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Snowline Gold Announces Strategic Investment by Crescat Capital
VANCOUVER, BC / ACCESSWIRE / July 15, 2021 / SNOWLINE GOLD CORP. (CSE:SGD)(OTCQB:SNWGF) (the...
About this update from Snowline Gold Corp.
[{"type":"text","content":"Snowline Gold Announces Strategic Investment by Crescat CapitalVANCOUVER, BC / ACCESSWIRE / July 15, 2021 / SNOWLINE GOLD CORP. (CSE:SGD)(OTCQB:SNWGF) (the \"Company\" or \"Snowline\") is pleased to announce Crescat Capital LLC (\"Crescat\") as a strategic investor in the Company as part of a C$1,000,000 non-brokered private placement of units (\"Units\") issued by Snowline. The proceeds of the offering will be used to advance the Ursa gold and base metals project, and fund a future 1,500 metre diamond drill programme.\"We are pleased to welcome Crescat as a strategic shareholder,\" said Nikolas Matysek, Chief Executive Officer and Director of Snowline. \"Crescat's investment is a compelling endorsement of our Ursa gold and base metals project in the Selwyn Basin, Yukon. The 14-kilometre base metals and parallel 9-kilometre gold trends are attractive targets that we are excited to begin exploring. This programme will add another dimension to Snowline as we continue to advance our neighbouring Einarson and Rogue projects.\"\"Snowline has one of the highest quality portfolios of early-stage projects of any junior company I know,\" commented Quinton Hennigh, technical advisor to Snowline. \"One recent addition is the very exciting Ursa project, a very large, profound geochemical anomaly encompassing strongly elevated gold, zinc, silver, and other metals. Underlying rocks are dominantly sedimentary, so the prospect of finding a very large stratiform or stratabound base metal system is certainly possible. But, there is also clear evidence of Tintina style gold mineralization in the immediate area, so potential for such a gold system is also possible. Part of the proceeds of this placement will be dedicated to doing basic geophysics and other ground-based work to develop drill targets and undertake drilling at Ursa. We are very excited to start work on this program this season.\"Kevin Smith, Crescat's founder and Chief Investment Officer stated, \"we are thrilled to help fund the Ursa exploration program and believe Snowline has perhaps the most exciting collection of gold and multi-metallic drill targets in the Yukon today. Nikolas Matysek and Scott Berdahl are a highly capable new generation management team with a strong family history in the mining industry. We expect very successful careers ahead for them.\"The OfferingThe Company...