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Evolving Gold Reports Increased Grades for Rattlesnake Hills Gold System
Feb 12, 09 07:43PM
VANCOUVER, Feb. 12 - Evolving Gold Corp. (TSXV:EVG) FSE:EV7) (the "Company") is pleased to announce that metallic screen re-assays have significantly increased gold values in both lower grade and high grade sections.
These re-assays indicate potential that the true grade may be significantly higher than indicated by the original 30g fire assays. The Company is conducting a larger re-assay program of lower grade intervals using metallic screen assay protocols.
Summary of Previous Assay Data for Rattlesnake Hills
The Company previously announced coherent intervals of high grade gold mineralization in holes 65 meters apart:
These long aggregate intervals, though not continuous, indicate a large zone of gold mineralization starting close to the surface. The large halo of lower grade gold mineralization, surrounding the high grade gold zones, is typical of other large alkaline gold systems such as Cripple Creek in Colorado where historic mining produced approximately 20 million ounces of gold from high grade underground operations. Anglo Ashanti is currently mining the low grade halo to the high grade gold mineralization at Cripple Creek in an open pit with a nominal cutoff of approximately 0.25 gpt gold.
Final Assay Results for Phase 1 Drill Program
Drill holes RSC-010 and 015 were aimed to test the western extension of the high grade gold in drill holes RSC-003 and 007. The high grade zone appears to pass between these two drill holes. It is clear that hole RSC-015 deviated away from the projected high grade zone, and hole RSC-010 failed when it encountered a large void at about 70 m depth well before reaching the projected high grade zone. RSC-008 and RSC-014 failed to reach the contact target zone.
Phase Two Drill Program
Dr. Quinton Hennigh, Chief Geologist and President explains, "With the fifteen drill holes we have completed at Rattlesnake, we are beginning to define the geology and controls on gold mineralization. Within the next month, we will present a detailed analysis of all our results and a comprehensive model of this large system."
"This model will outline our plans for our Phase Two drill program in 2009 which will continue to define the size and grade potential of the North Stock Diatreme and test additional targets such as Antelope Basin, South Stock and the intervening ground between these targets. Three core drills will be employed to aggressively drill at least 12,000 meters. We are anxious to get back to drilling and hope to be started as soon as early May."
About Evolving Gold Corp.
Our focus is finding multi-million ounce gold deposits in proven gold producing areas in Western USA. Our geoscience team has over 200 years of collective experience.
Evolving Gold has over $17 million in its treasury.
Additional Assay Information for Rattlesnake Hills
The assays were implemented by the SGS Group. Samples were analyzed by 30g fire assay and an ICP finish, and all values over 10 gpt gold were re-assayed by 30g fire assay and gravimetric finish. All metallic screen fire assays were undertaken by the SGS Group, with the coarse fraction assayed in its entirety and two 30g fire assays completed for the fine fraction. Accurate estimates of the true widths of the mineralized intersections are not available at this early stage in the exploration program on the property.
In compliance with National Instrument 43-101, Quinton Hennigh, Ph.D., P.Geo., Chief Geologist and President of Evolving Gold Corp. is the Qualified Person responsible for the accuracy of this news release.
<< On Behalf of the Board of Directors EVOLVING GOLD CORP.
"signed" Robert W. Barker, Ph.D., P.Geo C.E.O. and Director >>
Investors can post questions and receive answers or review questions and answers posted by other investors at the Evolving Gold Corp. IR Hub at http://www.agoracom.com/IR/evolving. Investors can also e-mail email@example.com with questions and correspondence or request to be added to the investor email list to receive all future press releases and updates in real time.
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.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
For further information: Evolving Gold Corp., Robert Bick, Executive Chairman, firstname.lastname@example.org, General: (604) 685-6375, Toll Free: 1-866-604-3864, www.EvolvingGold.com