Evolving Gold Defines Extensive Zone of Gold Mineralization at Rattlesnake Hills
posted on Apr 14, 2009 05:30AM
Evolving Gold is focused on exploring its significant discovery at Rattlesnake Hills, Wyoming, an alkalic gold system, similar to the Cripple Creek gold district in Colorado, and on gold properties adjacent to the Carlin district of Nevada.
- Re-assay Program Increases Grade by 10%
- 30-35 Hole Drill Program Scheduled for Early May
VANCOUVER, April 14 - Evolving Gold Corp. (TSXV: EVG) (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 tohttp://evolvinggold.com/images/Compl... .
"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) inAustralia, 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.
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.
Robert W. Barker, Ph.D., P.Geo
C.E.O. and Director
Investors can post questions and receive answers or review questions and answers posted by other investors at the Evolving Gold Corp. IR Hub athttp://www.agoracom.com/IR/evolving. Investors can also e-mail [email protected] with questions and correspondence or request to be added to the investor email list to receive all future press releases and updates in real time.
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) acceptsresponsibility for the adequacy
or accuracy of this release.
For further information: Evolving Gold Corp., Robert Bick, Executive Chairman, [email protected], Direct: (604) 685-6375, Toll Free: 1-866-604-3864, www.EvolvingGold.com