Evergold Kicks Off Follow-up Drilling at DEM Project
TORONTO — Evergold Corp. (TSX-V: EVER, WKN: A2PTHZ) is excited to announce the start of drilling at the much-anticipated DEM prospect in Central B.C. This new phase follows last season's successful exploration, which uncovered substantial deposits of precious metals, including gold and silver, along with strategic metals like cobalt, molybdenum, copper, tungsten, tellurium, and rhenium.
Drilling Program Overview
The current drilling agenda will cover up to 1,000 metres across several holes, strategically aimed at a key north-south geochemical and geophysical trend. This trend is part of an expansive area measuring 4 km2 filled with geophysical and geochemical anomalies linked to the DEM project. The drilling program is scheduled for completion in the next month.
Continuing a Successful Journey
This new drilling effort builds on the encouraging results from reconnaissance drilling conducted last fall. Last season's work included 947 metres drilled across three holes, indicating a structurally-focused, north-south mineralization system with a blend of low-grade mineralization and high-grade intervals rich in valuable metals. Recent geophysical surveys have provided more precise targets, boosting enthusiasm for this year’s drilling initiative.
Noteworthy Geological Features
One of the standout features of the DEM project is a large, doughnut-shaped magnetic anomaly. This magnetic response extends well beyond the primary target area, suggesting that there could be a larger intrusion lying beneath the surface. Previous exploration in the area revealed a porphyritic dyke, rich in exceptional grades of molybdenum, as well as valuable amounts of gold, silver, and rhenium.
Focusing on New Anomalies
Kevin Keough, President and CEO of Evergold, expressed his excitement regarding the new drilling targets. The company will concentrate on two newly identified high-priority anomalies, referred to as Features "A" and "B," pinpointed through selective geophysical methods. These anomalies indicate that earlier drilling might have narrowly missed high-grade mineralization.
Advantage of the DEM Property
The DEM property spans a notable 12,728 hectares and is easily accessible, located in moderate terrain about 40 kilometers northwest of Fort St. James. This region is known for its significant deposits and historically rich mines, including the renowned Mount Milligan mine. The blend of extensive logging and existing forest service roads allows for easy access to the DEM project site for ongoing exploration.
Exploration Benefits of the DEM Project
At the heart of the DEM project lies the DEM1 prospect, which suggests a potential porphyry system. The presence of striking magnetic anomalies, coupled with a multi-element soil geochemical signature, indicates a promising exploration opportunity. Previous reconnaissance drilling at DEM displayed favorable intercepts of high-grade precious and strategic metals within a wide low-grade envelope, underscoring the project's significant exploration value. For more details about the DEM project, check out the Company’s official website.
Quality Control Protocols
The technical details included in this announcement have been validated by Charles J. Greig, M.Sc. P.Geo., who is the Chief Exploration Officer. As a Qualified Person under NI 43-101 standards, he has thoroughly reviewed and endorsed the methodologies and findings shared.
About Evergold Corp.
Evergold Corp. is a mineral exploration company listed on the TSX Venture Exchange, known for its solid projects in British Columbia and Nevada. The company has a skilled team with a proven track record in the junior mining sector, highlighted by the establishment of GT Gold Corp. and the discovery of significant deposits in B.C., which were later acquired by Newmont.
Contact Details
For more information, feel free to get in touch with:
Kevin M. Keough
President and CEO
Tel: (613) 622-1916
Email: kevin.keough@evergoldcorp.ca
Website: www.evergoldcorp.ca
Frequently Asked Questions
What is the focus of the current drilling program by Evergold Corp.?
The current drilling program aims to explore deposits of precious and strategic metals identified in previous drills at the DEM project.
What were the key highlights of the 2023 drilling results?
The 2023 drilling results showcased a complex mineralization system, including intercepts of both low-grade and high-grade precious and strategic metals.
Where is the DEM project located?
The DEM project is located in central British Columbia, roughly 40 km northwest of Fort St. James, making it quite accessible.
Who is responsible for reviewing the technical information for Evergold Corp.?
The technical information is reviewed and approved by Charles J. Greig, the Chief Exploration Officer, who is a Qualified Person under NI 43-101 standards.
What are Evergold Corp.'s future plans?
Evergold Corp. is looking to expand its mineral exploration efforts and build on earlier drilling successes to uncover more high-grade mineral deposits at the DEM project site.
