Evergold releases new set of high-grade gold and silver results from the Pyramid Peak area of Snoball project

Evergold Corp (CVE:EVER) has revealed new high-grade gold and silver results from a sampling program on the Pyramid Peak area of its Snoball property in British Columbia (BC).

Rock samples taken from the C Zone at Pyramid Peak included 23 grams per ton (g/t) gold and 309 g/t silver in one sample and 25.6 g/t gold and 750 g/t silver, while talus fines samples included 32.3 g/t gold and 53.8 g/t silver.

The Toronto-based firm also released assays from the final hole of its 2020 Snoball drill campaign, which returned a high-grade gold intercept of 18.4 g/t gold and 5.6 g/t silver over 1.6 metres.

WATCH: Evergold releases remaining drill results from Golden Lion as they prepare for a busy season in 2021 

Evergold said that the drill result reinforces the pattern of high-grade gold-silver intercepts that were established by initial drill results in 2020.

“The C Zone has really blossomed as a prospect with the additional sampling and prospecting work we carried out in September last year, following wrap-up of the Phase 1 drill program,” said Kevin Keough, Evergold’s CEO in a statement.

“It is a high-grade prospect hosting the style of gold and silver-enriched veining that established the early reputation of the Golden Triangle. The high, mountain-top elevation of the discovery suggests our early drilling may have just caught the top of the system.”

Evergold told shareholders that the latest results, now included in an updated model, suggests the C Zone is a broad, SW-NE trending, southwesterly-plunging epithermal-style vein system likely encompassing several variably oriented vein sets. The junior plans to drill holes to the southwest of the Apex pad, which is situated on top of the northeast portion of the C Zone, and perpendicular to the interpreted trend and plunge of the zone where rock and talus fines sampling suggest the tenor of the mineralized system may be increasing.

Keough noted that the company recently closed an $8 million financing, which will go towards further exploration on the early-stage discovery in the pending field season anticipated to start in July.

The CEO added that it will start work at its Golden Lion prospect, site of another large-scale gold-silver system.

Evergold also owns the past-producing Rockland gold-silver property in Nevada.

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Story by ProactiveInvestors