Evergold Commences Fieldwork on DEM Property, Central B.C.
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NEWS RELEASE
Evergold Commences Fieldwork on DEM Property, Central B.C.
Toronto, Ontario – June 26, 2024 - Evergold Corp. (TSX-V: EVER, WKN: A2PTHZ) (“Evergold” or the “Company”) is
pleased to announce the launch of this season’s field program on the Company’s road -accessible DEM precious and
strategic metals prospect, located in central B.C. some 40 kilometres northwest of Fort St. James . The program gets
underway this week with prospecting and ground-truthing of the DEM1 and DEM2 target areas and, in July and August,
additional field work including geophysics, mapping and sampling in preparation for follow-up drilling at the DEM1 target,
anticipated for September.
The DEM1 prospect continues to look compelling. A k ey target for follow-up drilling this season is located between the
two widely-spaced pads from the fall 2023 program , where a strong CSAMT resistivity low anomaly on line 68000 N is
coincident with a very strong IP chargeability anomaly, as shown on the Figure 1 section view, below. A plan view of the
same CSAMT target (designated Feature “A” on Figure 2 below) shows last season’s two pads and three reconnaissance
drill holes (results, see news January 15, 2024 ) immediately lateral to Feature A, along with an emerging Feature “B” to
the southeast. A Voxel model of the CSAMT results (Figure 3) shows both Feature s A & B extending to depth. The
combined geophysical datasets and the results of last fall’s drilling and historical geochemical sampling strongly suggest
that these features represent near-vertical zones of sulphide-rich rock which extend from surface to a depth of several
hundred metres or more.
At the DEM2 prospect, a specific area of interest has been identified from magnetic, topographic and geochemical surveys,
located within the small catchment area of an unnamed lake. The latter hosts a molybdenum-copper-cobalt anomaly in
lake sediments stronger than any others in the area, including that which led to the discovery of the DEM1 prospect.
“The DEM1 target continues to look terrific and DEM2 tantalizing for its early apparent similarities, at least in terms of
geophysics, to DEM1”, said Kevin Keough, President & Chief Executive Officer. “Last season’s drilling demonstrated that
the DEM1 system is richly mineralized and hosts an array of sulphides and valuable metals, both precious and strategic.
This year’s geophysics has revealed that the two pads and three holes drilled in 2023 may have been marginally off-target,
and that we really need to test the more highly prospective anomaly between the two, and possibly a second anomaly that
is emerging to the south. Our goal with the next few holes at the DEM1 prospect will be to deliver high-grade underground
style intercepts over broad widths, and to tap into what appears to be a deep-seated system.”
About the DEM Project
The 12,728-hectare DEM property is ideally located in moderate terrain only 40 kms northwest of Fort St. James in central
B.C.. The project area lies toward the south end of the Nation Lakes porphyry camp and within the Quesnel terrane, the
latter of which hosts large deposits and long-life mines including the Mount Milligan mine (50 kms to the northeast of DEM)
and Lorraine deposit and, farther south, the Mt. Polley, Afton, Copper Mountain, and Brenda mines, in addition to the
Highland Valley mines and deposits.
Located central to the DEM property is the DEM1 prospect, a roughly 4km2 target area defined by alteration and mineralogy
suggestive of the presence of a porphyry system, by a multi-element soil geochemical signature, by compelling high-relief
magnetic, IP-chargeability and CSAMT resistivity anomalies, and by the presence of n earby regional scale structures.
Extensive logging in the area and associated forest service roads provide drive-on access directly to the DEM1 prospect.
All of these factors, combined with the results of a reconnaissance drilling program last fall which returned narrow intercepts
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of high-grade gold, silver and strategic metals (molybdenum, cobalt, tungsten, tellurium, rhenium) within a broad low-grade
envelope, underscore the strong exploration merits of the property. Further details on the DEM prospect may be found on
the Company’s website at www.evergoldcorp.ca/projects/dem-property/ and in a NI 43-101 technical report dated August
30, 2023, posted thereon and on the Company’s issuer profile at SEDAR+.
Quality Assurance and Quality Control
Charles J. Greig, M.Sc. P.Geo., the Company’s Chief Exploration Officer and a Qualified Person as defined by NI 43-101,
has reviewed and approved the technical information in this news release.
Figure 1: DEM1 Feature “A” Target Section Views, Comparison of CSAMT and IP Responses, Line 68000, to Scale
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Figure 2: DEM1 Prospect, 2023 Holes in Relation to CSAMT Features A & B, with Proposed 2024 Holes & IP
Figure 3: DEM1 Prospect, CSAMT Features A and B, Voxel Model
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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 exploration space, most recently the establishment of GT Gold Corp. in 2016 and
the discovery of the Saddle epithermal vein and 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) 622-1916
www.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.
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statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the
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