Evolving Gold Defines High Priority Targets on Its Pistol Property
VANCOUVER, British Columbia, May 08, 2018 (GLOBE NEWSWIRE) -- Evolving Gold Corp. (CSE:EVG) (FSE:EV7) (OTCB:EVOGF) (the “Company”) is pleased to announce that following a detailed structural analysis of the high-resolution magnetic and time-domain electromagnetic (“TDEM”) survey on part of its Toro Property, as announced in news release dated April 30th 2018, it has identified numerous primary and secondary targets on the Pistol claim block. The objective of the detailed analysis was to further define the potential source of a large sulphide-rich boulder found on the Pistol claims (see news release dated September 14th, 2017).
The structural analysis was performed by Joel Dubé of Dynamic Discovery Geoscience based in Ottawa. Ten (10) priority targets and 76 secondary targets, associated with possible fault structures were defined, as seen on Figure 1 (https://www.evolvinggold.com/images/pistol_pr_may2018_fig1_lg.jpg). The main area of interest is the zone to the northeast of the metric-scale sulphide-rich boulder found in the 2017 field campaign. Local glacial flow is known to be in the SW direction. Thus, the area up-ice of said boulder is very promising since eight (8) primary targets have been identified with TDEM, of which seven (7) are adjacent to interpreted fault structures. The primary targets also include the two largest magnetic anomalies on the Pistol claim block, for a total of 10 primary targets. The secondary targets include magnetic anomalies located close to interpreted faults.
With this new understanding of the local and regional structural geology of the Property, the 2018 exploration work for the Pistol claims is being planned. Geological mapping and prospecting will cover potential bedrock sources of the mineralized glacial float. Field exploration will focus on ground truthing the magnetic targets, as well as searching for evidence of faults which could host structurally controlled mineralization. A total of 6 additional mineral claims were registered to better cover the magnetic targets.
Qualified Person
Steven Lauzier, P.Geo OGQ, A Qualified Person (“QP”) as defined by National Instrument 43-101 guidelines, has reviewed and approved the technical content provided in this news release.
About Evolving Gold
Evolving Gold is exploring the 72.5 square kilometre (total area) Lithium Lakes property in Quebec, located about 10 km north of the Route du Nord and between eight and 30 km from Nemaska Lithium's Whabouchi Project. The Company’s exploration goal is to discover economic quantities of lithium mineralization, hosted in pegmatite.
Evolving Gold is also exploring the 172.82 square kilometre (total area) Toro Project, in the vicinity of the Lithium Lakes property. The Company's immediate exploration goal is to assess numerous geochemical anomalies in till samples collected down-ice from large magnetic anomalies.
On Behalf of the Board of Directors
EVOLVING GOLD CORP.
“R. Bruce Duncan”
President, CEO & Director
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Neither Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).