Evolving Gold: Drilling Intersects High Grade Gold In New Gold Target at Rattlesnake Hills, Wyoming

January 23, 2012, Vancouver, British Columbia: Evolving Gold Corp. (TSX: EVG, OTCQX: EVOGF, FSE: EV7) (the "Company") is pleased to provide an update of the 2011 drilling at its Rattlesnake Hills gold property in Wyoming, a joint venture with Agnico-Eagle (USA) Limited (Agnico-Eagle). Core drilling during 2011 has identified high grade gold mineralization at a new target at South Stock, identified a new porphyry target at Northeast Stock, expanded the North Stock mineralization, and confirmed the porphyry target between North Stock and Antelope Basin. Agnico-Eagle is the manager of the Rattlesnake Hills joint venture and is funding 100 percent of the exploration program.

Summary of Results:

The 2011 exploration program at Rattlesnake Hills included a total of 8,193m (880 ft) of core drilling in 24 holes. The results of the final 13 holes of the program are reported here.

 

  • South Stock Target: Exploration drilling has intersected high-grade gold mineralization at the new "South Stock" gold target in drill hole RSC-180, 3.1m of 9.30g/t Au. This new gold zone is located 500m south of the Antelope Basin Gold Zone and is hosted by stockwork adularia-dolomite-sulfide veinlets. Soil and rock chip geochemistry shows gold anomalies over an area larger than at the North Stock Gold Zone.
  • North Stock Gold Zone: Drilling at the North Stock Gold Zone has enlarged and confirmed lateral continuity of grade across the known deposit. Drill holes intersections include 102.1m of 0.69g/t Au in RSC-170, 62.5m of 1.84g/t Au in RSC-171 and 42.7m of 1.13g/t Au in RSC-175.
  • North East Stock Target: The first exploration drill tests of the new North East Stock Target (RSC-172,-173,-174) intersected intensely altered porphyry stocks that do not outcrop, demonstrating potential for large, hidden, gold-mineralized porphyry bodies.
  • Porphyry Target: Drill hole RSC-168, in the Porphyry Target Zone, immediately south east of North Stock, hosts multiple low to moderate grade gold intercepts in diorite and porphyry intrusions, associated with stockwork veinlet and intense potassic alteration.

"The 2011 exploration drilling program has continued to intersect new gold zones and expand on the known gold mineralization at the Rattlesnake Hills Project. We are particularly excited to demonstrate high grade gold at South Stock, a new gold zone drilled for the first time in 2011", comments William Gee, CEO of Evolving Gold. "Surface work shows that South Stock represents a large new zone of essentially untested anomalous gold mineralization, close to the center of this large gold system. South Stock, Northeast Stock, and several additional new drill targets generated by extensive surface sampling in 2011 will be a focus of our 2012 exploration program."

 

 

 

Rattlesnake Hills Project Gold Assays

 

 

 

Hole

From (meters)

To

(meters)

Interval (meters)

Gold

grams/tonne

 

Interval (ft)

Gold

oz/ton

RSC-168

259.0

266.7

7.6

2.50

 

24.9

0.073

 

387.1

406.9

19.8

0.63

 

64.9

0.018

 

605.0

615.7

10.7

0.41

 

35.0

0.012

RSC-169

198.1

254.5

56.4

0.27

 

185.0

0.008

RSC-170

126.5

228.6

102.1

0.69

 

334.9

0.019

including

164.6

170.7

6.1

1.06

 

20.0

0.030

including

187.4

192.0

4.6

1.47

 

15.1

0.043

including

202.7

225.6

22.9

1.09

 

75.1

0.032

RSC-171

166.1

228.6

62.5

1.84

 

205.0

0.054

including

187.4

227.0

39.6

2.63

 

129.9

0.077

including 

195.1 

208.8

13.7 

6.08 

 

44.9 

0.177 

RSC-172

246.8

251.4

4.6

0.24 

 

15.1 

0.007 

RSC-173

None

 

 

 

 

 

 

RSC-174 

None

 

 

 

 

 

 

RSC-175 

128.0

170.7

42.7

1.13

 

140.1

0.033

including

161.5

163.1

1.6

21.50

 

5.2

0.625

RSC-176

284.9

294.1

9.2

0.99

 

30.2

0.029

RSC-177

170.7

175.3

4.6

0.32

 

15.1

0.009

RSC-178

None

 

 

 

 

 

 

RSC-179

202.7

204.2

1.5

0.61

 

4.9

0.017

RSC-180

199.6

202.7

3.1

9.30

 

10.2

0.272

 

 

*0.24g/t Au cut-off grade is used for reporting purposes

 


All drill hole averages are weighted averages, weighting each assay interval according to the core length for that assay interval. All assay intervals are included in the average, with no bottom cut-off. True widths of mineralization in these drill holes, at this stage of exploration, are not precisely known.

Drill samples were collected with a diamond core drill. Sample intervals are 1.5 m (5 feet), but in some instances sample intervals were based on geology and alteration. Half core was shipped to American Assay Laboratories in Elko, Nevada for preparation and to American's facility in Sparks, Nevada for analysis. Gold assays were determined using standard fire assay techniques on 30-gram pulps with an atomic absorption finish. Agnico-Eagle QA/QC included the insertion of standards and blanks on a regular basis. Check assays were performed by SGS Minerals Services in Toronto, Ontario.

About The Rattlesnake Hills Project
Evolving Gold joint ventured its Rattlesnake Hills gold discovery with Agnico-Eagle on June 27, 2011. Approximately 80,000m of core drilling in 180 holes has been completed on the property in 4 seasons of drilling. Agnico-Eagle has the right to earn up to 70% ownership in the project by spending $76 million on a combination of cash payments to Evolving Gold, purchases of Evolving Gold treasury shares, and project work commitments, including the obligation to advance the project through feasibility. In addition to funding the exploration at Rattlesnake Hills, Agnico-Eagle brings mining expertise and capital to the project, allowing Evolving gold to focus on its extensive portfolio of gold properties in Carlin, Nevada.

 

 

 

 

Map

 


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. 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.

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

 

 

 

 

 

 

 

FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).
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