Snowline Gold (TSXV: SGD) has updated its mineral resource estimate for the Valley Gold deposit, which forms part of the larger Rogue project in the Yukon.
The updated estimate has seen significant resources converted from the inferred mineral resource category to the measured and indicated category based on the initial resource published in July 2024. Highlights from the updated resource include:
- Measured Resources: 69.7 million tonnes at 1.41 g/t gold, with contained gold of 3.15 million ounces
- Indicated Resources: 134.3 million tonnes at 1.11 g/t gold, with contained gold of 4.79 million ounces
- Inferred Resources: 44.5 million tonnes at 0.62 g/t gold, with contained gold of 0.89 million ounces
Total measured and indicated resources at the project now amount to 204.0 tonnes at 1.21 g/t gold, which contains gold resources of 7.94 million ounces, a 96% increase versus the 4.05 million ounces at 1.66 g/t in indicated resources reported in the initial resource estimate. Inferred resources meanwhile fell from 3.26 million ounces in the prior estimate to 0.89 million ounces in this revised estimate. The estimate is based on a cut-off grade of 0.3 g/t.
Across all categories, contained ounces at Valley have increased from 7.312 million ounces to 8.83 million ounces, a 21% improvement. The resource is said to be open to expansion along multiple limits of current drill testing, while the potential still exists for higher grade gold zones outside of the current resource area.
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A preliminary economic assessment for the project is meanwhile expected to be finalized in the coming weeks, which will be based on the updated resource estimate.
“With just 53 km of drilling so far, we have discovered and substantially derisked a large, continuous, non-refractory gold deposit exposed at surface, in an underexplored region with multiple large greenfield gold anomalies and recent prospecting discoveries. Importantly, a considerable majority of the known system at Valley has been upgraded into Measured and Indicated categories, which can be used to inform pre-feasibility and feasibility studies,” commented Scott Berdahl, CEO of Snowline Gold.
Snowline Gold last traded at $7.46 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
