Evergold Intersects 41.0 Metres of 1.10 g/t AuEq and 31.9 Metres of 1.43 g/t AuEq on New Northern Fence, Extending Mineralization North at Golden Lion
The northern fence extends GL1 mineralization, with results still outstanding for eight of the sixteen holes drilled in 2026.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Evergold (EVGUF) reported two drill holes extending gold-silver mineralization northwest at the GL1 Zone of its wholly owned Golden Lion project.
The new fence lies approximately 80 metres north-northwest of the 2021 fence in northern British Columbia. GL26-032 returned 41.0 metres of 1.10 g/t gold equivalent, including 6.85 metres of 2.81 g/t. GL26-033 returned 31.9 metres of 1.43 g/t gold equivalent, including 10.55 metres of 2.73 g/t. A separate 4.80-metre interval in GL26-033 averaged 191.0 g/t silver and 0.52 g/t gold.
Eight of sixteen 2026 holes have been reported. Four additional holes are under review pending quality checks. Evergold plans to integrate drilling and surface survey results into 2027 exploration plans. Gold-equivalent grades combine gold and silver using price and recovery assumptions; Golden Lion has no completed metallurgical testwork.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointGL1 mineralization extends approximately 80 metres north-northwest of the 2021 drilling fence.
- Moderate pointGL26-032 returned 41.0 metres at 1.10 g/t gold equivalent, including 6.85 metres at 2.81 g/t.
- Moderate pointGL26-033 returned 31.9 metres at 1.43 g/t gold equivalent, including 10.55 metres at 2.73 g/t.
- Minor pointGL26-033's separate 4.80-metre interval averaged 191.0 g/t silver and 0.52 g/t gold.
- Minor point. Forward-looking: it has not happened yet and may not happen.Evergold plans to integrate drilling, geophysical and surface sampling results into 2027 exploration plans.
Negative
- Minor pointGold-equivalent estimates use unverified Ranch recovery assumptions; Golden Lion has no completed metallurgical testwork.
- Minor pointGL26-034 through GL26-037 results remain under review, with release dependent on completed quality checks.
AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, BC / ACCESS Newswire / November 10, 2026 / Evergold Corp. (TSXV:EVER) ("Evergold" or the "Company") reports assay results for GL26-032 and GL26-033, the first two holes from a new northern fence at the GL1 Zone of its
"The fence was approximately 80 meters northwest of our excellent 2021 intercepts, and it hit a higher-grade gold zone exactly where we anticipated we'd hit it, showing the continuity of the system. The very strong silver values beneath the gold zone are also significant" said Alex Walcott, President and CEO of Evergold.
Table 1: Assay Results, GL26-032 and GL26-033 (ranked best first)
Hole | From (m) | To (m) | Length (m) | Vert. Depth (m) | Au (g/t) | Ag (g/t) | AuEq (g/t)* |
|---|---|---|---|---|---|---|---|
| GL26-033 | 146.90 | 178.80 | 31.90 | 147-179 | 1.32 | 7.8 | 1.43 |
including | 148.00 | 151.30 | 3.30 | 148-151 | 1.56 | 0.8 | 1.57 |
including | 166.20 | 176.75 | 10.55 | 166-177 | 2.41 | 22.0 | 2.73 |
| GL26-033 | 185.70 | 190.50 | 4.80 | 186-190 | 0.52 | 191.0 | 3.34 |
| GL26-033 | 229.50 | 232.00 | 2.50 | 229-232 | 1.26 | 3.5 | 1.31 |
| GL26-032 | 118.00 | 159.00 | 41.00 | 115-155 | 1.06 | 2.4 | 1.10 |
including | 122.65 | 129.50 | 6.85 | 120-126 | 2.65 | 10.6 | 2.81 |
including | 145.50 | 148.50 | 3.00 | 142-145 | 1.72 | 0.8 | 1.73 |
| GL26-032 | 229.50 | 232.70 | 3.20 | 224-227 | 0.47 | 0.8 | 0.48 |
*AuEq (g/t) = Au (g/t) + (Ag (g/t) × 0.01474). AuEq is calculated using metal prices of US
Figure 1: Golden Lion Plan View & Cross Section - 2026 Fence #3
DISCUSSION OF RESULTS
GL26-032 and GL26-033 were drilled from a new pad collared about 80 metres north-northwest of the 2021 fence (GL21-023 to GL21-025) to test the northern extension of GL1. The 2021 fence returned 66 metres of 1.36 g/t Au and 11 g/t Ag in GL21-024 and 11.3 metres of 5.4 g/t Au and 62 g/t Ag in GL21-025 (see News, November 16, 2021).
Near-vertical hole GL26-033 returned 31.9 metres of 1.43 g/t AuEq (1.32 g/t Au and 7.8 g/t Ag) from approximately 147 to 179 metres vertical depth, including a higher-grade core of 10.55 metres of 2.73 g/t AuEq (2.41 g/t Au and 22.0 g/t Ag). A short distance below, a 4.8 metre zone averaged 191.0 g/t Ag and 0.52 g/t Au, with individual samples of 980.7 and 839.1 g/t Ag.
GL26-032 (-77°) returned 41.0 metres of 1.10 g/t AuEq (1.06 g/t Au and 2.4 g/t Ag) from approximately 115 to 155 metres vertical depth, including 6.85 metres of 2.81 g/t AuEq (2.65 g/t Au and 10.6 g/t Ag).
The high-grade silver in GL26-033 lies beneath the gold core, the same relationship seen in GL26-031 (see News, October 2, 2026) and in GL21-025, which returned 1.03 metres of 618.8 g/t Ag and 26.1 g/t Au in 2021 (see News, November 16, 2021). Silver zones of this kind are commonly accompanied by elevated zinc and lead, which the pending ICP results will test.
Table 2: Drill Collar Details (NAD83 UTM Zone 9)
Hole | Easting | Northing | Elev. (m) | Azimuth (°) | Dip (°) | Length (m) |
|---|---|---|---|---|---|---|
| GL26-032 | 602,450.0 | 6,381,782 | 1,819.0 | 227 | -77 | 318.0 |
| GL26-033 | 602,450.1 | 6,381,782 | 1,819.0 | 229 | -89 | 273.0 |
WHAT COMES NEXT
Assays for GL26-034, the third hole on the northern fence, and for GL26-035 to GL26-037 on the southeastern fence are currently under review and will be released once QA/QC is complete. Results for the final four holes of the 2026 program, and multi-element ICP results for all holes will come next. What will follow will include results of a review and reinterpretation of the extents of the GL1 Zone from local detailed geological mapping, soil geochemical sampling, and geophysics (drone magnetometer and heliborne radiometric surveys). In addition, the Company looks forward to compilation, review and presentation of the results from its extensive 2026 regional soil geochemical, geological mapping and airborne geophysical surveys (magnetometer and radiometrics) from the northern Golden Lion property, where historical work indicated excellent further potential for copper exploration.
Once results for all the components are received, the Company will integrate the 2026 drilling, geophysical and surface sampling results into a plans for 2027 exploration.
ABOUT GOLDEN LION AND EVERGOLD
Evergold Corp. is advancing its
QA/QC
Drill core was logged and sawn in half on site, and samples were submitted to MSA Labs in Prince George, British Columbia. Gold and silver were analyzed by PhotonAssay on approximately 500 g samples. All samples have been submitted for multi-element ICP analysis, with results pending. Certified reference standards, blanks and duplicates were inserted into the sample stream at a rate of 2 to
QUALIFIED PERSON
The technical information in this news release has been reviewed and approved by C.J. "Charlie" Greig, P.Geo., Executive Chairman of the Company and a Qualified Person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. Mr. Greig is not independent of the Company within the meaning of NI 43-101.
On behalf of the Board of Directors
Alex Walcott, P.Geo.
President, CEO and Director
For additional information, please contact:
| Alex Walcott, P.Geo. President, CEO and Director Tel: (604) 891-6200 alex.walcott@evergoldcorp.ca | Alwin Fernandez Investor Relations Manager Tel: (778) 559-2205 alwin.fernandez@evergoldcorp.ca |
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Statement Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the interpretation of the drill results reported herein; the continuity, extent and grade of mineralization at GL1, including the potential extension of the high-grade domain at depth; the timing and results of pending assays and ICP analyses, and their effect on gold equivalent values; the 2027 exploration program; and the timing and outcome of permit applications. Forward-looking information is often identified by words such as "expects", "plans", "anticipates", "believes", "may", "could", "would" and "will".
Forward-looking information is based on management's current assumptions, including that pending results will be broadly consistent with results reported to date, that the geological interpretation is materially correct, that the metal prices used in calculating gold equivalent values remain reasonable, and that permits, financing and First Nations relationships will be obtained or maintained as required. Actual results may differ materially due to risks including the failure to identify mineral resources, delays in or failure to obtain permits and approvals, the duty to consult and accommodate First Nations, the availability and cost of financing, volatility in metal prices, equity markets, inflation and exchange rates, and the other risks inherent in mineral exploration, as described in the Company's public filings on SEDAR+ at www.sedarplus.ca. Readers should not place undue reliance on forward-looking information, which speaks only as of the date of this release. The Company disclaims any obligation to update it except as required by law.
SOURCE: Evergold Corp.
View the original press release on ACCESS Newswire
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Evergold's new northern Golden Lion drill holes return?
GL26-032 returned 41.0 metres at 1.10 g/t gold equivalent, while GL26-033 returned 31.9 metres at 1.43 g/t gold equivalent. The holes extend GL1 mineralization northwest, approximately 80 metres from the 2021 fence.
How does Evergold calculate Golden Lion gold-equivalent grades?
Gold-equivalent grades equal gold grades plus silver grades multiplied by 0.01474. The calculation uses US$3,315/oz gold and US$51.53/oz silver, with assumed recoveries of 93.2% gold and 88.4% silver drawn from Ranch-area mill feed assumptions. Lead and zinc are excluded. Those recoveries have not been verified for Golden Lion and actual recoveries may differ materially.
Are Evergold's Golden Lion drill intervals true widths?
The reported intervals are drill core lengths; estimated true widths are 65% to 95% of core length, depending on drill hole inclination. Composites use a 0.30 g/t gold cut-off with up to 5 metres of internal dilution.