VANCOUVER, June 8, 2011 /CNW/ - Evolving Gold Corp. (TSX: EVG) (FSE: EV7) (the "Company") is pleased to report that wedge hole CAR-010.1 intersected 21.5 meters
at 6.56 gpt (grams per tonne) gold (70.5 feet at 0.192 opt (oz per ton)
gold) including 14.7 meters at 8.76 gpt gold (48.2 feet at 0.256 opt
gold) at its Carlin project in Nevada. This wedge hole was drilled from
diamond drill hole CAR-010 which intersected 10.1 meters at 11.09 gpt
gold (news release, April 14, 2011). The intersection in CAR-010.1 lies approximately 10 meters 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 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 meters in length. All
of our planned additional step-out holes will lie within a 150-meter
radius of CAR-010."
| Summary of Resultsfrom Wedge Hole CAR-010.1 | |
| Hole | | From (m) | | To (m) | | Length (m) | | Gold (grams per tonne) | | Length (feet) | | Gold (oz 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% owned Humboldt project,
and a second drilling approximately 100 meters north of hole CAR-010 on
the Carlin project. The Carlin project is subject to an agreement with
various subsidiaries of Newmont Mining Corporation.
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 twenty reverse circulation drill holes at its 100% 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 meters
at 1.33 grams per tonne gold including 1.5 meters at 11.3 grams per
tonne gold (news release, November 18, 2010). Drilling is scheduled to begin by mid-June.
Rattlesnake Hills
On May 9th, 2011 the Company reported that it had signed a Letter Agreement with
Agnico-Eagle Mines Limited to form a joint venture on the Rattlesnake
Hills project. Preparation of the definitive joint venture agreements
is proceeding well, however the timeframe for completing the definitive
documentation has been extended from June 1st to June 17th. Concurrently, Agnico-Eagle Mines Limited has signed a drill contract,
and the drill program on the Rattlesnake JV is expected to begin core
drilling during June 2011.
In addition, EVG wishes to report that Quinton 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,"
comments 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."
About Evolving Gold Corp.
Evolving Gold is focused on exploring its four gold properties in and
adjacent to the productive Carlin district of northern Nevada, and on
its gold discovery at Rattlesnake Hills, Wyoming. In compliance with
National Instrument 43-101, Quinton Hennigh, Ph.D., P.Geo., is the
Qualified Person responsible for the accuracy of this news release.
For more information about Evolving Gold please visit: www.evolvinggold.com. To receive regular updates or to receive a follow-up call from
Investor Relations please sign up at: http://evolvinggold.com/sign-up.php.
On Behalf of the Board of Directors
EVOLVING GOLD CORP.
"William Gee"
William Gee
CEO and Director
FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements, which address
future events and conditions, which are subject to various risks and
uncertainties. The Company's actual results and financial position
could differ materially from those anticipated in such forward-looking
statements as a result of numerous factors, some of which may be beyond
the Company's control. These factors include: results of exploration
activities and development of mineral properties, fluctuations in the
marketplace for the sale of minerals, the inability to implement
corporate strategies, the ability to obtain financing, currency
fluctuations, general market and industry conditions and other risks
disclosed in the Company's filings with Canadian Securities Regulators.
Forward-looking statements are based on the expectations and opinions of
the Company's management on the date the statements are made. The
assumptions used in the preparation of such statements, although
considered reasonable at the time of preparation, may prove to be
imprecise and, as such, undue reliance should not be placed on
forward-looking statements. The Company expressly disclaims any
intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise, except as required by law. We seek safe harbour.
<p> <b>Investor Relations:</b><br/> Graham Johnstone<br/> Tel: 778-331-2023<br/> <a href="mailto:info@evolvinggold.com">info@evolvinggold.com</a> </p>