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VANCOUVER, Jan. 23 /CNW/ - Evolving Gold Corp. (TSX-V:EVG) (OTCBB: EVOGF)
(FSE:EV7) (the "Company") is pleased to announce preliminary geological and
geochemical results from their first drill hole which was partially completed
on their group of properties northwest of the Carlin gold trend (the "North
Carlin properties") in north-central Nevada. Currently, Evolving is focusing
their exploration on an area approximately 20 kilometers NW of the Goldstrike
gold deposit, mid-way between the Carlin and Getchell gold trends. Evolving
controls approximately 48,000 acres of exploration ground in the region, and
is exploring a broad area which has not been tested by previous exploration
Part of Evolving's exploration landholdings in the area combine claims
held by both the Company and Newmont Gold Corporation, under an agreement
concerning an exploration partnership on four prospective gold properties,
including three which are located within the prolific Carlin Gold Trend (see
press release dated December 5, 2007).
The first hole, which is vertically inclined, reached a depth of 1480
feet (463 meters) before being abandoned due to technical reasons. A twin
hole, being drilled with a diamond drill, has been collared nearby the
terminated reverse circulation hole, and is planned to reach a target depth of
approximately 560 to 650 meters. The core hole is currently at approximately
370 meters depth.
Both holes penetrated approximately 350 meters of Miocene-age, unaltered
volcanic rocks. At approximately 350 meters depth they entered what is
interpreted to be Paleozoic sedimentary rocks which are strongly,
hydrothermally altered. Intense pyritization occurs in the form of
semi-massive replacements; associated with strong silicification as the matrix
of hydrothermal breccias, and as stockwork veining. Silicification and clay
alteration are present to the bottom of the reverse circulation hole (463
meters) and is accompanied by geochemically anomalous gold, as well as
pathfinder elements commonly associated with Carlin-style mineralization.
The bottom 235 meters of the hole averages 0.23 grams per ton (gpt) gold,
with individual 5 foot (1.6 meters) intervals ranging up to 1.56 gpt gold. The
core hole is expected to provide a much more accurate sample for actual
geochemical content, since the pyrite was largely lost in the cuttings of the
reverse circulation hole.
The Company's geological target is situated approximately 200 meters
deeper than the bottom depth (463 meters) of the reverse circulation hole.
Evolving is carrying out an aggressive program of exploration in the
region, targeting Carlin-style mineralization.
About Evolving Gold Corp.
Evolving Gold Corp. is an emerging gold exploration and development
company focused on building value through the acquisition and exploration of
world class prospective gold prospects in the southwestern United States. The
Company is actively exploring 9 separate gold properties, primarily in known,
producing gold trends in the state of Nevada. The Company has recently
completed first rounds of drilling at the Malone (NM) and Fisher Canyon (NV)
gold prospects (assays pending) and is currently drilling at their large Sheep
Creeks (Carlin District) and Siesta (Sleeper District) gold prospects which
Evolving has acquired by staking in north-central Nevada. Evolving recently
announced the signing of a definitive agreement to acquire 100% of the
Rattlesnake gold prospect located in Wyoming (see press release dated
January 18, 2008).
Evolving has entered into an agreement with Newmont Mining Corporation
concerning an exploration partnership on four prospective gold properties
located within the prolific Carlin Gold Trend (see press release dated
December 5, 2007). In total, Evolving holds over 90,000 acres of exploration
lands in Nevada, Wyoming and New Mexico.
In compliance with National Instrument 43-101 ("NI 43-101") Lawrence A.
Dick, Ph.D., P.Geo. is the Qualified Person responsible for the accuracy of
this news release.
For more information visit www.evolvinggold.com.
On Behalf of the Board of Directors
EVOLVING GOLD CORP.
Lawrence A. Dick, Ph.D., P.Geo.
President and Director
FORWARD LOOKING STATEMENTS: This document includes forward-looking
statements as well as historical information. Forward-looking statements
include, but are not limited to the continued advancement of Evolving's
general business development, research development and/or Evolving's
development of mineral exploration projects. When used in this document, the
words "anticipate", "believe", "estimate", "expect", "intent", "may",
"project", "plan", "should" and similar expressions are intended to be among
the statements that identify forward-looking statements. Although Evolving
Gold Corp. believes that their expectations reflected in these forward looking
statements are reasonable, such statements involve risks and uncertainties and
no assurance can be given that actual results will be consistent with these
forward-looking statement. Important factors that could cause actual results
to differ from these forward-looking statements include the potential that
Evolving's mineral deposit(s), fluctuations in the marketplace for the sale of
minerals, the inability to implement corporate strategies, the ability to
obtain financing and other risks disclosed in our annual report on Form 20F
filed with the U.S. Securities and Exchange Commission and filings made with
the British Columbia Securities Commission.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Evolving Gold Corp.: Robert Bick, CEO,
firstname.lastname@example.org, Direct: (604) 685-6375, Toll Free: 1-866-604-3864,
www.evolvinggold.com OR Renmark Financial Communications Inc, Christopher
Wells, email@example.com; James Buchanan,
firstname.lastname@example.org, Tel.: (514) 939-3989, Fax: (514) 939-3717,
www.renmarkfinancial.com OR Excelsior Communications Inc., Miranda Bradley,
Managing Partner, email@example.com, Direct: (416) 860-2509,