Evergold Receives Drill Permit for Rockland Gold-Silver Project, Walker Lane Trend, Nevada - Seite 2

About the Rockland Property

Gold and silver mineralization exposed at the Rockland project is related to a low-sulphidation epithermal vein system that formed approximately 6 to 8 million years ago at the western margin of the Great Basin. Mineralization is spatially and genetically associated with Late Miocene-age rhyolite intrusive activity and occurs in intensely altered rhyolites, associated sedimentary and tuffaceous rocks, and pre-Tertiary granodiorite. The best gold grades are associated with quartz veins and rhyolite feeder dikes that cut the basement granodiorite and the overlying younger rocks. Alteration and mineralization is primarily controlled by NNE- to NE-trending structures, which are common orientations of the high-grade veins at the nearby Aurora and Borealis gold-silver mines.

Rockland East Target Area

The Rockland East project area consists of a large NE-trending zone of strong quartz-illite-pyrite+/-kaolinite alteration hosted within and adjacent to a series of five or more coalesced rhyolite domes. The strongly altered zone is over 900 metres wide and up to 1500 metres long and contains numerous banded crustiform to chalcedonic quartz veins and vein breccias, as well as other silicified and/or sulfidized structures. Alteration and mineralization is associated with strongly anomalous pathfinder elements typical of the upper portion of a well-mineralized epithermal system (e.g. As up to 3370 ppm; Sb up to 610 ppm; Hg up to 350 ppm).

Limited historical drilling indicates a large, low-grade epithermal-style gold zone at Rockland East, with higher-grades interspersed within the zone, at moderate depth, and only sparsely drilled by historical operators along some 800 metres of strike, where it remains open along strike and at depth. The geometry of this zone is still poorly understood. Map relations in this generally poorly-exposed area, coupled with abundant associated pathfinder elements (particularly As, Sb and Hg) characteristic of the upper levels of low sulphidation epithermal vein systems found at Nevada mines such as Sleeper, Hollister and Midas, and El Peñón in Chile (all +1.5 Moz deposits), and at the southern Walker Lane systems mentioned above, indicate that the Rockland East target area is down-dropped relative to the historic Rockland Mine area on the west side of the property. This suggests that the entire epithermal system could be preserved under thin cover.