Evergold Corp (TSX-V:EVER, OTC:EVGUF) has announced a Phase 1 drill program encompassing up to 2,100 metres (m) in follow-up drilling to the high-grade gold and silver intercepts delivered by the final three holes of the 2021 field season on the large GL1 Main Zone target on its Golden Lion property in the Toodoggone mining camp, north-central British Columbia.
Toronto-based Evergold noted that the 2021 drill results included the highest grades of gold and silver ever achieved in drilling at Golden Lion, including 31.7 grams per tonne (g/t) gold and 924 g/t silver over 0.6 metres (m) within 2.8m of 10.4 g/t gold and 651 g/t silver, within 11.3m of 5.4 g/t gold and 62 g/t silver in hole GL-21-025, and 3.3m of 11.3 g/t gold and 12 g/t silver in hole GL-21-024.
These high-grade intercepts were hosted within much broader envelopes of moderate-grade mineralization, including, for example, 40.3 metres of 2 g/t gold and 24 g/t silver in hole GL-21-025, it added.
READ: Evergold says it is getting closer to drill program at its past-producing Rockland property in Nevada
"New modeling carried out by our team over winter suggests the GL1 Main zone mineralization plunges to the north/northwest within what appears to be a moderately northeast-dipping mineralized system,” the company’s president and CEO Kevin Keough said in a statement. "The results suggest that all drilling to date, both by Newmont and ourselves, may have been limited to the near-surface volumes of a potentially much larger, deep-running, high-grade epithermal system. A key objective of the approaching Phase 1 drill program will be to commence the process of exploring down-plunge and down-dip, where mineralization is open to expansion including the newly discovered high-grade domain,” he added.
Evergold said preparations are well advanced with drilling expected to start in the latter half of June for completion in July. Contingent on Phase 1 results, it said the program may be expanded into a second phase extending into August-September.
At one time held by mining major Newmont Corp, the GL1 Main Zone is among the best early-stage prospects in the rapidly re-emerging Toodoggone camp, where re-development is being led by the advanced-stage 'Lawyers', 'Ranch', and 'Shasta' projects owned, respectively, by Benchmark Metals, Thesis Gold, and TDG Gold, the company said.
Bridge and road work, currently underway to service these projects, will provide drive-on access to within 10 'easy' kilometres of the GL1 Main prospect by the close of this summer, it added.
Evergold's flagship assets consist of the Golden Lion property and the Snoball property in BC, as well as the past-producing high-grade Rockland gold-silver property in Nevada.
The company believes all three host zones of precious metals offer considerable upside.
Contact the author at stephen.gunnion@proactiveinvestors.com