDF); ("Falcon Gold" or the "Company") is pleased to announce the completion of the option and work requirements on the Central Canada project to earn its 100% interest in the project located in the Hutchinson Township, Ontario
Falcon has completed all its cash share and exploration expenditures over the 4-year option. Falcon has the right to purchase half of the 2% NSR (Net Smelter Royalty) for a payment of $ 1,000,000, leaving the vendors with 1%. With annual production pre-payments of $ 10,000 which will be deducted against future royalty payments.
The Company previously announced February 2, 2022, and April 4, 2022, the planning and expansion of phase 3 drilling to commence early March however due to drill crew delay and availability we had to push back the start date. Currently, due to increased water levels in rivers in the area the Ministry of Northern Development, Mines, Natural Resources, and Forestry issued a flood warning late May as water levels had increased blocking access to the project. The Company is monitoring the situation and will report back when the situation clears.
The Company has decided for the near term to focus on its Central Newfoundland project portfolio and is pleased to report crews have been mobilized at our Gander North and South projects and at our Golden Brook project with Joint Venture partner Marvel Discovery Corp. (TSX.V MARV). The Company will be following up with a more detailed news release on the exploration underway in Newfoundland in the coming days.
About Falcon Gold Corp.
Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Falcon's flagship project, the Central Canada Gold Mine, is approximately 20km southeast of Agnico Eagle's Hammond Reef Gold Deposit which has currently estimated 3.32 million ounces of gold (123.5 million tonnes grading 0.84 g/t gold) mineral reserves, and 2.3 million ounces of measured and indicated mineral resources (133.4 million tonnes grading 0.54 g/t gold). The Hammond Reef gold property lies on the Hammond shear zone, which is a northeast-trending splay off the Quetico Fault Zone ("QFZ") and may be the control for the gold deposit. The Central Gold property lies on a similar major northeast-trending splay of the QFZ.
The Company holds 9 additional projects: The Esperanza Gold/Silver/Copper mineral concessions located in La Rioja Province, Argentina, The Viernes Gold/Silver/Copper project in Antofagasta Chile, The Springpole West Property in the world-renowned Red Lake mining camp; a 49% interest in the Burton Gold property with Iamgold near Sudbury Ontario; and in B.C., the Spitfire-Sunny Boy, Gaspard Gold claims; and most recently the Great Burnt, Hope Brook, and Baie Verte acquisitions adjacent to First Mining, Matador, Benton-Sokoman's JV, and Marvel Discovery in Central Newfoundland.
CONTACT INFORMATION:
Falcon Gold Corp.
"Karim Rayani"
Karim Rayani
Chief Executive Officer, Director
Telephone: (604) 716-0551
Email: k@r7.capital
Cautionary Language and Forward-Looking Statements
This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Falcon Gold Corp.
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Airborne geophysics, soil and till geochemistry, and drilling to be completed by end of Q4 2022
MLK Gold Ltd. (CSE: MLK) ("MLK" or "MLK Gold" or the " Company "), a growth-oriented gold exploration company headquartered in Windsor, Nova Scotia is pleased to report that after an initial data mining compilation of public government databases, the Company has added 104 lithium claims covering 2,600 hectares on its 360 Lithium Property located on the south coast of Newfoundland .
Company President and CEO, Paul Smith (P. Geo.) and Executive Chairman, Bill Fleming , noted significant pegmatite development on the property following an initial reconnaissance visit to the area late last month.
"We know from previous government and academic research that pegmatite veins have been noted in previous mapping of the area and contain sub-ore grades of elemental lithium in addition to numerous quartz-tourmaline veins," said Smith. "What we were surprised to observe was the abundance of veining and the variation in textures and mineralogy. Our plan is to complete a full assessment of these claims as part of our Q3 exploration program which includes our Caledonia Brook Gold Property," he added.
Exploration is set to begin at the end of July and will coincide with the Company's plan to release its airborne Versatile Time-Domain Electromagnetic (VTEM™ Plus) geophysical survey and soil data collected by Geotech Ltd. and Overburden Drilling Management (ODM).
The Company's flagship Caledonia Brook Gold Project is targeting lode and intrusive-hosted styles of gold mineralization through a planned initial drill program of 1,200 metres in 12 proposed holes to be collared on the Mustang66, Maverick, and Charlie Zones.
"The commencement of our Q4 drilling will represent the first diamond drill holes ever undertaken on the property," added Smith. "We have two additional holes being considered on the Slider Zone which will be conditional on results of a detailed soil sample survey in this area."
A total of 662 line-kilometres (representing ~62% of the property) has been covered by an airborne Versatile Time-Domain Electromagnetic (VTEM™ Plus) geophysical survey. Survey highlights include:
All data is currently under review and results will be released in the Company's next update.
Phase I of the Company's glacial till sampling program in the northern portion of the property has been completed with 111 samples being processed by Overburden Drilling Management (ODM). A summary of the results from the samples include:
All heavy mineral concentrates from ODM's mineral separation work are currently being analyzed at Activation Laboratories Ltd. in Ancaster, ON , and results will be released once they have been received.
Additional glacial till sampling will be carried out over the southern part of the property in Q3-Q4.
The Company's 2022 soil sampling process will take place over five separate grids on the property. Gold assay grades in soil from last summer's exploration have shown elevated gold content up to 192 ppb. Further work will target the Mustang66, Maverick, Cougar, Charlie, and Slider Zones.
Rock geochemistry has indicated four areas of elevated gold, silver, zinc, or lead content. These occur along the Mustang66, Viper, and Maverick Zones with gold assays up to 2.38 g/t Au and with silver up to 71.1 g/t Ag, 4.03 % Zn, and 1.07 % Pb.
All work will focus on areas where either known structural faults occur or where the Company has evidence of either shear zones or faulting being present based on its previous exploration in the area.
MLK Executive Chairman, William (Bill) Fleming , says the Company's commitment to the area's high potential is driving their exploration program.
"We have a pretty good idea of the geological similarities we share with other major stakeholders in the area, and we are encouraged by some of the results we have recorded to date," said Fleming. "Keeping that in mind, our primary focus right now is to accelerate the implementation of our strategic exploration initiatives, and if that requires more investment capital then we'll execute that action."
MLK's Caledonia Brook property is situated in central Newfoundland west of New Found Gold Corporation, northeast of the Valentine Lake deposit property, and southwest of Sokoman Minerals Moosehead gold property, and shares geological and structural similarities to Marathon Gold's (4.14 million ounces; 3.14 Moz. M&I, 56.7 Mt @ 1.72 g/t Au; 1.00 Moz. Inferred; 18.2 Mt @ 1.70 g/t Au) Valentine Lake deposit with both properties lying along the Victoria Lake – Grand Falls Shear Zone System. The Company's qualified person has not verified data from Marathon Gold's Valentine Lake project and similarities are not indicative of mineralization on the Company's properties.
Source : N.I. 43 Technical Report & FEASIBILITY STUDY ON THE VALENTINE GOLD PROJECT, Newfoundland and Labrador, Canada ; Prepared for, Marathon Gold Corporation, 36 Lombard Street, Suite 600, Toronto, ON , M5C 2X3; by Ausenco. Effective date: April 15, 2021 .
MLK's corporate update can be viewed here .
Paul K. Smith (P. Geo.), President & CEO for the Company, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 ("NI 43-101") and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same.
Founded in 2018, MLK Gold Ltd. is quickly emerging as one of Atlantic Canada's premiere resource exploration companies offering exposure to gold and the strategic metal representing a unique mix of discovery and resource development potential. Invested in a portfolio of gold projects in mining and mineral-rich Newfoundland , MLK's plan is to capitalize on the province's ranking as one of the world's top 10 mining jurisdictions and expand into a long-life, financially sound gold-mining company.
Additional information about the Company and its activities may be found on the Company's website at www.mlkgold.com and under the Company's profile at www.sedar.com .
To view the Company's recent promotional video, please click HERE .
This news release contains certain forward-looking statements. 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. 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. The Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law. 
SOURCE MLK Gold Ltd.
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Finlay Minerals Ltd. (TSXV: FYL) (" Finlay " or the " Company ") is pleased to announce its exploration plans for all three of its projects: the Silver Hope, the PIL, and the ATTY for the summer of 2022.
Robert F. Brown , President & CEO of Finlay Minerals states:
" The necessary funding by Finlay is in place for the Silver Hope and ATTY exploration programs, and our partner, ATAC, is funding the PIL program. All three programs have high impact exploration potential. At Silver Hope, drilling is targeting both Equity Silver type Cu-Au-Ag and porphyry Cu-Mo type mineralized targets. At PIL, ATAC is focusing on a porphyry Cu-Au-Mo targe; while at ATTY, Finlay is better defining potential porphyry Cu-Au and associated vein Au-Ag targets. Management is looking forward to the commencement of all these work programs ."
The planned 2,000m drill program will evaluate some of the high-priority, undrilled targets within the Equity East and Allin Zones. The Equity East and Allin targets are combined geochemical, and geophysical anomalies strongly associated with the Goosly Intrusive Complex (GIC). ( CLICK HERE to view the Silver Hope Property with the Equity East and Allin Zones and the Main Trend's Gaul Zone ).
The former Equity Silver open-pit and underground mine is located on the western edge of the magnetic high anomaly which is interpreted as the GIS (Goosly Intrusive Suite). The exploration permit is currently being reviewed by the Ministry of Mines & Energy and Low Carbon Innovation and exploration work will begin once the permit is received.
Follow-up drilling in the Gaul Zone along the Main Trend will target down dip of the mineralized zone to twin some 1987 drill holes that were drilled prior to Finlay's ownership and for which the Company is missing assay data. The Company will also test south of SH21-09 which intersected 76.57m (from 80.23m ) grading 0.45% Cu, 14.6g/t Ag, and 0.14g/t Au and which continues to be open to the south and down dip.
ATAC's 2022 exploration plans will focus on the Copper Ridge target which hosts a 1,300m x 750m Cu – Au – molybdenum (Mo) surface geochemical anomaly ( CLICK HERE to view the Cu in soils PIL map showing the target areas ).
The exploration program will focus on detailed geological and alteration studies, in addition to IP geophysics to develop drill targets. Permitting for future drilling has been submitted to the Ministry of Mines & Energy and Low Carbon Innovation. Follow-up mapping and sampling is also planned at the Copper Cliff target which hosts a 25m continuous talus sample that assayed 1.04% Cu. Other targets will be investigated depending on time and budget.
Finlay's 2022 exploration plans will focus on the Attycelley vein Ag-Cu-Pb-Zn-Au target within a 1.2km x 1.3km Cu surface geochemical anomaly. ( CLICK HERE to view to ATTY Map with the target areas .)
The exploration program will include geological and alteration mapping and sampling to outline the extent of the Attycelley veins and their relation to the large surrounding soil anomaly, and high chargeability IP anomaly. The Attycelley hosts several high-grade samples with values as high as 240.6g/t Ag, 9.1% Pb, 5.5% Zn, 1.8% Cu and 0.66g/t Au .
Wade Barnes , P. Geo. and Vice President, Exploration for Finlay Minerals and a qualified person as defined by National Instrument 43-101, has approved the technical content of this news release.
Finlay is a TSX Venture Exchange company focused on exploration for base and precious metal deposits in northern British Columbia.
Finlay Minerals Ltd. trades under the symbol "FYL" on the TSX Venture Exchange. For further information and details please visit the Company's website at www.finlayminerals.com
On behalf of the Board of Directors,
Robert F. Brown , P. Eng.
President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information: This news release includes certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements in this news release include statements regarding, among others, the exploration plans for the Silver Hope, PIL and ATTY Properties. Although Finlay believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These forward-looking statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals, the ability of Finlay and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Finlay's proposed transactions and programs on reasonable terms, and the ability of third party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Finlay does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law.
SOURCE Finlay Minerals Ltd.
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Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) (the "Company") is pleased to announce acceptance by the Japanese Ministry of Economy, Trade and Industry ("METI") of 13 new prospecting rights applications covering 3,972 hectares between its Barrick Alliance Aibetsu and Tenryu Projects, in north Hokkaido.
Regional BLEG Sampling Results:
Stream-sediment samples analysed for gold and pathfinder elements were systematically collected at Aibetsu in 2020-21 as part of the larger regional screening program conducted across the Barrick Alliance projects (Figure 1). A review of the data has identified multiple, strong gold and pathfinder element basin anomalies across the Aibetsu and Tenryu project areas. Anomalous basins include those draining areas of known gold and mercury workings on the west side of Aibetsu and at Tenryu. Additionally, strong and contiguous basin anomalies defining a significantly larger area have now been identified both within and outside of the current project boundaries on the east side of Aibetsu, and Tenryu projects. Based on this information, new prospecting rights applications were filed to cover these open anomalies and the acceptance by METI gives the Barrick Alliance priority to advance the expanded Aibetsu district (Figure 2).
Aibetsu Project
The historic Aibetsu Goldfield includes four known hard rock and eluvial gold and mercury workings including the Tokusei mine (Au), Kinzan (Au), Motoyama (Hg) and Yamamezawa (Hg) workings. The Tokusei gold mine produced 38,000 ounces of gold and 474,000 ounces of silver from underground development between 1930 and 19431.
Historic production at Tokusei came from a swarm of approximately 20 banded epithermal veins hosted in andesitic volcanic rocks. Individual veins varied in length from 22 to 425 metres, and one exceptional vein, the Sanjinhi vein, averaged 6.4 m in width over a 140 m strike length, and averaged 17.7 g/t gold and 20.4 g/t silver2.
Government funded exploration work around the Tokusei mine workings in the late 1990's included a drilled vein intercept of 1.4 m grading 69 g/t gold and 263 g/t silver from a drill hole 500 m to the northeast of the Tokusei mine workings3. The Company has identified extensive areas of anomalous gold and pathfinder elements in soil sampling which highlight the prospectivity of strike extensions at the Tokusei mine. For more detailed information on the Aibetsu Project, refer to the Company's website and news release dated February 28, 2018.
References
1 Watanabe, Y., (1995). A Tectonic Model for Epithermal Au Mineralisation in NE Hokkaido, Japan. Resource geology Special Issue, No. 18, pp. 257-269.
2 Fujiwara, T., Konoya, M., and Matsui, K. (1960). Geology and mineral deposits in the Aibetsu area, Hokkaido Chikashigen Chosashiryo 59: pp. 1-20 (in Japanese).
3 Metal Mining Agency of Japan, Geological Survey Report for Fiscal Year 2002, North Hokkaido Area.
Qualified Person
The technical information in this news release has been reviewed and approved by Japan Gold's Vice President of Exploration, Andrew Rowe, BAppSc, FAusIMM, FSEG, who is a Qualified Person as defined by National Instrument 43-101.
On behalf of the Board of Japan Gold Corp.
"John Proust"
Chairman & CEO
About Japan Gold Corp.
Japan Gold Corp. is a Canadian mineral exploration company focused solely on gold exploration across the three largest islands of Japan: Hokkaido, Honshu and Kyushu. The Company has a country-wide alliance with Barrick Gold Corporation to jointly explore, develop and mine certain gold mineral properties and mining projects. The Company holds a portfolio of 31 gold projects which cover areas with known gold occurrences, a history of mining and are prospective for high-grade epithermal gold mineralization. Japan Gold's leadership team represent decades of resource industry and business experience, and the Company has an operational team of geologists, drillers and technical advisors with experience exploring and operating in Japan. More information is available at www.japangold.com or by email at info@japangold.com
For further information, please contact:
John Proust
Chairman & CEO
Phone: 778-725-1491
Email: info@japangold.com
Cautionary Note
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking statements relating to expected or anticipated future events and anticipated results related to future partnerships and the Company's 2020 gold exploration program. These statements are forward-looking in nature and, as a result, are subject to certain risks and uncertainties that include, but are not limited to, general economic, market and business conditions; competition for qualified staff; the regulatory process and actions; technical issues; new legislation; potential delays or changes in plans; working in a new political jurisdiction; results of exploration; the timing and granting of prospecting rights; the Company's ability to execute and implement future plans, arrange or conclude a joint-venture or partnership; and the occurrence of unexpected events. Actual results achieved may differ from the information provided herein and, consequently, readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this News Release. The Company disclaims any intention or obligation to update or revise forward‐looking information or to explain any material difference between such and subsequent actual events, except as required by applicable laws.
Figure 1: Kitami Metallogenic Province, Japan Gold & Alliance Projects and significant mines
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Figure 2: Aibetsu and Tenryu projects, prospecting rights and applications
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Metals Creek Resources Corp. (TSXV: MEK) (OTCQB: MCREF) (FSE: M1C1) (the "Company" or Metals Creek) is pleased to announce additional diamond drill results from drill holes DL22-029, 030 and 031 of the phase III diamond drill program at the Dona Lake Gold project (See News Release November 08, 2021).
Hole DL22-029 continues to demonstrate the continuation of high-grade gold mineralization within the main zone stratigraphy, below the 455 level of the past producing Dona Lake Gold mine (See Figure 1, Schematic Long Section and Figure 2, Schematic X-Section). Hole 029 intersected the Main Zone stratigraphy 499 meters below surface and returned a core length intercept of 11.80 grammes per ton (g/t) gold (Au) over 3.66 meters(m) (539.47-543.13m). This was a part of a broader zone of mineralization of 6.38g/t Au over 11.33m (531.80-543.13m). Mineralization was hosted within a silicate sulfide iron formation with 0.5 to 25% pyrrhotite and local pyrite with associated grunerite and garnets. Visible gold was noted in this intercept. A second zone of mineralization was intercepted 516m below surface, which returned a core length intercept of 36.21 g/t Au over 2.47m, (558.63-561.10m). This second zone of mineralization is also within the main zone stratigraphy and is separated from the noted intercept above by 11m of felsic dike material. It is hosted within a moderately foliated and chloritized iron formation with 1-20% pyrrhotite and 2-10% pyrite. Visible gold was also noted in this intercept.
A third zone of high-grade gold mineralization was intercepted 54m east (in the hanging-wall) of the main zone iron formation within quartz stockwork returning a grade of 67.10g/t Au over 0.28m (470.35-470.63m) (See Figure 2, Schematic X-Section). This high-grade veining was intercepted 435m below surface and is hosted within sheared mafic volcanic adjacent to an intermediate dike. Significant visible gold (30 specks) was observed in association with moderate alteration consisting of sericite and 1-2% disseminated pyrite.
Select pieces of drill core from DL22-029 will be available for viewing at MEK booth # 2640 during PDAC, 13-15 June, 2022 .
Two additional holes were drilled testing peripheral iron formations outside the Dona Lake mine stratigraphy. These holes were planned to better define the orientation and composition of these iron formations. Hole DL22-030 tested the northwest iron formation (See attached Figure 3, Drill Hole location map) returning a core length intercept of 0.66 g/t Au over 9.10m (71.00-80.10m). Mineralization was hosted within silicate-oxide iron formation with trace to 3% pyrrhotite. Hole DL22-031 returned no significant results (NSA) within a chert rich iron formation with local seams of massive pyrrhotite. This hole was drilled east of the Dona Lake mine.
The phase III diamond drill program has successfully defined additional high-grade gold mineralization south of the Dona Lake mine workings. Deeper drilling targeting stratigraphy below the lowermost mine workings has extended high-grade gold mineralization down plunge to a vertical depth of 753m (See news release April 5, 2022). Recently reported drill hole DL22-025 returned a high-grade down hole intercept of 8.11 g/t over 9.51m. This hole represents the deepest hole to date on the Dona Lake property with gold mineralization remaining open at depth.
Table 1 – Significant Results
Figure 1 Schematic Longitudinal
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Figure 2 Schematic Cross-section
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Figure 3 Drill Hole location Map
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True thickness is 70-80% of drill intercept length.
The Dona Lake Gold Project was optioned from Newmont Corporation (previously Newmont Goldcorp – see news release dated 13 June 2019) and is located in the Pickle Lake Greenstone Belt which is host to several historic mines including the Dona Lake mine, the Central Patricia mine and the Pickle Crow mine. Dona Lake is accessible by an all-weather road southeast from the Town of Pickle Lake. The Project consists of 32 patented and leased mining claims and 35 map staked claims totaling approximately 1,122 hectares and covers the past producing Dona Lake Mine.
Michael MacIsaac, P.Geo and VP Exploration for the Corporation and a qualified person as defined in National Instrument 43-101, is responsible for this release, and supervised the preparation of the information forming the basis for this release.
All split core samples were sent to Activation Laboratories. The precious metals were analyzed utilizing a standard fire assay with an atomic absorption finish. As part of the Corporations QAQC protocol, approximately 10% of the samples submitted for assay were also sent for check assays. Standards and blanks were inserted randomly into the sample shipments as part of the sampling protocol. Samples with fire assay results above 1.0 g/t gold are re-analyzed using a gravimetric finish and samples with fire assay results above 5.0 g/t gold or samples showing visible gold are analyzed using the pulp metallic method.
About Metals Creek Resources Corp.
Metals Creek Resources Corp. is a junior exploration Company incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol "MEK". Metals Creek has earned a 50% interest in the Ogden Gold Property from Newmont Corporation, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has an 8 km strike length of the prolific Porcupine-Destor Fault (P-DF). In addition, Metals Creek has signed an agreement with Newmont Corporation,
where Metals Creek can earn a 100% interest in the past producing Dona Lake Gold Project in the Pickle Lake Mining District of Ontario.
Metals Creek also has multiple quality projects available for option in Ontario and Newfoundland which can be viewed on the Corporation's website. Parties interested in seeking more information about properties available for option can contact the Corporation at the number below.
Additional information concerning the Corporation is contained in documents filed by the Corporation with securities regulators, available under its profile at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Alexander (Sandy) Stares, President and CEO
Metals Creek Resources Corp
telephone: (709)-256-6060
fax: (709) -256-6061
email: astares@metalscreek.com
www.MetalsCreek.com
Twitter.com/MetalsCreekRes
Facebook.com/MetalsCreek
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TSX.V:OGN) (OTCQX:OGNRF) Orogen Royalties Inc. ("Orogen" or the "Company") is pleased to announce it has signed an agreement (the "Agreement") with Advance Lithium Corp. ("Advance") to purchase 3% net smelter royalties on three prospective mineral licenses (the "Royalties") in the Lake Victoria Gold Fields ("LVG") in western Kenya
Upon closing of the Agreement, Orogen will pay Advance US$120,000 for the Royalties and transfer its interest in the Sarape Gold project to Advance. Orogen will retain a 1.5% net smelter return royalty on the Sarape project.
"Identifying royalties on high-quality early-stage exploration opportunities forms part of Orogen's strategy of royalty creation and acquisition," commented Paddy Nicol. "Using the Sarape project in the transaction is a creative solution that demonstrates the ability of Orogen's hybrid prospect generation and royalty business model. Advance Lithium, a Mexican based lithium and gold explorer, is seeking exposure to the highly prospective Rio Sonora Valley, that hosts the Santa Elena/Ermitaño Mine, the Mercedes Mine and the Las Chispas deposit as well as Sarape."
About the Western Kenya Royalties
Upon closing of the Agreement, Orogen will hold a 3% net smelter royalty on the Rosterman, Sigalagala, and Bukura licenses located in the Liranda Corridor, a structural zone within the northern-most greenstone belt in the LVG. The licenses collectively cover approximately 19.75 square kilometres of ground within a larger land package known as the West Kenya Project held by Shanta Gold Limited ("Shanta Gold"). Shanta Gold is an AIM-listed gold producer with operations in Tanzania and western Kenya. The three royalties were created in February 2022 from a joint venture between Shanta Gold and Gold Rim Exploration Kenya, a wholly owned subsidiary of Advance.
Two licenses (Sigalagala and Bukura) are located approximately four kilometres east and two kilometres northwest of the Isulu and Bushiangala deposits, respectively, that are currently being advanced by Shanta Gold (see figure 1). Indicated resources of 378,000 ounces gold grading 11.70 grams per tonne ("g/t") and inferred resources of 739,000 ounces gold grading 10.80 g/t gold at Isulu and Bushiangala were announced in March 20221. Shanta Gold plans to initiate a feasibility study on the deposits over the duration of 2022. Bukura and Sigalagala cover the extensions of the shear zone that forms the structural setting for Isulu and Bushiangala.
Previous exploration on the Sigalagala and Bukura licenses includes soil geochemistry, geophysics and several air-core, reverse circulation, and diamond drilling campaigns. Highlight drill holes from the Sigalagala license include LCD0013 grading 8.74 g/t gold over three metres from 62 metres, and LCD0036 grading 4.94 g/t gold over 1.2 metres from 221.9 metres. At Bukura, drillhole LCD0043 grades 7.10 g/t over one metre.
The Rosterman license lies approximately eight kilometres north of the Isulu and Bushiangala deposits and contains the historical Rosterman Mine where approximately 250,000 ounces of gold grading 12.3 g/t were produced from shallow dipping quartz veins hosted within diorite. An interpreted splay fault travels northeast from the mine and coincides with a coherent gold soil anomaly extending over 1.8 kilometres. The extensive and strong soil geochemistry appears to be related to the historical Rosterman Mine and defines an attractive drill target.
Figure 1 – Claim locations of Bukrua, Sigalgala, and Rosterman licenses in the Liranda Corridor.
Qualified Person Statement
All technical data, as disclosed in this press release, has been verified by Laurence Pryer, Ph.D., P.Geo., Exploration Manager for Orogen. Dr. Pryer is a qualified person as defined under the terms of National Instrument 43-101.
Certain technical disclosure in this release is a summary of previously released third-party information and the Company is relying on the interpretation provided. Additional information can be found on the links in the footnotes.
About Orogen Royalties Inc.
Orogen Royalties is focused on organic royalty creation and royalty acquisitions on precious and base metal discoveries in western North America. The Company's royalty portfolio includes the Ermitaño gold and silver deposit in Sonora, Mexico (2% NSR royalty) operated by First Majestic Silver Corp. and the Silicon gold project (1% NSR royalty) in Nevada, U.S., being advanced by AngloGold Ashanti. The Company is well financed with several projects actively being developed by joint venture partners.
On Behalf of the Board
Orogen Royalties Inc.
Paddy Nicol
President & CEO
To find out more about Orogen, please contact Paddy Nicol, President & CEO at 604-248-8648, and Marco LoCascio, Vice President of Corporate Development at 604-248-8648. Visit our website at www.orogenroyalties.com.
Orogen Royalties Inc.
1015 – 789 West Pender Street
Vancouver, BC
Canada V6C 1H2
info@orogenroyalties.com
Forward Looking Information
This news release includes certain statements that may be deemed "forward looking statements". All statements in this presentation, other than statements of historical facts, that address events or developments that Orogen Royalties Inc. (the "Company") expect to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.
Although the Company believe the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Furthermore, the extent to which COVID-19 may impact the Company's business will depend on future developments such as the geographic spread of the disease, the duration of the outbreak, travel restrictions, physical distancing, business closures or business disruptions, and the effectiveness of actions taken in Canada and other countries to contain and treat the disease. Although it is not possible to reliably estimate the length or severity of these developments and their financial impact as of the date of approval of these condensed interim consolidated financial statements, continuation of the prevailing conditions could have a significant adverse impact on the Company's financial position and results of operations for future periods.
Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
SOURCE:Orogen Royalties Inc
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