The newly-granted permit allows for the completion of the full range of exploration activities, including drilling, geophysical and geochemical programs, as well as a support camp, planned for the property in the approaching 2020 field season.
Evergold Corp. (TSXV: EVER) (“Evergold” or the “Company”), is pleased to announce that it has received a multi-year drill permit for its wholly-owned Golden Lion property, located in north-central British Columbia, Canada. The permit has been issued by the B.C. Ministry of Energy, Mines and Petroleum Resources. The newly-granted permit allows for the completion of the full range of exploration activities, including drilling, geophysical and geochemical programs, as well as a support camp, planned for the property in the approaching 2020 field season.
The Golden Lion property hosts multiple targets that have returned high values of gold+/-silver+/-copper in outcrop and/or soil sampling, including highs to 14.95 g/t gold in sequential soil samples, and 13,406 g/t (13.4 kilograms per tonne) silver and 15.9% copper in selected rock samples. The Company believes these targets are ripe for discovery and intends to drill them for the first time this summer. Readers should note that rock grab samples are by their nature selective and not necessarily representative of the mineralization hosted on the property.
In preparation for this summer’s program, maintenance work started this week on the Omineca Resource Road and its bridges, with financial support from a consortium of industry participants including the Company, and the B.C. Government. The work is being carried out by the Tsay Keh Dene and Kwadacha First Nations, with completion anticipated for late April. The Company has also let a drill contract for Golden Lion with Radius Drilling Corp. of Prince George, B.C. Uncertainty stemming from COVID-19 notwithstanding, field work is targeted to start in late May, with geophysical, geochemical and geological programs to refine drill targets commencing mid June, followed by drilling tentatively scheduled to start in the latter half of July.
The Company is monitoring the evolution of the COVID-19 pandemic and the impact of public health measures being taken to address it. All of the Company’s key suppliers (geologists, drillers, fuel, camp, aircraft and transport) reside in northern and interior B.C., areas that have to date seen a relatively low incidence of the virus. Moreover, neither of the Company’s two flagship properties are located close to any community, and access to them is for the most part through largely unpopulated areas. Discussions with vendors suggest that, barring any government-imposed forced closures of businesses and strict inter-community travel bans, the Company should be able to execute the exploration programs planned for this summer on its Snoball and Golden Lion properties. Protocols are being developed, and measures will be taken as may be necessary, to adjust field operations to ensure the health of workers and prevent spread to remote communities.
“COVID-19 is posing a unique order of threat and challenge to society and industry,” says Kevin Keough, Evergold’s President and CEO. “We are not taking this threat lightly. We are however actively working toward the safe execution of our planned programs, as many people depend upon them for their well-being, and that of their families and communities. The gold price is strong, and investors are telling us that the market will respond to discovery success. Now that our drill permits are in place for both Snoball and Golden Lion, coupled with the proceeds of our initial public offering last October, we believe we are very well placed to deliver on our vision of drilling this summer for the first time, the high potential targets we have identified.”
Source: Company Press Release