Canadian explorer Evergold (TSXV: EVER; US-OTC: EVGUF) owns precious-base metal projects in Nevada and the Toodoggone and Golden Triangle regions of British Columbia.
The Toronto-headquartered junior is focused on advancing its 100%-owned flagship Golden Lion gold-silver-zinc-lead project in north-central B.C., about 360 km northwest of the town of Mackenzie.
The property covers 5,099 hectares of highly prospective rocks in the Toodoggone district of the prolific metal-endowed Stikine terrane, an area that hosts several porphyry and epithermal mineralized systems and high-grade past-producing mines and is presently seeing a resurgence of exploration and development activity. Significant projects in the region include Benchmark Minerals’ (TSXV: BNCH; US-OTC: CYRTF) Lawyers gold-silver project, about 25 km south of Golden Lion, and the Ranch gold-copper project owned by Thesis Gold (TSXV: TAU), 15 km to the southwest.
Evergold recently completed its 2021 drill program on Golden Lion. The drilling comprised nine holes (1,811 metres) and targeted the GL1 Main zone.
Kevin Keough, Evergold’s president and CEO, says the “final three holes of the drilling campaign intercepted by far the highest grades of gold, silver, zinc, and lead ever achieved on the property in what we are now calling our first high-grade domain.”
“The drilling established that this high-grade domain occurs within a broad envelope of moderate grade mineralisation, with the high grades starting at surface and extending to at least 190 metres down-dip to the northeast.”
The three drill holes were GL21-025, which returned 40.31 metres grading 1.99 g/t gold, 23.7 g/t silver, 1.2% zinc, and 0.5% lead from 119.69 metres downhole, including 2.81 metres of 10.35 g/t gold, 651.3 g/t silver, 10.9% zinc, and 3.7% lead.
Hole GL1-024 intersected 66 metres of 1.36 g/t gold, 11 g/t silver, 0.3% zinc, and 0.2% lead starting from 43 metres, including 3.3 metres of 11.3 g/t gold, 12 g/t silver, 1.9% zinc, and 2.3% lead; and GL1-023 hit 40.88 metres of 0.98 g/t gold, 1.8 g/t silver, 0.4% zinc, and 0.5% lead from 82.12 metres, including 1.16 metres of 10.91 g/t gold, 5.5 g/t silver, 1.4% zinc, and 0.2% lead.
According to Keough, previous sampling and mapping by Evergold combined with the company's 2020 drill program (16 holes totalling 2,988 metres) confirmed the presence of an extensive precious and base metals enriched epithermal system at surface that consisted of a broad mineralized envelope defined by bulk tonnage-style intercepts.
“Geophysical surveys conducted at the same time suggested the potential for system strengthening at depth, which we opted to test with the 2021 drill program. While the high grades are certainly there at depth, one positive surprise of the 2021 program is that they also come right to surface between the widely space previous drilling,” he said.
Geological modelling by the company indicates that GL1 Main is a large, shallow, steeply northeast-dipping, northwest-southeast trending gold-silver plus zinc and lead zone that remains open along strike and at depth.
The zone is situated “in proximity to a fault contact and mineralization is traceable with sampling along some 2,700 metres of strike, with our widely spaced drilling to date testing only along about 500 metres,” Keough said.
He added that the 2021 drill results suggest significant potential for several high-grade domains to emerge as drill density is increased and exploration pushes into untested areas down-dip as well as along adjacent areas of the major fault associated with the zone.
Evergold is modelling combined soil, drill assays, and geophysical datasets for GL1 Main with a view to releasing imagery from the modelling exercise early in 2022. Keough says these models will guide the next drill program and, now that the company’s first high-grade domain has been identified, it should be “very well positioned to rapidly advance the GL1 Main prospect in 2022, and deliver superior, high-grade drill results.”
The company is also “well-financed with about $3 million in the treasury,” he said.
Evergold’s other properties in B.C. include the high-grade gold-silver Snoball project in the Golden Triangle and the drill-ready Holy Cross gold-silver-copper project, about 60 km north of Artemis Gold’s (TSXV: ARTG) Blackwater project. It also owns the high-grade past-producing Rockland gold-silver project in the Walker Lane Trend in Nevada.
The preceding Joint-Venture Article is PROMOTED CONTENT sponsored by EVERGOLD and produced in co-operation with Canadian Mining Journal. Visit www.evergoldcorp.ca for more information.
April 25, 2024
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