Evolving Gold Expands Carlin-Humboldt
Gold System
Arch Gold Zone now 1,000
Meters by 600 Meters
November 21, 2011, Vancouver, British Columbia: Evolving Gold Corp. (TSX: EVG, OTCQX: EVOGF, FSE: EV7) (the “Company”) is pleased to announce assays from three drill holes from the Arch Gold Zone at its Carlin gold project, Nevada. Diamond drill holes CAR-011, -012 and -013 all intersected significant gold mineralization including 60.4 meters at 1.28 grams per tonne gold in CAR-013, 32.6m at 1.10 g/t gold in CAR-011 and 6.1m at 2.42 g/t gold in CAR-012. Ongoing core drilling programs continue to focus on defining a high grade core to this large gold system, as already suggested by results previously reported such as 18.3m at 11.7 g/t gold, including 1.5m at 57.9 g/t gold, and 10.1m at 11.1 g/t gold, including 3.1m at 29.8 g/t gold.
Summary of Results:
“The company recognizes it is exploring an extensive, powerful gold system in one of the world’s great gold camps. Our drilling has already intersected grades and thicknesses of mineralization that are characteristic of existing underground mines in the area. Early drilling results as a whole are consistent with the early stages of exploration at these mines. Defining the high-grade center of this large gold system is the main focus of Evolving Gold’s exploration program on the Arch project.” Comments Steven Koehler, Chief Geologist of Evolving Gold.
To see a map corresponding to the drilling results shown on the table below, turn to page 3, or click here in electronic versions.
|
Carlin Project: Summary of Drill Results from Holes CAR-011 through -013 |
|||||||
|
Hole |
From (m) |
To (m) |
Length (m) |
Gold (grams per tonne) |
|
Length (ft) |
Gold (oz per ton) |
|
CAR-011 |
1167.1 |
1199.7 |
32.6 |
1.10 |
|
107 |
0.032 |
|
includes |
1167.7 |
1186.0 |
18.3 |
1.70 |
60 |
0.050 |
|
|
|
|
||||||
|
CAR-012 |
713.2 |
719.3 |
6.1 |
2.42 |
20 |
0.071 |
|
|
includes |
717.8 |
719.3 |
1.5 |
7.57 |
5 |
0.221 |
|
|
|
737.6 |
742.6 |
5.0 |
0.41 |
16 |
0.012 |
|
|
|
774.5 |
793.4 |
18.9 |
0.15 |
62 |
0.004 |
|
|
|
1181.7 |
1232.3 |
50.6 |
0.17 |
166 |
0.005 |
|
|
|
|
||||||
|
CAR-013 |
1270.1 |
1330.5 |
60.4 |
1.28 |
198 |
0.037 |
|
|
includes |
1284.1 |
1315.8 |
31.7 |
2.03 |
104 |
0.059 |
|
|
includes |
1308.2 |
1314.3 |
6.1 |
3.75 |
20 |
0.110 |
|
|
|
1367.9 |
1404.8 |
36.9 |
0.14 |
|
121 |
0.004 |
Five kilometers south of the Arch Gold Zone, situated on the Humboldt property, the Company is presently drilling hole EHB-004, a test of one of 24 targets defined by geophysical surveys. This target is located on the northwesterly projection of the Rain-Saddle gold trend where it crosses into Evolving Gold’s ground. Hole EHB-004, presently at a depth of approximately 800 meters, is targeted to reach its final depth of 1,100 meters in early December.
All drill hole averages are weighted averages, weighting each assay interval according to the core length for that assay interval. Drill samples were collected with a diamond core drill. Sample intervals are 1.5 meters (5 feet), but in some instances sample intervals were based on geology and alteration. Half core was shipped to SGS Minerals Services in Elko, Nevada for preparation and to the SGS facility in Toronto, Ontario for analysis. Gold results were determined using standard fire assay techniques on 30-gram pulps with an ICP finish. QA/QC included the insertion of standards and blanks on a regular basis.
About Evolving Gold’s
Flagship Carlin-Humboldt Projects
Evolving
Gold’s Arch discovery is part of a large 145 sq. km (56 sq. mile) land package
the company assembled directly on the Carlin Trend between the +30M oz Gold
Quarry sub-district and the +4M oz Rain sub-district. In 2009 Evolving Gold completed its first
drill test in the region. The hole
tested a gravity embayment target and successfully intersected favorable lower
plate carbonate host rocks and confirmed vertically-extensive Carlin-style
alteration, and mineralization. Since that
first hole, eight additional core holes have been completed. Select drill results from depths of 750 to
1260 m include: 18.3 m of 11.7 g/t Au, 10.1 m of 11.1 g/t Au, and 14.7 m of 8.8
g/t Au. Drilling also confirms the
presence of sulfidized dikes and fluidized multi-lithic breccias. The Carlin and Humboldt Projects are crossed
by an interstate highway and within eyesight of Gold Quarry processing
facilities, including the largest gold ore roaster in the world.
About The Carlin Humboldt
Project Cont.
The
drilling process includes reverse circulation (RC) drilling above the favorable
rocks, core drilling through the favorable rocks, and often multiple wedge
holes from the mother hole. A mud motor
has recently been purchased to increase the separation of wedge holes from mother
holes.
Arch Gold Zone. 1000m Long and 600m Wide – Open In All Directions
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Jake Creek
The
Company is currently drilling at its Jake Creek project 6 kilometers east of Newmont’s Twin Creeks
Mine. Assays have returned for the first
three holes of the drill program. Hole
JC-002 intersected 39.6m at 0.873 g/t Au beginning at 256.1m and hole JC-006
intersected 19.8m at 0.676 g/t Au
beginning at 221.0m. These holes
are part of a fence of angle holes being drilled across an area encompassing
the discovery of covered mineralization made by the Company last year (28.9m at 1.33 g/t Au announced Nov. 18,
2010).
A total of 20 RC drill holes have been permitted. To date, three holes have been completed and two additional holes failed to reach their targeted depth. Due to technical limitations of the reverse circulation drill that was being employed at Jake Creek, the Company suspended its drill program in mid-October until a suitable replacement drill could be secured. The replacement rig has resumed drilling at Jake Creek.
|
Jake Creek Project: Summary of Drill Results |
||||||||
|
Hole |
From (m) |
To (m) |
Length (m) |
Gold (grams per tonne) |
|
Length (ft) |
Gold (oz per ton) |
|
|
JC-002 |
256.1 |
295.7 |
39.6 |
0.873 |
130 |
0.025 |
||
|
JC-003 |
309.4 |
310.9 |
1.5 |
0.393 |
5 |
0.012 |
||
|
JC-004 |
Hole abandoned prior to testing target |
|||||||
|
JC-006 |
221.0 |
240.8 |
19.8 |
0.676 |
65 |
0.020 |
||
|
|
271.3 |
274.3 |
3.0 |
0.620 |
10 |
0.018 |
||
|
JC-007 |
Hole abandoned prior to testing target |
|||||||
In compliance with National Instrument 43-101, the Company Chief Geologist, Steven R. Koehler, BSc Geology and CPG, is the Qualified Person responsible for the accuracy of this news release.
About Evolving Gold Corp.
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. For more information about Evolving Gold please visit: www.evolvinggold.com.
On Behalf of the Board of Directors
EVOLVING GOLD CORP.
“William Gee”
William Gee
CEO and Director
FOR MORE INFORMATION, PLEASE CONTACT:
Investor Relations:
Rory Quinn
Tel: 604.630.0792
TF: 866.604.3864
rory@evolvinggold.com
FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company’s actual results and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company’s control. These factors include: results of exploration activities and development of mineral properties, fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing, currency fluctuations, general market and industry conditions and other risks disclosed in the Company’s filings with Canadian Securities Regulators.
Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. We seek safe harbour.