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Evergold Options Drill-Ready, High Potential DEM Gold-Silver Property in British Columbia
TORONTO, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Evergold Corp. (TSX-V: EVER, OTC: EVGUF, WKN: A2PTHZ) (“Evergold” or the “Company”) is pleased to announce that it ha
About this update from Evergold Corp.
[{"type":"text","content":" TORONTO, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Evergold Corp. (TSX-V: EVER, OTC: EVGUF, WKN: A2PTHZ) (“Evergold” or the “Company”) is pleased to announce that it has entered into an option agreement (the “Option Agreement”) with non-arms-length vendors Charles Greig and Alex Walcott (“the Optionors”), for the exclusive right and option to acquire a 100% interest in the drill-ready, highly prospective DEM gold-silver property (the “DEM Property), located in central British Columbia (Figure 1). A NI 43-101 compliant technical report is being prepared for the DEM Property and is expected to be delivered by an independent Qualified Person in mid-August and prior to the closing of the Option Agreement. The DEM Property hosts the newly developed, never drilled DEM prospect, a roughly 4km2 target area exhibiting strong multi-element geochemical anomalism in soils, including highs to 2.1 ppm Au, 160 ppm Ag, 0.5% Pb, 0.41% Zn, 0.76% As, and 651 ppm Cu, directly associated with an underlying large scale donut-shaped magnetic anomaly and exceptionally strong, deep-running IP chargeability, suggesting high discovery potential. The exceptional merits of the DEM prospect may be viewed in a presentation available from the Company’s website at www.evergoldcorp.ca, and in Figures 2 to 6, below. “Our goal with the acquisition of the DEM Property has been to add to our portfolio a strong untested new exploration prospect with good access, offering the potential for high payoff at relatively low cost,” said Kevin Keough, President & CEO. “In the past year, we have seen the market respond to new discoveries, and the DEM Property has all the positive geological, geochemical and geophysical attributes that we look for when searching for one. We are therefore happy to have secured DEM on reasonable terms, and are looking forward to getting it drilled at the earliest possible juncture.” About the DEM Property The 10,451 hectare DEM Property is advantageously located in moderate terrain only 40 kms northwest of Fort St. James in central B.C. A forest service road provides drive-on access directly to the DEM target. The claims lie within and close to the western boundary of the Quesnel Terrane, a major B.C. porphyry belt hosting large deposits and long-life mines including Lorraine, Mount Milligan (50 kms to the northeast of DEM), Mount Polly...