(Kitco News) - Snowline Gold (CSE: SGD) announced that it intersected 2.3 grams per tonne gold over 282.9 metres at its Valley Zone.
The Yukon exploration company was up 25% today to $3.79 a share.
CEO Scott Berdahl awaits more results from a drill program.
"Our initial assay results demonstrate increasing scale and fertility in the Valley Zone," said Berdahl. "In an aggressive step back 154 m to test the width of the system with Hole V-22-005 and an aggressive step out 340 m along the length of the system with V-22-007 we've encountered grades and intervals greater than those of our discovery holes last season. These high grades are associated with unusually high quartz vein densities that are present across a large area. The presence of consistent grades from near surface is also encouraging as it improves the potential economics of the prospect. The Valley discovery is a work in progress—we eagerly await the remainder of results for V-22-007 and for many other holes from this year's ongoing drill campaign."
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