Evolving Gold discovers anomalous gold in polymetallic till anomalies on its Quebec Toro project

— Photo courtesy Evolving Gold

Evolving Gold Corp. is pleased to report that it has received complete analytical results of its Toro Project till sampling program (for details, see news release dated October 13th 2016) from C.F. Mineral Research Ltd., Kelowna, BC. Of all the magnetic features sampled, the exploration target showing the most interesting combination of metallic anomalies was Toro 7, located less than 5 kilometers from the Eastmain-01 road. Till samples were collected on a line 1086m in length, down-ice from the 900m wide high-magnetic geophysical target. The highly anomalous Toro 7 values include two gold (“Au”) results (12,300 and 11,800 ppb), three copper (“Cu”) anomalies (110.5,62.2 and 54.1 ppm Cu) and five bismuth (“Bi”) anomalies (3.69, 3.97, 4.9, 6.52 and 8.97 ppm Bi). There were six additional anomalous gold results, all continuous with the highly anomalous Au results, providing a positive gold signal with a total length of greater than 800 m, and open to the north. Also anomalous were tin (4 anomalous values), antimony (2) and silver (2), each of which are good pathfinders for gold mineralization. Other anomalous element levels down-ice from Toro 7 were phosphorus (1), niobium (4), rare earth elements (“REE”) (4), tantalum (2), cobalt (1) and uranium (3). All metallic assays of till concentrate samples were interpreted using statistical population analysis. Values at or above the 90th percentile were deemed to be anomalous. Values at or above the 95th percentile were deemed to be highly anomalous. Gold values over 1,000 ppb (equivalent to 1 g/tonne Au in the till concentrate) were deemed anomalous while values over 10,000 ppb (equivalent to 10 g/tonne Au in the till concentrate) were deemed highly anomalous.

Based on recent results, the Company has staked 70 additional claims in the areas where strong geochemical anomalies were defined by the Company’s technical team, increasing the Toro Project’s footprint to a total of 130.32 square km. The till anomalies correlate well with 14 priority magnetic targets that could correspond to gold/copper mineralization in iron oxide copper gold deposits (“IOCG”), rare earth elements (“REE”) in carbonatites, intrusion-related gold deposits, or lithium mineralization in pegmatite. The pending claims on Toro 7 can be seen at https://evolvinggold.com/images/Figure-B-2.jpg . The pending claims on the entire Toro Project can be seen at https://evolvinggold.com/images/toro-quebec_lg.jpg.

Toro 7 and other readily accessible exploration targets will be the subject of further field assessment by an all terrain vehicle based team to be dispatched in the first week of July 2017. A helicopter-based field program of the less accessible exploration targets is in the planning stages, and is expected to begin later this summer.

Another goal of the till sampling program was to assess kimberlite indicator mineral (“KIM”) content down-ice from selected circular magnetic targets on its Toro Property which were first described in a press release dated September 15th, 2016. A total of 16 possible kimberlite targets were investigated for KIM out of 24 such targets, selected on the basis of their geophysical characteristics. In the field, a sampling line was oriented perpendicular to the historic glacial flow and down-ice from the target, with a sample spacing of approximately 100 m. Each till sample was screened in the field to collect approximately 5 kilograms of fine material. For each field sample, a heavy mineral concentrate was isolated in the laboratory by C.F. Minerals using dense media separation followed by magnetic separation. These concentrates were then assessed for KIM using optical picking and microscopy, and later assayed for metal content. The KIM results for the potential kimberlite targets assessed in the Phase 1 field program were all negative or inconclusive. However, the numerous anomalous and highly anomalous metal results in the till concentrate samples are strongly suggestive of other types of intrusive features with similar magnetic signatures.

Evolving Gold’s Chief Executive Officer, Mr. R. Bruce Duncan stated, “We are excited about these exceptional gold anomalies in till concentrate samples of up to 22,000 ppb (22 grams per tonne Au) as well as the prospect of a making an IOCG style discovery. The Toro Project claims have never before been the target of advanced exploration work. The discovery of significant mineralization in one or more different deposit types suggested by these early results could be very important not only on the Company’s claims, but also on a regional scale.”