Snowline Gold Corp. (OTC:SNWGF) published a highly anticipated initial assessment for its Valley deposit within the Rogue project in Yukon Territory, Canada. This result presents a significant milestone for the company and positions the project as one of the richest in the region.
The initial National Instrument 43-101 compliant Mineral Resource Estimate (MRE) for Valley outlines 75.8 million indicated tons grading 1.66 grams per ton gold (Gt Au) for 4.05 million ounces (Moz) of contained gold. An additional 81 million tons are inferred at 1.25 Gt Au for 3.26 Moz gold, demonstrating the deposit's substantial size and potential for further growth.
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"The rapid advancement of Valley from discovery to a multi-million-ounce resource in just two seasons is a testament to the quality of the deposit and our dedicated exploration team," stated Scott Berdahl, Snowline's CEO and director.
"Valley exhibits exceptional continuity of strong, near-surface gold mineralization, offering optionality for future development scenarios. Drilling is ongoing to expand the known resource, and we believe Valley has excellent potential for further growth, as evidenced by broad zones of high-grade mineralization identified on multiple deposit edges," he added.
Geologically, Valley lies within the Tombstone gold belt, sharing characteristics with established mines like Kinross Gold's Fort Knox in Alaska and Victoria Gold's Eagle mine, the Yukon's sole operating hard rock gold mine. However, Valley stands out with its superior gold grades, making it an attractive exploration target.
While the Rogue project boasts significant potential, its remote location presents logistical challenges. The Valley deposit lacks direct road and power connections, and the nearest town, Mayo, is approximately 138 miles away.
Yet, the Valley deposit represents only a fraction of Snowline's landholdings within the Rogue project. Multiple high-priority targets with similar geological characteristics suggest the potential for a lucrative gold district.
Continued exploration at Rogue and throughout the Tombstone gold belt could lead to further discoveries, revitalizing the mining industry in the Yukon and bringing significant economic benefits to the territory, creating jobs and boosting government revenue.
This scenario could lead to increased investment in infrastructure and social programs, benefitting local communities as well.
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