Evergold Corp (TSX-V:EVER, OTC:EVGUF) has announced assay results or initial batches of core from a small reconnaissance drill program completed in late fall 2023 at the large new DEM prospect in British Columbia, which show broad intercepts of precious metals (gold, silver) encompassing, locally, narrow intercepts of high-grade precious and high-grade/high value strategic metals (molybdenum, cobalt, tungsten), from two drill pads spaced some 400 metres apart.
The mineral exploration company said the high-grade intercepts include a first porphyry-hosted intercept that included 0.82% molybdenum with 1.2 grams per tonne (g/t) gold, 3.7 g/t rhenium and silver-enriched (8 g/t) sulphides from veining.
"These are very encouraging results for a first pass program, with results to date suggesting we are on the fringes of a large, and somewhat unusual, intrusion-related system," Evergold CEO Kevin Keough said in a statement.
“We’ve seen an impressive array of sulphide minerals throughout our first drill holes, high grades (locally) and broad system widths, coupled with a rather unique array of high-value elements including gold and silver, and narrow but high-grade intercepts of molybdenite with associated rhenium, as well as cobalt and tungsten, plus lesser copper, lead, zinc and locally elevated tellurium," he added.
The company noted that additional assays are pending for all three holes, with higher density drilling now in planning for the 2024 field season.
Evergold is a mineral exploration company with projects in British Columbia and Nevada.