"The drill results are very encouraging as they demonstrate that the gold mineralization at North Stock both continues to depths greater than 300 m and may extend southward to connect with the Antelope Basin gold zone," comments William Gee, CEO of Evolving Gold. "The existence of a significant quantity of gold between the two known gold deposits shows the potential to greatly enhance the economics of the known gold system by possibly allowing for a single large pit with a reduced strip ratio." Mr. Gee adds, "We also remain excited for the potential to expand beyond the known gold zones and develop additional drill target elsewhere on this large property".
Assays have been reported for eleven drill holes, RSC-157 through RSC-167. Assays for the remaining thirteen drill holes of this summer drill program will be reported once they are received.
All drill hole averages are weighted averages, weighting each assay interval according to the core length for that assay interval. All assay intervals are included in the average, with no bottom cut-off. True widths of mineralization in these drill holes, at this stage of exploration, are not precisely known.
Drill samples were collected with a diamond core drill. Sample intervals are 1.5 m (5 feet), but in some instances sample intervals were based on geology and alteration. Half core was shipped to American Assay Laboratories in Elko, Nevada for preparation and to American's facility in Sparks, Nevada for analysis. Gold assays were determined using standard fire assay techniques on 30-gram pulps with an atomic absorption finish. Agnico-Eagle QA/QC included the insertion of standards and blanks on a regular basis. Check assays were performed by SGS Minerals Services in Toronto, Ontario.
About The Rattlesnake Hills Project
Rattlesnake Hills is an Evolving Gold, gold discovery joint ventured with Agnico-Eagle on June 27, 2011. Approximately 80,000m of core drilling in 180 holes has been completed in 4 seasons of drilling. As part of the joint venture agreement Agnico-Eagle has the right to earn up to 70% ownership in the project by spending $76 million on a combination of cash payments to Evolving Gold, purchases of Evolving Gold treasury shares, and project work commitments, including the obligation to advance the project through feasibility. Evolving Gold has no further spending commitment on the project as part of this joint venture. The agreement allows for considerable resources to be brought to the project in terms of people, mining expertise and capital while allowing Evolving gold to focus its people and capital on the extensive portfolio of gold properties it controls in Carlin, Nevada.