Evolving Gold Corp. (EVOGF: OTC Link) | Evolving Gold Expands the Epithermal Gold System at the Jake Creek Project, Nevada

Evolving Gold Expands the Epithermal Gold System at the Jake Creek Project, Nevada

Feb 24, 2012

OTC Disclosure News Service

Vancouver, BC, Canada –

February 24, 2012, Vancouver, British Columbia: Evolving Gold Corp. (TSX: EVG, OTCQX: EVOGF, FSE: EV7) (the “Company”) is pleased to announce that the 2011 drill program at its 100% owned Jake Creek gold property in Nevada expanded the size of the gold system.  Intersections included 39.6m of 0.873 g/t Au, and 19.8m of 0.676 g/t Au, including 1.5m of 3.1 g/t Au.

 

Summary of Results:

 

The 2011 Jake Creek reverse-circulation (RC) drilling program included 3,580.8 meters of drilling in eleven holes.  The eleven holes stepped outward to the west and east from drill hole JC-005, a 2010 drill hole that intersected 28.9m of 1.33 g/t gold and included a 1.5m interval of 11.3 g/t gold from 236.2 – 237.7 meters (release November 18, 2010).  Results of the eleven-hole program are as follows:

 

  • Drill-hole intersections include: 39.6m of 0.873 g/t gold in JC-002, 19.8m of 0.676 g/t gold in JC-006, 1.5m of 3.1 g/t gold within 16.7m of 0.605 g/t gold in JC-013.

 

·         Drilling successfully outlined an epithermal, volcanic-hosted gold system containing sub-horizontal and laterally extensive low-grade gold mineralization. Gold mineralization includes locally banded epithermal veins and gold in quartz-stockwork zones up to 11.3 g/t.

 

  • Drilling indicates that the gold system exceeds 550 meters wide east-west and remains open to the north, south and east. 

 

  • JC-013, the most easterly drill hole, confirmed the presence of multiple zones of epithermal veins with banded quartz and sooty pyrite, as well as sulfidized basalt dikes.

 

  • Gold mineralization is hosted in bleached, clay altered and silicified tuff above Paleozoic siliciclastic rocks.  Gold-bearing zones contain elevated concentrations of arsenic, selenium, antimony, mercury and silver, typical of other well-documented epithermal, volcanic-hosted gold systems.

 

“We are excited to have identified another large, blind gold system in Nevada, between the large Twin Creeks and Getchell deposits to the west, and the Midas district to the east,” says Steve Koehler, Chief Geologist for the Company. “We have just begun to explore this exciting system. The strong alteration, multiple zones of epithermal, banded quartz and sooty pyrite veins, along with extensive gold mineralization is all very encouraging in a system which remains wide open for expansion. We believe the Jake Creek gold target has great potential and look forward to further drilling on this project.”

 

Jake Creek 2011 Drill Hole Results

*Holes released November 21, 2011.  Primary drill composites were calculated using a 0.300 g/t gold cutoff, with variable higher cutoffs for the sub-intervals. True thicknesses at this stage of exploration are not precisely known.

 

Evolving Gold’s 2012 exploration plans include airborne geophysics, geologic mapping, geochemical sampling, and additional reverse circulation (RC) drilling.

 

Drill samples are 1.5 meters and were collected with a reverse-circulation drill.  Samples were shipped to SGS Minerals Services in Elko, Nevada for preparation and to SGS’ lab in Toronto, Ontario for analysis.  Gold results were determined using standard fire assay techniques on 30-gram pulps with an ICP finish.  QA/QC included the insertion of standards, blanks and field duplicates on a regular basis. 

 

In compliance with National Instrument 43-101, Company Chief Geologist, Steven R. Koehler, BSc Geology and CPG, is the Qualified Person responsible for the accuracy of this news release.

 

About Evolving Gold Corp.

Evolving Gold is focused on exploring its gold properties in and adjacent to the productive Carlin district of northern Nevada, and on advancing its gold discovery at Rattlesnake Hills, Wyoming.

 

For more information about Evolving Gold please visit: www.evolvinggold.com.

 

On Behalf of the Board of Directors

EVOLVING GOLD CORP.

 

“R. Bruce Duncan

 

R. Bruce Duncan

Director and CEO

 

FOR MORE INFORMATION, PLEASE CONTACT:

rory@evolvinggold.com

 

 

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, except as required by law. We seek safe harbour.

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/EVOGF/news?id=42908

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