09:39 AM EST, 12/11/2024 (MT Newswires) -- Evergold ( EVGUF ) on Wednesday announced assay results for two core holes (DEM24-04 and DEM24-05) completed on the DEM Mountain Zone near Fort St. James, B.C. in early Oct., in follow up to highly encouraging results from an initial 3-hole drill program (DEM23-01,02,03), carried out in fall 2023.

The company said the latest results and results from the fall 2023 program, showed a broad zone endowed locally with elevated precious and high-value critical elements, each locally exhibiting high grades at the level of individual half to two metre lengths in core samples, or consecutive samples.

The mineral exploration company said the DEM Mountain Zone delivers the highest grades of antimony seen in actual drilling from any Canadian mineral prospect in recent years.

"Antimony has emerged as a focus for speculative interest this year, because of its outsize role in various technology and military applications, and supply shortages precipitated by China's banning of exports, including those to the U.S. just last week," said Evergold ( EVGUF ) Chief Executive Kevin Keough. "..confident that, as the drill density is brought up within this system, and exploration expands beyond the relatively small magnetic low associated with the DEM Mountain Zone into areas below and adjacent to these early intersections, including the large magnetic lows adjacent to the west, we will see the DEM project evolve in a direction that rewards shareholders," Keough continued.

Shares of the company were down by $0.005 to $0.0350 in early trade on the TSX Venture Exchange.