A Vancouver-based micro cap just announced initial drill results from Phase I drilling at the Valley zone on its Rogue gold project in the Yukon Territory, Canada. The results were perceived as bullish as shares of Snowline Gold Corp. (OTCQB:SNWGF) popped following the announcement.
Snowline Gold is a Yukon-Territory-focused gold exploration company with a seven-project portfolio covering over 90,000 ha. The Company is exploring its flagship 72,000-hectare Einarson and Rogue gold projects in the prospective yet underexplored Selwyn Basin, with drilling expected to commence in mid-2021. Snowline's projects all lie in the prolific Tintina Gold Province that hosts multiple million-ounce-plus gold mines and deposits, from Kinross' Fort Knox mine to Newmont's Coffee deposit. Snowline's first mover claim position represents a unique opportunity to explore and expand a new greenfield, district-scale gold system.
As previously mentioned, traders were bullish on the results as shares of Snowline climbed up to $0.58/share (+21.14%) at the session high. This move is a strong continuation of the success this stock has had over the last six months.
