Evolving Gold Intersects High Grade Gold in Multiple Zones at its Carlin,
Nevada Project
VANCOUVER, Feb. 25 /CNW/ - Evolving Gold Corp. (TSXV: EVG) (FSE: EV7) (the "Company") is pleased to announce gold assay results from its Carlin, NV project. Highest grades encountered are 31.0 grams per tonne (0.905 oz/ton) over 4.6 meters, including 57.9 grams per tonne (1.691 oz/ton) over 1.5 meters and 44.6 grams per tonne (1.302 oz/ton) over 3.0 meters.
Drill hole CAR-007 intersected six zones of gold mineralization.
Highlights include:
- 31.0 g/t (0.905 oz/ton) over 4.6 meters, including 44.6 g/t
(1.302 oz/ton) over 3.0 meters
- 14.1 g/t (0.411 oz/ton) over 3.0 meters, including 24.9 g/t
(0.727 oz/ton) over 1.5 meters
- 5.5 g/t (0.160 oz/ton) over 7.6 meters, including 12.7 g/t
(0.371 oz/ton) over 3.0 meters
- 7.4 g/t (0.216 oz/ton) over 10.7 meters, including 23.2 g/t
(0.677 oz/ton) over 3.0 meters
"These high grade results confirm that we have discovered a strong significant gold bearing system," comments Quinton Hennigh, Evolving Gold's Chief Geologist and President. "CAR-007 is located 615 meters to the SE of previously reported CAR-002 (see release dated 9/10/09). Both these drillholes show gold in multiple horizons, interpreted to include the Webb formation, an important host at the Rain deposit, and the Popovich formation, an important host for many deposits on the northern Carlin Trend. Biostratigraphic samples from these intervals are currently being evaluated, and will provide key data to confirm this interpretation. These positive results are the direct result of Evolving Gold's stratigraphic and structural models used to target drilling."
- These multiple zones of gold mineralization, encountered over
438 meters (1435 feet) of core length. The intercepts are typical of
gold mineralization near large gold systems on the Carlin Trend.
- The locally very high grades encountered in hole CAR-007 are
characteristic of gold grades observed at underground gold mines on
the Carlin trend.
- Gold grades appear to improve to the west, where the mineralization
is intersected at shallower depths. Depth to gold mineralization in
drill hole CAR-007 is similar to depths at a number of underground
gold mines on the Carlin trend and elsewhere in NV.
- Drill hole CAR-007 is nearly equidistant between the Gold Quarry and
Rain mines at the south end of the Carlin trend.
- The company plans to drill 2-3 wedge holes from the same pre-collar
as CAR-007 to further evaluate mineralization in the immediate area.
Additional holes are planned for the Carlin project, but specifics on
location will be finalized once the geology and assays are returned
from these wedge holes off CAR-007.
----------------------------------------------------- ------------------
From To Interval Gold Interval Gold oz/
Drill Hole (meters) (meters) (meters) grams/tonne (feet) ton
----------------------------------------------------- ------------------
CAR-007 759.1 766.7 7.6 5.5 25 0.161
----------------------------------------- ------------------
Including 759.1 762.1 3.0 12.7 10 0.371
----------------------------------------- ------------------
Including 760.7 762.2 1.5 20.4 5 0.597
----------------------------------------- ------------------
861.3 864.3 3.0 14.1 10 0.412
----------------------------------------- ------------------
Including 862.8 864.3 1.5 24.9 5 0.727
----------------------------------------- ------------------
887.2 893.3 6.1 4.9 20 0.143
----------------------------------------- ------------------
Including 891.8 893.3 1.5 11.7 5 0.342
----------------------------------------- ------------------
920.7 931.4 10.7 7.4 35 0.216
----------------------------------------- ------------------
Including 928.4 931.4 3.0 23.2 10 0.677
----------------------------------------- ------------------
942.1 946.7 4.6 31.0 15 0.905
----------------------------------------- ------------------
Including 943.6 946.6 3.0 44.6 10 1.302
----------------------------------------- ------------------
1170.7 1196.6 25.9 2.1 85 0.061
----------------------------------------- ------------------
Including 1172.3 1181.4 9.1 3.8 30 0.111
----------------------------------------- ------------------
Robert Barker, CEO, comments, "This drill success at Carlin is a great addition to our gold discovery at Rattlesnake Hills in Wyoming. We now have two flagship properties that both represent significant discoveries. They both have major size potential and can add meaningful shareholder value in the future. Evolving Gold plans to drill 20,000 meters of core at Rattlesnake Hills in 2010 to further explore and define that gold discovery. Evolving Gold is in a good position to effectively drill and explore both Rattlesnake Hills and the Carlin project in 2010."
Holes CAR-003 and CAR-004 both encountered large, post mineral faults that appear to offset gold-bearing strata. Because of these faults, only low level gold was encountered in both holes. These holes were designed as shorter holes and may be deepened or followed up by wedge holes in 2010. Rotary pre-collars were drilled for CAR-005 and CAR-006, but no core drilling was undertaken for either hole.
Results from CAR-002, previously reported (see news release 9/10/09) identified three zones of gold mineralization. These zones in CAR-002, 35.1 meters at 1.21 gpt Au, 10.7 meters at 1.01 gpt Au, and 22.8 meters at 1.11 gpt Au, are interpreted to correlate with higher grade zones of gold mineralization in CAR-007. The collar of CAR-007 is located 615 meters northwest of CAR-002.
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, and on five gold properties in and adjacent to the productive Carlin district of northern Nevada.
In addition to its wholly owned properties in Nevada, the Company has a lease agreement with subsidiaries of Newmont Mining Corporation on four prospective gold properties (North Carlin District Properties). Drill holes CAR-002 and CAR-007 are both located on property that is covered by the agreement with Newmont.
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, Quinton Hennigh, Ph.D., P.Geo., is the Qualified Person responsible for the accuracy of this news release.
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, 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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