Evergreen Lithium (ASX:EG1) is advancing exploration at its wholly owned Leonora Goldfields Project in Western Australia’s central goldfields, which hosts a JORC 2012-compliant inferred gold resource of 63,000 ounces.
Recent high-grade drilling results include intercepts of 5m at 57.9 g/t gold, highlighting the project’s strong potential.
Evergreen’s geology team recently completed a detailed site visit, conducting mapping across key prospects, Craig’s Rest, Victor Bore, and Great Northern, to finalise targets for an upcoming drilling campaign aimed at expanding and upgrading the existing resource.
The LGP is strategically located near major gold operations such as Red 5’s King of the Hills and Northern Star’s Thunderbox mines.
It benefits from excellent infrastructure, including sealed roads close to targets, grid power, and an available skilled workforce.
Moreover, two large-scale gold processing plants lie within 40km, offering potential toll treatment options and clear pathways to production.
Evergreen acquired the project in May, which comprises 15 tenements including mining, prospecting, and exploration licenses.
The current inferred resource is based on 37 drill holes totalling 3,851m, with high-grade mineralisation near surface potentially suitable for free-dig mining.
The company is progressing regulatory approvals and contractor arrangements for its inaugural drilling campaign, as well as applications to convert several prospecting licenses to mining leases.
EG1 Chairman Simon Lill stated that the geology team’s recent work has provided critical insights to unlock shareholder value by expanding the project’s gold resource and advancing toward production.
