Evergold Drills a New Sulphide Vein System at the DEM Au-Cu-Ag Prospect, Central B.C., Assays Pending

TORONTO, Nov. 21, 2023 (GLOBE NEWSWIRE) -- Evergold Corp. (TSX-V: EVER, WKN: A2PTHZ) (“Evergold” or the “Company”) is pleased to report that first-ever drilling at the Company’s road-accessible DEM prospect, located in central B.C., has concluded on time, under budget and on target for a total of 947 metres drilled in three holes from two pads located 350 metres apart. Two holes (DEM23-01 & 02) were drilled due east from the first pad, and a single hole (DEM23-03) was drilled due west from the second (see Figure 1 plan and Figure 2 section views). Each of the three holes intercepted variably calcareous fine-grained sedimentary rocks cut locally by metre-scale porphyritic dykes, with the host rocks, and locally the dykes, strongly infused over core lengths of up to 20 metres by cross-cutting sulphide-bearing veinlets and veins, locally of semi-massive to massive character, along with associated disseminated sulphides. These intervals are also encompassed by broader halos of lower-intensity disseminated and sulphide-bearing veinlets and veins. Sulphide minerals observed in core include abundant disseminated and vein-hosted arsenopyrite, pyrite, and pyrrhotite, with lesser but significant sphalerite, galena, chalcopyrite, and molybdenite. Sulphosalts are also commonly observed. Core cutting and sampling is underway, with assaying to follow. Laboratory results are anticipated for early in the new year.

“Caution is in order until we receive assay results,” said Kevin Keough, President & CEO. “That said, we are very happy with what we’ve seen in core from this very limited first-ever drill program on a new grassroots prospect. Recall that our target at DEM was a buried porphyry intrusion and associated vein systems, the latter of which we clearly have drilled in all three holes, and starting at surface in the first two. The array of sulphide minerals present, particularly the abundant arsenopyrite, and the broad system intercepts in all three holes from two widely separated pads, suggests a potentially large, well-endowed system. Moreover, the results have demonstrated that the geochemical and geophysical anomalies can be relied upon for targeting the drilling. We therefore anticipate that, should laboratory assay results come back strong, we will be able to systematically build upon this program with follow-up efforts next year.”