Mr. William Gee reports
EVOLVING GOLD INTERSECTS 14.7 METERS AT 8.76 GPT GOLD CARLIN TREND, NEVADA
Evolving Gold Corp.'s wedge hole CAR-010.1 intersected 21.5 metres
at 6.56 grams per tonne gold (70.5 feet at 0.192 ounce per ton
gold), including 14.7 metres at 8.76 grams per tonne gold (48.2 feet at 0.256 ounce per ton gold) at its Carlin project in Nevada. This wedge hole was drilled from
diamond drill hole CAR-010 which intersected 10.1 metres at 11.09 grams per tonne gold (news release on April 14, 2011). The intersection in CAR-010.1 lies approximately 10 metres east of the
intersection reported in CAR-010.
"The high-grade gold in this wedge hole, combined with similar
intersections in holes CAR-010 and CAR-007, provides valuable
information on the geometry of this high-grade Carlin gold target,"
comments Dr. Quinton Hennigh, chief geologist of Evolving Gold. "We now
believe a northerly to northeasterly structural trend controls this
zone. Our next three holes around CAR-010 will test this model. The
large, high-grade gold deposits of the Carlin trend can have modest
footprints, sometimes no more than a few hundred metres in length. All
of our planned additional step-out holes will lie within a 150-metre
radius of CAR-010."
SUMMARY OF RESULTS FROM WEDGE HOLE CAR-010.1
Hole From (m) To (m) Length (m) Gold (grams Length Gold (ounce
per tonne) (feet) per ton)
CAR-010.1 883.6 905.1 21.5 6.56 70.5 0.192
Including 885.1 899.8 14.7 8.76 48.2 0.256
Including 885.1 894.3 9.2 9.93 30.2 0.290
The company presently has two core rigs drilling on its Carlin trend
properties, one testing a target on its 100-per-cent-owned Humboldt project
and a second drilling approximately 100 metres north of hole CAR-010 on
the Carlin project. The Carlin project is subject to an agreement with
various subsidiaries of Newmont Mining Corp.
A technical report (NI 43-101 report) has been completed and filed for
the company's three gold exploration projects in the Carlin trend and
it is now available on SEDAR.
Jake Creek
The company is pleased to announce it has received amended permits for
an additional 20 reverse circulation drill holes at its 100-per-cent-owned
Jake Creek property near the Twin Creeks and Ken Snyder mines in north-central Nevada. Hole JC-005, drilled last year, intersected 28.9 metres
at 1.33 grams per tonne gold including 1.5 metres at 11.3 grams per
tonne gold (news release, Nov. 18, 2010). Drilling is scheduled to begin by mid-June.
Rattlesnake Hills
On May 9, 2011, the company reported that it had signed a letter agreement with
Agnico-Eagle Mines Ltd. to form a joint venture on the Rattlesnake
Hills project. Preparation of the definitive joint venture agreements
is proceeding well; however, the time frame for completing the definitive
documentation has been extended from June 1 to June 17. Concurrently, Agnico-Eagle Mines has signed a drill contract
and the drill program on the Rattlesnake joint venture is expected to begin core
drilling during June, 2011.
In addition, Evolving Gold wishes to report that Dr. Hennigh is shifting his
role within the company in order to better focus his time on
exploration and project development. While retaining his role as chief
geologist of the company, Dr. Hennigh will step down as president in
order to reduce his daily administrative duties. "This shift in
responsibilities will allow me to focus on what I enjoy most, being
actively involved in the exploration for major new gold deposits,"
commented Dr. Hennigh. "I am very excited about our exploration programs in
Nevada and believe that, this year, these projects will deliver untapped
value for our shareholders."
In compliance with
National Instrument 43-101, Dr. Hennigh, PhD, PGeo, is the
qualified person responsible for the accuracy of this news release.
We seek Safe Harbor.
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