Evolving Gold Plans TDEM Aerial Survey on Toro Property Following Discovery of Gold Anomalies in Glacial Float and Outcrop
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Evolving Gold Corp. /
Evolving Gold Plans TDEM Aerial Survey on Toro Property Following Discovery of
Gold Anomalies in Glacial Float and Outcrop
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The issuer is solely responsible for the content of this announcement.
VANCOUVER, British Columbia, Oct. 05, 2017 (GLOBE NEWSWIRE) -- Evolving Gold
Corp. (CSE:EVG) (FSE:EV7) (OTCB:EVOGF) (the "Company") is pleased to announce it
has received the first 28 sample assay results that were rush processed at the
laboratory. These samples were collected in the first days of a field survey
conducted between September 6th and the 15th, 2017. The Company is pleased to
report that 4 of the samples contained anomalous gold, at up to 38 ppb ("parts
per billion") Au. A grab sample from a block of glacial float at the Pistol
target contained 38 ppb Au in a sulphide rich quartz vein. The three other
anomalous gold results (12, 17 and 29 ppb) were associated with copper (0.189%,
0.030% and 0.112% respectively) and were collected on the Toro 23 and 24
targets. The latter three mineralized samples were found in three distinct
mineralization styles: as disseminated sulphides within a basalt unit, as semi-
massive sulphide mineralization in basalt, and at the contact between a basalt
and a paragneiss unit. The anomalous gold results reported here do not
adequately explain the highly anomalous gold in till samples previously reported
from samples collected down-ice from targets Toro 23 and 24.
These 28 early results from among a total of 180 samples collected on the Pistol
(9 samples) and Toro 23/24 targets (171 samples) provide the first evidence for
multiple styles of mineralized structures which may have been the source(s) for
the significant gold in till samples previously reported. The Company will now
search for structural features which may have promoted the formation of mineral
deposits containing gold and other metals of interest by performing an airborne
Time Domain Electro-Magnetic ("TDEM") survey over targets Toro 7, Toro 14 and
Toro 18 through 24, as well as the newly staked Pistol claim group. The TDEM
survey will provide the Company with a better understanding of both the regional
and the local structural geology of the targets, and will help to determine
potential sources of the identified mineralized glacial float (see news releases
dated September 14th and 27th). IOCG (iron oxide copper gold) mineralization,
theorized by the Company to be associated with target Toro 7, would respond well
in the survey due to its magnetite content. Potential orogenic gold
mineralization in interpreted fault systems and shear zones will become priority
targets for further field exploration. The TDEM survey will also identify
conductors that may potentially be explained by sulphide mineralization
associated with gold and base metals (reported above), yielding another category
of exploration targets.
Evolving Gold's Chief Executive Officer, Mr. R. Bruce Duncan stated, "These
early results confirm anomalous gold in outcrop up-ice from significantly
anomalous gold in till samples. This previously unexplored area of the La Grande
sub-province has significant exploration potential. The detection of gold in
the system is a milestone for our greenfield exploration program, which will now
focus on identifying and assessing structural and geological features which are
known to be associated with gold deposits in the James Bay area of Quebec."
Methodology
As previously reported on September 24th, 2017, the SL Exploration Inc technical
team collected 483 whole rock grab samples, each approximately 1 kilogram ("kg")
by weight. The 28 samples with results reported herein were bagged and tagged,
and sent to AGAT Laboratories (Val d'Or QC), where they were prepared for assay.
Gold (Au) was determined by pyroanalysis with an AAS finish (protocol 202-051,
with a 2 ppb detection limit). The samples were also submitted for sodium
peroxide fusion with a ICP-MS/OES finish (protocol 201-378), which provided a
59-element whole rock trace analysis.
The 46 C-horizon glacial till samples previously reported were screened in the
field to pass a 5 cm mesh and were subsequently processed to yield concentrates
by SL Exploration Inc. technicians. The concentrates are now ready to be shipped
to Actlabs, (Ancaster ON) for final preparation and assay. Gold and silver (Au,
Ag) will be determined by fire assay with an AA finish (protocol 1A2). Trace
element content will be determined using analytical package Ultratrace 7, which
involves sodium peroxide fusion with an ICP-MS finish.
Qualified Person
Steven Lauzier, P.Geo OGQ, A Qualified Person ("QP") as defined by National
Instrument 43-101 guidelines, has reviewed and approved the technical content
provided in this news release.
About Evolving Gold
Evolving Gold is exploring the 72.5 square kilometre (total area) Lithium Lakes
property in Quebec, located about 10 km north of the Route du Nord and between
eight and 30 km from Nemaska Lithium's Whabouchi Project. The Company's
exploration goal is to discover economic quantities of lithium mineralization,
hosted in pegmatite.
Evolving Gold is also exploring the 172.82 square kilometre (total area) Toro
Project, in the vicinity of the Lithium Lakes property. The Company's immediate
exploration goal is to assess numerous geochemical anomalies in till samples
collected down-ice from large magnetic anomalies.
On Behalf of the Board of Directors
EVOLVING GOLD CORP.
"R. Bruce Duncan"
President, CEO & Director
FOR MORE INFORMATION, PLEASE CONTACT:
Investor Relations:
Tel: 604.685.6375
TF: 866.604.3864
Neither Canadian Securities Exchange nor its Market Regulator (as that term is
defined in the policies of the Canadian Securities Exchange) accepts
responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking
statements, which relate to future events or future performance and reflect
management's current expectations and assumptions. Such forward-looking
statements reflect management's current beliefs and are based on assumptions
made by and information currently available to the Company. Investors are
cautioned that these forward looking statements are neither promises nor
guarantees, and are subject to risks and uncertainties that may cause future
results to differ materially from those expected. These forward-looking
statements are made as of the date hereof and, except as required under
applicable securities legislation, the Company does not assume any obligation to
update or revise them to reflect new events or circumstances. All of the
forward-looking statements made in this press release are qualified by these
cautionary statements and by those made in our filings with SEDAR in Canada
(available at www.sedar.com).
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Evolving Gold Corp. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 06.10.2017 - 06:01 Uhr
Sprache: Deutsch
News-ID 562698
Anzahl Zeichen: 8230
contact information:
Town:
Vancouver
Kategorie:
Business News
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