Evergold Drills 6.2 g/t Au and 11.9 g/t Ag over 2.4 m at Snoball, Golden Triangle, B.C.
December 21 2021 - 6:00AM
Evergold Corp. (“
Evergold” or the
“
Company”) (
TSX-V: EVER,
WKN: A2PTHZ, OTC: EVGUF) is pleased to report new,
shallow intercepts of the Pyramid Peak high-grade vein system in a
limited program of 400 metres of drilling in four holes this past
September on the Company’s Snoball property, located in northwest
BC’s Golden Triangle region. All four holes were drilled from a
single pad, two to a southwest azimuth and two to an opposite,
northeast, azimuth (Figure 1 and Table 2). Assay results for gold
and silver, and in particular the key pathfinder element arsenic
(Table 1), indicate the pad was set up directly on
veins, apparently striking WNW to NW and dipping steeply,
which appear to occur across a zone approximately 6 metres in width
near the drill collars. The latest intercepts, combined with those
from the discovery drilling in 2020, confirm the presence of a
high-grade vein system on the southwest flank of Pyramid Peak, from
2020’s Apex drill pad at the 2,000-metre level, downslope to the
junction with Snoball Ridge, a distance of approximately 250
metres.
“Pyramid Peak continues to tantalize with the
prospect of a largely untouched, new, gold and silver-rich vein
system running to depth within the mountain,” said Kevin Keough,
President & CEO. "The abundant high-grade grabs and soils, and
the local high-grade gold and silver we’ve achieved in drill
intercepts to date, indicate the system, and the high grades, are
there. We need, however, to sustain a drilling effort longer than
we’ve been able to do to date, given the particular challenges of
this site’s topography and weather. We look forward to advancing
the project further in 2022.”
Table 1 – Snoball Drilling Assays |
Hole ID |
From (m) |
To (m) |
Width (m) |
Au (g/t) |
Ag (g/t) |
As (ppm) |
SB21-014 |
2.57 |
3.50 |
0.93 |
0.40 |
11.1 |
3010 |
SB21-015 |
0.00 |
2.44 |
2.44 |
6.18 |
11.9 |
10000 |
|
84.00 |
84.53 |
0.53 |
0.67 |
47.1 |
5060 |
SB21-016 |
2.96 |
4.45 |
1.49 |
0.34 |
2.2 |
3910 |
SB21-017 |
2.40 |
3.50 |
1.10 |
0.78 |
5.6 |
4760 |
Notes: Widths reported above are drilled core
lengths. True widths are estimated at 70% for holes SB21-014, 016
and 017, and 30% for hole SB21-015.
Table 2 – Drill Hole Azimuths and Dips |
Hole ID |
Pad |
Azimuth(degrees) |
Dip(degrees) |
Total Depth(m) |
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SB21-014 |
1 |
235 |
55 |
139.90 |
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SB21-015 |
1 |
235 |
85 |
119.18 |
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SB21-016 |
1 |
55 |
45 |
77.11 |
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SB21-017 |
1 |
55 |
50 |
61.87 |
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About Evergold
Evergold Corp. has been assembled by a team with
a record of recent success in B.C., namely the establishment of GT
Gold Corp. in 2016 and the discovery in 2017 of the Saddle South
epithermal Au-Ag mineralized zone and the Saddle North porphyry
copper-gold deposit, the latter of which holds more than 20 million
ounces of gold equivalent in all categories. GT Gold was 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 Golden Lion property, the
Snoball property, and the past-producing high-grade Rockland
gold-silver property in Nevada.
Qualified Person
Charles J. Greig, P.Geo., Senior Technical
Advisor to the Company and a Qualified Person as defined by NI
43-101, has reviewed and approved the technical information in this
news release.
For additional information, please contact:
Kevin M. KeoughPresident and CEOTel: (613)
622-1916www.evergoldcorp.cakevin.keough@evergoldcorp.ca
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.
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.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/1e9b427a-ce78-483b-b1fb-a794523a25ab
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