TORONTO, Jan. 24, 2022 (GLOBE NEWSWIRE) —(“Evergold” or the “Company”) ( , OTC:EVGUF, WKN:A2PTHZ) is pleased to announce release of an animated video of the gold and silver-rich GL1 Main zone, located on the Company’s Golden Lion property in north-central B.C. The video has been created, in part, from data generated by a 3D geological modeling exercise, imagery and results from which were released early last week (see news, January 17, 2022). The video shows the progressive development of the GL1 Main zone through time, commencing with Newmont’s historical drilling in 1984, through drilling carried out by Evergold in 2020, and culminating with Evergold’s 2021 drill discovery, in its final 3 holes, of the property’s first high-grade domain. The high-grade domain, which comes to surface and returned the highest grades of precious and base metals yet seen in drilling at Golden Lion (see news, November 16, 2021), will be the focus of follow-up drilling in the 2022 field season.
The video may be viewed at: https://vimeo.com/664395801/d4f64d0a12
“This video makes the large scale of the GL1 Main zone immediately evident, along with its considerable expansion potential,” said Kevin Keough, President & CEO. “It does this by placing GL1 Main within the context of the much larger surface geochemical anomalies which encompass it. Also helpful for assessing the potential of the zone is the topographical context, which by B.C. standards is moderate, and allows for site access directly up the broad valleys common to the Toodoggone area.”
has been assembled by a team with a record of recent success in B.C., namely the establishment of in 2016 and the discovery in 2017-18 of the Saddle epithermal and 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 . Evergold combines four 100%-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 past-producing high-grade Rockland gold-silver property in Nevada. All three properties host zones of precious metals that the Company believes offer considerable upside.
Charles J. Greig, P.Geo., a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this news release.
For additional information, please contact:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.
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