Evergold Strikes Gold: Gladiator Prospect Unveils 800m Soil Anomaly

New Exploration Target Emerges at Mt Monger

Evergold Minerals Limited (ASX:EG1) has announced a compelling new gold target at its Mt Monger Gold Project in Western Australia, following its maiden regional soil geochemical survey and high-resolution ground gravity survey. The newly defined Gladiator Prospect features a coherent gold-in-soil anomaly extending over at least 800 metres, which remains open to the north, signalling a potentially extensive mineralised system.

The soil sampling program, conducted in February 2026, collected 489 samples across the project area. Against a low background gold level of less than 10 parts per billion (ppb), the Gladiator Prospect returned peak values of 123 ppb gold, with 10 samples exceeding 70 ppb. This multi-line anomaly is not random but consistent across successive traverses, strongly suggesting a bedrock-hosted gold source at shallow depth.

Gravity Survey Corroborates Structural Controls

Complementing the geochemical data, the ground gravity survey identified a north-south trending gravity feature spatially coincident with the gold anomaly. This gravity anomaly is interpreted as a mineralised structure or shear zone, likely acting as a conduit for gold-bearing hydrothermal fluids. The alignment of these independent datasets reinforces the interpretation of a structurally controlled, intrusion-related gold system within the Bare Hill Shear Zone, a major regional structure known for significant gold mineralisation.

Director Glenn Grayson highlighted the significance of these findings: "The integration of soil geochemistry and gravity data has successfully identified a new, coherent gold target that warrants immediate drill testing. The Gladiator Prospect features a strong, multi-line gold anomaly sitting directly over a gravity feature we interpret as a mineralised structure. With RC drilling about to commence at Duchess of York and air core drilling to be planned at Gladiator, we now have a substantial pipeline of high-quality targets across the Mt Monger corridor. This is an exciting time for Evergold."

Strategic Location and Next Steps

The Mt Monger Gold Project is strategically located approximately 70 km southeast of Kalgoorlie, with proximity to existing processing infrastructure including Vault Minerals’ Randalls Gold Mill less than 5 km away. This advantageous positioning could facilitate efficient development should exploration confirm economic mineralisation.

Evergold is advancing its exploration with planned air core drilling at Gladiator to test the bedrock gold potential beneath the soil anomaly, alongside imminent reverse circulation drilling at the Duchess of York Prospect, which has historic gold intercepts. Further work includes 3D inversion modelling of gravity data and detailed geological mapping to refine target definitions and prioritise drilling across the project portfolio.

These developments underscore Evergold’s methodical approach to unlocking value in the Eastern Goldfields, leveraging integrated geochemical and geophysical techniques to identify and test prospective gold systems.