Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
Evolving Gold Corp. (TSX: EVG) (FSE: EV7) (the “Company”) is pleased to report that wedge hole CAR-010.1 intersected 21.5 meters at 6.56 gpt (grams per tonne) gold (70.5 feet at 0.192 opt (oz per ton) gold) including 14.7 meters at 8.76 gpt gold (48.2 feet at 0.256 opt gold) at its Carlin project in Nevada. This wedge hole was drilled from diamond drill hole CAR-010 which intersected 10.1 meters at 11.09 gpt gold (news release, April 14, 2011). The intersection in CAR-010.1 lies approximately 10 meters east of the intersection reported in CAR-010.
“The high-grade gold in this wedge hole, combined with similar intersections in holes CAR-010 and CAR-007, provides valuable information on the geometry of this high-grade Carlin gold target,” comments Quinton Hennigh, Chief Geologist of Evolving Gold. “We now believe a northerly to northeasterly structural trend controls this zone. Our next three holes around CAR-010, will test this model. The large, high-grade gold deposits of the Carlin Trend can have modest footprints, sometimes no more than a few hundred meters in length. All of our planned additional step-out holes will lie within a 150-meter radius of CAR-010.”
