Evolving Gold Updates Three Active Drill Programs
VANCOUVER, Aug. 23, 2011 /PRNewswire/ -- Evolving Gold Corp. (TSX: EVG) (OTCQX: EVOGF) (FSE: EV7) (the 'Company') is pleased to provide an update of its three active drilling programs in northern Nevada and Wyoming. The Company's drill programs include a steady, year-long core drilling campaign at Carlin-Humboldt, a fast-paced reverse circulation drill program at the new Jake Creek discovery, and a fourth summer core drilling program at its Rattlesnake Hills Joint Venture.
At the Company's flagship Carlin-Humboldt properties on the Carlin Trend in north-central Nevada, core drilling is focused on larger step-outs in the vicinity of drill holes CAR-007 (18.3 m grading 11.7 g/t Au), CAR-010 (10.1 m grading 11.09 g/t Au) and CAR-010.1 (14.7 m grading 8.76 g/t Au). These step-outs include core holes CAR-011 and CAR-012 which have recently been completed 100m north and southwest respectively of drill hole CAR-007. Hole CAR-013 is currently being drilled 300m north of hole CAR-002 a wedge hole, CAR-002.3.1 intersected 15.7 m at 5.08 g/t Au. Assays for holes CAR-011 and -012 are expected back in early September.
At Jake Creek near the Getchell Trend in northern Nevada, the Company recently commenced reverse circulation (RC) drilling. To date this season, two holes have been completed and a third is in progress. A total of 20 RC drill holes have been permitted for the summer 2011 program. The 'blind' gold discovery at Jake Creek was made in 2010 when the second of two RC holes intersected 28.9m of 1.33 g/t Au. The first two holes drilled this season have encountered altered volcanic rocks similar to those encountered in the original 'discovery' hole. Assays from these holes are expected in mid-September.
At Rattlesnake Hills in central Wyoming, two core rigs have completed twelve holes thus far and two holes are in progress. The holes drilled to date include step-outs around the North Stock and Antelope Basin Zones as well as two that test the previously undrilled South Target. The objectives of this season's drilling are to extend and infill gold mineralization at these two partially defined gold zones, to explore between these two zones and to test several new gold targets elsewhere on the property. Assays for the first twelve holes are pending. It is anticipated that drilling will be operational throughout the season, fully funded by the Company's joint venture partner.
'The Company's track record of gold discoveries results from our drill-intensive exploration approach,' comments William Gee, CEO of Evolving Gold. 'Our geologic teams are well into another busy drill season and we anticipate steady news flow reporting on all three drill programs in the weeks and months ahead.'
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 its gold discovery at Rattlesnake Hills, Wyoming. For more information about Evolving Gold please visit:
http://www.evolvinggold.com/
On Behalf of the Board of Directors EVOLVING GOLD CORP.
'William Gee' William Gee 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, except as required by law. We seek safe harbour.
Evolving Gold Corporation
CONTACT:
Investor Relations:
Rory Quinn
Tel: 604.685.6375
TF: 866.604.3864
rory@evolvinggold.com