Evergold Files NI 43-101 Report for DEM Property
31 Agosto 2023 - 1:00PM
Evergold Corp. (TSX-V: EVER, OTC: EVGUF, WKN:
A2PTHZ) (“
Evergold” or the
“
Company”) is pleased to announce that it has
filed an independent technical report in accordance with National
Instrument 43-101, Standards of Disclosure for Mineral Projects, on
the newly optioned DEM project (news, August 2, 2023), located in
central British Columbia (the “DEM Property”). The target at the
DEM Property is a copper-gold-silver porphyry system defined by
multiple supporting data sets. These include soil geochemistry,
compelling strong magnetic and IP-chargeability anomalies
associated with favourable geology and regional scale structures.
Evergold plans to initiate the exploration recommended in this
technical report in the near term.
The technical report, entitled "Technical Report
on the DEM Property, Fort St. James Area, British Columbia,
Canada”, was prepared by Linda Dandy, P.Geo., Consulting Geologist,
of Atlin, B.C., and has an effective date of August 30, 2023. The
report is available on SEDAR+ under Evergold's issuer profile. The
report details the geological setting of the DEM Property with a
particular focus on the DEM Halo copper-gold-silver porphyry
prospect, where the bulk of the surficial historical exploration
work by prior operators has taken place, and recommends a 2-phase
work program in follow up. Phase I will include an expanded soil
geochemical survey, geological mapping and four helicopter
supported diamond drill holes from two drill pad locations at an
estimated cost of $724,500. Phase 2, which will be contingent upon
the receipt of positive results from Phase 1, would entail expanded
induced polarization and airborne magnetic surveys, data
compilation, and systematic fences of diamond drill holes.
As announced August 2, 2023, the Company has the
right to earn a 100% ownership interest in the DEM Property in
exchange for staged cash payments to the optionors over four years
cumulatively totaling $980,000, in addition to escalating work
commitments totaling $5,000,000 over the same time frame. The
Option Agreement to acquire the DEM Property remains subject to
receipt of all necessary regulatory and other approvals, including
the final approval of the TSXV and the approval of disinterested
shareholders of the Company.
Linda Dandy, P.Geo., Consulting Geologist and a
Qualified Person as defined by NI 43- 101, has reviewed and
approved the technical information in this news release.
About Evergold
Evergold Corp. is a TSX-V listed mineral
exploration company with projects in B.C. and Nevada. The Evergold
team has a track record of success in the junior mining space, most
recently the establishment of GT Gold Corp. in 2016 and the
discovery of the Saddle South epithermal vein and Saddle North
porphyry copper-gold deposits near Iskut B.C., sold to Newmont in
2021 for a fully diluted value of $456 million, representing a
1,136% (12.4 X) return on exploration outlays of $36.9 million.
For additional information, please contact:
Kevin M. Keough President and CEO Tel: (613)
622-1916kevin.keough@evergoldcorp.cawww.evergoldcorp.ca
Neither the 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 news release.
Cautionary Statement Regarding
Forward-Looking Information
This news release includes certain
“forward-looking statements” which are not comprised of historical
facts. Forward- looking statements include estimates and statements
that describe the Company’s future plans, objectives or goals,
including words to the effect that the Company or management
expects a stated condition or result to occur. Forward-looking
statements may be identified by such terms as “believes”,
“anticipates”, “expects”, “estimates”, “may”, “could”, “would”,
“will”, or “plan”. Since forward-looking statements are based on
assumptions and address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Although
these statements are based on information currently available to
the Company, the Company provides no assurance that actual results
will meet management’s expectations. Risks, uncertainties and other
factors involved with forward-looking information could cause
actual events, results, performance, prospects and opportunities to
differ materially from those expressed or implied by such
forward-looking information. Factors that could cause actual
results to differ materially from such forward-looking information
include, but are not limited to failure to identify mineral
resources, delays in obtaining or failures to obtain required
governmental, environmental or other project approvals, political
risks, inability to fulfill the duty to accommodate First Nations,
uncertainties relating to the availability and costs of financing
needed in the future, changes in equity markets, inflation, changes
in exchange rates, fluctuations in commodity prices, delays in the
development of projects, capital and operating costs varying
significantly from estimates and the other risks involved in the
mineral exploration and development industry, and those risks set
out in the Company’s public documents filed on SEDAR. Although the
Company believes that the assumptions and factors used in preparing
the forward-looking information in this news release are
reasonable, undue reliance should not be placed on such
information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. The Company disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, other than as required by law.
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