The model highlights in red the location of the first high-grade domain drilled on the property, intersected by the Company in the final 3 holes of the 2021 program. This high-grade domain, which comes to surface and returned the highest grades of precious and base metals yet seen in drilling at Golden Lion, will be the focus of follow-up drilling in the 2022 field season. Drilling in this domain returned (news,
“Last year’s program demonstrated that the
Key take-aways from the 3D geological modelling exercise include:
- Zone strike is NNW-SSE and dip is approximately 75 degrees ENE
- Average zone true width exceeds 100 metres
- Mineralization is open along strike to the northwest and southeast, and to depth down-dip to the northeast
- Alteration and grades appear to increase down-dip on all 3 sections drilled by the Company in 2021
- Previous operators erred historically by not executing undercuts to any of their shallow angle holes
- High grades can and do come to surface, as confirmed by 2021 drill section GL21-23/24/25
- Drill density must be increased in both the lateral and vertical dimensions to find and delineate the high-grade domains; drilling must push out both to depth and along strike
- Geochemical anomalism (Au-Ag-Zn-Pb-Cu) extends along some 2.7 kms of strike to the northwest and southeast from GL1 Main, suggesting strong zone expansion / exploration potential
- Ag-Au zonation is visible in drill assays and surface sampling results
Photos accompanying this announcement are available at:
Figure 1: https://www.globenewswire.com/NewsRoom/AttachmentNg/fcd129bc-4e41-4980-9170-c78556de943f
Figure 2: https://www.globenewswire.com/NewsRoom/AttachmentNg/df896247-c37e-4ae4-8258-1dd6ef7f5579
Figure 3: https://www.globenewswire.com/NewsRoom/AttachmentNg/838dca02-15de-4930-97b9-c8029e7a9774
Figure 4: https://www.globenewswire.com/NewsRoom/AttachmentNg/15d5b3d3-5ecf-4c67-9fcb-5f0a15698b61
About
Qualified Person
For additional information, please contact:
Kevin M. Keough
President and CEO
Tel: (613) 622-1916
www.evergoldcorp.ca
kevin.keough@evergoldcorp.ca
Neither the
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.
![](https://ml.globenewswire.com/media/NjJmNzA2ZTQtZGEzOC00NTUwLWI3YWYtZGUxNGVmMmRmMmZkLTEyMDE1MjQ=/tiny/Evergold-Corp-.png)
Figure 1
![](https://ml.globenewswire.com/media/fcd129bc-4e41-4980-9170-c78556de943f/medium/figure-1.png)
Perspective view of GL1 Main showing gold and silver soil geochemical anomalies on topography
Figure 2
![](https://ml.globenewswire.com/media/df896247-c37e-4ae4-8258-1dd6ef7f5579/medium/figure-2.png)
Zoomed-in perspective view northwest of the modeled GL1 Main zone on topography
Figure 3
![](https://ml.globenewswire.com/media/838dca02-15de-4930-97b9-c8029e7a9774/medium/figure-3.jpg)
Underground view west, of the modeled GL1 Main zone (yellow) and initial high-grade domain (red)
Figure 4
![](https://ml.globenewswire.com/media/15d5b3d3-5ecf-4c67-9fcb-5f0a15698b61/medium/figure-4.png)
Underground view SW of the emerging high-grade domain (red), within the modeled GL1 Main zone (yellow)
2022 GlobeNewswire, Inc., source