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Snowline Completes Acquisition of Nearby Project Portfolio
VANCOUVER, BC / ACCESSWIRE / October 21, 2022 / SNOWLINE GOLD CORP. (CSE:SGD) (OTCQB:SNWGF) ...
About this update from Snowline Gold Corp.
[{"type":"text","content":"Snowline Completes Acquisition of Nearby Project PortfolioVANCOUVER, BC / ACCESSWIRE / October 21, 2022 / SNOWLINE GOLD CORP. (CSE:SGD) (OTCQB:SNWGF) (the \"Company\" or \"Snowline\") is pleased to announce it has completed the previously announced acquisition of a large portfolio of Yukon Territory exploration assets from StrikePoint Gold Inc. (TSXV:SKP), an arm's length party, in exchange for (i) the payment of $500,000 in cash, and (ii) the issuance of 500,000 common shares (the \"Consideration Shares\") of the Company.\"The StrikePoint portfolio comprises ten gold properties in the Yukon's Selwyn Basin, complementing our existing portfolio and exploration efforts well,\" said Scott Berdahl, CEO & Director of Snowline. \"Most notably, the ‘Golden Oly' project covers at least seven distinct reduced intrusion-related gold targets. Each target is geologically similar to our ongoing Valley discovery on our Rogue Project. Based on that success, this is ground we would have staked if it were open. Instead, we have acquired not just the properties, but also extensive geochemical, geophysical and geological datasets which will accelerate our exploration efforts-all for roughly the cost of staking. We will apply our growing knowledge of reduced intrusion-related gold systems and of the Selwyn Basin to build on our track record of discovery.\"Figure 1 - Project location map for Snowline Gold's flagship eastern Selwyn Basin properties. Golden Oly is located south of Rogue, covering a cluster of intrusion-related gold targets in the vicinity of the Yukon's North Canol Road.The Consideration Shares are subject to a statutory hold period of four months and one day, expiring on February 21, 2023, in accordance with applicable Canadian securities laws. The Consideration Shares are also subject to a contractual hold period of six months, expiring on April 20, 2023.ABOUT SNOWLINE GOLD CORP.Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seventeen-project portfolio covering >254,000 ha. The Company is exploring its flagship >111,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline's project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross' Fort Knox mine, N...