Evolving Gold Expands the Epithermal Gold System at the Jake Creek Project, Nevada

February 24, 2012, Vancouver, British Columbia: Evolving Gold Corp. (TSX: EVG, OTCQX: EVOGF, FSE: EV7) (the "Company") is pleased to announce that the 2011 drill program at its 100% owned Jake Creek gold property in Nevada expanded the size of the gold system. Intersections included 39.6m of 0.873 g/t Au, and 19.8m of 0.676 g/t Au, including 1.5m of 3.1 g/t Au.

Summary of Results:

The 2011 Jake Creek reverse-circulation (RC) drilling program included 3,580.8 meters of drilling in eleven holes. The eleven holes stepped outward to the west and east from drill hole JC-005, a 2010 drill hole that intersected 28.9m of 1.33 g/t gold and included a 1.5m interval of 11.3 g/t gold from 236.2 -- 237.7 meters (release November 18, 2010). Results of the eleven-hole program are as follows:

 

  • Drill-hole intersections include: 39.6m of 0.873 g/t gold in JC-002, 19.8m of 0.676 g/t gold in JC-006, 1.5m of 3.1 g/t gold within 16.7m of 0.605 g/t gold in JC-013.
  • Drilling successfully outlined an epithermal, volcanic-hosted gold system containing sub-horizontal and laterally extensive low-grade gold mineralization. Gold mineralization includes locally banded epithermal veins and gold in quartz-stockwork zones up to 11.3 g/t.
  • Drilling indicates that the gold system exceeds 550 meters wide east-west and remains open to the north, south and east.
  • JC-013, the most easterly drill hole, confirmed the presence of multiple zones of epithermal veins with banded quartz and sooty pyrite, as well as sulfidized basalt dikes.
  • Gold mineralization is hosted in bleached, clay altered and silicified tuff above Paleozoic siliciclastic rocks. Gold-bearing zones contain elevated concentrations of arsenic, selenium, antimony, mercury and silver, typical of other well-documented epithermal, volcanic-hosted gold systems.

"We are excited to have identified another large, blind gold system in Nevada, between the large Twin Creeks and Getchell deposits to the west, and the Midas district to the east," says Steve Koehler, Chief Geologist for the Company. "We have just begun to explore this exciting system. The strong alteration, multiple zones of epithermal, banded quartz and sooty pyrite veins, along with extensive gold mineralization is all very encouraging in a system which remains wide open for expansion. We believe the Jake Creek gold target has great potential and look forward to further drilling on this project."

 

 

 

Jake Creek 2011 Drill Hole Results

 

 

 

Drill Hole

TD (ft)

Az / Inc

Interval (m)

Grade g/t Au

Depth (m)

Interval (ft)

Grade oz/t Au

Depth (ft)

JC-002*

1020

270/-60

39.6

0.873

256.1-295.7

120

0.027

850-970

JC-003*

1300

033/-60

1.5

0.393

309.4-310.9

5

0.011

1015-1020

JC-004

765

090/-60

4.6

0.319

227.1-231.7

15

0.009

745-760

JC-006*

1030

090/-60

19.8

0.676

221.0-240.8

65

0.020

725-790

 

 

 

3.1

0.620

271.3-274.4

10

0.018

890-900

JC-007

800

090/-60

3.1

0.351

207.2-210.3

10

0.010

680-690

JC-008

1100

090/-60

12.2

0.412

250.0-262.2

40

0.012

820-860

 

 

 

12.2

0.930

268.2-280.4

40

0.027

880-920

JC-009

1230

059/-65

1.5

0.373

185.9-187.4

5

0.011

610-615

JC-010

1200

100/-45

3.1

0.412

283.5-286.6

10

0.012

930-940

JC-011

880

095/-50

1.5

0.618

160.0-161.5

5

0.018

525-530

 

 

 

7.6

0.550

181.4-189.0

25

0.016

595-620

JC-012

1040

065/-65

6.1

0.344

161.6-167.7

20

0.010

530-550

 

 

 

6.1

0.371

172.3-178.4

20

0.011

565-585

JC-013

1380

090/-60

16.7

0.605

321.6-338.3

55

0.018

1055-1110

Includes

 

 

1.5

3.10

323.1-324.6

5

0.090

1060-1065

 

 

 

1.5

0.351

 

5

0.010

1130-1135


*Holes released November 21, 2011. Primary drill composites were calculated using a 0.300 g/t gold cutoff, with variable higher cutoffs for the sub-intervals. True thicknesses at this stage of exploration are not precisely known.

Evolving Gold's 2012 exploration plans include airborne geophysics, geologic mapping, geochemical sampling, and additional reverse circulation (RC) drilling.

 

 

 

Map


Drill samples are 1.5 meters and were collected with a reverse-circulation drill. Samples were shipped to SGS Minerals Services in Elko, Nevada for preparation and to SGS' lab 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, blanks and field duplicates on a regular basis.

In compliance with National Instrument 43-101, 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.

"R. Bruce Duncan"

R. Bruce Duncan
Director and CEO

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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