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Evolving Gold Defines Extensive Zone of Gold Mineralization at Rattlesnake Hills - Re-assay Program Increases Grade by 10%
- 30-35 Hole Drill Program Scheduled for Early May
VANCOUVER, April 14 /CNW/ - Evolving Gold Corp. (TSXV: EVG.V) (FSE: EV7) has defined a zone of gold mineralization at the North Stock target approximately 450 meters long (1,480 ft), 200 meters wide (660 ft), and extending from surface to at least 550 meters deep (1,800 ft) where it remains open. It is also open to the west, east and south and may continue to the north as it wraps around the margin of the North Stock diatreme. Within this zone of gold mineralization 41.6% of all meters of core drilled by Evolving Gold fall within significant intervals of gold mineralization, defined as being at least six meters long with a grade cutoff of 0.25 gpt Au.
Similar gold mineralization has been intersected in the Antelope Basin target approximately 725 meters (2,380 ft) south of North Stock. Alteration patterns and structural features indicate potential continuity of gold mineralization between North Stock, Antelope Basin and South Stock, a further 250 meters (820 ft) to the south.
Re-Assay Program Increases Grade at Rattlesnake Hills
The metallic screen fire re-assay program has increased the average grade of re-assayed intervals of gold mineralization by 10% to 0.96 gpt (0.028 opt Au) from 0.872 gpt (0.025 opt Au). The high grade intersections previously reported are 146.3 meters at 2.92 gpt Au (480 feet at 0.085 opt Au) and 131.1 meters at 2.84 gpt Au (430 feet at 0.083 opt Au) in holes 65 meters apart. To view a complete table of assays, go to http://evolvinggold.com/images/Complete-final-assays.pdf.
"The 10% increase in grade is particularly significant because of the large zone of gold mineralization," said Quinton Hennigh, Evolving Gold's President and Chief Geologist. "Our new drill program will expand our understanding of this gold system and will better define both the high grade mineralization and the geometry and potential for a large, open pit target."
Similar Gold Projects
The cutoff of 0.25 gpt gold is similar to the current cutoff for the open pit, heap leach gold mine at Cripple Creek, Colorado which is currently being mined by AngloGold Ashanti. The 0.96 gpt Au average grade for all significant intervals of gold mineralization at Rattlesnake compares favorably with the average grades mined in other large, open pit milling operations and development projects such as the Fort Knox mine (Kinross) in Alaska, the Lake Cowal mine (Barrick) in Australia, the Cadia open pit (Newcrest) in Australia, and the Boddington development (Newmont) in Western Australia.
Rattlesnake Drilling Program
The drill program scheduled to start in early May is planned for 30-35 core holes for a total of 12,000-15,000 meters (39,000-49,000 ft) of drilling. The drill program will test extensions of the higher grade mineralization at North Stock and will also test extensions and size potential of the halo gold mineralization, particularly to the south of the North Stock into the Antelope Basin and South Stock target areas. Evolving will also test for continuity of near-surface gold mineralization between the North Stock and Antelope Basin, approximately 725 meters (2,380 ft) south of North Stock and continue to the South Stock target, a further 250 meters (820 ft) to the south.
Metallurgical Testing
Evolving Gold has initiated bottle roll cyanide leach tests on halo mineralization. This is the first step in a program of metallurgical test work at Rattlesnake. Leach tests will be followed by additional metallurgical test work on the gravity and floatation concentration characteristics the gold mineralization.
About Evolving Gold Corp.
Evolving Gold is focused on its discovery property - Rattlesnake Hills, Wyoming. Evolving has the option to acquire 100% of the Rattlesnake Hills project.
Evolving also has 8 other gold properties in New Mexico and Nevada including a lease agreement with Newmont Mining Corporation on four prospective gold properties (North Carlin District Properties) located within the prolific Carlin Gold Trend (see press release 12/5/2007).
Evolving Gold has approximately $17 million in its treasury.
For more information about Evolving Gold Corp please visit: www.evolvinggold.com.
In compliance with National Instrument 43-101, Quinton Hennigh, Ph.D., P.Geo., Chief Geologist and President of Evolving Gold Corp. is the Qualified Person responsible for the accuracy of this news release.
On Behalf of the Board of Directors
EVOLVING GOLD CORP.
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Robert W. Barker, Ph.D., P.Geo
C.E.O. and Director
FORWARD-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.
Contacts
Evolving Gold Corp.
Robert Bick
Executive Chairman
robert@evolvinggold.com
Direct: (604) 685-6375
Toll Free: 1-866-604-3864
www.EvolvingGold.com
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November 25, 2009:
Evolving Gold Corp. Closes $11.1 Million Private Placement Financing | November 16, 2009:
Evolving Gold Corp. Announces Termination of Option Agreement and Earn-In Agreement | November 03, 2009:
Evolving Gold Announces Bought Deal Private Placement Financing of $10,000,080 | May 19, 2009:
Evolving Gold Commences Rattlesnake Hills Phase 2 Drill Program | May 04, 2009:
Evolving Gold Raises $900,000 Through Warrant Exercises, Dr. William F. Lindqvist Appointed to EVG Board | April 14, 2009:
Evolving Gold Defines Extensive Zone of Gold Mineralization at Rattlesnake Hills | April 09, 2009:
Evolving Gold Provides 3D Flythrough of Rattlesnake Hills Project | April 03, 2009:
Evolving Gold Grants Incentive Stock Options | March 26, 2009:
Evolving Gold Announces Phase 2 Drill Program at Rattlesnake Hills, WY | February 12, 2009:
Evolving Gold Reports Increased Grades for Rattlesnake Hills Gold System, Wyoming | January 13, 2009:
Evolving Gold Continues to Expand the Mineralized Zone At Rattlesnake Hills, Wyoming | December 17, 2008:
Evolving Gold Expands the Size of the Gold System at Rattlesnake Hills, Wyoming | December 12, 2008:
Evolving Gold Reports Results from North Carlin Drill Program | December 02, 2008:
Evolving Gold Intersects 131.0 Meters of 2.74 Grams/Tonne at Rattlesnake Hills, Wyoming | November 05, 2008:
Evolving Gold Corp Becomes Tier 1 Issuer on the TSX Venture Exchange | September 08, 2008:
Evolving Gold Intersects 2.48 Grams/Tonne over 146 Meters at its Rattlesnake Hills Property | August 29, 2008:
Evolving Gold Corp. - Annual General Meeting September 30, 2008 | August 05, 2008:
Evolving Gold Exploration Update | June 24, 2008:
Evolving Gold Commences Phase One Drill Program on Rattlesnake Hills Gold Mineralized Diatreme Complex | June 09, 2008:
Evolving Gold Corp Appoints New CFO | May 22, 2008:
Evolving Gold Announces Rattlesnake Hills Drill Program | April 30, 2008:
Evolving Gold Corp Announces the Closing of a $1,000,000 Private Placement with Golden Predator Mines | April 15, 2008:
Evolving Gold Corp Announces $1 Million Private Placement with Golden Predator Mines | April 08, 2008:
Evolving Gold Appoints New President and Director | March 25, 2008:
Evolving Shareholders Approve Shareholder Rights Plan | March 04, 2008:
Evolving Reports on Exploration Progress in SW United States Gold Projects | February 28, 2008:
Evolving Updates Drilling Progress at its Sheep Creeks Project near the Carlin Gold District, North-Central Nevada | February 27, 2008:
Evolving Gold Corp Announces Closing of $20 Million Private Placements | February 06, 2008:
Evolving Increases Large Land Holdings Between Carlin and Getchell Gold Trends, Nevada | February 01, 2008:
Evolving Announces Drill Results from Initial Drilling at the Fisher Canyon Gold Prospect, Humboldt Range, Nevada | January 29, 2008:
Evolving Gold Adopts Shareholder Rights Plan | January 24, 2008:
Evolving Gold Announces the Spin-Out of its North Carlin Area Properties and a $10 million Private Placement | January 23, 2008:
Evolving Announces Initial Results from Drilling on its Large Property Holding Between Carlin and Getchell Gold Trends, Nevada | January 18, 2008:
Evolving Gold Signs Agreements to Acquire 100% of the Rattlesnake Hills Gold Property, Natrona County, Wyoming. | January 10, 2008:
Evolving Gold Continues Aggressive Drilling Programs on Nevada Gold Prospects | November 30, 1999:
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