Evolving Gold Intersects Gold at Carlin Property in Nevada
September 10, 2009, Vancouver, British Columbia: Evolving Gold Corp. (TSXV: EVG) (FSE: EV7) (the “Company”) is pleased to report that assay results have confirmed the presence of gold at its Carlin, Nevada property. The more significant gold intersections include 35.1 meters at 1.21 gpt gold (115 ft. at 0.035 oz/ton), and 22.8 meters at 1.11 gpt gold (75 ft. at 0.032 oz/ton). The highest gold value was a 1.5 meter (5.0 ft) interval with a grade of 11.9 gpt gold (0.35 oz/ton). The property is located on the Carlin Gold Trend, 11.5 kilometers (7.1 miles) northwest of the Rain deposit and 12.5 kilometers (7.8 miles) southeast of the Gold Quarry deposit.
As previously reported, drill hole CAR-002 intersected altered and mineralized rock units, interpreted as highly favorable Lower Plate formations (Webb, Rodeo Creek, and Popovich). Visible iron, arsenic and antimony sulfides were also reported.
The drill hole was terminated at 1,519 meters (4,983 ft.) in breccia with dark gray to black carbon and pyrite veinlets. Assays are still pending for the bottom 70.1 meters (230 ft.) of the drill hole. The Carlin property is one of four properties that are included in an agreement with subsidiary companies of Newmont Mining Corporation.
- Three intervals with elevated gold values are contained in what are interpreted as highly prospective Lower Plate formations. These intervals also include elevated arsenic, antimony and mercury values. The intervals range in length from 10.7 meters to 35.1meters (35-115 ft).
- Trace element values in drill hole CAR-002 are highly anomalous, with the highest values in the drill hole being arsenic at >10,000 ppm, antimony at 8,320 ppm, and mercury at 20 ppm. Barite is also locally abundant in the drill hole.
- The company currently has two core rigs working on the property with additional drilling planned to offset the strong zone of alteration and mineralization intersected in CAR-002. Offset drill holes are planned for distances of 200 to 500 meters (655-1,640 ft.) from CAR-002.
“We consider these results to be a major success for the first drill hole on this property. It is extremely encouraging to see the combination of significant intervals of highly anomalous gold values in Lower Plate formations, coupled with a very strong trace element signature,” comments Quinton Hennigh, President and Chief Geologist. “We interpret these results as demonstrating strong exploration potential for a well mineralized gold system in this part of the Carlin Trend. We currently have two drill rigs working on the property to continue to test the potential of this gold mineralization.”
About Evolving Gold Corp.
Evolving Gold is focused on its discovery property – Rattlesnake Hills, Wyoming. Rattlesnake Hills is an alkalic gold system, similar in geology with the Cripple Creek gold district in Colorado. Drilling at Rattlesnake Hills is focused on the North Stock and Antelope Basin targets. Evolving has the option to acquire 100% of the Rattlesnake Hills project.
Evolving also has eight other gold properties in New Mexico and Nevada including a lease agreement with subsidiaries of Newmont Mining Corporation on four prospective gold properties (North Carlin District Properties) located within the prolific Carlin Trend (see press release 12/5/2007).
The Company presently holds approximately $17 million in its Treasury after paying drilling and other exploration costs incurred to date.
For more information about Evolving Gold Corp please visit: www.evolvinggold.com. To receive regular updates from EVG 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
FOR MORE INFORMATION, PLEASE CONTACT:
Evolving Gold Corp.
Robert Bick, Executive Chairman
robert@evolvinggold.com
Direct: 604 685 6375
Toll Free: 1-866-604-3864
Investor Relations:
First Canadian Capital Corp.
Leo Karabelas
Tel: 416 742-5600 ext. 235
lkarabelas@firstcanadiancapital.com
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Investors can post questions and receive answers at the Evolving Gold Corp IR Hub at http://www.agoracom.com/IR/evolving
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.