Evergold CEO Says Golden Lion Holes 'Did Exactly What We Thought'

Trevor Hall (0:16)

Back in May, Evergold announced we would drill 4,000 meters at the Golden Lion to test a 2-kilometer gold-silver trend. The program is done, six holes are back, and CEO Alex Walcott is here to walk us through it.

The Golden Lion is located in north-central British Columbia, the same mining district as Cinteras Camesse Mine. Alex, let's start with those GL1 drill results. In an interview with Goldfinger Capital, you said you wanted to do some systematic work building on a 2021 drill fence program. What concept are you testing?

Alex Walcott (0:50)

In 2021, it was our last year, we actually drilled the project with Evergold. But we are old, the current is way nice numbers.

And what they did indicate was the body was dipping to the northeast rather than a lot of holes were drilled northeast, so they're drilling down.

So what it symbolized to us was we went back and looked at all the old data, hold it together. I mean, this concept was backed around by the GeoDat and the Mining 21 also. And we had some good people there. But the idea being is basically the body was dipping. So what we decided to do is set the thermal system. So we really wanted to test the long strike and see if we could actually map this geology and try to understand some of this structure for post-minerization. So it is a fault structure and it did turn out to be fairly well. So we lined up quite nicely and most of our goals did exactly what we thought they were going to do. And so we didn't really change much for our original plan, what we planned to do in the spring. We actually had to get in the summertime and the results were full.

Trevor Hall (1:49)

Can you talk about some of those high-grade results and also talk about what you're seeing? You said that there was that defined zone, but you also said there was a lower zone that was developing and potentially some different bodies.

Alex Walcott (2:03)

Yeah. So I mean, this is all we hit when we actually stepped over, when we did our first times of old, we had some pretty decent numbers, when we had some nice consistence like GL-26, we got 44 meters of 0.74 and GL-27, we got 54 meters of 0.94 gold. But we also see at the bottom in like full 31 was this deep airsept. And it's kind of a nice huge zone, but it's got some very nice numbers in it. We got 4.9 meters of 7.7 grams per ton, and also a really nice hit of 186 grams per ton silver. Now, what's kind of significant about this is it looks like it may have another, it's kind of drawn multiple pulses in the system. So we might actually have a lower zone forming because in the bottom of full 25, beneath our decent airsept level, which we previously released, there is actually this little snippet of this high grade, which was high grade gold and silver. And so we think we can trap those across. And they said, well, the same elevation. So that's kind of curious. We're really trying to follow the idea of we're trying to get stock lenses here.

Trevor Hall (3:07)

You said that the mineralization can be quite consistent and that's you want to be building volumes. That was kind of your top takeaway.

Alex Walcott (3:16)

Yeah, no, and that's the whole thing. It's like, I mean, obviously, grade does vary as an epithelial system. So, you know, these things pinch as well. But in a broader sense, when we step over with the drill, we can actually, where we expect we're going to get mineralization, we can line it up fairly well. So that was one of the surprising things. So we just stepped over, drilled the gain in for the most part. I mean, occasionally you get a little fault in there and stuff, but it was fairly well behaved.

Trevor Hall (3:39)

When do you expect to get the remaining drill results?

Alex Walcott (3:41)

We should be having some more holes coming out fairly quick here. We just started getting some QC on them. And then basically was just waiting for our last batch also. So we're still waiting for our ICP data, but I mean, MSA Labs has been pretty awesome in getting the results back to us.

So we'll hopefully put another six wells out in the next week or so, but we're still waiting.

Trevor Hall (4:01)

Now, you called the summer's campaign a two-pronged approach. Can you talk about the Copper King target in the northern part of the Golden Lion property?