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Evergold Minerals Limited (ASX:EG1)

ALERT: Price-sensitive ASX Announcement for EG1
Current share price for EG1 : $0.017 -0.003 (-15%)+
Announcement
Release
23 Oct 2026 1:12PM
Price at Release
$0.020
Full Release
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Summary
Evergold Minerals Limited (ASX: EG1) reported for the quarter ended 30 September 2026 that exploration activity accelerated across its Western Australian gold projects, led by Mt Monger where maiden RC drilling at Duchess of York confirmed broad and locally high-grade gold mineralisation, including 25m at 3.47 g/t Au from 3m and 6m at 5.43 g/t Au from 29m, while maiden RC drilling at Gladiator confirmed mineralisation at depth; the first aircore campaign at Mt Monger completed 262 holes for 6,357m and identified the new Vanguard zone about 600m northwest of Duchess of York, returning shallow mineralisation including 19m at 0.86 g/t Au from 28m, with follow-up RC drilling planned at Duchess of York and Vanguard to support a maiden Mineral Resource Estimate targeted for early 2027. At the Leonora Goldfields Project, surface geochemistry and drone magnetics around Craig’s Rest expanded the Katalina target to about 500m by 500m and defined new Sirius and Jack’s Reward targets on the interpreted Wonder structural corridor, while the project’s existing JORC 2012 Inferred Mineral Resource remained 63,000 oz Au at 1.41 g/t Au, including 48,600 oz at Craig’s Rest. Corporately, the company received a $486,000 R&D tax rebate including interest, ended the quarter with cash of $2.765 million, recorded net operating cash inflow of $76,000, investing cash outflow of $1.334 million driven mainly by exploration and evaluation, noted related-party payments of $161,000, and estimated available funding of 2.28 quarters, while also reporting tenement additions and no disposals or farm-in/farm-out agreements during the quarter.
Key Points
  • Quarterly Activities Report and Appendix 5B for period ending 30 September 2026 released on 23 October 2026.
  • Maiden RC drilling at Duchess of York confirmed broad and high-grade gold mineralisation, including 25m at 3.47 g/t Au from 3m and 6m at 5.43 g/t Au from 29m.
  • Duchess of York mineralisation is interpreted as a broader, flatter-lying bulk-tonnage style system with higher-grade shoots and remains open down-dip.
  • Maiden RC drilling at Gladiator confirmed gold mineralisation at depth, including 8m at 0.44 g/t Au from 43m.
  • Mt Monger aircore drilling completed 262 holes for 6,357m across Duchess of York, Gladiator, Crusader, Paladin and Hickman’s Find.
  • A new shallow gold zone called Vanguard was identified about 600m northwest of Duchess of York.
  • Vanguard returned 19m at 0.86 g/t Au from 28m including 4m at 2.37 g/t Au, and remains open to the south-west and at depth.
  • Resource definition RC drilling is planned at Duchess of York and Vanguard to support a maiden Mineral Resource Estimate targeted for early 2027.
  • At Leonora, 1,312 surface geochemistry samples and about 23 km² of drone magnetics expanded the Katalina target and defined new Sirius and Jack’s Reward targets.
  • Katalina was expanded to about 500m by 500m with a peak result of 200 ppb Au.
  • Jack’s Reward returned 150 ppb Au and lies about 3.5 km along strike from Northern Star’s Wonder deposit.
  • The Leonora Goldfields Project hosts a JORC 2012 Inferred Mineral Resource of 63,000 oz Au at 1.41 g/t Au, including 48,600 oz at Craig’s Rest.
  • The company received a $486,000 R&D tax rebate including interest during the quarter.
  • Cash and cash equivalents at 30 September 2026 were $2.765 million, down from $4.007 million at 30 June 2026.
  • Net cash from operating activities was $76,000 and net cash used in investing activities was $1.334 million, mainly reflecting exploration spending.
  • Exploration and evaluation expenditure for the quarter was $1.291 million.
  • Related-party payments totalled $161,000 in the quarter, including director and consulting fees and rent.
  • Estimated funding available at quarter end was 2.28 quarters.
  • The company acquired tenements during the quarter, did not dispose of any tenements, and did not enter any farm-in or farm-out agreements.
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.