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Evergold Minerals (ASX:EG1) has reported encouraging results from the first assays of its RC drilling at the Duchess of York prospect, with broad gold intercepts confirming mineralisation extends beyond previous drilling.
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The standout result returned 22 metres at 1.80g/t gold from 59 metres, including eight metres at 3.38g/t gold, marking the widest intersection recorded at the prospect. Other notable results included 23 metres at 0.69g/t gold, including three at 2.25g/t gold, 14 at 1.24g/t gold and 13 at 1.17g/t gold.
The drilling was designed to test extensions to known mineralisation at depth and along strike within the Mt Monger project, ~70 kilometres southeast of Kalgoorlie.
Evergold said the latest results indicate the system is broader and flatter than previously interpreted, with mineralisation open down dip and warranting further drilling. The company believes the broad intersections improve confidence in the continuity while refining its geological understanding.
Importantly, the current results represent only a small portion of the overall drilling program. Evergold told shareholders that its received assays for less than a quarter of the samples submitted, with the majority still pending, including the first results from drilling at the Gladiator prospect.
Alongside drilling, Evergold is completing a high-resolution drone magnetic survey across the Mt Monger project, with the data to be integrated alongside geochemical/gravity datasets to generate new exploration targets.
HotCopper understands the Oz explorer is also planning to fast-track a second phase of reverse circulation drilling at Duchess of York while progressing additional exploration programs across its broader Mt Monger tenure, as remaining assay results continue to be received over the coming weeks.
EG1 has been -19.23% through to lunchtime trade today.
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