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Highlights:
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Recent drilling at the DEM porphyry prospect in British Columbia has uncovered new intersections in the DEM sulphide vein system, supporting the presence of a large mineralized system.
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The prospect, part of a greenfield discovery, is situated within the Quesnel terrane, an area known for significant porphyry deposits.
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Future exploration will focus on identifying the potential porphyry center, leveraging the recently extended induced polarization (IP) coverage.
Evergold Corp (OTC:EVGUF) has announced encouraging results from a follow-up drilling program at its DEM porphyry prospect, located near Fort St. James, British Columbia. The limited drilling campaign has successfully revealed new intersections of the DEM sulphide vein system, lending support to the company’s theory of a large mineralized system centered around a porphyry intrusion that lies beneath thick glacial till.
The DEM porphyry prospect represents a greenfield discovery and forms part of Evergold’s expansive 12,728-hectare DEM property within the Quesnel terrane, a region renowned for hosting significant porphyry deposits, including the Mount Milligan mine. The recent drilling efforts focused on a small area of the four-square-kilometre DEM Mountain region, where the team believes they may have identified the alteration "halo" surrounding the intrusion anchoring the mineralized system.
Kevin Keough, CEO of Evergold, stated, “As a raw new greenfield prospect first drill tested less than 12 months ago, we continue to make significant advances in our understanding of this large system, of which we have only tested, with limited budget not adequate to the scale of the opportunity, a very small portion to date.” He highlighted the recognition of a large alteration halo, which is mineralized with high-grade elements encompassed by broader envelopes of various valuable elements. Importantly, the recent work has led to the potential identification of the porphyry intrusion central to the system.
During this phase of exploration, two drill holes totaling 756 meters were completed, intercepting sulphide-bearing veinlets and semi-massive sulphides within sedimentary rocks. The drill core has been sent for assay, with results anticipated in November.
In addition to the drilling, Evergold has extended its induced polarization (IP) coverage to the west, north, and south of the previous drilling locations, which has identified potential intrusive centers beneath the glacial till. The area is marked by geophysical anomalies similar to those previously encountered on DEM Mountain. Given the moderate terrain and road access, the DEM property is positioned within a productive mining region, surrounded by large porphyry deposits. Evergold's forthcoming steps will focus on targeting the potential porphyry center through new drilling initiatives.
