TORONTO, Aug. 03, 2021 (GLOBE NEWSWIRE) -- Evergold Corp. (“Evergold” or the “Company”) (TSX-V:EVER, FRA:A2PTHZ) is pleased to report that the current phase of drilling on the Golden Lion property, located in north-central BC’s Toodoggone region, has successfully wrapped up ahead of schedule. A total of 1,813 metres was drilled in nine holes, all of them focused on the large, shallow, GL1 Main gold-silver zone. A key objective of the drilling was to test for a potential strengthening of the epithermal system below the shallow drilling carried out by the Company in 2020, and by Newmont of Canada Ltd. in 1984. Observations of intense hydrothermal alteration including base metal sulphide-bearing quartz-carbonate veins, veinlets, stockworks and breccias, and short intervals of semi-massive to massive sulphide in core from the current program suggest this to be the case. Laboratory assays are anticipated in approximately six weeks.
The exploration crew will now move, as per previous guidance, from Golden Lion to the Company’s Snoball project, located in the heart of B.C.’s Golden Triangle, where a camp is now in place. At Snoball, the Company intends to drill in August-September approximately 2,000 metres on the new, high-grade, ‘C Zone’ gold-silver trend, discovered in 2020 near the top of Pyramid Peak. An announcement will be made when drilling has commenced.
“Under the direct supervision of C.J. Greig, the team has done a great job executing this season’s Golden Lion exploration program ahead of schedule,” said Kevin Keough, President & CEO. “We’ve tested our key objectives, and we’re now very much looking forward to the assay results. Coupled with what may come from the pending Snoball drill program, our goal is a summer of back-to-back exploratory drilling success.”