Evergreen Lithium (ASX:EG1)
Don’t be fooled by the name as earlier this month Evergreen made a transformational acquisition, purchasing the Leonora Goldfields Project in WA to mark the Company’s entry into the gold sector.
The acquisition positions Evergreen in one of WA’s most prolific gold-producing regions, close to multi-million-ounce operations such as King of the Hills and Sons of Gwalia.
The Leonora Goldfields Project comprises a significant package of 15 tenements, including 13 granted mining leases or prospecting licences, and two exploration-stage assets.
Figure 4: Location Map Showing Evergreen’s Central Goldfields Tenements.
The project boasts a current JORC 2012-compliant inferred resource of 63,000 ounces of gold across three prospects: Craig’s Rest, Victor Bore and Great Northern.
The project also holds an exploration target of up to 592,000 ounces at an average grade of 3.6 g/t Au, offering considerable upside pending further drilling and geological confirmation.
Evergreen is prioritising further drilling and resource expansion while converting additional prospecting licences to mining leases, setting the stage for future production scenarios.
EG1’s Australian Security Exchange-listed share price is currently trading at $0.03 (11:00 am UTC+ 8 hours)
Gold is re-establishing itself not just as a safe haven, but as a cornerstone of a new global monetary system. For investors the bullish trend offers a rare combination of stability and incredible upside, and it doesn’t look like slowing down.
