EVG: TSX-V
On July 14th the company announced an update on the definition drilling at its Rattlesnake Hills bulk tonnage gold deposit in Wyoming.
Highlights from press release include:
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Drill hole RSC-020 intersected 67.1 meters at 10.8 gpt Au, including 36.6 meters at 16.8 gpt Au. The 36.6 meter interval also contains 12.2 meters at 39.3 gpt Au and a single 1.5 meter intersection of 155 gpt Au. The aggregate composite inclusive of the halo gold mineralization is 185.5 meters at 4.29 gpt Au.
- The drill results in RSC-020 represent a major extension of the North Stock high grade gold mineralization at Rattlesnake.
- Metallurgical studies are underway with initial results expected to be released within the next two months, and an external scoping study and preliminary resource estimate is pending for Q-1 in 2010.
- The Company is well funded with approximately $16,000,000 in treasury to aggressively explore this project.
President and Chief Geologist, Quinton Hennigh comments, “Rattlesnake has many geological similarities to the Cripple Creek deposit in Colorado, where over 20 million ounces were mined from high grade underground operations, and where Anglo Ashanti is currently mining the halo gold mineralization in an open pit with a cutoff of approximately 0.25 gpt Au. This relationship of high grade gold mineralization as an overprint on a much larger zone of halo gold mineralization is typical of the alkalic gold systems. The geophysical results (CSAMT) are really helping us target the main gold zones. They demonstrate that targeting concepts used at Cripple Creek are effective at Rattlesnake as well. The results of our drilling are indicating a major new body of gold mineralization.”
Evolving Gold Profile
Evolving Gold IR Hub
Well, this company is not surprising me a bit. It was under my radar for almost a year. Just got lucky in time to sell somme bad investments and converted them in EVG shares 2 days ago at 0.63. It looks good today and you should see my happy face. Not bad at all guys!
RSC-020 also represents a major extension of the North Stock Target. The strike length is currently 210 meters and they are looking to the drill bit for expansion.
They’ve got 16 million in the bank to explore this. Gold is at $940. They had samples at 10.8, 16.8 and 39.3 gpt. Sound fundamentals and well financed. They’ve got some game.
120 feet of 1/3rd a tonne of gold. Infill drilling will quickly prove up well over a million ounces. Congrats to all Evolving shareholders.