Evergold Minerals Records Widest Gold Intercept at Mt Monger’s Duchess of York

Evergold Minerals Drills Widest Gold Intercept Yet at Duchess of York, With Most Assays Still Pending

Evergold Minerals (ASX: EG1) has reported initial assay results from its 2026 reverse circulation drilling program at the Duchess of York Prospect within the Mt Monger Gold Project, with the standout result returning 22 metres at 1.80 g/t gold from 59 metres, including 8 metres at 3.38 g/t gold. This is the widest gold intercept recorded at Duchess of York to date and supports the view that mineralisation continues below earlier drilling.

The update matters because the current assays represent only a small part of the total drilling program. Evergold stated that assays received so far cover 618 of 2,667 submitted samples, or about 19% of the program, with the remaining results expected over the next two to four weeks. That leaves a substantial volume of unreported drilling, including the first results from the Gladiator Prospect.

The Standout Drilling Results From Duchess of York

According to the drilling results released to the ASX, several holes returned broad gold intervals that appear to support continuity of mineralisation at depth. The headline intercept came from hole MM26RC0024, which also included a separate higher-grade one metre interval near surface.

Summary of Significant Intercepts Reported to Date

The reported holes were drilled to test the down-dip and along-strike extensions of known mineralisation. Results from MM26RC0024 and MM26RC0019 intersected broad zones of gold mineralisation at comparable down-dip positions, while MM26RC0022 returned a broad shallower intercept that also supports continuity across the prospect.

For investors, the key point is not only grade, but also geometry. Broad intervals at comparable positions can help build confidence that mineralisation is not isolated to narrow shoots.

"These initial results are an encouraging start to the 2026 drilling campaign at Mt Monger and reinforce our view that the Duchess of York is a highly prospective gold target," said Glenn Grayson, Director of Evergold Minerals.

"What is particularly pleasing is that we have only received a small portion of the assays from the program so far, yet we are already seeing broad zones of gold mineralisation in the areas we were targeting."

What the Report Says About the Shape of the Mineralised System

A major feature of the update is the company's revised interpretation of the mineralised zone. According to the report, drilling has improved Evergold's understanding of the system, which is now interpreted to be broader and flatter-lying than previously thought. Furthermore, the company stated that mineralisation remains open down-dip.

In simple terms, "open down-dip" means drilling has not yet found the lower limit of the gold-bearing zone. That does not confirm scale on its own, however it does indicate room for further drilling to test whether the system continues.

The ASX announcement also noted that the 22-metre intercept in MM26RC0024 may show the mineralised zone increasing in thickness at depth. If later drilling confirms that pattern, it would be significant, as wider mineralised zones can improve the overall exploration case and may support future resource definition work.

Understanding Duchess of York and Why the Geology Matters

Duchess of York is described in the report as being controlled by the Gladiator Fault, a local structure that sits alongside a felsic intrusive body with sanukitoid affinity. In practical terms, that means the prospect is located where a fault and a particular type of intrusive rock occur together — a setting that Evergold says is typical for gold mineralisation across the Mt Monger camp.

Gold at Duchess of York is associated with quartz veins containing sulphide minerals such as pyrite, arsenopyrite, galena and sphalerite. These minerals were identified visually in drill chips during logging, while gold grades were determined by laboratory assays.

What Is Orogenic Gold Mineralisation?

The report describes Duchess of York as consistent with an orogenic gold system — one of the most common and economically important gold deposit styles in Western Australia. Orogenic gold deposits usually form when hot, gold-bearing fluids move through deep crustal faults and deposit gold where conditions become favourable. Those favourable locations often include:

• Major fault zones
• Rock contacts
• Folded rock structures
• Areas near intrusive rocks

For non-specialist investors, this matters because orogenic gold systems can show good continuity along strike and at depth. Drilling results that support continuity below earlier holes may indicate that the known mineralisation is part of a larger system, although further drilling is always needed to test that possibility.

What Is Reverse Circulation Drilling?

The current program used reverse circulation (RC) drilling, which is a common exploration method in Australian gold projects. RC drilling uses a hammer and compressed air to break rock and bring rock chips back to surface for sampling. Its main advantages are:

• Lower cost than diamond drilling
• Fast drilling rates
• Reliable early-stage sampling across many holes

According to the JORC tables in the announcement, samples were collected at one metre intervals, split at the rig, and assayed using 50 g fire assay at Intertek Genalysis, a NATA-accredited laboratory.

Historical Drilling Provides Additional Context

The 2026 program is building on an existing exploration base rather than testing a completely new target. Evergold highlighted several historical intercepts from Duchess of York that had already demonstrated strong gold mineralisation near surface and at depth.

Selected Historical Intercepts at Duchess of York

These historical results show that the prospect has returned both high grades and meaningful widths in earlier campaigns. Evergold's current drilling was designed to test areas below and beyond that earlier footprint, particularly where prior drilling had been limited.

That context is important. The latest intercepts do not stand alone. They are part of a larger body of evidence suggesting the system continues outside the better-drilled shallow zones.

Most Assays Are Still Pending, Including Gladiator

The current release only covers results from holes MM26RC0019 through MM26RC0024 and MM26RC0028. Evergold confirmed that holes MM26RC001 to MM26RC0018 and MM26RC0025 to MM26RC0027 remain pending.

This pending assay pipeline is one of the more important parts of the update. According to the company, the remaining assays include results from its first drilling at the Gladiator Prospect, which sits in the broader Mt Monger project area.

The report states that Gladiator was identified through gravity and geochemical work and is interpreted to sit within the same broader structural corridor. Evergold also said it plans to commence EIS co-funded diamond drilling at Gladiator to test interpreted sanukitoid-hosted gold mineralisation. For investors following near-term news flow, the key point is straightforward: the current announcement is only a partial result set.

Multi-Dataset Exploration Across Mt Monger

The report also outlined a broader technical work program beyond RC drilling. Evergold said a high-resolution drone-borne magnetic survey is underway across the entire Mt Monger tenure, flown by Shift Geophysics. In early-stage gold exploration, magnetic surveys can be useful for identifying faults, shear zones and intrusive bodies that may be associated with mineralisation.

According to the company, the magnetic data will be integrated with:

• Existing drilling results
• Recently completed gravity survey data
• Geochemical datasets

The stated objective is to refine current targets and identify new ones across the project.

What Happens Next?

The ASX update laid out several near-term activities expected over the coming weeks and months. These provide a structured pipeline of technical milestones:

1. Remaining assay results from the 2026 RC program over the next two to four weeks, including Gladiator
2. Completion and interpretation of the drone magnetic survey across Mt Monger and Craig's Rest
3. Integration of gravity, magnetic, geochemical and drilling data to refine targets
4. Aircore drilling at Mt Monger, scheduled to commence in mid-July 2026
5. Follow-up drilling at Duchess of York to test down-dip and along-strike extensions
6. EIS co-funded diamond drilling at Gladiator
7. Regional geochemical survey at Craig's Rest in July 2026

Evergold also stated that Phase 2 RC drilling at Duchess of York will be fast-tracked, reflecting the encouragement taken from these first results.

Why Project Location Matters

The Mt Monger Gold Project is located about 70 kilometres southeast of Kalgoorlie and covers a contiguous landholding along the Bare Hill Shear Zone. The project includes several prospects, including Duchess of York, Hickman's Find, Red Dale North, Kiaki Soaks and Gladiator, and sits close to existing processing infrastructure.

Nearby Processing Infrastructure

Infrastructure proximity can be relevant in gold exploration because it may improve future development flexibility if an economic deposit is defined. However, Evergold remains an exploration-stage company and has not announced any production decision or development plan for Mt Monger.

Why This Update Matters to Investors

This drilling update adds three material points to the Evergold investment case.

First, the initial results support the view that gold mineralisation continues at depth at Duchess of York, with the system now interpreted to be broader and flatter than previously modelled. The 22 metres at 1.80 g/t gold in MM26RC0024 is the clearest example of that to date.

Second, the market has only seen a small portion of the full assay dataset. With roughly 81% of submitted samples still pending, the current announcement does not yet provide a complete view of the 2026 RC program.

Third, the company is advancing multiple workstreams at once across Mt Monger. Drilling, drone magnetics, gravity interpretation, geochemistry, planned aircore drilling and follow-up work at Gladiator all point to an active exploration period ahead.

Taken together, the report positions Duchess of York as the current focal point, whilst leaving room for additional news from the broader Mt Monger project over the near term.

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