Corp Update - EG1 commences exploration at Leonora
Evergreen Lithium commences exploration at Leonora Goldfields Project with 63,000oz gold resource in Western Australia.
- Gold resource at Leonora Goldfields Project 63,000oz
- Craig's Rest resource 48,600oz
- Victor Bore resource 11,700oz
- Great Northern resource 2,700oz
- High-grade intercept 5m at 57.9 g/t Au
- Cadence's holding in EG1 5.1%
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Cadence Minerals (AIM: KDNC) is pleased to note that ASX listed Evergreen Lithium ("EG1") (ASX: EG1) has announced that it is advancing exploration at its wholly-owned Leonora Goldfields Project (LGP) in Western Australia's prolific central goldfields. The Company's geology team recently conducted a multi-day site visit, completing detailed mapping across key prospects - Craig's Rest, Victor Bore, and Great Northern - to finalise targets for an upcoming drilling campaign with the aim to expand the project's 63,000oz gold resource.
The Leonora Goldfields Project (LGP), acquired by Evergreen in May 2025, is located near multimillion-ounce gold deposits including Red 5's >4Moz King of the Hills and Northern Star's Thunderbox operations. The project hosts a JORC 2012-compliant inferred resource of 63,000oz of gold across three key prospects: Craig's Rest (48,600oz), Victor Bore (11,700oz), and Great Northern (2,700oz).
Highlights:
- Evergreen's wholly-owned Leonora Goldfields Project in WA hosts a JORC 2012-compliant inferred gold resource of 63,000oz, with high-grade intercepts up to 5m at 57.9 g/t Au
- A recent site visit by Evergreen's geology team has confirmed high-grade potential, paving the way for a drilling campaign to expand and upgrade the resource
- Strategically located in WA's prolific central Goldfields, the project benefits from proximity to two large-scale gold processing plants within 40km, offering clear pathways to production
Link here to view the full EG1 ASX announcement
EG1 Chairman Simon Lill commented: "Our geology team has hit the ground running, with a successful site visit providing critical insights to formulate the inaugural drilling campaign. The Board believes there is considerable scope to create significant value for shareholders as we unlock the full potential of the Leonora Goldfields Project, leveraging its existing 63,000oz Au resource and historical high-grade drill results."
Cadence's Holding in EG1
As of the date of this announce Cadence holds approximately 5.1% of EG1's issued share capital.
Cautionary and Forward-Looking Statements
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.