Evergold Corp Looks to Repeat Past Success with Upcoming Drill Programs

• Kevin Kehoe, CEO of Evergold Corp, expressed confidence in achieving significant discoveries due to compelling geological data.
• Evergold, an exploration company that recently went public, is focused on discovering potential mining sites, aiming for significant capital gains for investors.
• The company has two flagship projects in British Columbia, Canada: Snowball and Golden Lion.
• Their previous venture, GT Gold, achieved significant discoveries, with returns seeing volatile but substantial capital gains.
• Kehoe emphasizes their team's experience and commitment, noting that they're gearing up for a significant drilling campaign in the upcoming months.

About Evergold Corp

Evergold Corp is a mineral exploration company focused on making new discoveries through drilling. The company went public in late 2019 and currently has two flagship projects, Snowball and Golden Lion, located in the prolific Golden Triangle region of northern British Columbia, Canada. Evergold is led by CEO Kevin Keough and geologist Charlie Greig, who previously worked together at GT Gold Corp and made a major copper-gold discovery called Saddle. Evergold is now looking to leverage this team's experience to make the next big discovery in the Golden Triangle.

Interview with Kevin M. Keough, President & CEO of Evergold Corp.

Successful Track Record at GT Gold Provides Confidence

In the interview, Keough highlighted Evergold’s team’s past success at GT Gold, where they acquired early-stage properties and advanced them to make the multimillion-ounce Saddle discovery. For GT Gold shareholders, this generated significant capital gains with share price spikes from pennies to dollars as drill results were announced.

Keough explained that the share price was very volatile, with big spikes upwards followed by pullbacks, which is common with these types of speculative exploration companies. However, it provided opportunities for investors to take profits and buy back in at lower levels. The Saddle discovery is now on a path towards mining, with GT Gold expecting to announce an initial resource estimate soon that Keough expects could be around 10 million gold-equivalent ounces.

Properties Have Compelling Targets Based on Past Work

Evergold’s two flagship properties, Snowball and Golden Lion, were acquired by Charlie Greig and feature strong geochemical anomalies that provide confidence drilling could lead to a discovery. As Keough explained, the soil and rock sampling done so far clearly shows the presence of metals, indicating they are worth testing with the drill.

Just as they did with Saddle at GT Gold, Evergold has used soil sampling, geophysics, and other geological work to develop compelling targets that will be drill tested for the first time this summer. With a proven team and process, investors can have confidence that any discoveries made have potential to drive significant shareholder value.

Fully Funded for First Phase Drill Programs This Summer

In the interview, Keough outlined plans to start Phase 1 drilling on both Snowball and Golden Lion in mid-June. Evergold currently has around $2 million in the treasury, which is sufficient to complete roughly 2,400 meters of drilling on each project, for a total of 4,800 meters.

The initial drill targets were developed using around $3 million raised from the company’s IPO in late 2019. Over 350 new investors came in during the IPO, providing a relatively wide shareholder base. As a result, Keough explained that Evergold’s shares are quite liquid compared to some other junior explorers.

If initial drilling is successful, Evergold can quickly expand the program thanks to the capital raised and liquid shares. Results from the Phase 1 drilling are expected by September-October.

Future Plans Hinge on Exploration Success

Keough acknowledged that as a non-revenue generating explorer, Evergold will need to raise additional capital moving forward to advance any discoveries. The plan would be to raise additional funds at higher share prices after achieving initial drilling success.

In terms of attracting a major mining company, Keough explained there are no hard metrics required. The key is making a discovery of sufficient size and grade that makes economic sense. A multimillion ounce gold or gold-equivalent deposit would be considered a major success.

For now, Evergold’s focus is squarely on making those initial discoveries that could drive shareholder value higher. Any further advancement or potential sale would come later once the scale of a deposit is better understood.

Conclusion

With fully funded drill programs planned this summer and a proven team that has delivered big returns for early investors in the past, Evergold Corp presents an attractive speculative investment opportunity. The main catalysts investors should watch for are the initial drill results expected in September-October, which could drive significant share price appreciation if high-grade mineralization is intersected. Risk is minimized some by the promising geochemical anomalies identified by past work, increasing chances of drilling success. But exploration is inherently risky, so investment in a company like Evergold should be viewed as speculative.

Overall, Evergold provides upside potential from upcoming drill results and a relatively liquid stock. The shares could be volatile, but huge gains are possible if Evergold's team can repeat past success and deliver more big discoveries. Investors with a high risk tolerance may want to take a closer look and consider investing before the first drill results.