Snowline Gold Corp. (TSX-V: SGD) (OTCQB: SNWGF) has staked the majority of remaining ground covering the geological feature hosting its flagship project’s resources and says it now has an “only-mover” position in the area.
On Friday, the Yukon miner announced that it had staked an additional 40,000 hectares on the Rogue Plutonic Complex, thereby securing most of the remaining mineral tenure hosting the recent Valley discovery and other significant gold targets.
The new staking has expanded the company’s Rogue project by 80 per cent to 94,397 hectares and increased its overall presence in Yukon by 20 per cent.
Snowline’s land package in the territory now comprises a staggering total of 333,900 hectares.
In addition to the new staking, the Snowline team has undertaken the task of compiling and digitizing historical records into its database from different campaigns conducted in the Rogue project’s area during the late 1960s, early 1980s, mid-1990s and 2010s.
“We have actively built, progressively and systematically, not just a first-mover position but effectively an ‘only-mover’ position in a fertile area that we believe has the potential to become a new gold district,” said Snowline’s CEO Scott Berdahl.
“We can now comprehensively and responsibly explore this area, focusing not only on advancing our existing targets but on making additional discoveries as well,” he added.
Map of the Rogue project and new staking. Image via Snowline Gold
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Snowline announced on Tuesday that Vancouver’s B2Gold Corp. (TSX: BTO) (NYSE American: BTG) (NSX: B2G) had increased its previous investment in the company and now holds a 9.9 per cent stake.
B2Gold’s CEO Clive Johnson says that the Valley discovery at the Rogue project was one of the most significant recent discoveries in Canadian history.
In February, the company intercepted 2 g/t gold over 202 metres at the Valley Zone.
Snowline listed its shares on the TSX Venture Exchange last month and de-listed from the Canadian Securities Exchange.
Other Yukon miners include Victoria Gold Corp. (TSX: VGCX), Triumph Gold (TSX-V: TIG), White Gold Corp. (TSX-V: WGO), Strategic Metals Ltd (TSX-V: SMD), Banyan Gold Corp. (TSX-V: BYN) (OTCQB: BYAGF), Fireweed Metals Corp. (TSX-V: FWZ) and Strikepoint Gold Inc. (TSX-V: SKP) (OTCQB: STKSF).
Snowline’s shares dropped by 1.79 per cent on Friday to trade at $3.29.
rowan@mugglehead.com
