TORONTO, Aug. 25, 2021 (GLOBE NEWSWIRE) -- Evergold Corp. (“Evergold” or the “Company”) (TSX-V:EVER, FRA:A2PTHZ) is pleased to report that drilling will get underway very early in September on the “C Zone” high-grade gold-silver discovery on Pyramid Peak, located on its Snoball property in northwest BC’s Golden Triangle region. The C Zone target returned locally high-grade gold and silver values from initial drilling carried out by the Company in 2020, including 12.9 g/t Au and 54 g/t Ag over 1.4 metres in hole SB20-005 within 9.6 metres of 3.2 g/t Au and 28 g/t Ag. The drilling targets an area with widespread strong to locally very high-grade gold and silver from rock and talus fines sampling carried out in prior years, including highs to 22.7 g/t Au and 1,080 g/t Ag in selected rock samples. All drilling in 2020 was carried out from the Apex drill pad, located on top of Pyramid Peak, suggesting the early drilling may have just caught the top of the system. The pending drilling will be carried out from pads located downslope to the southwest of the Apex pad, and allow for drilling across the breadth of the target, and to depth.
“It’s always exciting to get the drill turning on high-grade gold-silver prospects,” said Kevin Keough, President & CEO, “and Snoball has the potential to deliver attention-getting results. We will keep the drill turning as long as weather allows – generally into October in that part of the world. In the meantime, we continue to await assay results from drilling completed this season on our Golden Lion prospect, where observations in core of intense hydrothermal alteration hosting base metal sulphide-bearing quartz-carbonate veins, veinlets, stockworks and breccias, and short intervals of semi-massive to massive sulphide, lead us to be strongly encouraged. The Golden Lion laboratory assays continue to be anticipated for approximately mid September.”
About Evergold
Evergold Corp. has been assembled by a team with a record of recent success in B.C., namely the establishment of GT Gold Corp. in 2016 and the discovery in 2017-18 of the Saddle South epithermal Au-Ag mineralized zone and the Saddle North porphyry copper-gold deposit, the latter of which holds more than 20 million ounces of gold equivalent in all categories. GT Gold was recently acquired by Newmont Corporation. Evergold combines four 100%-owned properties in prime B.C. geological real estate from well-known geologist C.J. (Charlie) Greig, with the recently optioned Rockland property in Nevada, seasoned management, and a qualified board. The Company’s flagship assets consist of the Golden Lion property, the Snoball property, and the past-producing high-grade Rockland gold-silver property in Nevada. All three properties host zones of precious metals that the Company believes offer considerable near-term upside.
Qualified Person
Andrew J. Mitchell, P.Geo., Vice President, Exploration for Evergold Corp. and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this news release.
For additional information, please contact:
Kevin M. Keough
President and CEO
Tel: (613) 622-1916
www.evergoldcorp.ca
kevin.keough@evergoldcorp.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restrictions on labour and international travel and supply chains, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
