Gold Report - EVG: Chasing the Rattlesnake

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EVG: Chasing the Rattlesnake

Morning Coffee (07/16/2009)
"Shares of Evolving Gold continued to rally yesterday, after nearly doubling on Tuesday. The surge was started by a company update on the definition drilling at its Rattlesnake Hills bulk tonnage gold deposit in Wyoming—including a highlight hole (RSC-020) that intersected 67.1 meters of 10.8 gpt Au. The drill results in RSC-020 represent a major extension of the North Stock high-grade gold mineralization at Rattlesnake. The collar of RSC-020 is approximately 145 meters southwest of RSC-007 (131.1 meters at 2.84 gpt Au), and 210 meters southwest of RSC-003 (146.3 meters at 2.92 gpt Au), which were drilled in 2008. The known strike of the high-grade gold zone is 210 meters. Drilling is currently following this zone along strike and down dip.

. . .There are currently three core drills operating at Rattlesnake to test the extensions of high-grade gold mineralization identified in 2008 and to expand the bulk tonnage halo gold mineralization that surrounds the high-grade gold. The company highlights that it is well-funded with approximately $16 million in treasury to aggressively explore this project."

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