Evergold Corp (TSX-V:EVER, OTC:EVGUF) has announced the start of an airborne magnetic survey of the DEM property, near Fort James in British Columbia.
This will cover the full 10,451-hectare property and follows three reconnaissance drilling programmes late last year at the site’s DEM1 prospect, which suggested high discovery potential.
“Markets continue to be tough, but we remain very keen on the DEM1 prospect and the wider DEM property,” chief executive Kevin Keough said in a press release.
“The results returned from our tiny first pass drill program were highly encouraging and the industry is watching.”
Early assay results had shown a large new porphyry system at DEM1, including the likes of gold, silver, molybdenum, cobalt, tungsten, tellurium and rhenium, according to Evergold.
The latest survey is set to build on 2017 data which revealed a large new anomaly immediately southeast of DEM1, the company added, “of similar scale and character”.
“The magnetic survey now underway is expected to better define this ‘DEM2’ target, possibly reveal others over the roughly 96% of the property not surveyed to date, and provide greater detail and depth penetration over and below the DEM1 prospect, allowing for more effective drill targeting,” Evergold said.
Keough added the firm was looking forward to advancing DEM1 this summer, including “possibly with the participation of an industry partner”.