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Evergold Prepares to Drill Crucial Follow-up Holes at DEM Gold Discovery, B.C.
TORONTO, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Evergold Corp. (TSXV: EVER, WKN: A2PTHZ) (“Evergold” or the “Company”) is pleased to report that personnel have been
About this update from Evergold Corp.
[{"type":"text","content":" TORONTO, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Evergold Corp. (TSXV: EVER, WKN: A2PTHZ) (“Evergold” or the “Company”) is pleased to report that personnel have been active on the ground at the Company’s road-accessible DEM1 precious and strategic metals discovery in central B.C., refining targets and preparing for the fall drill program, which the Company is now fully financed to complete. “Geophysical surveying earlier this year (see news, May 13, 2024) highlighted an exceptionally strong target lying between last year’s two widely spaced drill pads, with another emerging to the south, suggesting that our first-ever holes on the large DEM1 target may have just missed where we really need to be,” said Kevin Keough, President and CEO. “Testing these targets will be the primary focus for the forthcoming September-October drill program, as we believe they stand the best chance of delivering the stand-out drill results the current market demands.” In July the Company completed a further 249 soil samples over the DEM1 prospect, extending grid coverage to the west, north and south, where the results of previous sampling had indicated the multi-element soil geochemical anomaly overlying the DEM1 “magnetic donut” remained open. A first-ever prospecting and sampling traverse across the DEM2 target area was also completed, during which large areas of newly identified felsic intrusive were mapped including, locally, intrusive hosting disseminated sulphides. Laboratory assays for this work are anticipated later this month, the results of which will be used to better guide the fall exploration program. Additionally, a further 7 line-kms of Induced Polarization (IP) surveying is to be carried out over the DEM1 prospect in the coming weeks, extending existing IP coverage west, north and south. Results of this work will also be used to guide exploration planning. Financing Closed The Company has capped its previously announced (news, May 21, 2024) non-brokered private placement financing at the first tranche gross of $1,072,000 (news, June 12, 2024). All funds received to date in the context of the proposed second tranche announced July 5, 2024 have been returned to subscribers. About the DEM Project The 12,728-hectare DEM property is ideally located in moderate terrain only 40 kms northwest of Fort St. James in central B.C.. The project area lies ...