Inaugural Drilling At The Florence Hill Exploration Target

VANCOUVER - Elevation Gold Mining Corp. has secured a diamond core drill rig and expects to commence drilling at its Florence Hill exploration target in mid-June 2022.  The Florence Hill target is located approximately 4.5 kilometers to the southeast of the Moss Mine.

The exploration drilling program will include approximately 3,800 meters of oriented diamond core drilling focused primarily on the Florence Hill exploration target.  Additional drill testing of the nearby fault-hosted Silver Creek Springs and West Oatman epithermal vein exploration targets may be conducted as part of this program, depending on information and results obtained from the main Florence Hill exploration target drilling.

Michael G. Allen, President, said, "We are excited to be the first company to drill test the Florence Hill exploration target, especially considering its location between the historic Oatman District, from which over two million ounces of high-grade gold were produced, and the currently producing Moss vein system.  Our evaluation of the target has led us to believe that there is the potential for a significant new gold discovery."

Warwick S. Board, Vice President, Exploration, commented, "There are multiple different geological, geochemical, structural, geophysical, geographical, and alteration features coincident in the Florence Hill exploration target area.  Our thesis is that the Florence Hill exploration target represents the upper steam-heated parts of a structurally controlled low- to intermediate sulphidation epithermal system that was superimposed on intermediate to felsic composition lava dome host rocks at the junction between the Silver Creek caldera margin and Walker Lane structures.  Given the size of the alteration anomaly in the Florence Hill-Grapevine area and its coincidence with a major structural intersection, the possibility exists that the Moss and Oatman District low sulphidation epithermal vein systems were driven by a heat source located beneath Florence Hill.  Geological similarities to the El Penon Mine operated by Yamana Gold in Chile and the recently discovered AngloGold Ashanti Silicon deposit in Nevada are being used to guide our exploration efforts at Florence Hill.  Three other target areas along the caldera margin exhibiting similar size and geological features to Florence Hill are currently being evaluated."