Snowline Gold Corp. has acquired seven high-potential gold properties covering ~67,000 hectares in the Yukon Territory, Canada
Einarson, Rogue, Tosh, Cliff, Rainbow, Cynthia, and Ursa
Cornerstone position in the Selwyn Basin presents opportunity as first-movers to develop and control a new greenfield district-scale gold system
The 61,690-hectare Einarson project covers five primary target areas for Carlin style and epizonal orogenic gold mineralization, with surface grab samples up to 34.2 g/t Au and soils up to 9.1 g/t Au along kilometres-scale trends
The 2,439-hectare Rogue project covers a newly-discovered Tombstone series intrusion and suspected buried intrusion with intact carapace, with surface grab samples up to 152.0 g/t Au and visible gold observed in sulphide veins
Paul Matysek has joined Snowline as Lead Strategic Advisor. Mr. Matysek is a consistent creator of shareholder value and has sold five publicly listed exploration and development companies, in aggregate worth over $2 billion CDN
Two recently completed over-subscribed private placements for gross proceeds of $7,810,000 CDN will fully fund 2021 exploration campaign
Snowline has filed with Canadian securities regulators technical reports prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") on each of the Einarson project and the Rogue project
VANCOUVER, BC / ACCESSWIRE / March 2, 2021 / SNOWLINE GOLD CORP. (CSE:SGD) (the "Company" or "Snowline") is pleased to announce it has begun trading under its new name and symbol, effective March 1, 2021. Through its recently completed transaction with 18526 Yukon Inc., the Company acquired seven high-potential gold projects covering ~67,000 hectares in the Yukon Territory, Canada. The two previously completed over-subscribed private placement financing for gross proceeds of $7,810,000 CDN will fully fund 2021 exploration of the Einarson and Rogue projects, with maiden drilling of several targets scheduled for this summer. Snowline has appointed industry veteran Paul Matysek as Lead Strategic Advisor to the Company as it explores an emerging gold district in the Yukon's Selwyn Basin.
Snowline's flagship Einarson and Rogue gold projects cover ~64,000 hectares in the prolific yet underexplored Selwyn Basin. The projects occupy a distinct structural zone near the Rackla gold belt, host to ATAC Resources' 1.7 Moz Au Carlin-type Conrad deposit. Rogue sits within the Tombstone gold belt, which hosts multiple million-ounce-plus deposits including Victoria Gold's 3.6 Moz Au producing Eagle mine, Kinross's 11 Moz Au producing Fort Knox mine and Golden Predator's 1.8 Moz Au Brewery Creek deposit. Snowline's first-mover claim position on these projects presents the opportunity to explore and expand a new greenfield, district-scale gold system.
"The acquisition of the Einarson and Rogue projects along with five additional holdings throughout the Yukon represents Snowline's strong belief in the massive untapped mineral potential of the Territory," said Nikolas Matysek, Chief Executive Officer of Snowline. "We have assembled a commanding position in the highly prospective yet overlooked Selwyn Basin that gives us an incredible opportunity to create value for all our stakeholders as we responsibly develop our projects. I am honoured to join a team that includes renowned geologists Quinton Hennigh, PhD and Craig Hart, PhD who will provide valuable insights. I also trust Paul Matysek's golden touch will continue to shine bright in Canada's premier exploration jurisdiction. I look forward to building mutually beneficial relationships with the communities and First Nations where we operate."
The Company's claims in the Yukon were privately assembled over three decades by prospectors Ron Berdahl and Scott Berdahl. With the closing of the transaction, Scott Berdahl, MSc, MBA, P.Geo. has joined Snowline as Chief Operating Officer to continue advancing the property portfolio.
"The team, the projects, the resources to explore-there are a lot of reasons I am excited to join Snowline," said Scott Berdahl. "We are in a fortunate position as first movers in a truly greenfield, district-scale geological system with multiple new gold discoveries. With an extensive in-house database to build on, we are well positioned to move several targets quickly to initial drill testing in 2021. The scale and nature of the anomalies and mineralization we've encountered to date highlight the unique opportunity in front of us."
The Einarson project is located in the Yukon's metal-endowed Selwyn basin which has been underexplored for gold. Einarson encompasses multiple kilometres-scale geochemical anomalies associated with thrust-faulted domal uplifts of interbedded carbonate and siliciclastic stratigraphy prospective for Carlin-type gold deposits. There are also multiple instances of structurally-controlled quartz mineralization with grab samples grading up to 34.2 g/t Au. Prospective geological units at the Einarson project are relatively flat-lying and tectonically shortened.
Snowline benefits from the extensive work of past operators Anthill Resources and 18526 Yukon Inc. These groups secured the large Einarson mineral tenure, collected more than 25,000 soil samples and 4,500 stream sediment samples on and around the project, conducted preliminary prospecting and geological mapping and performed limited drilling.
Primary target areas include:
Mars NE - an orogenic gold target with abundant mineralized quartz float boulders grading up to 25.2 g/t Au associated with zones of clay-alteration in bedrock, and a 3 kilometre zone of anomalous gold in soils to a maximum 5.3 g/t Au.
Avalanche Creek - an orogenic gold occurrence discovered in September 2020 along a major fault structure. Twenty-two grab samples of a mineralized boulder train averaged 7.8 g/t Au and graded up to 34.2 g/t Au.
Mars - Gold mineralization in silicified structural zones with intervals of up to 0.571 g/t Au over 21.16 metres, so far only the southernmost end of a 3.5 kilometre gold in soil anomaly has been drilled. Surface channel sampling at this south end yielded an interval of 7.09 g/t Au across 5.0 metres within a broader 33.5 metres averaging 1.65 g/t Au.
Misty - a 30-kilometer-long zone of consistently elevated to anomalous gold and Carlin pathfinder elements in soils corresponding to a variably faulted, doubly plunging anticlinal structure exposing carbonate stratigraphy known locally to host Carlin-type gold.
Odd - a pronounced 3.5-kilometer-long gold and Carlin pathfinder element soil and stream sediment anomaly corresponding to a thrust-faulted domal exposure of carbonate stratigraphy.
The Mars NE zone will be the initial focus of exploration efforts at the Einarson project during the 2021 field season. Snowline holds a majority 70% interest in 3,016 of 3,041 claims at the Einarson project, and 100% of the additional 25 claims. The remaining non-carried 30% interest is held by Anthill Resources, a private Vancouver, BC based company.
The 2,439-hectare Rogue project comprises 105 mineral claims in a 10 by 2 kilometre claim block as well as several nearby satellite blocks totalling 16 additional claims, all 100% owned by Snowline. The main block covers a 9-kilometre trend of hornfels alteration complemented by anomalous gold in rocks, soils and stream sediment samples. Along this trend are two suspected members of the Tombstone plutonic suite, the set of Cretaceous intrusions responsible for multi-million ounce reduced intrusion-related gold systems (RIRGS) such as those at Kinross's Fort Knox mine, Alaska and Victoria Gold's Eagle Mine, Yukon.
Although RIRGS deposits typically represent large, bulk-tonnage systems, there is early evidence for high-grade zones within both target areas. Initial surface rock grab samples collected by previous operators and by an independent qualified person contracted by Snowline for the Rogue technical report include:
152.0 g/t Au; 95.3 g/t Au; 58.4 g/t Au; 44.8 g/t Au & 38.1 g/t Au at Valley.
57.0 g/t Au; 20.1 g/t Au & 15.1 g/t Au at Gracie.
Aggressive follow-up exploration is planned for both targets in 2021, including geological mapping, additional soil sampling, geophysical surveying and drilling.
Not all previous work at the Einarson project and the Rogue project, nor samples from either project have been verified by the Company, and readers are cautioned not to place undue weight on such results. Highlighted samples are selected from a larger population of samples and are not indicative of the average grade of mineralization hosted on either project. See technical reports available on the Company's website and under the Company's profile on SEDAR, www.sedar.com, for a complete description of the results of previous sampling.
Both projects are early-stage exploration properties without established mineral resources, and no guarantee can be made at this time that economically viable mineral resources are present. As such, the projects represent a high degree of risk.
Further Information on the Properties
Further information concerning the projects is included in the technical reports prepared in accordance with NI 43-101 that are available on the Company's website, www.snowlinegold.com, and under the Company's profile on SEDAR, www.sedar.com.
Technical Advisors and Board
Concurrent with the closing of the transaction previously announced on February 26th, Snowline appointed Paul Matysek, Quinton Hennigh, and Craig Hart as technical advisors. Sarah Weber also joined Nikolas Matysek, Scott Berdahl, and Gunther Roehlig, as an independent member of the board of directors.
Mr. 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, Mr. Matysek has sold five publicly listed exploration and development companies, in aggregate worth over $2 billion. Currently, Mr. Matysek is the CEO and director of Gold X Mining.
Dr. Hennigh is an economic geologist with 25 years of exploration experience, mainly gold related. Early in his career, he explored for major mining companies including Homestake Mining Company, Newcrest Mining Ltd. and Newmont Mining Corp. He has been involved with a number of Canadian listed gold companies including Gold Canyon Resources where he led exploration at the Springpole alkaline gold project near Red Lake Ontario, a 5 million ounce gold asset that was recently sold. Dr. Hennigh obtained a Ph.D. in Geology/Geochemistry from the Colorado School of Mines.
Dr. 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, regional metallogeny and development of novel exploration methods. He has published over 150 technical papers and played a key role in developing intrusion-related gold models. Previously, Craig spent 14 years with the Yukon Geological Survey, including a role as Director of Mineral Services for the Territory. He holds a PhD in Geology from the University of Western Australia.
Ms. Weber is a Professional Geoscientist with over 20 years of diversified experience in the natural resource sector including extensive experience working with Indigenous Communities and government within BC. She is President and CEO of C3 Alliance Corp. where she provides leadership in building positive relationships between industry, Chambers of Commerce, municipal governments, Provincial governments, Indigenous communities, and NGOs. Sarah holds a B.Sc. in Geology from the University of British Columbia and an Executive MBA from the Beedie School of Business, Simon Fraser University.
The scientific and technical information contained in this news release has been reviewed and approved by Scott Berdahl, P. Geo., Chief Operating Officer of Snowline and a Qualified Person for the purpose of NI 43-101. This information comes from past exploration as summarized in the technical reports for the Einarson project and the Rogue project, available on the Company's website and under the Company's profile at www.sedar.com.
ON BEHALF OF THE BOARD
CEO & Director
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory based gold exploration company. The Company is exploring its flagship Einarson and Rogue gold projects that cover ~64,000 hectares in the prospective yet underexplored Selwyn Basin. Snowline's projects all lie in the prolific Tintina gold province that hosts multiple million-ounce-plus gold mines and deposits from Kinross' Fort Knox to Newmont's Coffee. Snowline's first-mover claim position presents a unique opportunity to explore and expand a new greenfield, district-scale gold system.
For further information, please contact:
Snowline Gold Corp.
Nikolas Matysek, CEO
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including statements about the resumption of trading of the common shares of the Company; the planned exploration programs; the potential for discovery of mineral resources; the timing for the start of drilling. 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 and uncertainties relating to timing for the resumption of trading; 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.