Mr. Kevin Keough reports
EVERGOLD DRILLS 6.2 G/T AU AND 11.9 G/T AG OVER 2.4 M AT SNOBALL, GOLDEN TRIANGLE, B.C.
Evergold Corp. has released new, shallow intercepts of the Pyramid Peak high-grade vein system in a limited program of 400 metres of drilling in four holes this past September on the company's Snoball property, located in northwestern British Columbia's Golden Triangle region. All four holes were drilled from a single pad, two to a southwest azimuth and two to an opposite northeast azimuth. Assay results for gold and silver, and in particular the key pathfinder element arsenic, indicate the pad was set up directly on veins, apparently striking west-northwest to northwest and dipping steeply, which appear to occur across a zone approximately six metres in width near the drill collars. The latest intercepts, combined with those from the discovery drilling in 2020, confirm the presence of a high-grade vein system on the southwest flank of Pyramid Peak, from 2020's Apex drill pad at the 2,000-metre level, downslope to the junction with Snoball Ridge, a distance of approximately 250 metres.
"Pyramid Peak continues to tantalize with the prospect of a largely untouched, new gold- and silver-rich vein system running to depth within the mountain," said Kevin Keough, president and chief executive officer. "The abundant high-grade grabs and soils, and the local high-grade gold and silver we've achieved in drill intercepts to date, indicate the system, and the high grades, are there. We need, however, to sustain a drilling effort longer than we've been able to do to date, given the particular challenges of this site's topography and weather. We look forward to advancing the project further in 2022."
SNOBALL DRILLING ASSAYS
Hole ID From To Width Au Ag As
(m) (m) (m) (g/t) (g/t) (ppm)
SB21-014 2.57 3.50 0.93 0.40 11.1 3,010
SB21-015 0.00 2.44 2.44 6.18 11.9 10,000
84.00 84.53 0.53 0.67 47.1 5,060
SB21-016 2.96 4.45 1.49 0.34 2.2 3,910
SB21-017 2.40 3.50 1.10 0.78 5.6 4,760
Notes: Widths reported are drilled core lengths.
True widths are estimated at 70 per cent for holes SB21-014, 016 and 017, and 30 per cent for
Evergold has been assembled by a team with a record of recent success in British Columbia, namely the establishment of GT Gold Corp. in 2016 and the discovery in 2017 of the Saddle South epithermal gold-silver-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. Evergold combines four 100-per-cent-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 formerly producing high-grade Rockland gold-silver property in Nevada.
Mr. Greig, PGeo, senior technical adviser to the company and a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical information in this news release.
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