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Evergold Initiates Follow-up Drilling at its Exciting DEM Precious & Strategic Metals Discovery, Central B.C.
TORONTO, Sept. 18, 2024 (GLOBE NEWSWIRE) -- Evergold Corp. (TSX-V: EVER, WKN: A2PTHZ) (“Evergold” or the “Company”) is pleased to announce that drilling has com
About this update from Evergold Corp.
[{"type":"text","content":" TORONTO, Sept. 18, 2024 (GLOBE NEWSWIRE) -- Evergold Corp. (TSX-V: EVER, WKN: A2PTHZ) (“Evergold” or the “Company”) is pleased to announce that drilling has commenced at the Company’s road-accessible DEM prospect, located in central B.C. near Fort St. James, in follow-up to last season’s precious (Au, Ag) and strategic metals (Co, Mo, Cu, W, Te, Re) discovery (see news, January 15, 2024, and highlights below). The program will encompass up to 1,000 metres of drilling in multiple holes targeting a prominent north-south geochemical and geophysical trend, part of the much larger 4 km2 geophysically and geochemically anomalous DEM target area, with completion anticipated in October. The drilling will build upon the highly encouraging results of the Company’s DEM reconnaissance drilling (947 metres in 3 holes) carried out in fall 2023 on the same trend. As highlighted below, the three holes drilled in 2023 intercepted what is interpreted to be a roughly north-south oriented, structurally-focused, epithermal-style and locally sulphide-rich system, comprised of a broad envelope of anomalous to low-grade mineralization encompassing genuinely high-grade intervals of both precious and strategic elements. With better focused and better framed targets evident from recently completed geophysical surveys, the Company is excited at the prospects for this year’s drilling. Helping to generate that excitement is a large underlying sub-circular magnetic feature, akin in plan view to a doughnut, which extends well beyond the limits of the currently targeted core area geochemical-geophysical trend. The broad coverage area and unique character of this underlying magnetic response, together with a first intercept in last year’s drilling of a porphyritic dyke mineralized with very high-grade molybdenum plus significant credits of gold, silver and high-value rhenium, suggests the possibility that the epithermal assemblage may be associated with an underlying and/or nearby intrusion. “Last year we tested the DEM prospect from two pads located a long way apart,” said Kevin Keough, President and CEO. “Intercepts in the holes drilled from those pads have given us an apparent trend to what we believe is essentially a high-grade system, possibly tapped into an underlying intrusion, which appears to trend subparallel to the best of the surface geochemically a...