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Snowline Gold’s initial drill program at Einarson gold project in Yukon intersects near surface mineralization

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Approximately 1,560 metres of drill core have been recovered from Jupiter’s Callisto target, with all 9 holes drilled to date intersecting a mineralized structure down to depths of 100 metres, and along a 230-metre-long structural trend.

Additional Information:

Company: Snowline Gold Corp.
Website: http://www.SnowlineGold.com
Stock Symbol: CSE: SGD
Date Published: Jul 14, 2021
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Snowline Gold Corp., a Yukon Territory focused gold exploration company, reported that Phase I drilling at the Jupiter Zone is nearing completion.

The company is exploring its flagship 72,000-hectare Einarson and Rogue gold projects in the prospective yet underexplored Selwyn Basin.

In total, the company has 7 projects in its portfolio, covering more than 90,000 hectares, with all projects in the prolific Tintina Gold Province that hosts multiple million-ounce-plus gold mines and deposits, from Kinross' Fort Knox mine to Newmont's Coffee deposit.

Approximately 1,560 metres of drill core have been recovered from Jupiter’s Callisto target, with all 9 holes drilled to date intersecting a mineralized structure down to depths of 100 metres, and along a 230-metre-long structural trend.

Mineralized interval widths range from 0.2 metres to 21.7 metres in drill core with true thicknesses currently unknown.

This trend, which follows a regional-scale feature, is open for further drill targeting in all directions.

The ongoing Phase I diamond drill program initiated at the Jupiter zone tested a 3-kilometre long by up to 500-metre-wide area of anomalous gold-in-soil values accompanied by a prominent gold-bearing quartz boulder float train.

All nine drill holes have intersected a shallow north-easterly-dipping structural zone.

Mineralization consists of acicular arsenopyrite needles to much finer-grained arsenopyrite with a "sooty" appearance, along with pyrite.

These sulphides occur as veins, patches and disseminations in quartz and in deformed sediments.

Rare stibnite and trace realgar also occur in drill core.

The company 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 grams per tonne gold previously found on the surface.

Nikolas Matysek, CEO, stated: "The preliminary drilling results from Jupiter are encouraging. Discovering mineralized intervals in multiple holes across hundreds of metres is a sign of the significant potential at Jupiter. We are pleased that Snowline's first drill programme has identified a potential source for the mineralized float found at surface and look forward to complete assay results."

Soil sampling, structural mapping, prospecting and high-resolution drone surveying continue at the Rogue Project's Valley Zone in preparation for Phase I drilling.

Historical work during the 2010’s discovered the presence of a reduced-intrusion related gold system, characterized by gold-bearing sheeted quartz veining within and around a newly discovered intrusion.

Grab samples of sulphide vein material assayed from 0.5 g/t Au to 152 g/t Au within surrounding altered sediments.

Snowline's first mover claim position represents a unique opportunity to explore and expand a new greenfield, district-scale gold system.

The shares are trading at $0.32.

For more information, please visit the company’s website, www.SnowlineGold.com, contact Nikolas Matysek, B.Sc. (Geol) at 778-228-3020 or by email at info@SnowlineGold.com.

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I’m Megan Edwards for Investmentpitch Media