Evergold Awaits Assays From First-Ever Drilling at HolyCross Evergold Awaits Assays From First-Ever Drilling at Holy Cross Au-Ag Property, Central B.C.
Toronto, Ontario – November 9, 2022 – Evergold Corp. (“Evergold” or the “Company”) (TSX-V: EVER, OTC: EVGUF, WKN: A2PTHZ). The Company is pleased to report that its maiden drill program on the Company’s 100% owned Holy Cross gold-silver property, located in central B.C., has successfully wrapped up, on time and under budget, for a total of 1,556 metres completed in four holes (Figures 1, 2 and 3, below). Drilling targeted geophysical anomalies coincident with soil geochemical anomalies within the footprint of the very large Holy Cross target area, interpreted to be an intact, felsic intrusive-extrusive flow-dome-related, epithermal gold-silver system, with the higher-grade parts of the system lying at depth (see August 4 news release Figure 1). Significant intervals of sulphide-mineralized rhyolite breccia and quartz stockwork veining accompanied by elevated to (locally) strongly elevated values of precious metal pathfinder elements as determined in the field by x-ray fluorescence (XRF), were observed in hole HX22DH02 and particularly in the final hole of the program, HX22DH04, located approximately 600 metres to the west of hole HX22DH02. Assay results will be released when received and evaluated, currently anticipated for the first quarter of 2023.
“We’re feeling very good about the prospects for Holy Cross,” said Kevin Keough, President & CEO. “As I’ve stated before, the property has a lot going for it – promising geology, drive-on access, a new powerline under construction crossing Holy Cross to Artemis Gold’s 12 million ounce Blackwater deposit, and moderate topography allowing for potential year-round drilling and news flow. We believe it has even more merit now, and look forward to receipt of assay results from this drill program.”
Quality Assurance and Quality Control
Charles J. Greig, P.Geo., the Company’s Chief Exploration Officer and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this news release.
About Evergold
Evergold Corp. is a Canadian mineral exploration company with three wholly-owned precious metals projects in B.C. (Golden Lion, Holy Cross, Snoball), and a single project under option in Nevada (Rockland). Company management is proven, with a track record of exploration success, most recently the establishment of GT Gold Corp. in 2016 and the discovery (see SEDAR / news, July 25 and Dec. 15, 2017 respectively) of the Saddle South epithermal vein and Saddle North porphyry copper-gold deposits near Iskut B.C., which hold more than 20 million ounces of gold equivalent in all categories (Saddle North NI 43-101 Technical Report, August 20, 2020). GT Gold was acquired in 2021 by Newmont Corporation.
For additional information, please contact:
Kevin M. Keough
President and CEO
Tel: (613) 622-1916
www.evergoldcorp.ca