EVG Infill Drilling Demonstrates Continuity of Bulk Tonnage Targets at
Rattlesnake Hills, Wyoming
Significant intersections include 121.9 meters at 1.15 gpt Au (400 ft at 0.034 opt) in drill hole RSC-049 and 128.0 meters at 1.09 gpt Au (420 ft at 0.032 opt Au) including 4.9 meters at 10.18 gpt Au (16 ft at 0.297 opt) in drill hole RSC-043.
President and Chief Geologist,
Rattlesnake Hills is an alkalic gold complex and is similar in geology to the Cripple Creek district in Colorado. At Cripple Creek Anglo Ashanti currently produces approximately 275,000 ounces of gold annually in an open pit, heap leach operation with a recovered grade of approximately 0.49 gpt Au (0.014 opt). More than 20 million ounces of gold has been produced from the Cripple Creek complex from the historic underground mines and the current open pit operations.
North Stock
- DDH RSC-049 - 121.9 meters at 1.15 gpt Au (400 ft at 0.034 opt).
- DDH RSC-043 - 128.0 meters at 1.09 gpt Au (420 ft at 0.032 opt),
including 4.9 meters at 10.18 gpt (16 ft at 0.297 opt)
- Holes RSC-043 and 049 tested gaps in the drilling of the bulk tonnage
target along the south wall of the North Stock diatreme complex.
Antelope Basin
- DDH RSC-045 - 61.0 meters at 1.02 gpt Au (200 ft at 0.030 opt),
within a broad mineralized zone of 219.5 meters at 0.65 gpt Au
(720 ft at 0.019 opt) starting at the top of the drill hole.
- DDH RSC-047 - 36.6 meters at 2.05 gpt Au (120 ft at 0.060 opt) within
a larger zone of 169.2 meters at 0.83 gpt Au (555 ft at 0.24 opt),
starting at 1.5 m down hole.
- DDH RSC-051 - 91.4 meters at 0.88 gpt Au (300 ft 0.026 opt),
intersecting the Antelope Basin target from the northwest at a
vertical depth of about 170 meters below surface.
Drill holes RSC-040, 044, 048 and 050 tested areas interpreted as being outside the main mineralized zones. Hole RSC-040 penetrated the wall of the diatreme at depths in excess of 400 meters, intersecting only modest gold values including 0.8 meters at 1.82 gpt Au (3.0 ft. at 0.053 opt). Drill holes RSC-044 and RSC-048, encountered a localized late stage breccia at the west end of North Stock and drilled into the wall rock schist without intersecting the primary breccia host for gold mineralization. Hole RSC-044 and RSC-048 intersected 67.1 meters at 0.40 gpt Au (220.0 ft. at 0.012 opt) and 19.8 meters at 0.51 gpt Au (65 ft. at 0.015 opt) respectively. Hole RSC-050, drilled between North Stock and Antelope Basin, encountered several intervals of anomalous gold mineralization (0.1-0.4 gpt) distal to the North Stock and Antelope Basin zones.
General Update for Rattlesnake Hills
The Company completed approximately 29,700 m (97,500 ft) of diamond drilling in 78 holes during the 2009 drill program making major progress in defining the potential and continuity of the high grade and bulk tonnage targets at North Stock and Antelope Basin. It has also identified a gold mineralized porphyry target southeast of North Stock, which is an important exploration target for 2010. Assays from 42 drill holes remain to be received from the laboratory.
During 2009 an extensive field program of rock chip sampling and mapping identified five additional new gold targets at Rattlesnake Hills to be drilled in 2010:
- Porphyry outcrops in an area with surface gold values up to 0.6 gpt
Au approximately 600 meters southeast of North Stock, with potential
for a new, buried, gold porphyry target.
- A zone of multiple porphyry dikes and alteration approximately 800
meters east of North Stock.
- New outcrops of diorite, similar to that which hosts gold
mineralization at Antelope Basin, were identified about 400 meters
south and southwest of Antelope Basin in an area of surface gold and
arsenic anomalies.
- A zone of surface rock chips in gold and arsenic, approximately 800
meters long, one kilometer south of Antelope Basin with surface
values of up to 0.8 gpt Au, similar to surface values at North Stock
and Antelope Basin.
- An area of anomalous gold and arsenic approximately 200 meters west
of North Stock may represent a continuation of the North Stock
target.
The Company plans to complete an updated NI 43-101 in the second quarter of 2010.
North Stock - Summary Table of Significant Results
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Drill Hole From To Interval Gold Interval Gold
(meters) (meters) (meters) grams/ (ft) oz/ton
tonne
----------------------------------------------------- -------------------
RSC-043 83.8 211.8 128.0 1.09 420.0 0.032
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Includes 161.6 169.2 7.6 2.89 25.0 0.084
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Includes 190.5 195.4 4.9 10.18 16.0 0.297
----------------------------------------------------- -------------------
RSC-049 126.5 248.4 121.9 1.15 400.0 0.034
--------------------------------------- -------------------
Includes 138.7 157.0 18.3 2.54 60.0 0.074
--------------------------------------- -------------------
Includes 214.9 231.7 16.8 2.12 55.0 0.062
----------------------------------------------------- -------------------
Antelope Basin - Summary Table of Significant Results
----------------------------------------------------- -------------------
Drill Hole From To Interval Gold Interval Gold
(meters) (meters) (meters) grams/ (ft) oz/ton
tonne
----------------------------------------------------- -------------------
RSC-045 0.0 219.5 219.5 0.65 720.0 0.019
--------------------------------------- -------------------
Includes 0.0 61.0 61.0 1.02 200.0 0.030
--------------------------------------- -------------------
Includes 22.9 33.6 10.7 2.15 35.0 0.063
----------------------------------------------------- -------------------
RSC-047 1.5 170.7 169.2 0.83 555.0 0.024
--------------------------------------- -------------------
Includes 132.6 169.2 36.6 2.05 120.0 0.060
----------------------------------------------------- -------------------
RSC-051 196.6 288.0 91.4 0.88 300.0 0.026
--------------------------------------- -------------------
Includes 219.5 227.1 7.6 2.25 25.0 0.066
--------------------------------------- -------------------
Includes 256.0 275.8 19.8 2.18 65.0 0.064
----------------------------------------------------- -------------------
True widths of mineralization in these drill holes at this stage of exploration are not precisely known. More detailed modeling of the mineralization will be an important part of the technical report to be completed in the second quarter of 2010.
Gold assays were completed by SGS
Carlin Update - Drilling Complete, Assays Pending
At the Carlin, Nevada property, the fourth and final hole of the 2009 season, CAR-007, was completed on
Drill holes CAR-003 and CAR-004 were completed as offsets, approximately 200 meters from drill hole CAR-002, to depths of 1,130.2 m and 1,030.2 m (3,700 ft and 3,379 ft) respectively. These holes were designed to intersect the upper gold horizon intersected in drill hole CAR-002, in what is interpreted as the Webb Formation. No diamond drilling was undertaken on failed precollars for CAR-001, CAR-005 and CAR-006.
Assays for the final 70 m (230 ft) of CAR-002 have returned gold values ranging from 0.013 to 0.336 gpt Au. These assay results are interpreted as lying below the lower target zone of gold mineralization. Assays are pending for drill holes CAR-003, CAR-004 and CAR-007.
Peter Grandich
The Company has entered into an agreement with Grandich Publications, LLC (Peter Grandich) to provide investor relations and corporate communications services for the Company for a period of one year commencing
Peter Grandich is Chief Commentator of Agoracom.com, North America's largest online small-cap investment center where Peter writes a daily online blog at www.grandich.agoracom.com He is the Managing Member of Grandich Publications, LLC which publishes The Grandich Letter (first published in 1984) and provides coverage of the metals and mining industry.
Incentive Stock Options
The Company announces that as part its regular compensation program for directors, officers, employees and consultants that it will distribute 1,530,000 incentive stock options (not including the options granted to Peter Grandich) to directors, officers, employees and consultants of the Company at a price of
About Evolving Gold Corp.
Evolving Gold is focused on exploring its significant discovery at Rattlesnake Hills, Wyoming, an alkalic gold system, similar to the Cripple Creek gold district in Colorado. Evolving Gold has the option to acquire 100% of the Rattlesnake Hills project.
Evolving also has nine other gold properties in New
For more information about Evolving Gold please visit: www.evolvinggold.com. To receive regular updates or to receive a follow-up call from Investor Relations please sign up at: http://evolvinggold.com/sign-up.php.
In compliance with National Instrument 43-101,
On Behalf of the Board of Directors
EVOLVING GOLD CORP.
"Robert Barker"
---------------
Robert Barker
CEO and Director
FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: results of exploration activities and development of mineral properties, fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing, currency fluctuations, general market and industry conditions and other risks disclosed in the Company's filings with Canadian Securities Regulators.
Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Neither 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 release.
For further information: Evolving Gold Corp.: Robert Bick, Executive Chairman, [email protected], Direct: (604) 685-6375, Toll Free: 1-866-604-3864, www.EvolvingGold.com; Investor Relations: Leo Karabelas, First Canadian Capital Corp., Tel: (416) 543-3120, [email protected]; Shiro Rae, Senergy Communications Inc., Tel: (778) 331-2095, [email protected]; Investors can post questions and receive answers at the Evolving Gold Corp IR Hub at http://www.agoracom.com/IR/evolving
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