Evergold’s DEM Prospect in B.C. Returns High Grades of Antimony in Drilling, Within a Broad System Also Hosting Gold, Silver and Additional Critical Elements
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NEWS RELEASE
Evergold’s DEM Prospect in B.C. Returns High Grades of Antimony in
Drilling, Within a Broad System Also Hosting Gold, Silver and Additional
Critical Elements
Toronto, Ontario – December 11, 2024 - Evergold Corp. (TSX -V: EVER, WKN: A2PTHZ) (“Evergold” or the
“Company”) is pleased to report assay results for two core holes (DEM24-04 and DEM24- 05) completed on the DEM
Mountain Zone near Fort St. James, B.C. in early October this year, in follow up to highly encouraging results from an
initial 3-hole drill program (DEM23-01,02,03), carried out in fall 2023 (see news, January 15, 2024). The DEM Mountain
Zone consists of a polymetallic sulphide-bearing vein and vein-breccia and related alteration system hosted within what is
interpreted to be a zone of hornfels developed around an intrusive centre (see figures, below). The latest results, combined
with those of the fall 2023 program, demonstrate a b road zone endowed locally with elevated precious and high-value
critical elements, each locally exhibiting high grades at the level of individual half to two metre lengths in core samples, or
consecutive samples, including values to highs of 8.37% antimony (DEM24-05), 29.5 g/t gold (DEM23-03), 182 g/t silver
(DEM23-03), 0.12% cobalt (DEM23-03), 42 g/t tellurium (DEM23-03), 0.83% molybdenum (DEM23-02), 3.7 g/t
rhenium (DEM23-02), and 0.32% tungsten (DEM23-01). In general, all of the higher-grade intervals are associated with,
or encompassed by, an envelope of anomalous pathfinder elements and gold and silver. For example, an estimated true
width 48 metres of 0.58 g/t gold and 11 g/t silver in DEM23-03, and 135 metres of 0.12 g/t Au from surface in DEM23-01.
Highlights, DEM Mountain Zone (Note: Drill results from 2023 core holes DEM23-01 and DEM23-02, which collared in
the anomalous zone, coupled with gridded soil sample results, suggest that the DEM Mountain Zone approaches surface.
Antimony is presently valued at approximately $US33,000 per tonne, or roughly 3.5 times the value of copper. See
comments below.)
• High-grade antimony: The DEM Mountain Zone delivers the highest grades of antimony seen in actual drilling from
any Canadian mineral prospect in recent years. This includes individ ual core assay highs to 8.37% antimony over
0.50 metre within 40 metres of 0.42% antimony in DEM24-05, including 3.60% antimony over 2.5 metres (see core
photos, below). Note: the industry generally considers “substantially elevated” grades of antimony mineralization as
containing greater than 0.40% antimony and cut-offs for extraction purposes may be as low as 0.1% antimony.
• High-grade antimony with elevated silver, and some gold: 1.67% antimony (not previously reported) with 182 g/t
silver and 2.89 g/t gold over half a metre in DEM23-03 (core photos, below)
• High-grade gold, with some antimony, cobalt and high-grade tellurium: 29.5 g/t gold and 22 g/t silver with 0.09%
antimony, 0.12% cobalt, and 41.5 g/t tellurium over half a metre in DEM23-03 (core photos, below)
• A broad zone: The DEM Mountain Zone, as defined by visible alteration and the persistence, sample-to-sample within
the zone of highly elevated values of its various defining elements - particularly manganese and arsenic - is broad in
the two directions Evergold has intersected it from to date – i.e. an estimated 48 metres true width from 303 to 351.2
metres in west azimuth hole DEM23-03, and an estimated 40 metres (true width unknown) from 344 to 384 metres
in south drilling hole DEM24-05
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• Rich in high-value elements: The DEM Mountain Zone carries an impressive array of high-value elements: system
pathfinder elements manganese and arsenic; precious metals gold and silver; and critical mineral elements antimony,
zinc, copper, cobalt, tellurium, molybdenum, rhenium and tungsten
• Local higher-to-high grades of all the above elements: The foregoing elements have been shown to be strongly
elevated to high-grade at the level of individual samples or consecutive samples, including antimony to sample highs
of 3.6% Sb over 2.5 metres including 8.4% Sb over half a metre in DEM24-05, tellurium to highs of 42.0 g/t Te over
half a metre in DEM23-03, cobalt to sample highs of 0.12% over half a metre in DEM23-03, molybdenum to highs of
0.82% Mo over 1 metre in DEM23-02, rhenium to highs of 3.7 g/t Re over 1 metre in DEM23-02, and tungsten to
highs of 0.32% W over 1 metre in DEM23-01
“Antimony has emerged as a focus for speculative interest this year, because of its outsize role in various technology and
military applications, and supply shortages precipitated by China’s banning of exports, including those to the U.S. just last
week,” said Kevin Keough, President and CEO. “A number of junior explorers have been attempting to capitalize on this
interest by touting property acquisitions and high values of antimony in grab samples . However, our results are, to the
best of our knowledge, the only antimony -rich drill results delivered year -to-date in Canada. At the DEM Mountain Zone
we have drilled genuinely high-grade antimony over metre+ widths within much larger envelopes, with associated gold
and silver credits – and locally, high-grade gold and a number of other high-value elements – all of them in the same
system, though not always in the same samples. I am therefore confident that, as the drill density is brought up within this
system, and exploration expands beyond the relatively small magnetic low associated with the DEM Mountain Zone into
areas below and adjacent to these early intersections, including the large magnetic lows adjacent to the west, we will see
the DEM project evolve in a direction that rewards shareholders.”
Discussion of Drill Results (refer to figures and photos below)
Drilling to date (three holes for 947 metres in 2023, and two holes for 654 metres in 2024) at the DEM prospect has focused
only on that small part of the 4 km2 DEM prospect area that underlies the topographic and (overall) magnetic highs of DEM
Mountain. DEM Mountain is surrounded by the generally much lower elevations of the DEM Lowlands (see Figures 1 and
4 below, and DEM Mountain fly-over videos on Evergold’s home page at www.evergoldcorp.ca) which include several low-
relief knolls trending off from DEM Mountain to the west, coincident with a roughly donut -shaped arc of underlying
magnetically positive anomalies. DEM Mountain and these knolls are now interpreted to be part of the topographically
higher elevation, relatively well exposed hornfelsed and (generally) magnetically positive alteration halo possibly
surrounding a topographically lower and glacial till-covered intrusion, or intrusions, principally underlying the DEM
Lowlands, and identified in part by magnetic lows; the lows also exhibit locally high IP chargeability and low resistivity.
DEM24-05 was drilled due south (azimuth 180 degrees) at an inclination of minus 65 degrees to a downhole depth of 393
metres, from a pad located 100 metres due west of DEM24-04. Th e hole was designed to target the broad mineralized
volume intercepted between 303 and 351.2 metres in DEM23- 03. At 230 metres downhole the hole came in above the
zone intersected in DEM23-03, approached to within several tens of metres of it, before intersecting a deeper zone of
strongly elevated manganese and antimony to the south, between 344 and 384 metres downhole . Within that zone,
exceptional highs of 3.6% Sb over 2.5 metres were achieved between 360 and 362.5 metres.
DEM24-04 was drilled due west (azimuth 270 degrees) at an inclination of minus 50 degrees to a downhole depth of 261
metres from a pad located 100 metres north and 100 metres west of the site of DEM23-03, and roughly 100 metres south
and 200 metres east of the collars for DEM23-01 and DEM23 -02. This relatively shallow angle hole was designed to
undercut a strong north-south trending soil geochemical anomaly which, further to the northwest at the site of last season’s
DEM23-01 & 02, delivered a long intercept from surface of anomalous gold - i.e. 135 metres of 0.12 g/t Au and 2 g/t Ag
from 6 to 141 metres, including a high er-grade interval running 0.32% tungsten with 155 g/t silver and 5 ppm tellurium,
from 131 to 132 metres. However, o nly disappointingly low silver and gold values were returned from DEM24-04. We
speculate that this part of the DEM Mountain Zone may be slightly deeper in this area, and perhaps trending more toward
the north-northeast.
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Mineralization of the DEM Mountain Zone
The DEM Mountain Zone consists of variably calcareous fine -grained sedimentary rocks, principally interbedded
sandstone and siltstone, cut locally by north -trending metre-scale porphyritic dykes, with the host rocks cut by variably
sulphide-bearing veinlets and veins, very locally of semi- massive to massive character, and commonly associated with
disseminated sulphides. Sulphide minerals observed in core include arsenopyrite, pyrite, pyrrhotite, stibnite, sphalerite,
galena, chalcopyrite, and molybdenite. Sulphosalts are also observed locally. High-grade precious metals, antimony, and
tellurium, along with attendant cobalt, zinc, and lead values are localized to the best developed parts of the vein systems,
particularly the massive sulphide sections, whereas the molybdenum, although present at elevated levels generally
throughout the vein system, achieves high grades within a single narrow porphyritic intrusive (dyke) intercepted from 299
to 301 metres in DEM23-02, where it is accompanied by high -grade rhenium as well as gold, silver and the suite of
elements characterizing other parts of the DEM mineralizing system . Very speculative ly, th e dyke may represent an
apophysis from a larger body of porphyry -style mineralization nearby , although most dykes intercepted in the drilling
appear to be unmineralized.
About Antimony
One of antimony’s primary uses (accounting for about 50% of consumption) is in the form of antimony trioxide in flame
retardants for plastics, rubber, textiles, paper and paints, whereas antimony trisulfide is used in the production of
explosives, pigments and antimony salts. It can also be used for producing semiconductors, infrared detectors and diodes.
Because of its relative inflexibility, it is usually mixed into alloys for further applications in the manufacture of lead storage
batteries, solder, sheet and pipe metal, bearings, castings etc. The latest new technology to utilize the metal is antimony
molten salt batteries for mass storage. However, the relatively new use of antimony in the form of sodium antimonate as
a clarifying agent in photovoltaic (PV) glass, which improves the efficiency of solar panels, is expected to surpass its use
in flame-retardants in the very near future.
According to the United States Geological Survey, total global antimony mine production in 2023 was approximately 83,000
tonnes, with China producing more than 40,000 tonnes, or 48% of the total, followed by Tajikistan at 21,000 tonnes (26%),
Turkey at 6,000 tonnes (7.2%), Myanmar at 4,600 tonnes (5.5%), Russia at 4,300 tonnes (5.2%), Bolivia at 3,000 tonnes
(3.6%), and Australia at 2,300 tonnes (2.8%), with various other countries making up the remainder. China’s m ine
production has fallen significantly in recent years due to depleting mine reserves, problems with maintaining product
quality, and tighter environmental protection r egulations. On September 15 this year, China implemented export
restrictions on antimony and related products including ore, ingots, oxides, chemicals and smelting and separation
technology. This was followed, on December 3, 2024, by an outright ban ning of all exports of antimony to the U.S ..
Elsewhere, internal conflict in Myanmar has le d to limited and unreliable supplies coming out of southeast Asia, and
Russian supplies to the West have been eliminated due to sanctions imposed following their invasion of Ukraine. These
negative supply shocks drive home the importance of securing reliable sources of antimony, and other critical elements.
In consequence of the reduction in supplies, antimony prices have soared in 2024 from around $US12,000 a tonne at the
beginning of the year, to $US33,000 presently, or almost 4 times the current value of copper per tonne.
In recognition of the importance of antimony to a wide range of industrial and military applications, the high degree of
control exerted over world production by a limited number of authoritarian states, and the decline of supplies from those
states, antimony has become one of the few metals to be registered as critical in the rankings of all countries in the West:
i.e. the US, EU, Canada, Japan, UK and Australia.
Table 1 – Significant Assay Results for Diamond Core Holes DEM24-04 and 05. Note: Both DEM24-04 and 05 were
sampled top to bottom. All widths reported are drilled core lengths. Due to the low density of drilling to date, true widths
for the intercepts in both DEM24-04 and 05 cannot presently be determined. However, data gathered from 2023 drill hole
DEM23-03 suggests zone width may approximate 50 metres, although this estimate may change with the acquisition of
additional data. Core diameter is 47.6 mm (NQ). Manganese and arsenic values have been determined to be the key
indicators of system presence.
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2024 Hole ID From
(m)
To
(m)
Width
(m)
Au
(g/t)1
Ag
(g/t)2
Sb
(%)1
DEM23-04 (fully sampled) – no significant assays (hole drilled above the zone?)
DEM23-05 (fully sampled) – strong intercept
303.00 306.00 3.00 0.70 14 0.03
Including 303.50 304.00 0.50 2.19 50 0.11
Zone intercept – first occurrence of
high-grade antimony to last 344.00 384.00 40.00 0.10 2 0.42
Including 344.00 345.00 1.00 0.18 7 0.74
And Including 350.00 351.00 1.00 0.63 3 0.03
And Including 354.00 356.00 2.00 0.80 10 0.09
Including 355.00 356.00 1.00 0.98 17 0.07
And Including 358.00 364.00 6.00 0.10 2 1.63
Including 360.00 362.50 2.50 0.06 1 3.60
Including 361.00 361.50 0.50 0.04 2 8.37
And Including 366.00 368.00 2.00 0.06 2 0.37
And Including 372.00 374.15 2.15 0.04 1 0.52
And Including 377.00 382.40 5.40 0.03 1 0.67
Including 379.00 380.00 1.00 0.03 1 2.42
Notes: 1. Values rounded to two decimals. 2. Values rounded to no decimals.
Figure 1 - DEM prospect perspective view of terrain looking north, showing postulated central intrusion, its encompassing
alteration halo, and the location of drilling to date on the heights of DEM Mountain
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Figure 2 - DEM prospect showing the postulated central intrusion, its encompassing alteration halo, and the location of
drilling to date, on the first vertical derivative magnetics
Figure 3 - DEM prospect schematic section view looking north, showing the postulated central intrusion or intrusions(?),
with encompassing hornfels and/or alteration halo, and the location of drilling to date on the heights of DEM
Mountain
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Figure 4: DEM drilling on g eology showing the t argeted local magnetic low on the heights of DEM Mountain, and the
considerably larger magnetic low immediately adjacent to the west
e
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Figure 5 – Drillhole DEM24-05 section, viewed west
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Photos 1 to 3 below: Core samples of antimony-rich vein-breccia showing darker grey, angular fragments of fine-grained
sedimentary rock surrounded by paler grey stibnite (antimony sulphide) and white to very pale grey quartz -carbonate
veining exhibiting drusy textures and local open space. The mineralization is significant, with abundant stibnite as breccia
infill as well as clots and patches margin al to veins. Minor pyrite is also visible as clots within the host rock. The quartz-
carbonate veins crosscut the sulphide vein breccia, suggesting that a multiphase high-level hydrothermal event occurred
along an active structure - this combination was also evident in the better -mineralized intervals intersected in the 2023
drilling at Dem Mountain (see photos 4 and 5).
Photo 1: Antimony-rich core, 361 metres, DEM24-05
Photo 2: Antimony-rich core, 360.5 metres, DEM24-05