- Junior company advancing a portfolio of properties in British Columbia’s famed Golden Triangle region and Nevada
- Actively drilling two projects in 2021 with multiple targets identified and broad zones of mineralization
- Closed oversubscribed $8 million financing in early 2021
- CEO Kevin Keough founded GT Gold Corp which was recently acquired by Newmont Goldcorp in a near C$400 million deal
What Evergold does:
Evergold Corp (CVE:EVER) (OTCMKTS:EVGUF) (FRA:5EG) is a Canadian junior explorer with a knack for discovery.
While some junior companies can go years without success, Evergold managed to make two significant discoveries on its British Columbia property portfolio in 2020 at the Snoball and Golden Lion projects.
Nestled in the province’s famed Golden Triangle, Evergold believes that it has just scratched the surface of an untouched new high-grade epithermal vein system at Snoball, high up on Pyramid Peak. The C Zone discovery in particular is a high-grade prospect that hosts the same style of gold and silver-enriched veining that is typical of the Golden Triangle. What’s more, the high elevation of the discovery suggests early drilling may have just caught the top of the system.
Evergold’s other properties boast similar potential. Golden Lion, located east of Snoball in similar geological terrain, is a 100% owned, helicopter accessible, 5,099-hectare that hosts the large, near-surface, GL1 Main epithermal gold-silver system. A 2020 drill program confirmed both bulk-tonnage and high-grade vein styles of mineralization, along more than 800 metres of strike, and geophysics and geochemistry strongly suggests that here too, as at Snoball, the best of the system may lie just below, along with considerable strike potential and the emerging nearby GL1 North Ridge prospect.
Other highlights in Evergold’s portfolio include the 1,573-hectare Spanish Lake property that is located in British Columbia’s interior, in the famed Cariboo gold mining camp, just east of Williams Lake and approximately five kilometres along strike from the multi-million-ounce Spanish Mountain gold deposit. Also in the vicinity of a multi-million-ounce deposit is the 3,784-hectare never-drilled Holy Cross property, located nearly 60 kilometres north of the Blackwater gold operation owned by Artemis Gold Inc.
Early this year Evergold inked a deal to option the past-producing, high-grade Rockland gold-silver property in Nevada, upon which exploration work is already underway. Similar to the situation at Golden Lion, the Rockland property hosts a large gold-silver zone over some 800 metres of strike, which carries a trace element signature that the company believes may represent the ‘halo’ above a high-grade, Midas or Sleeper Mine-style, epithermal vein system.
The Golden Triangle has been in the spotlight in recent weeks after mining giant Newmont Goldcorp inked a deal to acquire junior gold miner GT Gold Corp for a value now believed to exceed C$400 million. Founded in 2016 by Evergold CEO Kevin Keough, GT Gold’s primary asset is the Saddle gold-copper project, consisting of the Saddle North and Saddle South deposits, located about 14 kilometres west of the Red Chris copper-gold mine in northwest British Columbia.
With well-known BC geologist CJ “Charlie” Greig leading the exploration team, Keough and Greig delivered both the Saddle South and Saddle North copper-gold discoveries in 2017, now holding more than 20 million ounces of gold equivalent in all categories - and growing.
How is it doing:
In June, Evergold announced that the re-opening of the exploration camp at its Golden Lion property in northern British Columbia’s Toodoggone region is well underway, with drilling expected to begin by the end of the first week of July.
The company said at least 4,500 metres of drilling is planned, split between both the Golden Lion and Snoball properties, targeting the large GL1 Main gold-silver zone at Golden Lion and the high-grade gold-silver ‘C Zone’ at Snoball.
Evergold CEO Kevin Keough told investors that at Snoball, the company is hoping to tap into the core of the new high-grade vein system first drilled in 2020 and follow it to depth, which would “work the topography to our advantage.”
At Golden Lion, meanwhile, drilling has indicated the presence of a large, shallow, gold zone. The company’s immediate objective is to test the high tenor geophysical response below the area drilled in 2020, which could justify subsequent drilling along and across strike.
Prior to the closing of its private placement in January, Evergold revealed broad intervals of low-grade gold-silver epithermal style mineralization encompassing higher-grade intervals intersected in step-outs to earlier reported holes at Golden Lion. Including historical drilling by Newmont, the GL1 Main Zone now exceeds 800 metres in strike length, with geophysical results suggesting it may sit atop zones of considerably stronger mineralization – key targets for the pending 2021 field season.
Snoball is also featuring heavily in Evergold’s 2021 plans. In March, Evergold announced widespread strong and high-grade gold and silver values from rock and talus fines sampling at the C Zone located on Pyramid Peak, close to drilling carried out from the Apex drill pad in 2020, and possibly representing the sought-for system “sweet spot”. Intercepts from the final hole of the previous year’s drill program, announced March 8, included 18.4 grams per ton (g/t) gold and 5.6 g/t silver over 1.6 metres, reinforcing the pattern of high-grade gold-silver intercepts established by early drill results delivered in 2020. Highs from the talus fines sampling included 48.3 g/t gold and 141 g/t silver in sample SB20DBR05, and 25.6 g/t gold and 750.00 g/t silver in one sample.
And at Rockland, the company has completed compiling and modeling historical drill data and will commence geological, geochemical and geophysical field work on the property this spring, with a view to pinpointing high-quality drill targets for testing in 2022.
Inflection points:
- 2,500 metre drill program starts in mid-June at Golden Lion with initial results anticipated in July or August
- 2,000 metre drill program starts late July at Snoball with initial results in August or September
- Field work at Rockland ahead of 2022 drill program
What the boss says:
Commenting on the company’s 2021 summer exploration plans, Evergold CEO Kevin Keough said in a statement: “We are excited to have the drills turning soon, with the goal of building on the positive early-stage results of 2020 and firmly demonstrating the merit and potential of Snoball and Golden Lion.”
“Both these projects are exciting for the near-term potential they offer, and we’re fully financed to execute,” Keough added.
Contact Sean at sean@proactiveinvestors.com
