Evergold Corp (TSX-V:EVER, OTC:EVGUF) has concluded its maiden drilling campaign at the road-accessible DEM prospect in central British Columbia.
The campaign concluded on time, under budget and on target for a total of 947 metres (m) drilled in three holes from two pads 350m apart.
Two holes, DEM23-01 & 02. were drilled due east from the first pad, and a single hole, DEM23-03, was drilled due west from the second.
Each of the three holes intercepted variably calcareous fine-grained sedimentary rocks cut locally by metre-scale porphyritic dykes. The host rocks, and locally the dykes, strongly infused over core lengths of up to 20m by cross-cutting sulphide-bearing veinlets and veins, locally of semi-massive to massive character, along with associated disseminated sulphides.
These intervals are also encompassed by broader halos of lower-intensity disseminated and sulphide-bearing veinlets and veins. Sulphide minerals observed in core include abundant disseminated and vein-hosted arsenopyrite, pyrite, and pyrrhotite, with lesser but significant sphalerite, galena, chalcopyrite, and molybdenite.
Sulphosalts are also commonly observed. Core cutting and sampling is underway, with assaying to follow. Laboratory results are anticipated for early in the new year.
“Caution is in order until we receive assay results,” said Kevin Keough, Evergold’s chief executive.
“That said, we are very happy with what we’ve seen in core from this very limited first-ever drill program on a new grassroots prospect. Recall that our target at DEM was a buried porphyry intrusion and associated vein systems, the latter of which we clearly have drilled in all three holes, and starting at surface in the first two. The array of sulphide minerals present, particularly the abundant arsenopyrite, and the broad system intercepts in all three holes from two widely separated pads, suggests a potentially large, well-endowed system. Moreover, the results have demonstrated that the geochemical and geophysical anomalies can be relied upon for targeting the drilling. We therefore anticipate that, should laboratory assay results come back strong, we will be able to systematically build upon this program with follow-up efforts next year.”
The 10,451-hectare DEM property, located in moderate terrain only 40 kilometres northwest of Fort St. James in central British Columbia, lies toward the south end of the Nation Lakes porphyry camp and within the Quesnel Terrane, the latter of which hosts large deposits and long-life mines.