SnipGold Provides Update on Drill Program
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/05/12 -- SnipGold Corp. (TSX VENTURE: SGG) ("SnipGold" or the "Company") (formerly Skyline Gold Corporation) is pleased to provide an update on the 2012 exploration program which tested five priority areas with nine diamond drill holes totaling over 2400 metres. A total of twelve holes underwent Borehole Pulse Electromagnetic ("BPEM") geophysical surveys.
The objectives of the 2012 exploration program were to assess five key exploration targets by:
1. Drill testing a series of historic electromagnetic ("EM") conductors,
along the Burnie Trend, at the C1 area and on Johnny Flats, for the
potential to host Snip style high grade gold mineralization.
2. Follow-up on 2011 drilling along the Snip-Bronson Trend.
3. Gain a better understanding of the controls of the high grade gold
mineralization at Gorge by accurately locating historic drill holes and
follow-up by drilling and BPEM surveys.
All 2012 objectives were successfully completed on a very limited budget.
Diamond drilling and BPEM work completed this year include:
-- Four widely spaced drill holes tested a 4.3 km strike length of the nine
kilometer Burnie Trend. Three of these holes underwent BPEM surveys.
-- Two drill holes tested the 2.8 km Johnny Flats set of 3D EM plate model
anomalies, these two holes, as well as a deep hole completed by Cominco
in 1995 were all tested with BPEM surveys.
-- The C1 area, the Gorge and the Snip Bronson Trend have all be been
tested with single drill holes in 2012. BPEM surveys were completed on
the three 2012 holes as well as three historic Gorge holes.
All core samples have now been delivered to the analytical lab. The assay data will be released to the public once all gold and multi-element analyses have been received. Initial geological interpretations are expected to be provided in conjunction with the assay release.
About SnipGold
SnipGold Corp. is a Canadian exploration company focused on the exploration and expansion of gold resources in northwestern British Columbia. SnipGold's board and management have significant experience in the discovery, exploration and development of gold projects in this area.
On Behalf of the Board of Directors
John Zbeetnoff, Chief Executive Officer
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts:
SnipGold Corp.
John Zbeetnoff
CEO
604-681-3989
SnipGold Corp.
Tony Perri
Investor Relations, Manager
604-681-3989
604-681-3557 (FAX)
info@snipgoldcorp.com
www.snipgoldcorp.com
