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Evergold Minerals Limited (ASX:EG1)

ALERT: Price-sensitive ASX Announcement for EG1
Current share price for EG1 : $0.021 -0.007 (-25%)+
Announcement
Release
16 Sep 2026 8:25AM
Price at Release
$0.028
Full Release
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Summary
Evergold Minerals Limited (ASX: EG1) reported that aircore drilling at the Duchess of York Prospect within its Mt Monger Gold Project in Western Australia has defined a new shallow gold-mineralised zone about 600 metres northwest of the main Duchess of York zone, named Vanguard. The program completed 132 aircore holes for 2,480 metres between 21 July and 4 August 2026, and key Vanguard intercepts included 19 metres at 0.86 g/t Au from 28 metres including 4 metres at 2.37 g/t Au from 40 metres in MM26AC0022, 9 metres at 1.01 g/t Au from 24 metres in MM26AC0023, and 4 metres at 0.65 g/t Au from 16 metres in MM26AC0024, with additional support from MM26AC0003 returning 8 metres at 0.58 g/t Au from surface. Evergold interprets these shallow aircore results as the near-surface western extension of historical 2021 RC mineralisation, together defining an interpreted footprint of about 250 metres west to east and a further 250 metres north-northeast that remains open, with mineralisation associated with stockwork quartz veining on a porphyry-sediment contact and visible sulphides, similar to the main Duchess of York system. The company said the results are based on 4 metre composite samples and that follow-up RC drilling with 1 metre sampling is scheduled to begin in October 2026 to define grade distribution, continuity, geometry and extent at both Duchess of York and Vanguard, supporting a maiden Mineral Resource Estimate targeted for early 2027, subject to drilling success.
Key Points
  • Aircore drilling identified a new shallow gold-mineralised zone northwest of Duchess of York named Vanguard.
  • Vanguard is located about 600 metres northwest of the Duchess of York main zone at the Mt Monger Gold Project in Western Australia.
  • Best new aircore intercept was 19 metres at 0.86 g/t Au from 28 metres including 4 metres at 2.37 g/t Au from 40 metres in hole MM26AC0022.
  • Adjacent holes returned 9 metres at 1.01 g/t Au from 24 metres in MM26AC0023 and 4 metres at 0.65 g/t Au from 16 metres in MM26AC0024.
  • MM26AC0003 returned 8 metres at 0.58 g/t Au from surface, extending the interpreted anomaly to the north-northeast.
  • Evergold interprets Vanguard as a near-surface western extension of historical 2021 RC gold mineralisation.
  • Combined 2026 aircore and historical 2021 RC drilling define an interpreted mineralised footprint of about 250 metres west to east.
  • The Vanguard anomaly extends about 250 metres north-northeast and remains open to the south-west and at depth.
  • Mineralisation is associated with stockwork quartz veining at a porphyry-sediment contact with visible sulphides, similar to the main Duchess of York zone.
  • Results were based on 4 metre composite samples and require RC drilling to better define grade distribution and true widths.
  • A resource definition RC drilling program covering Duchess of York and Vanguard is scheduled to start in October 2026.
  • Evergold is targeting a maiden Mineral Resource Estimate for Duchess of York in early 2027, subject to drilling results.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.