Evergold Corp (TSX-V:EVER, OTC:EVGUF) announced that a detailed plan of operations has been approved, and a drill permit has been received, for its Rockland gold-silver property in the Walker Lane trend of western Nevada.
The precious metals-focused explorer said the permit approves 33 drill sites and up to 165 drill holes in the eastern half of the property, covering the 800 metre (m) long Rockland East gold zone and nearby targets which, along with the minimum 900m by 1500m area of exposed and altered rocks near the upper limit of the Mason Valley pediment, is believed to represent the upper levels of a high-grade epithermal vein system preserved as a result of down-dropping on range-front faults.
“We have steadily advanced the project over the past 24 months and can now test what we believe to be one of the best drill-ready projects in the Walker Lane,” Evergold CEO Kevin Keough said in a statement.
READ: Evergold awaiting assay results from maiden drill program at its Holy Cross gold-silver project in BC
“Rockland East presents an excellent opportunity to explore for high-quality, high-margin ounces, and we’re very much looking forward to executing our drill plan, possibly with the assistance of a partner,” Keough added.
Evergold noted impressively long intercepts were delivered by the historical discovery holes into the Rockland East gold zone, with key holes stopping in their best mineralization, and highest grades, only due to a shortage of drill steel.
It added that exploration in the Walker Lane trend has been active, stemming in part from AngloGold Ashanti (ASX:AGG)’s new ‘Silicon’ gold discovery near Beatty, which is estimated to have more than three million ounces of gold and 14 million ounces of silver.
Other senior gold producers active in the Walker Lane trend include Newcrest, Centerra, Barrick, Hecla and Coeur, according to the company.
Evergold also stated that it has submitted a drill permit application for the Rockland Mine part of the project area, which is separate from the newly received permit for the Rockland East area, with approvals anticipated this summer.
Evergold is a Canadian explorer with three wholly-owned precious metals projects in BC (Golden Lion, Holy Cross, Snoball), and a single project under option in Nevada (Rockland).
Contact Sean at sean@proactiveinvestors.com