2013-01-17 13:35:12 -
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/17/13 -- Evolving Gold Corp. (TSX:EVG) (FRANKFURT:EV7) (OTCQX:EVOGF) (the "Company") continues drilling the extension of high grade gold mineralization at the Arch Zone discovery in the southern portion of the prolific Carlin Trend gold district in Nevada. The Company is currently drilling a wedge hole, CAR-021.2, which started at a depth of 1915 feet in the parent hole CAR-021.1. This "wedge" hole is designed to penetrate the favorable gold horizons along the crest of the Arch Zone along strike to the east-southeast. The mineralized zone encountered between CAR-010 (WNW) and CAR-021.1(ESE) has identified one of two zones of high grade gold mineralization in the Arch target area, and this zone currently being drilled is interpreted to extend along a similar east-southeast strike direction.
Modeling of the trend of mineralization indicates that the base of mineralization is dipping steeply to the east-southeast, and that the upper contact of mineralization has a more shallow dip in the same direction. This model strongly suggests a thickening of the high grade gold mineralization to the east-southeast. CAR-021.2 will provide an approximate 30 meter separation to the east-southeast to further test the high grade gold mineralization along this trend. CAR-021.2 has reached a depth of 3000 ft (914 meters). It is currently drilling through the Mississippian carbonate section. The drill hole has intersected a number of features, including increases in Calcite veining, decalcification, presence of sooty carbon, fine grained arsenian sulfides, as shown by field XRF analyses and visual identification of realgar, and increased local folding and faulting. In the Company's earlier drilling these features have been shown to indicate close proximity to gold mineralization and favorable host rocks.
R. Bruce Duncan, CEO of Evolving Gold states: "We continue to drill at Carlin and continue to define and expand the high grade gold zones. Our ongoing drilling at Carlin has identified a large zone of gold mineralization that extends along the entire crest of the Arch Zone with a known strike length currently of over 700 meters. This large zone of gold mineralization is still entirely open along strike. We consider all of the Arch Zone, particularly along the crest, to be highly prospective for the continued discovery and definition of additional high grade gold mineralization, as well as the extension of the known high grade gold zones. The Arch Zone high grade gold occurs at depths similar to depths where underground mining is already underway elsewhere in the Carlin Trend, and the gold grades within the high grade gold mineralization in the Arch Zone are similar or better than some of those operating, underground mines."
The Company's holdings at Carlin and Humboldt are adjacent to the Rain Mine and Saddle Project holdings by Premier Gold Mines Ltd. (PG-TSX) and various operating mines of Newmont Mining Corp. (NMC-TSX). Gold intercepts in the Arch Zone, as previously reported, include 87 meters averaging 6.06 grams per tonne, which included six high grade intervals with grades as high as of 57.9 grams per tonne gold. The six high grade intervals within the overall 87 meter intersection have an aggregate thickness of 31.6 meters and average 15.85 grams per tonne gold.
At this stage of exploration, true thickness of intersections is not precisely known. All assays discussed in this news release were covered previously in earlier releases, and details of analytical procedures and laboratories (SGS Canada Inc. and Inspectorate America) utilized by the Company are identified in those releases. All gold assay averages are weighted averages, weighting each assay by the length of the core interval for that assay. All assay intervals are included in the average, with no bottom cut-off. All gold assays are completed utilizing standard fire assay techniques, using a 30 gram charge. Over limits are completed using a gravimetric finish. All reported intervals are assayed using the same techniques with blank and standard inserts at the secondary lab upon completion to meet internal and 43-101 QA/QC standards.
In compliance with National Instrument 43-101, Dr. Quinton Hennigh, Ph.D., P.Geo., is the Qualified Person responsible for the accuracy of this news release.
About Evolving Gold Corp.
Evolving Gold is focused on exploration and development of its gold properties in and adjacent to the productive Carlin Trend of northern Nevada, and its gold discovery at Rattlesnake Hills, Wyoming. For more information about Evolving Gold please visit: www.evolvinggold.com.
On Behalf of the Board of Directors
EVOLVING GOLD CORP.
R. Bruce Duncan, President, CEO and Director
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).
Evolving Gold Corp.
604.685.6375 or Toll Free: 866.604.3864 email@example.com