TORONTO, Jan. 11, 2021 (GLOBE NEWSWIRE) -- Evergold Corp. (TSX-V: EVER, OTC: EVGUF, WKN: A2DVQM) (“Evergold” or the “Company”) is pleased to announce that it has signed a Letter Agreement for an option to purchase the Rockland property, including the past-producing Rockland Mine and adjacent exploration claims, located in the Walker Lane geological belt, Nevada, from Enigma Resources LLC (“Enigma”). As reflected in the significant historical intercepts cited below, the property hosts known zones of high-grade and bulk-tonnage style gold-silver mineralization that are open for further expansion and that the Company believes it can grow, and add to, with new discoveries. Completion of the acquisition of the option (the “Transaction”) is subject to receipt of all necessary approvals, including the approval of the TSX Venture Exchange.
Rockland Property Highlights:
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Hosts a large, robust, epithermal gold-silver vein system with characteristics akin to the neighbouring high-grade Aurora (Hecla Mining) and Bodie vein districts, each with +1.5 million ounces (Moz) of gold production at grades of +1 ounces per ton (opt) gold, excellent potential for the expansion of known zones of mineralization, and the discovery of new ones;
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Numerous significant historical intercepts such as:
° 182.9 metres of 0.40 grams per tonne (g/t) Au in Romarco hole PG-33;
° 109.7 metres of 0.96 g/t Au including 12.2 metres of 1.88 g/t Au in Romarco hole PG-32;
° 59.4 metres of 1.03 g/t Au including 6.1 metres of 4.80 g/t Au in BHP hole RK-11;
° 39.6 metres of 1.16 g/t Au including 3.1 metres of 8.56 g/t Au in BHP hole RK-17;
° 1.5 metres of 19.80 g/t Au in Romarco hole PG-36C;
° 1.5 metres of 5.08 g/t Au and 354 g/t Ag in B2Gold hole RK18-27;
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Excellent location within the Walker Lane structural belt, globally endowed with +80 million ounces of gold and +700 million ounces of silver, and rapidly developing with advanced prospects and/or new mines such as Bullfrog (Bullfrog Gold/Barrick/Augusta), Mother Lode (Corvus Gold), Silicon (Anglo Gold), Castle Mountain (Equinox), Tonopah (Blackrock), and others;
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Historic production from the Rockland Mine of an estimated 50,000 ounces of gold-silver grading as high as 2.8 opt gold equivalent (96 g/t AuEq);
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Drive-on access and workable year-round, meaning low discovery and development costs
“Evergold was founded to create shareholder value and our two flagship properties in B.C., Golden Lion and Snoball, yielded exploration discoveries in our first field season post IPO,” said Kevin Keough, President & CEO. “This year we plan to advance both these discoveries. We are nonetheless moving dynamically to take advantage of good exploration opportunities as they arise, and Rockland is an exciting one, complementary to both Golden Lion and Snoball for its known gold-silver zones and immediate exploration upside, and its potential to provide year-round news flow and mitigate the share price winter flu that most Golden Triangle plays catch.”