Evolving Gold is focused on exploring its gold properties in and adjacent to the productive Carlin district of northern Nevada, and on advancing its gold discovery at Rattlesnake Hills, Wyoming.
Evolving Gold reports high grade gold at Carlin-Humboldt project
Evolving Gold Corp. (TSE:EVG) announced drill results Thursday from four holes at its Carlin-Humboldt project in north central Nevada, which now show that two areas have the potential for high grade gold deposits.
Highlights include drill hole CAR-010, a step out of around 26 metres west-southwest from previous hole CAR-007 that returned 18.3 metres at 11.7 g/t gold.
CAR-010 intersected 10.1 metres at 11.09g/t gold, including 3.1 metres at 29.75 g/t gold, within a broader interval of 22.3 metres at 5.69 g/t gold. Currently, the Vancouver-based company said it is working on deepening the hole to a depth of 1,200 metres. Results for the remainder of CAR-010 are expected in May.
Two more of the holes reported today represent wedge holes from CAR-002, the first hole to intersect gold mineralization at the property. CAR-002.1, drilled to the east of CAR-002, intersected 0.7 metres at 8.18 g/t gold and 1.5 metres at 6.81 g/t gold, while CAR-002.2, drilled to the west, assayed 0.6 metres at 17.42 g/t gold and 2.7 metres at 4.29 g/t gold.
"We now recognize two areas with potential for high-grade gold deposits, one in the vicinity of holes CAR-007 and -010, the other 625 meters southeast near hole CAR-002. Data from these holes coupled with our newly acquired 3D magneto-telluric model provide us with confidence in our exploration going forward," said president and chief geologist, Quinton Hennigh.
The fourth hole from the batch of results was a re-entry of previous hole CAR-003, which has now been extended to a depth of 1,396 metres. The bottom 121.9 metres intersected 0.34 g/t gold.
The Carlin-Humboldt project comprises two adjoining land packages, the Humboldt property, and the Carlin site, which is subject to an agreement with Newmont Mining (NYSE:NEM).
Evolving Gold is exploring for gold at Rattlesnake Hills, Wyoming, an alkalic gold system, and on four gold properties in the Carlin district of northern Nevada, two of which are 100% controlled the company.
Shares of Evolving Gold were up more than 4.8% on Thursday, trading at $0.86 as of 1:35pm EST.