Evergold Corp (TSX-V:EVER, FRA:5EG, OTC:EVGUF) said the current phase of drilling on its Golden Lion property in British Columbia’s Toodoggone region, has successfully wrapped up ahead of schedule, and the junior miner is now ramping-up to drill its Snoball project, which lies in the heart of British Columbia’ famed Golden Triangle.
The Vancouver-based company reported that a total of 1,813 metres (m) was drilled in nine holes at Golden Lion, all of them focused on the large, shallow, GL1 Main gold-silver zone. “A key objective of the drilling was to test for a potential strengthening of the epithermal system below the shallow drilling carried out by the company in 2020, and by Newmont of Canada Ltd in 1984,” said the company.
The firm noted that observations of “intense hydrothermal alteration including base metal sulphide-bearing quartz-carbonate veins, veinlets, stockworks and breccias,” and short intervals of “semi-massive to massive sulphide in core" from the current program suggest this to be the case. Lab assays are anticipated in about six weeks.
READ: Evergold announces drill start at Golden Lion property in British Columbia
The exploration crew will now move from Golden Lion to the company’s Snoball project. The company said it now has set up a camp at the famed Golden Triangle. At Snoball, the company plans to drill in August-September about 2,000m on the new, high-grade, ‘C Zone’ gold-silver trend, discovered in 2020, near the top of Pyramid Peak. Evergold will make an announcement when drilling has kicked off.
“Under the direct supervision of CJ Greig, the team has done a great job executing this season’s Golden Lion exploration program ahead of schedule,” said Evergold CEO Kevin Keough in a statement.
“We’ve tested our key objectives, and we’re now very much looking forward to the assay results. Coupled with what may come from the pending Snoball drill program, our goal is a summer of back-to-back exploratory drilling success.”
Evergold is advancing a portfolio of properties in British Columbia, as well as Nevada.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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