Snowline drills more gold at Valley deposit in Yukon

Snowline Gold (TSXV: SGD) said the first two holes of its 2024 drill campaign returned high grades from the Valley deposit at the Rogue gold project in Yukon. To date, roughly 11,000 metres have been drilled at Valley in 21 holes.

One hole, collared in a large gap in coverage at the Rogue project’s Valley deposit, returned 449.7 metres averaging 1.77 g/t gold from surface, including 169.2 metres of 2.89 g/t gold, surpassing initial resource block model grade predictions by 36%.

Another returned 404.8 metres averaging 2.27 g/t gold, including 100.8 metres averaging 4.67 g/t gold from surface, consistent with the block model prediction overall and slightly outperforming the model near surface.

“We are encouraged by such a strong start to our 2024 exploration campaign and excited to have regional drilling underway,” said Scott Berdahl, CEO of Snowline, in a press release.

“Our first two holes of the season at our Rogue project’s Valley deposit underscore the strength and consistency of the deposit, particularly when it comes to high-grade, near-surface gold mineralization.”

Additional assay results from more holes within and adjacent to the Valley deposit are pending. Three drills are still active as the drilling program continues.

The initial resource estimate was released last month. It contains 76 million indicated tonnes at 1.66 g/t gold, containing about 4.1 million oz., and 81 million inferred tonnes at 1.25 g/t, containing about 3.3 million oz. of gold.

Snowline is also drilling its Einarson project’s Jupiter target. The company says mineralization, including visible gold, has been encountered there in large step-outs in the first holes of the Phase 2 program.

Both projects are located east of Mayo, Yukon, near the border with Northwest Territories, in the traditional territory of the Na-Cho Nyäk Dun First Nation.