Evolving pulls long gold intercepts from Rattlesnake

Vancouver – Evolving Gold (EVG-V) has pulled very long gold intercepts from its Rattlesnake Hills project in central Wyoming.

Headliner hole 135, an infill hole on the North Stock Hill, returned 405.4 metres grading 1.31 grams gold per tonne from 5 metres depth and included a 50 metre section grading 5.87 grams gold.

Hole 132, also drilled for infill, cut 334.7 metres grading 1.12 grams gold from 6 metres and included a 18.3-metre section grading 5.17 grams gold.

Both 132 and 135 were near vertical holes and showed oxidation from surface to roughly 150 metres depth. The holes were drilled as part of a 25,600-metre, 63 hole exploration program this year, with results pending for 21 drill holes.

Evolving Gold president and chief geologist Quinton Hennigh stated that the 2010 exploration program brought much of the North Stock zone to 50-metre spacing and the company should now be better able to evaluate the high grade mineralization.

“We are starting to see that some of the high grade intersections in the early drill holes appear to tie together with the more recent intersections,” stated Hennigh. “We therefore believe that we will be able to do a much better job of modeling these high grade structures once we have all the assay results from our 2010 program.”

The company released several other results from Rattlesnake just over a week before the latest drill results. Hole 130 hit 178.3 metres carrying 1.51 grams gold from 107 metres depth and included 10.7 metres grading 5.89 grams gold. Hole 131 cut 205.7 metres averaging 0.59 gram gold from surface.

Rattlesnake Hill is a roughly 5,700-ha property in Natrona County, Wyoming. The property hosts an alkalic gold system with multiple phases of gold mineralization and multiple porphyry targets as well as deep higher-grade stockwork mineralization.

The company had a national instrument 43-101 report prepared for the project earlier this year, but were informed that additional infill drilling was needed before a resource estimate could be released.

Evolving continues to explore on its Nevada properties as well. Recent drill results on a previously untested portion of its Jake Creek property in north-central Nevada returned 45.7 metres grading 0.97 gram gold from 210 metres, while a second hole showed trace amounts of anomalous gold.  

The company recently received conditional approval for listing on the Toronto Stock Exchange, and expects to move over from the TSX Venture exchange once final documentation is approved.

Evolving Gold’s share price was up 17¢ or 17% on the latest results to close at $1.17 on 6.5 million shares traded. The company has a 52-week share price range between 69¢ and $1.29 and 128 million shares outstanding.