Evergold Minerals Sharpens Three Gold Drill Targets at Leonora With 200 ppb Peak
Key Takeaways
- Evergold's 1,312-sample surface geochemistry programme across 9 km² returned 116 anomalous results at or above 10 ppb Au, with a peak of 200 ppb Au at the Katalina target.
- Three priority targets — Katalina (500m x 500m), Sirius (400m x 300m), and Jack's Reward (400m x 200m) — have been defined on ground with no known historical drilling, representing genuine first-pass opportunities.
- Jack's Reward sits 3.5 km along strike from Northern Star's approximately 1 Moz Wonder gold deposit, providing a meaningful structural reference point for the target's geological context.
- First-pass RC drilling at all three Leonora targets is contingent on Heritage Clearance, which Evergold is currently working to finalise — no drilling can commence until that process is complete.
- The company is running a dual-engine programme in parallel, with resource definition RC drilling at Craig's Rest and a rig booked for October at the Duchess of York Prospect at Mt Monger.
Geochemistry and magnetics sharpen Evergold’s drill targets at Leonora
Evergold Minerals (ASX: EG1) has completed a regional surface geochemistry programme and drone magnetic survey at its Leonora Goldfields Project in Western Australia, defining three priority gold targets for first-pass drill testing. The programme collected 1,312 surface samples across approximately 9 km², with 116 samples returning at or above the anomalous threshold of ≥10 ppb Au and a peak result of 200 ppb Au at the Katalina target. Three targets — Katalina, Sirius and Jack’s Reward — have been defined or expanded adjacent to the existing Craig’s Rest resource, with Jack’s Reward and Sirius interpreted as structurally linked to the Wonder structure, and Katalina interpreted as linked to the Great Northern structure.
Glenn Grayson, Director, Evergold Minerals
“This work has moved Leonora from broad regional prospectivity to a much clearer set of drill-ready targets. We can now see where the key structures intersect the strongest gold anomalism, giving us a far more focused basis for drilling. With new targets emerging alongside resource-definition work at Craig’s Rest, we now have both discovery and resource growth opportunities advancing in parallel.”
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Three targets defined around the Craig’s Rest resource
The geochemical and magnetic datasets have been integrated to identify three discrete priority targets, all within areas of no known historical drilling. Each sits within the same broader tenement package as Craig’s Rest, extending to the south and southwest of the existing resource area. The targets are interpreted as structurally controlled by the Wonder structure and the Great Northern structure.
Katalina
The Katalina target has been expanded to approximately 500m x 500m along strike from the historical Katalina Workings. A total of 24 samples returned ≥10 ppb Au, including the programme’s highest result of 200 ppb Au. No known historical drilling has been conducted here, making it a genuine first-pass opportunity.
Sirius
Located approximately 900m southwest of Katalina, the new Sirius target covers a footprint of roughly 400m x 300m. Five samples returned ≥10 ppb Au, including two results above 50 ppb Au. Sirius is positioned where a late-stage fault is interpreted to offset the Wonder structure, providing a clear structural target for follow-up work.
Jack’s Reward
A further 1 km southwest of Sirius, Jack’s Reward has defined an approximately 400m x 200m gold anomaly, returning 150 ppb Au — the second-best result of the programme. The target lies on the interpreted Wonder structural corridor, approximately 3.5 km along strike from the approximately 1 Moz Wonder gold deposit, which is owned by Northern Star Resources Limited and does not form part of Evergold’s Mineral Resources.
What is a surface geochemistry and drone magnetic survey — and why does it matter?
Surface geochemistry involves collecting soil and regolith samples across a project area and analysing them for gold and other elements. Elevated gold values at surface can indicate that mineralisation may exist in the bedrock below, because weathering and erosion gradually move trace metals upward. It is a cost-effective way to identify where bedrock gold mineralisation might be worth drilling.
A drone magnetic survey adds a second layer of information. Variations in the Earth’s magnetic field, measured by a magnetometer towed beneath a survey drone, reveal contrasts in rock types at depth. In gold exploration, this is particularly useful for mapping fault systems and structural corridors that often act as pathways for gold-bearing fluids.
When the two datasets are overlaid, explorers can test whether gold anomalies at surface sit directly above the structures most likely to host mineralisation at depth. That spatial relationship is precisely what Evergold identified at Katalina, Sirius and Jack’s Reward, tightening the targeting from broad regional prospectivity to specific drill collar locations.
It is important to note that surface anomalism does not confirm bedrock mineralisation. All three targets are defined by their gold response at surface; pathfinder element response across the anomalous samples is subdued, and the structural interpretation remains qualitative. First-pass drilling is the next test, and results may not confirm mineralisation at depth.
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Leonora resource foundation and what comes next
Existing Mineral Resource
The Leonora Goldfields Project hosts a JORC 2012 Inferred Mineral Resource of 63,000 oz Au, reported at a 0.5 g/t Au cut-off grade. As required under standard JORC disclosure practice, it should be noted that there is a low level of geological confidence associated with Inferred Mineral Resources, and there is no certainty that further exploration will result in the determination of Indicated or Measured Mineral Resources, or that the Inferred Resource will be converted to Ore Reserves.
| Prospect | Tonnes | Au g/t | Ounces |
|---|---|---|---|
| Craig’s Rest | 1,096,000 | 1.38 | 48,600 |
| Victor Bore | 234,000 | 1.56 | 11,700 |
| Great Northern | 57,000 | 1.47 | 2,700 |
| Total | 1,387,000 | 1.41 | 63,000 |
JORC 2012 Inferred Mineral Resource, reported at a 0.5 g/t Au cut-off grade. Figures are rounded and may not sum exactly.
Near-term catalysts to watch
Evergold’s near-term programme spans both the Leonora and Mt Monger projects, presenting a dual-engine story of discovery potential at the new Leonora targets alongside resource growth at Craig’s Rest and Mt Monger. Key activities to watch include:
Duchess of York drilling at Mt Monger has been advancing in parallel, with Evergold recording its best grade result to date at that prospect as the company pursues the dual-engine programme it has outlined across both the Leonora and Mt Monger projects.
- Receipt and interpretation of assay results from the Mt Monger 7,000m aircore drilling programme (results pending)
- Resource definition RC drilling at Craig’s Rest
- RC drilling at the Duchess of York Prospect, with a rig booked for October
- Maiden Mineral Resource estimate for Duchess of York, subject to drilling results
- EIS co-funded diamond drilling at Duchess of York, Gladiator and Tiger Lily
- Infill surface geochemistry and first-pass drill testing at Katalina, Sirius and Jack’s Reward, pending Heritage Clearance
The company is currently in discussions to finalise Heritage Clearance across the Leonora region in preparation for a first-pass RC drilling programme. Until that clearance is in place, first-pass drilling at the three new targets cannot commence.
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