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Evergold Plans Follow-up Drilling on 2021 Discovery of High-Grade Gold and Silver on the Golden Lion Property, Toodoggone Mining Camp, B.C.
TORONTO, May 09, 2022 (GLOBE NEWSWIRE) -- Evergold Corp. (TSXV: EVER) (“Evergold” or the “Company”), is pleased to announce a Phase 1 drill program encompassing
About this update from Evergold Corp.
[{"type":"text","content":" TORONTO, May 09, 2022 (GLOBE NEWSWIRE) -- Evergold Corp. (TSXV: EVER) (“Evergold” or the “Company”), is pleased to announce a Phase 1 drill program encompassing up to 2,100 metres, in follow-up to high-grade gold and silver intercepts delivered by the final 3 holes of the 2021 field season on the large GL1 Main Zone target, located on the Golden Lion property in the Toodoggone mining camp, north-central British Columbia, Canada. The 2021 drill results (see news, November 16, 2021), included the highest grades of gold and silver ever achieved in drilling at Golden Lion, including 31.7 g/t Au and 924 g/t Ag over 0.6 metres within 2.8 metres of 10.4 g/t Au and 651 g/t Ag, within 11.3 metres of 5.4 g/t Au and 62 g/t Ag in hole GL-21-025, and 3.3 metres of 11.30 g/t Au and 12 g/t Ag in hole GL-21-024. These high-grade intercepts were hosted within much broader envelopes of moderate-grade mineralization, including, for example, 40.3 metres of 2.0 g/t Au and 24 g/t Ag in hole GL-21-025. Preparations are well advanced with drilling expected to start in the latter half of June for completion in July. Contingent on Phase 1 results, the program may be expanded into a second phase extending into August-September. At one time held by mining major Newmont Corp., the GL1 Main Zone is among the best early-stage prospects in the rapidly re-emerging Toodoggone camp, where re-development is being led by the advanced-stage ‘Lawyers’, ‘Ranch’, and ‘Shasta’ projects owned, respectively, by Benchmark Metals, Thesis Gold, and TDG Gold (Figure 1). Bridge and road work, currently underway to service these projects, will provide drive-on access to within 10 easy kms of the GL1 Main prospect by the close of this summer. “New modeling carried out by our team overwinter suggests the GL1 Main zone mineralization plunges to the N/NW within what appears to be a moderately NE-dipping mineralized system” (Figures 2 and 3), said Kevin Keough, President & CEO. “The results suggest that all drilling to date, both by Newmont and ourselves, may have been limited to the near-surface volumes of a potentially much larger, deep-running, high-grade epithermal system. A key objective of the approaching Phase 1 drill program will be to commence the process of exploring down-plunge and down-dip, where mineralization is open to expansion including the newly di...