Thread by @theorereporter

1/ Snowline Gold $SGD $SGD.V a short thread. I spent sometime this Labour day weekend going through SGD's Valley deposit & attempting to understand what the potential may be. I didn’t consider Gracie or any of their other prospects. Just Valley. #Mintwit #Gold #Exploration

2/ Full Disclaimer: I am a shareholder & have been since the fall of 2021. I recently bought more shares in the high $2’s & as high as $3.50. If I hadn’t been a shareholder previously I would be now. I truly believe SGD is on to something Tier 1.

3/ I hope these posts open your eyes to the potential I see and if not at least open the floor to constructive discussion. I really enjoy doing this type of work and would love to do it full time (If you know anybody let me know!)

4/ The figures will do most of the talking from here on out
The geology at Valley is straight forward: Sheeted quartz veins in an intrusive rock (Granodiorite/diorite). Gold is hosted in quartz veins within/adjacent to the intrusive. Density of veining is closely related to grade

5/ Snowlines initial drilling on the Valley target in 2021 was at the edge of the intrusive, but they still intersected sheeted veins with economic grades.

6/ 2022 drilling followed up on the success of the 2021 drilling and this time was collared in the better host rock. Very high vein densities and trace visible gold were encountered over large intervals in drilling. Hole V-22-007 intersected 282.9m @ 2.3 gpt starting from surface

7/ High vein densities have been encountered over a large area and Craig Hart, an expert on these type of deposits, stated that the vein densities at Valley are the most intense he has ever seen.

8/ Here is where we currently stand & what we currently know. Based on data released we can outline areas of high, moderate and low vein densities and have a rough idea of what the average grade of these domains may be. Look at all the orange visible gold tags in the photograph!!

9/ Valley is a Reduced Intrusion related gold deposit & similar to Fort Knox in Alaska or Victoria Gold’s Dublin Gulch (Eagle Mine). Both are producing mines. We can look to the technical reports for information on what specific gravity may be, metallurgical recovery, costs, etc.

10/ Based on a rough 3D geological model & parameters borrowed from those deposits we can estimate what a potential resource could be, potential metal revenues and potential profits. Signs are pointing towards Valley being a >20m oz gold deposit that would have great economics.

11/ How does Valley compare in size to the intrusions that host Fort Knox or the Victoria gold Eagle mine? I've scaled them to compare. How does it compare to GT Golds Tatogga deposit (Porphyry) deposit which was purchased by Newmont in 2021 for $456m?

12/ How much would it cost to drill Valley to an inferred resource? Based on data from Fort Knox & Eagle Mine a drill spacing of ~80m would be required. If SGD focused on converting the moderate / high density vein areas outlined to inferred it would take an additional 32 holes.

13/ Here are some conclusions and questions.

14/ Below is a video showcasing the 3D model, domains & conceptual pit I designed. You will see 80m buffers around existing & planned collars (Green) and around 32 non-existent DDH collars (Red) which would be needed to convert the High/moderate vein density domains to inferred

15/ The Video: drive.google.com/file/d/1BlFHuU…

16/ If you made it this far, thank you for taking the time to read the thread! If I have made any egregious errors please let me know. I would love to hear other's opinions/counter arguments.

17/ This is very early days and a lot can change going forward. Please keep that in mind.

Thinking about this post about getting a potential resource to inferred. I made a mistake. What is shown in this tweet is >80m spacing. It would take ~64 additional holes & ~36m to get the high/moderate vein density domains to inferred. Let’s assume it will cost between $18-36m.