Evolving Pulling Gold At Rattlesnake Hills

Vancouver — A first-pass drill program at Rattlesnake Hills in Wyoming is returning promising results for Evolving Gold (EVG-V, EVOGF-O).

The company focused most of its 15-hole first-phase drill program at Rattlesnake Hills on the North Stock zone, a diatreme breccia target roughly 700 metres in diameter. The first hole into this breccia, hole 3, returned 146.3 metres of 2.92 grams gold per tonne, starting 150 metres below surface, including 5.2 metres of 15.15 grams gold, and 7.9 metres of 13.95 grams gold.

Hole 7, collared 65 metres southwest of hole 3, also returned a lengthy, well-mineralized intercept: 131 metres averaging 2.74 grams gold from 105 metres depth, including 33.6 metres of 3.91 grams gold. Starting 543 metres downhole, the drill hit another mineralized zone, which returned 11.6 metres of 0.9 gram gold.

Holes 4 and 5 were drilled on the southeast portion of the North Stock target and both intersected several gold-bearing zones. Hole 4 returned 4.6 metres of 2.54 grams gold from 209 metres depth, followed by 27.7 metres of 1.06 grams gold from 251 metres, and then 15.3 metres of 0.97 gram gold from 389 metres. Nearby, hole 5 cut 23.7 metres averaging 1.47 grams gold from 110 metres depth, 10.7 metres grading 2.45 grams gold from 152 metres, and 18.3 metres of 1.16 grams gold from 306 metres below surface.

And from the northeast corner of the zone, hole 6 hit some longer intercepts: 45.8 metres grading 1.45 grams gold from 136 metres depth, 18.3 metres of 1.16 grams gold from 369 metres, and 98.2 metres of 0.92 gram gold from 447 metres.

There are two other targets at Rattlesnake Hills; Evolving Gold punched a single hole into each in its first-pass program. Roughly 700 metres south of the North Stock zone is Antelope Basin, a potassically altered lamprophyre pipe target. Hole 1 tested the Antelope Basin pipe and returned 137.1 metres grading 0.38 gram gold almost from surface, as well as 36.5 metres grading 1.46 grams gold from 169 metres depth.

Another 250 metres south of Antelope Basin is the South Stock target. The only hole to test the South Stock was hole 2, which deviated significantly to the right and failed to penetrate the target. It still returned long, low-grade intervals, including 75 metres of 0.14 gram gold starting 72 metres down-hole.

Evolving Gold plans to test all three targets with additional drilling in the new year. The company is still waiting on drill results from eight holes.

The Rattlesnake Hills project is home to a volcanic-hosted alkalic gold system similar to the famed Cripple Creek deposit in Colorado. At the 13.4-sq.-km property, which sits some 70 km west of the city of Casper, low-sulphide disseminated gold is hosted by diatreme breccias that encircle a complex of alkali intrusive stocks and plugs. Gold is generally associated with widespread potassic alteration.

Newmont Mining (NMC-T, NEM-N) drilled one part of Rattlesnake Hills in the early 1990s and came up with some significant intercepts, including 150 metres of 1.6 grams gold from surface. Evolving is earning a 100% interest in the property from Golden Predator Mines (GP-T, GPDRF-O) and Bald Mountain Mining.

Evolving also holds eight other gold properties, primarily in Nevada, including a lease agreement with Newmont on four prospective properties within the prolific Carlin gold trend.

The company has $18 million in its treasury. News of the latest drill results added just 2¢ to Evolving Gold’s share price, bringing it to 24¢. The company has a 52-week range of 14¢-$2.60 and has 80 million shares issued.