Evergold’s Bynoe Gold Potential Hinges on Next Phase of Drilling

Emerging Gold Potential at Bynoe

Evergold Minerals Limited (ASX – EG1) has unveiled compelling new assay results from its Bynoe Project, located just 50 kilometres south of Darwin in Australia's Northern Territory. The latest re-assays of 2024 reverse circulation drilling samples have confirmed significant gold mineralisation, with standout intercepts including 6 metres at 1.52 grams per tonne gold from 78 metres depth, featuring a high-grade 1 metre sample at 6.53 grams per tonne.

This discovery marks a strategic pivot for Evergold, which initially targeted lithium-bearing pegmatites at Bynoe but has now shifted its focus to gold exploration following these encouraging results. The company’s geological reinterpretation has identified north-trending structural corridors controlling gold mineralisation, closely comparable to those hosting the nearby multi-million-ounce Tom’s Gully and Mt Todd gold deposits within the proven Pine Creek Region.

Geological Context and Historical Evidence

The Bynoe Project sits within the Pine Creek Orogen, a prolific gold province with over 150 years of production and more than 4 million ounces of gold mined historically. Evergold’s team has noted that the gold mineralisation at Bynoe appears to be orogenic in style, associated with quartz vein systems within north-south trending anticlines and shear zones; geological features that have historically hosted significant gold deposits in the region.

Adding to the project's promise, fieldwork has uncovered remnants of historic gold workings aligned with these key mineralised structures, providing tangible evidence of gold prospectivity that had previously been underexplored. Broad anomalous gold zones have been identified across multiple prospects including Bynoe Ridge and Ironwood, with intercepts such as 48 metres at 0.19 grams per tonne gold from near surface and 4 metres at 1.02 grams per tonne gold from 80 metres depth.

Looking Ahead – A Comprehensive Exploration Program

Building on these findings, Evergold has outlined an ambitious gold-focused exploration program set to commence immediately and extend through 2026. Key activities include ongoing auger re-assays to refine the gold distribution, detailed structural interpretation integrating geophysical data, and a planned high-resolution drone magnetic survey to delineate structural architecture and prioritise drill targets.

Chairman Simon Lill expressed optimism about the project’s potential, highlighting the significance of confirming meaningful gold mineralisation within a proven gold-producing region. He emphasised that Bynoe represents a valuable addition to Evergold’s growing portfolio, complementing its advanced projects in Western Australia.

While the current results are promising, the true width and continuity of the mineralisation remain to be established through further drilling. The upcoming exploration efforts will be critical in defining the scale and economic viability of the gold system at Bynoe.