Evergold Announces Drill Start at Golden Lion Property, Northern B.C.
TORONTO, July 07, 2021 (GLOBE NEWSWIRE) — Evergold Corp. (“Evergold” or the “Company”) (TSX-V:EVER, FRA:A2PTHZ) is pleased to report that drilling is now underway on the Golden Lion property, located in north-central BC’s Toodoggone region. Greater than 2,000 metres of core drilling is planned, focused on the GL1 Main Zone, where drilling in 2020 confirmed the presence of a broad, long, near-surface gold-silver zone, and a subsequent induced polarization (“IP”) survey identified a strengthening chargeability and resistivity response below last year’s drilling. Concurrent with the ongoing drilling, IP and soil and rock sampling coverage over the GL1 Main target is being expanded. To the east, mapping and sampling of several targets on the GL2 and GL3 target areas is also underway.
Highlights from the 2020 drilling program at the GL1 Main Zone included:
- 88.62 metres at 0.71 g/t Au from 4.88 to 93.50 metres in hole GL-20-009
- Including 16.50 metres of 1.59 g/t Au from 45.00 to 61.50 metres
- 61.70 metres of 0.76 g/t Au from 6.80 to 68.50 metres in hole GL-20-006
- Including 17.50 metres of 1.51 g/t Au from 42.50 to 60.00 metres
- Widths reported are drilled core lengths
“We’re happy to be back drilling on the GL1 Main Zone,” said Kevin Keough, President & CEO, “and further exploring other promising targets nearby. The Golden Lion property and the GL1 Main Zone in particular has considerable potential, which we plan to further demonstrate with the results of the current work.”
Assay results will be reported when received, compiled and interpreted.
Evergold Corp. has been assembled by a team with a record of recent success in B.C., namely the establishment of GT Gold Corp. (TSXV: GTT) in 2016 and the discovery in 2017 of both the Saddle South and Saddle North copper-gold deposits, now holding more than 20 million ounces of gold equivalent in all categories, and recently acquired by Newmont Corporation. Evergold combines four 100%-owned properties in prime B.C. geological real estate from well-known geologist C.J. (Charlie) Greig, with the recently optioned Rockland property in Nevada, seasoned management, and a qualified board. The Company’s flagship assets consist of the Snoball property, located in the heart of BC’s famed Golden Triangle, where drilling in 2020 achieved the discovery of a new high-grade, gold-silver system at the highest elevations on Pyramid Peak; the Golden Lion property, located at the north end of B.C.’s Toodoggone region, where drilling in 2020 confirmed the presence of a large-scale epithermal-style gold-silver zone at the GL1 Main prospect; and the past-producing high-grade Rockland gold-silver property in Nevada. All three of these properties host zones of precious metals that the Company believes offer considerable near-term upside.
Andrew J. Mitchell, P.Geo., Vice President, Exploration for Evergold Corp. and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this news release.
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Cautionary Statement Regarding Forward-Looking Information
This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restrictions on labour and international travel and supply chains, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.