Evergold Corp (TSX-V:EVER, OTC:EVGUF) unveiled promising results from a recent geophysical survey conducted directly over the DEM1 target.
The survey, which was completed following highly encouraging reconnaissance drill results earlier this year, revealed a large-scale resistivity-low anomaly coinciding with high Induced Polarization (IP) chargeability.
This anomaly, spanning a north-south distance of 500 meters and extending beyond the 400-meter depth limit of the survey, suggests the presence of abundant sulphides, according to Evergold.
The anomaly, approximately 400 meters in width, presents an attractive target for follow-up drilling this season.
“The DEM1 target below and lateral to where we first hit it in last fall’s short program, really looks terrific,” Evergold CEO Kevin Keough said in a statement.
“It is a large, deep-seated target within a considerably larger general target area, and we already know, from the reconnaissance drill results, that the system is richly mineralized.”
The DEM1 target has delivered broad intercepts of low-grade gold and silver from the surface, with local high grades of various high-value elements, including precious and strategic metals and a high-level porphyrytic intrusion hosting molybdenum and gold.
The company plans to follow up on the results with drilling this season.
The DEM project spans 12,728 hectares and is strategically located only 40 kilometers northwest of Fort St. James in central BC. The project area lies within the Quesnel terrane, which hosts significant deposits and mines, including the Mount Milligan mine and Lorraine deposit.
The DEM1 prospect, a roughly 4 km2 target area, is characterized by alteration and mineralogy suggestive of a porphyry system, multi-element soil geochemical signatures, compelling high-relief magnetic anomalies, and the presence of nearby regional scale structures.