Includes 50.3 Meters at 5.87 gpt Gold
VANCOUVER, Dec. 1 /CNW/ - Evolving Gold Corp. (TSXV: EVG) (FSE: EV7) (the "Company") is pleased to announce additional assay results from the 2010 core drilling program at its Rattlesnake Hills project in central Wyoming. Drill hole RSC-135, part of an infill drilling program at the North Stock gold zone, intersected 405.4 meters at 1.31 gpt Au, including 50.3 meters at 5.87 gpt Au, and 7.6 meters at 21.82 gpt Au.
Summary of Results:
- Drill hole RSC-135 intersected 405.4 meters at 1.31 gpt Au (1,330 ft at 0.038 opt Au), including 50.3 meters at 5.87 gpt Au (165 ft at 0.171 opt Au) and also including 7.6 meters at 21.82 gpt Au (25 ft at 0.637 opt Au).
- Drill hole RSC-132 intersected 334.7 meters at 1.12 gpt Au (1,098 ft at 0.033 opt Au), including 93.0 meters at 2.68 gpt Au (305 ft at 0.078 opt Au) and also including 18.3 meters at 5.17 gpt Au (60 ft at 0.151 opt Au).
Near vertical drill holes, RSC-132 and RSC-135 were drilled from a location near the top of North Stock Hill, and were drilled to the south to test the vertical continuity and extent of the central portion of the North Stock gold zone. Both holes intersected continuous gold mineralization beginning at shallow depths and extending to vertical depths in excess of 300 meters. Oxidation in these drill holes persists from the surface to vertical depths of approximately 150 meters and extends deeper along mineralized structures.
"Drill holes RSC-132 and RSC-135 both collared on a new drill pad constructed near the top of North Stock Hill, near the center of the diatreme breccia," comments Quinton Hennigh, President and Chief Geologist for Evolving Gold Corp. "Both holes demonstrate continuity of mineralization to depths of over 300 meters, and it is particularly encouraging to see mineralization starting within a few meters of the surface. We are also particularly pleased to see the depth of oxidation in these drill holes, which persists to depths that include the very high grade interval in drill hole RSC-135."
Infill drilling at North Stock and at Antelope Basin in 2010 was designed to improve delineation of the high grade gold mineralization within the larger volume of more modest grade gold values. The results of this drilling at North Stock have started to define a network of anastomozing, northeast-trending, steeply dipping high grade structures within the core of the North Stock gold zone. To date, drilling indicates a total strike length of this high grade zone of gold veins of approximately 300 meters. The most shallow intersection of the high grade zone is at about 79 meters, and the deepest is at nearly 400 meters below surface. All of the high grade veins appear to be within a corridor approximately 70 meters wide that forms the high grade core to the North Stock gold zone.
"Until recently our drilling was too widely spaced to adequately evaluate the higher grade gold mineralization at North Stock," states Quinton Hennigh. "With the completion of our 2010 drilling program, we now have intersections across most of the North Stock gold zone at 50 meter spacing. As a result, we are starting to see that some of the high grade intersections in the early drill holes appear to tie together with the more recent intersections. We therefore believe that we will be able to do a much better job of modeling these high grade structures once we have all the assay results from our 2010 program."
The Company completed a total of 63 core holes in 2010, for a total of approximately 25,600 meters (84,000 ft) of drilling. Assays are still pending for 21 drill holes. Of the remaining holes, fourteen are infill and step-out drill holes at North Stock, and five are infill and step-out drill holes at Antelope Basin. One hole tested a new mineralized zone between North Stock and Antelope Basin, which was discovered earlier in 2010, and one hole tested the deep porphyry target.
Mineralized Intervals, North Stock Zone
|Drill Hole|| From
Drill holes RSC-133 and RSC-134 targeted deeper portions of the west end of the North Stock gold zone. RSC-133 was drilled in a northerly direction from south of the southern contact of the diatreme. RSC-134 was drilled in a southwesterly direction across the core of the diatreme from the north side of North Stock Hill.
Summary of High Grade Intervals, North Stock Gold Zone:
The following table provides a summary of higher grade gold intersections from the Company's drilling programs in 2008, 2009, and those identified to date in the 2010 drilling program.
Summary of High Grade Intervals, North Stock Zone
|Drill Hole|| From
(*) Denotes previously reported intersections.
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. Gold assays were completed by SGS Canada Inc. in Toronto, using a 30 gram charge, fire assay, with an ICP finish.
About Evolving Gold Corp.
Evolving Gold is focused on exploring its significant gold discovery at Rattlesnake Hills, Wyoming, an alkalic gold system, similar to the Cripple Creek gold district in Colorado, and on four gold properties in and adjacent to the productive Carlin district of northern Nevada, two of which are 100% controlled by Evolving Gold. 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.
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On Behalf of the Board of Directors
EVOLVING GOLD CORP.
CEO and Director
iFORWARD 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. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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