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Snowline Gold Announces 100% Owned Rainbow Gold Project, Central Yukon
Geochemical anomaly suggests the presence of a deep-seated intrusion-related gold system, p...
About this update from Snowline Gold Corp.
[{"type":"text","content":"Snowline Gold Announces 100% Owned Rainbow Gold Project, Central YukonGeochemical anomaly suggests the presence of a deep-seated intrusion-related gold system, potentially analogous to Victoria Gold's Eagle or Kinross' Fort Knox depositsGround magnetics reveal alteration signature across 3 x 2 kilometre areaProspecting grab samples to 7.98 g/t Au, shear zones to 4.1 g/t AuVANCOUVER, BC / ACCESSWIRE / April 13, 2021 / SNOWLINE GOLD CORP. (CSE:SGD) (the \"Company\" or \"Snowline\") is pleased to provide additional detail on its 100% owned, 125 hectare Rainbow Gold Project, located within the Tintina Gold Belt. The Rainbow project covers a gold and pathfinder element soil anomaly associated with surface alteration caused by a recently discovered intrusion, thought to belong to the mid-Cretaceous Tombstone Plutonic Suite. Other Tombstone-related gold deposits within the Tintina Gold Belt include Fort Knox (~11 million ounces Au), and Eagle (~4.8 million ounces Au).\"The Rainbow Gold Project is another key element in Snowline's Yukon-focused asset portfolio. The sampling and geophysics to date indicate we may be on top of a prospective intrusion like the types associated with other large deposits in the Tintina Gold Belt\" said Nikolas Matysek, Chief Executive Officer of Snowline. \"Historical work has established a clear deposit thesis that we will move to validate this season.\"Snowline is reviewing the complete project portfolio it acquired from a private vendor and is focused on planning and prioritizing its exploration to maximize shareholder value. Specifically, it is examining multiple options for its non-core assets, including targeted exploration and joint venture arrangements.Project GeologyGrid soil geochemistry completed over the property revealed a 1 km by 300 m zone of high gold values (to 1.27 g/t) accompanied by anomalous bismuth, tellurium and tungsten flanked by zones of anomalous arsenic, antimony and silver (see Figure 1). This geochemical anomaly corresponds to the eroded edge of a 3x2 kilometre magnetic anomaly. Prospecting returned shear-hosted sulphide-bearing outcrop samples grading 4.1 g/t Au and locally-derived angular quartz float samples running 7.98 g/t Au. The magnetic anomaly reveals the potential size of the alteration system, and stream geochemistry anomalies that are 2.5 kilometres from the soil ano...