Evolving Gold Intersects 15.7 Meters at 5.08 gpt Gold Carlin Trend, Nevada
VANCOUVER, June 20, 2011 /PRNewswire/ -- Evolving Gold Corp. (TSX: EVG) (FSE: EV7) (the 'Company') is pleased to report that two drill holes have intersected significant high grade gold at its Carlin project in Nevada. Both new holes are wedges drilled from hole CAR-002 and fall within an area approximately 20 meters north and northeast of this mother hole.
-- Intercepts in wedge hole CAR-002.3.1 include 15.7 meters at
5.08 grams per tonne gold (51.5 feet at 0.148 oz per ton gold)
including 1.4 meters at 38.1 gpt gold (1.113 opt gold).
-- Intercepts in wedge hole CAR-002.3 include 22.8 meters at 1.47
gpt gold (74.8 feet at 0.043 opt gold) including 1.1 meters at
20.8 gpt gold (3.6 feet at 0.607 opt gold).
'The intercepts in these two wedges corroborate and extend previous intercepts in this high grade zone, but more importantly, indicate there is a vector of improving grades trending in a northerly direction,' comments Quinton Hennigh, Chief Geologist of Evolving Gold. 'We are currently drilling a new precollar, CAR-013, approximately 300 meters north of CAR-002 to test for extensions of this high grade zone.'
Summary of Resultsfrom Diamond Wedge Hole CAR-002.3.1
Gold (grams Length Gold (oz
Hole From (m) To (m) Length (m) per tonne) (feet) per ton)
CAR-002.3 868.9 937.3 68.4 0.67 224.4 0.020
including 914.5 937.3 22.8 1.47 74.8 0.043
including 936.2 937.3 1.1 20.8 3.6 0.607
CAR-002.3.1 886.4 950.8 64.4 1.40 211.2 0.041
including 920.8 936.5 15.7 5.08 51.5 0.148
including 920.8 922.3 1.5 15.10 4.9 0.441
including 935.1 936.5 1.4 38.10 4.6 1.113
The Company presently has two core rigs drilling on its Carlin Trend properties, one testing a target on its 100% owned Humboldt project, and a second drilling approximately 700 meters northwest of hole CAR-002 on the Carlin project. Two emerging high grade zones have been discovered at Carlin, one proximal to hole CAR-002 and one about 700 meters northwest in the vicinity of holes CAR-007 and -010.
The Carlin project is subject to an agreement with various subsidiaries of Newmont Mining Corporation. A technical report (NI 43-101 report) has been completed and filed for the Company's three gold exploration projects in the Carlin Trend, and it is now available on SEDAR.
Rattlesnake Hills Project
On May 9th, 2011 the Company reported that it had signed a Letter Agreement with Agnico-Eagle Mines Limited to form a joint venture on the Rattlesnake Hills project. Preparation of the definitive joint venture agreements is proceeding well, however the timeframe for completing the definitive documentation has been extended a second time, from the original June 1st to June 24th. Concurrently, Agnico-Eagle Mines Limited has signed a drill contract, and the drill program on the Rattlesnake JV is expected to begin core drilling during June 2011.
All drill hole averages are weighted averages, weighting each assay interval according to the core length for that assay interval. All assay intervals are included in the average, with no bottom cut-off. True widths of mineralization in these drill holes, at this stage of exploration, are not precisely known. Gold assays were completed by SGS Canada Inc. in Toronto, using a 30 gram charge, fire assay, with an ICP finish.
About Evolving Gold Corp.
Evolving Gold is focused on exploring its four gold properties in and adjacent to the productive Carlin district of northern Nevada, and on its gold discovery at Rattlesnake Hills, Wyoming. In compliance with National Instrument 43-101, Quinton Hennigh, Ph.D., P.Geo., is the Qualified Person responsible for the accuracy of this news release.
For more information about Evolving Gold please visit: http://www.evolvinggold.com/. To receive regular updates or to receive a follow-up call from Investor Relations please sign up at: http://evolvinggold.com/sign-up.php.
On Behalf of the Board of Directors EVOLVING GOLD CORP.
'William Gee' William Gee CEO 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, except as required by law. We seek safe harbour.
Evolving Gold Corporation
CONTACT:
Investor Relations:
Graham Johnstone
Tel: 778-331-2023
info@evolvinggold.com