January 14, 2009, Vancouver, British Columbia: Evolving Gold Corp. (TSXV: EVG) (FSE: EV7) (the "Company") is pleased to announce additional assay results from seventeen drill holes from the Rattlesnake Hills, WY project.
North Stock Target
Drill results for the North Stock target continue to define a main zone of gold mineralization along the southern boundary of the diatreme with long intersections of continuous gold mineralization which contain intervals with grades in excess of 5.0 gpt Au, consistent with results previously reported for this target.
- DDH RSC-070 -- 115.8 meters at 1.35 gpt Au (380 ft at 0.039 opt), including 30.5 meters at 2.65 gpt Au (100 ft at 0.077 opt), which also includes 9.1 meters at 6.42 gpt Au (30 ft at 0.187 opt).
- DDH RSC-056 -- 117.4 meters at 1.20 gpt Au (385 ft at 0.035 opt), including 64.0 meters at 1.71 gpt Au (210 ft at 0.050 opt), which also includes 9.1 meters at 4.25 gpt Au (30 ft at 0.124 opt).
- DDH RSC-053 -- 53.4 meters at 1.42 gpt Au (175 ft at 0.041 opt), including 27.4 meters at 2.41 gpt Au (90 ft at 0.070 opt). RSC-053 also intersected mineralized porphyry at depth (205.8 meters, 675.2 ft) south of the diatreme, which returned 9.1 meters at 6.42 gpt Au (30 ft at 0.187 opt).
- DDH RSC-056 and RSC-070 demonstrate extension of higher gold grades at North Stock to depths of at least 250 meters (820 feet).
Dr. Quinton Hennigh, President and Chief Geologist, comments, "The long intervals of gold mineralization reported in this release for the North Stock target continue to demonstrate the size of the gold system at Rattlesnake Hills. The mineralized zone at North Stock remains open to the east and west, and drilling now demonstrates that the higher grades continue to a depth of at least 250 meters. Drill-out of the North Stock target will continue to be a major objective for our drilling program in 2010."
True widths of mineralization in these drill holes at this stage of exploration are not precisely known. More detailed modeling of the mineralization will be an important part of the technical report to be completed in the second quarter of 2010. Gold assays were completed by SGS Canada Inc. in Toronto, using a 30 gram charge, fire assay, with an ICP finish. For over limit assay results, initial assays in excess of 10.0 gpt Au, a gravimetric finish is utilized. The Company will undertake a program of metallic screen fire assays once all preliminary assays are received with a focus on the higher grade intervals.
For maps, locations of drill holes, and preliminary sections, please refer to the Company's website: Drill_Holes_Jan_13_2010.pdf
Halo Gold Mineralization, North Stock Target
Drill holes RSC-054, 055, 057, 059, 060, 064, and 068 were all drilled in the zone of halo gold mineralization around the main or central North Stock target as reported above. All of these drill holes intersected long intervals of gold mineralization with grades of 0.3 to greater than 1.0 gpt Au. These intersections are typical of the mineralized halo around the higher grade core mineralization at North Stock. This halo gold mineralization is being investigated as a possible bulk tonnage gold deposit.
Gold Porphyry Target
Seven drill holes, RSC 061, 062, 063, 065, 066, 067, and 069 tested areas east and south of North Stock. All except 062 intersected long intervals, up to 177 meters, of anomalous stockwork gold mineralization at depth. The broad zones of 0.X gpt Au in these drill holes are interpreted as being the mineralized halo above a gold bearing porphyry system. Gold mineralized dikes were first identified in RSC-027 (see September 14, 2009 news release), which demonstrated the presence of mineralized porphyry bodies with encouraging gold grades (15.2 meters at 3.11 gpt Au). Drill holes RSC-052 and 058 drilled northeast of Antelope Basin also intersect long intervals of similar stockwork gold mineralization.
"The stockwork gold mineralization encountered in these drill holes supports our interpretation of a strong poprhyry system at depth at Rattlesnake Hills." says Quinton Hennigh, "The widespread nature of the stockwork mineralization is encouraging, suggesting a large size potential for the porphyry system. We interpret this porphyry target as the potential driver of all the mineralization at Rattlesnake Hills, and better definition of the scale, potential, and depth of the porphyry target will be a significant objective of our exploration program in 2010."
General Update for Rattlesnake Hills
The Company completed approximately 29,700 meters (500 ft) of diamond drilling in 78 holes during the 2009 drill program. Assays from 23 drill holes are still pending from the assay laboratory, four of which intersect the main North Stock target. The Company expects to report on the remaining assays from the Rattlesnake Hills 2009 drill program by mid February.
The Company plans to complete an updated NI 43-101 report in the second quarter of 2010 to better define the geometry and extent of the gold mineralization, to evaluate the metallurgical behavior of the gold mineralization, and to refine the exploration and drill-out program for 2010.
Plans are underway to restart drilling with three to four core rigs by May 2010, depending on weather conditions.
Other Exploration Properties
A modest drill program was completed in 2009 at the Malone property in New Mexico. More significant results include 29.0 meters at 0.51 gpt Au and 25.5 gpt Ag (95 ft at 0.015 opt Au and 0.74 opt Ag) in hole MAL-09-003 and 15.3 meters at 0.79 gpt Au and 81.4 gpt Ag (50 ft at 0.023 opt Au and 2.38 opt Ag) in MAL-09-001. Results are encouraging and suggest a near-surface zone of gold-silver mineralization.
A second small drill program was completed in 2009 at the Excelsior Springs property in Nevada. The most significant result from that program was 48.8 meters at 1.37 gpt Au (160 ft at 0.040 opt) in hole EX-030. The results of the drilling at Excelsior Springs also suggest potential to develop a near surface zone of gold mineralization.
Because of their greater size potential, the Company is focusing its attention on the Rattlesnake Hills and Carlin projects and is evaluating a full range of exploration options for both the Malone and Excelsior Springs properties.
About Evolving Gold Corp.
Evolving Gold is focused on exploring its significant discovery at Rattlesnake Hills, Wyoming, an alkalic gold system, similar to the Cripple Creek gold district in Colorado and on five gold properties in and adjacent to the productive Carlin district of northern Nevada. Evolving Gold has the option to acquire 100% of the Rattlesnake Hills project.
The Company has a lease agreement with subsidiaries of Newmont Mining Corporation on four prospective gold properties (North Carlin District Properties).
For more information about Evolving Gold please visit: www.evolvinggold.com. To receive regular updates or to receive a follow-up call from Investor Relations please sign up at: http://www.evolvinggold.com/.
In compliance with National Instrument 43-101, Quinton Hennigh, Ph.D., P.Geo., is the Qualified Person responsible for the accuracy of this news release.
On Behalf of the Board of Directors
EVOLVING GOLD CORP.
CEO and Director
FOR MORE INFORMATION, PLEASE CONTACT:
Evolving Gold Corp.
Robert Bick, Executive Chairman
Direct: 604 685 6375
Toll Free: 1-866-604-3864
Senergy Communications Inc.
Tel: 778 331-2095
Investors can post questions and receive answers at the Evolving Gold Corp IR Hub at http://www.agoracom.com/IR/evolving