Mining Explorers 2012: SnipGold Corp.
Chief Executive Officer: John Zbeetnoff, P.Geo
Chief Operating Officer: James (Jim) Sparling, P.Geo, MBA
Vice President, Corporate Development: Susan P. Craig, M.Sc., P.Geo.
SnipGold Corp., formerly Skyline Gold Corp., focused in 2012 on exploring its principal asset, the Iskut Property northwestern British Columbia with a seven-hole, 2,000-meter first-phase drill program. As of Aug. 02, 2012, SnipGold had drilled 1,517 meters in six holes, SG12-22 to SG12-27 aimed at testing electro-magnetic conductors located in the southwestern part of the property to determine the character of the structural controls and style of any mineralization associated with airborne electro-magnetic conductors identified on the property. Four holes had been completed along the Burnie Trend, as well as one hole at the C-1 area and a single hole at Johnny Flats. SnipGold said the program was proceeding below the projected cost, allowing for its drill contract to be extended and holes in the Gorge area and along the Snip-Bronson Trend to be added to the program. In addition, the cost effective execution of the 2012 exploration will allow for Borehole Pulse Electromagnetic surveys of historical holes and other prospective areas. SnipGold, which changed its name in May, also had planned a second phase of its 2012 program subject to satisfactory completion of phase 1.The Iskut Property is adjacent to the historic Snip Gold Mine, which yielded more than 1 million ounces gold at an average grade of 25.32 grams per metric ton gold.
Cash and short-term deposits: C$1.37 million (at June 14, 2012)
Working capital: C$1.37 million (April 30, 2012; raised C$1.65 million in July 2012)
Market capitalization: C$9.21 million (Aug. 27, 2012)
Suite 611 – 675 West Hastings St.
Vancouver, B.C. Canada V6B 1N2
Tel: 604-681-3989 • Fax: 604-681-3557