- Junior company focused on gold discoveries with world-class potential
- Boasts one of Yukon’s largest mineral portfolios at more than 90,000 hectares
- Recently staked additional claims, significantly expanding its land position
What Snowline Gold does:
Snowline Gold Corp (CSE:SGD) (OTCPINK:SNWGF) is uncovering district-scale gold systems in the famed Selwyn Basin of Canada’s Yukon territory. The Vancouver-based firm boasts one of the Territory’s largest mineral portfolios at more than 90,000 hectares, with more than 72,000 hectares in the Selwyn Basin alone.
Snowline’s flagship Einarson and Rogue projects are at the core of their cornerstone position in the Selwyn Basin. Einarson encompasses multiple kilometres-scale geochemical anomalies prospective for Carlin-type gold deposits and multiple instances of structurally controlled quartz mineralization with grab samples grading up to 34.2 grams per ton (g/t) gold.
Snowline is zeroing in on four primary target areas at Einarson that show evidence of Carlin-style or orogenic gold.
Rogue 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, Snowline believes there is early evidence for high-grade zones within both target areas at Rogue.
Also in its portfolio is the Cynthia gold project, which has both bulk tonnage and high-grade exploration potential. Located in the Selwyn Basin, Cynthia covers a 4 square kilometre area of gold mineralization along strike from a past-producing mine and within 8 kilometres of a heavy equipment winter access road. Snowline acquired the property as part of a land package from a Yukon company in February this year.
Other projects include its 603-hectare Cliff gold project, located in southwest Yukon’s Ruby Range placer gold district, which has produced alluvial gold since the early 1900s.
Cliff covers a series of pronounced gold-in-soil anomalies and was located through an extensive, iterative geochemical and geological exploration program throughout the Ruby Range vectoring to the most prospective areas.
Tosh is a 1,630-hectare project in the southwest Yukon Territory, in an under-explored part of the same geological terrane as Newmont Corporation’s (NYSE:NEM) (TSE:NGT) (FRA:NMM) Coffee Gold project, as well as projects owned by White Gold Corp (CVE:WGO) (OTCMKTS:WHGOF) (FRA:29W). Assay results up to 6.8 g/t gold and 1,146 g/t silver were obtained from rock grab samples over an area spanning 15 kilometres.
Also, the 125-hectare Rainbow gold project in the Tintina gold belt is a “key element” in the firm’s asset portfolio, according to Snowline. A geochemical anomaly on the project indicates that it could host a deep-seated intrusion-related gold system similar to the ones seen at nearby gold operations run by Victoria Gold and Kinross Gold.
Led by CEO Nikolas Matysek, Snowline’s eyes are firmly focused on district-scale, greenfield gold discoveries with world-class potential.
How is it doing:
Snowline Gold Corp recently announced that it has staked additional claims, significantly expanding its land position around its fully-owned Rogue, Rainbow, Cynthia, and Ursa projects in the east-central Yukon, in Canada.
The company revealed that 782 new claims were staked in total for an additional 18,864 hectares. The new claims were strategically staked to cover structures, trends, and gold anomalies that extended beyond the bounds of its original holdings – cementing Snowline’s cornerstone position in the emerging gold district.
Snowline said the staking has expanded the Rogue Project by 4.6 times to 11,227 hectares covering high priority gold targets that it is intending to further explore in the upcoming season.
Snowline’s mineral tenure at Rogue was significantly increased with the staking of 321 new claims in three blocks — Arrowhead, Old Cabin and JP — targeting reduced intrusion-related gold systems associated with members of the Cretaceous-aged Tombstone Plutonic Suite.
Similarly, the staking has expanded the Rainbow project 10 times, now totalling 1,255 hectares. Rainbow covers a gold and pathfinder element soil anomaly associated with surface alteration.
Meanwhile, recent staking has expanded the Cynthia Project six times, now totalling 1,399 hectares and securing a wider margin around known mineralized zones to cover additional prospective ground on the altered shoulders of two intrusive exposures.
Recent staking also expanded the Ursa Project 54 times, bringing the total to 7,755 hectares.
At Cynthia, Snowline is planning a program of geological mapping, historical core review, drone surveying and geochemical sampling to establish a drilling strategy for the project.
- Initial Phase I drilling program at Mars NE target on Einarson project; results-driven 5,000 metre Phase II program
- Initial Phase I drilling program at Valley area on Rogue project; results-driven 3,000 metre-plus Phase II program
- Potential first pass drilling on additional projects as warranted
What the boss says:
“Snowline launched with seven projects for 70,000 hectares,” Snowline Gold CEO Nikolas Matsyk told Proactive recently in an interview after the company significantly expanded its land position.
“We controlled the key parts of the projects but a lot of the anomalies went off the edges, and we thought there was other potential in the area. We have $20 million of previous exploration expenses and some great regional coverage and we saw a lot of nearby targets. We really wanted to stake that ground as well.”
Contact Angela at [email protected]
Follow her on Twitter @AHarmantas
Story by ProactiveInvestors
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