THE RESEARCH BRAINPreview
Open in TheBrain

EINARSON GOLD PROPERTY

SNOWLINE GOLD MOBILIZES DRILL TO EINARSON GOLD PROJECT, YUKON TERRITORY

June 16, 2021

Vancouver, B.C., June 16, 2021 SNOWLINE GOLD CORP. (CSE: SGD) (US OTC: SNWGF)(the “Company” or “Snowline”) is pleased to announce that it has commenced drill mobilization to the Company’s 61,000 hectare Einarson gold project in the Yukon Territory, Canada. Initial drilling will test the newly defined Jupiter zone (formerly “Mars NE”), a 3-kilometre long by up to 500-metre-wide area of anomalous gold-in-soil values accompanied by a prominent float train of mineralized quartz boulders. These boulders commonly assay between 1 and 7 g/t Au, to a maximum of 25.2 g/t Au.

“We are very excited to begin drilling at Jupiter,” said Scott Berdahl, COO and Director of Snowline. “Our first-ever drill programme will build on several campaigns of mineral discovery and target-defining exploration. The broad areal extent, high grade surface samples, and geological similarities to large epizonal gold deposits make Jupiter a very prospective target.”

The geological setting and style of mineralization at Jupiter suggest the presence of a shallow orogenic gold system, with possible similarities to Newfound Gold’s Queensway project or Kirkland Lake’s Fosterville Mine. Geochemical similarities between mineralization at Jupiter and nearby Carlin-style gold deposits suggest mineralization may be genetically related.

2021 Drill Campaign

Early-season technical work by Snowline Gold’s team suggests that the gold occurrences at Jupiter are associated with an extensive regional structure. Mineralization has been identified over more than a kilometer, with a mineralized float train stretching 3 km (see Figure 1). A 1,500 metre Phase I diamond drilling program is designed to intersect the mineralization with a series of shallow, 200-300 metre deep holes.

Phase II drilling will build upon the surface exploration and drill results from Jupiter. An additional 1,500 metres is budgeted to test other targets across the Einarson property and on Snowline’s nearby Rogue property.

Figure 1 – Planned Phase I drill sites atop exploration geochemistry at Jupiter. At least three source areas have been identified for the mineralization in the float train, and Phase I drilling will test two of these zones. Jupiter is part of a larger structural zone that includes the Mars and Avalanche Creek prospects in the southern part of the Einarson property.

Surface Exploration Strategy

Prospecting at Einarson in late 2020 discovered a mineralized float train similar to Jupiter along a major structural corridor ~12 kilometres to the south, with grab samples up to 34.2 g/t Au. This new zone, Avalanche Creek, demonstrates the regional scope of the occurrence of this style of mineralization. Extensive prospecting is planned along favourable structures at Einarson. A concurrent program of trenching, mapping, drone surveying and geochemical sampling is underway at Jupiter to provide additional context for Phase I drill results and to aid in targeting the Phase II drilling.

At Rogue, prospecting in the Valley zone this season has already encountered abundant sulphide veining across a 250-metre traverse, about 600 metres from where similar gold-bearing sulphide veins with historic grab sample assays of up to 152.0 g/t Au occur with visible gold. Assays for these new samples are pending. Extensive mapping, geochemical sampling, prospecting and a drone-based aerial magnetic survey will be conducted at Rogue to solidify targets for a first-ever diamond drill program in the Valley and/or Gracie zones.

Figure 2 – Quartz textures at Jupiterindicate gold deposition at a shallow crustal level, with multiple pulses of mineralizing fluid flow.A)Overgrown blading texture in quartz, possibly after calcite, which would indicate fluid boiling. Float sample ER1916 – 6.78 g/t Au.B)Banded, fine-grained arsenopyrite gives an almost colloform appearance. Float sample ER1942 – 3.1 g/t Au.C)Ankeritic brecciation of milky quartz with chalcedonic veinlets. Float sample ER1922 – 0.8 g/t Au. Similar texture with more sulphides (float sample ER1923) returned 7.38 g/t AuD)Bladed siderite and euhedral quartz filling an open space in a high-level vein. Subcrop sample ER1950 – Au below detection.

Qualified Person

Information in this release has been reviewed and approved by Scott Berdahl, P. Geo., Chief Operating Officer of Snowline and a Qualified Person for the purposes of National Instrument 43-101. The Einarson property is an early-stage exploration property that does not presently contain any mineral resources as defined by National Instrument 43-101