# EG1: EG1 to Acq Historic High-Grade Rabbit Warren Gold Discovery Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/eg1-eg1-to-acq-historic-high-grade-rabbit-warren-gold-discovery--8a6ef9f8-4754-46fd-832b-1a14fba31252 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03154948 Publisher: asx Original announcement: 2026-10-20T21:33:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-20T22:23:52.486Z Atlas analysis updated: 2026-10-20T22:23:52.486Z - Company: Evergold Minerals Limited - Ticker: EG1 - Exchange: ASX - Region: Western Australia - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Agreement transaction, Drill results, Capital raise - Extracted: 2026-10-20 22:23:53 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Evergold Minerals Limited has entered a binding agreement to acquire 100% of the Rabbit Warren Tenements, which include the historic 1980 Rabbit Warren gold discovery in Western Australia. The acquisition, valued at $50,000 cash and $150,000 in shares, provides access to a project with historical high-grade gold intercepts, including 3m at 23 g/t Au from 33m \(DDH3\), which has not seen modern exploration. The company plans to conduct mapping, geophysics, and RC drilling in 2027 to test the extensions of the known mineralization. Reasoning: Evergold Minerals is acquiring the Rabbit Warren Tenements, which host a historic high-grade gold discovery with significant historical intercepts. The acquisition is low-cost and opens up a project with untested potential, though all reported results are historical and require modern validation. - Positive factor: Acquisition of a project with historical high-grade gold intercepts - Positive factor: Low acquisition cost \($50,000 cash and $150,000 in shares\) - Positive factor: Historical bonanza-grade intercept of 1m @ 47.8 g/t Au - Positive factor: Untested extensions along strike and at depth identified - Positive factor: Competent Person has reviewed and compiled the historical data - Negative factor: All reported drill results are historical and require modern verification - Negative factor: No true widths are known for historical intercepts - Negative factor: QA/QC protocols for historical drilling are not fully reported or independently verified - Negative factor: Historical diamond drill hole collars are on a local grid and not field-located or converted to modern coordinates - Negative factor: No modern exploration or drilling has been conducted on the key high-grade position in over 40 years Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 8 ## Classification and evidence **Acquisition** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: Evergold has executed a binding agreement to acquire 100% of the Rabbit Warren Tenements. Evidence · text > Evergold has executed a binding agreement to acquire 100% of the Rabbit Warren Tenements **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: The document reports historical drill results from 1982 and 1995, explicitly stating they are from previous explorers and have not been independently verified by Evergold. Evidence · text > Historical diamond drilling beneath the discovery pit in 1982 intersected high-grade gold **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: The JORC Table 1 states that 'Use of certified standards and blanks is not reported for the historical programs' for the 1982 diamond drilling. Evidence · text > Use of certified standards and blanks is not reported for the historical programs. **Apparent Width Only** Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Why it applies: The document explicitly states that 'Downhole lengths are reported; true widths are not known' for all historical intercepts. Evidence · text > Downhole lengths are reported; true widths are not known. **QP/CP Signed** Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: The information in the announcement, including the historical exploration results, is compiled by Glenn Grayson, a Member of the AusIMM, who qualifies as a Competent Person. Evidence · text > The information in this announcement that relates to Exploration Results is based on, and fairly represents, information compiled by Glenn Grayson, who is a Member of the Australasian Institute of Mining and Metallurgy \(AusIMM\). **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: The Rabbit Warren North results are presented with the interpretation that 'the interpreted mineralised trend appears to project into the Rabbit Warren Tenements, however this has not been tested by drilling'. Evidence · text > the interpreted mineralised trend appears to project into the Rabbit Warren Tenements, however this has not been tested by drilling. **Bonanza Intercept** Polarity: positive Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: The intercept of 1m @ 47.8 g/t Au significantly exceeds the exceptional threshold of 5 g/t for gold. Evidence · text > 1m @ 47.8 g/t Au ## Extracted facts Stored fact records: 6. Some facts used in scoring do not have a stored record. ## Drill Results (6) ### DDH3 [Link to this fact](https://atlas-staging.minestarters.com/news/eg1-eg1-to-acq-historic-high-grade-rabbit-warren-gold-discovery--8a6ef9f8-4754-46fd-832b-1a14fba31252#fact-drill-facts-2) Rabbit Warren North · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: DDH3 - Project: Rabbit Warren North - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: EG1 #### Geometry - Grade: 23 - Grade Unit: g/t - Intercept: 3 m - From: 33 m - To: 36 m - Hole Depth: 50 m - Intercept Depth: 33 m #### Classification - Program: exploration - Sample Type: drill - Group ID: DDH3:33-36 #### Location - Location: Rabbit Warren pit - Easting: 10079 - Northing: 49755 - Loc. Confidence: high - Loc. Source: document #### QA/QC - Laboratory: Pilbara Laboratories - QA/QC Disclosed: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks #### Deleterious - Deleterious Flag: No #### Metal Equivalent - Assumptions Disclosed: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 1982-01-01T00:00:00.000Z #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: A historical high-grade gold intercept from 1982, indicating significant mineralization, but its age and lack of modern QA/QC and true width information reduce confidence. - Positive factor: High-grade gold intercept \(23 g/t Au exceeds exceptional threshold of 5 g/t\) - Positive factor: QP has reviewed the historical data - Negative factor: Result is historical \(1982\) - Negative factor: No true width reported - Negative factor: QA/QC details not fully reported for historical work - Negative factor: Collar coordinates on local grid, not field-located Evidence · table > 23.0 Context: 3 #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### DDH3 [Link to this fact](https://atlas-staging.minestarters.com/news/eg1-eg1-to-acq-historic-high-grade-rabbit-warren-gold-discovery--8a6ef9f8-4754-46fd-832b-1a14fba31252#fact-drill-facts-3) Rabbit Warren North · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: DDH3 - Project: Rabbit Warren North - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: EG1 #### Geometry - Grade: 47.8 - Grade Unit: g/t - Intercept: 1 m - From: 33 m - To: 34 m - Hole Depth: 50 m - Intercept Depth: 33 m #### Classification - Program: exploration - Sample Type: drill - Group ID: DDH3:33-34 #### Location - Location: Rabbit Warren pit - Easting: 10079 - Northing: 49755 - Loc. Confidence: high - Loc. Source: document #### QA/QC - Laboratory: Pilbara Laboratories - QA/QC Disclosed: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks #### Deleterious - Deleterious Flag: No #### Metal Equivalent - Assumptions Disclosed: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 1982-01-01T00:00:00.000Z #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: A historical bonanza-grade gold intercept, indicating very high-grade mineralization, but its age and lack of modern QA/QC and true width information reduce confidence. - Positive factor: Bonanza-grade gold intercept \(47.8 g/t Au exceeds exceptional threshold of 5 g/t\) - Positive factor: QP has reviewed the historical data - Negative factor: Result is historical \(1982\) - Negative factor: No true width reported - Negative factor: QA/QC details not fully reported for historical work - Negative factor: Collar coordinates on local grid, not field-located Evidence · text > including 1m @ 47.8 g/t Au #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### RWR110 [Link to this fact](https://atlas-staging.minestarters.com/news/eg1-eg1-to-acq-historic-high-grade-rabbit-warren-gold-discovery--8a6ef9f8-4754-46fd-832b-1a14fba31252#fact-drill-facts-4) Rabbit Warren North · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: RWR110 - Project: Rabbit Warren North - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: EG1 #### Geometry - Grade: 1.46 - Grade Unit: g/t - Intercept: 1 m - From: 16 m - To: 17 m - Hole Depth: 18 m - Intercept Depth: 16 m #### Classification - Program: exploration - Sample Type: drill - Group ID: RWR110:16-17 #### Location - Location: Rabbit Warren North - Easting: 341439 - Northing: 6811453 - Loc. Confidence: high - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks #### Deleterious - Deleterious Flag: No #### Metal Equivalent - Assumptions Disclosed: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 1995-01-01T00:00:00.000Z #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: A historical low-grade gold intercept from RAB drilling, providing some indication of mineralization but with low confidence due to its age, drill type, and limited QA/QC. - Positive factor: Indicates gold mineralization in the Rabbit Warren North area - Positive factor: QP has reviewed the historical data - Negative factor: Result is historical \(1995\) - Negative factor: Narrow intercept length \(1m\) - Negative factor: No true width reported - Negative factor: RAB drilling \(lower confidence than diamond drilling\) - Negative factor: QA/QC details for historical work are limited Evidence · table > 1.46 Context: 1 #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### RWR122 [Link to this fact](https://atlas-staging.minestarters.com/news/eg1-eg1-to-acq-historic-high-grade-rabbit-warren-gold-discovery--8a6ef9f8-4754-46fd-832b-1a14fba31252#fact-drill-facts-5) Rabbit Warren North · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: RWR122 - Project: Rabbit Warren North - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: EG1 #### Geometry - Grade: 1.78 - Grade Unit: g/t - Intercept: 1 m - From: 10 m - To: 11 m - Hole Depth: 25 m - Intercept Depth: 10 m #### Classification - Program: exploration - Sample Type: drill - Group ID: RWR122:10-11 #### Location - Location: Rabbit Warren North - Easting: 341389 - Northing: 6811303 - Loc. Confidence: high - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks #### Deleterious - Deleterious Flag: No #### Metal Equivalent - Assumptions Disclosed: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 1995-01-01T00:00:00.000Z #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: A historical low-grade gold intercept from RAB drilling, providing some indication of mineralization but with low confidence due to its age, drill type, and limited QA/QC. - Positive factor: Indicates gold mineralization in the Rabbit Warren North area - Positive factor: QP has reviewed the historical data - Negative factor: Result is historical \(1995\) - Negative factor: Narrow intercept length \(1m\) - Negative factor: No true width reported - Negative factor: RAB drilling \(lower confidence than diamond drilling\) - Negative factor: QA/QC details for historical work are limited Evidence · table > 1.78 Context: 1 #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### RWR149 [Link to this fact](https://atlas-staging.minestarters.com/news/eg1-eg1-to-acq-historic-high-grade-rabbit-warren-gold-discovery--8a6ef9f8-4754-46fd-832b-1a14fba31252#fact-drill-facts-6) Rabbit Warren North · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: RWR149 - Project: Rabbit Warren North - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: EG1 #### Geometry - Grade: 1.91 - Grade Unit: g/t - Intercept: 2 m - From: 36 m - To: 38 m - Hole Depth: 38 m - Intercept Depth: 36 m #### Classification - Program: exploration - Sample Type: drill - Group ID: RWR149:36-38 #### Location - Location: Rabbit Warren North - Easting: 341190 - Northing: 6811503 - Loc. Confidence: high - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks #### Deleterious - Deleterious Flag: No #### Metal Equivalent - Assumptions Disclosed: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 1995-01-01T00:00:00.000Z #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: A historical low-grade gold intercept from RAB drilling, indicating mineralization that remains open, but with low confidence due to its age, drill type, and limited QA/QC. - Positive factor: Indicates gold mineralization in the Rabbit Warren North area - Positive factor: Mineralization remains open to the north - Positive factor: QP has reviewed the historical data - Negative factor: Result is historical \(1995\) - Negative factor: No true width reported - Negative factor: RAB drilling \(lower confidence than diamond drilling\) - Negative factor: QA/QC details for historical work are limited Evidence · table > 1.91 Context: 2 #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### RWR154 [Link to this fact](https://atlas-staging.minestarters.com/news/eg1-eg1-to-acq-historic-high-grade-rabbit-warren-gold-discovery--8a6ef9f8-4754-46fd-832b-1a14fba31252#fact-drill-facts-7) Rabbit Warren North · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: RWR154 - Project: Rabbit Warren North - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: EG1 #### Geometry - Grade: 2.09 - Grade Unit: g/t - Intercept: 2 m - From: 20 m - To: 22 m - Hole Depth: 24 m - Intercept Depth: 20 m #### Classification - Program: exploration - Sample Type: drill - Group ID: RWR154:20-22 #### Location - Location: Rabbit Warren North - Easting: 341339 - Northing: 6811753 - Loc. Confidence: high - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks #### Deleterious - Deleterious Flag: No #### Metal Equivalent - Assumptions Disclosed: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 1995-01-01T00:00:00.000Z #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: A historical low-grade gold intercept from RAB drilling, providing some indication of mineralization but with low confidence due to its age, drill type, and limited QA/QC. - Positive factor: Indicates gold mineralization in the Rabbit Warren North area - Positive factor: QP has reviewed the historical data - Negative factor: Result is historical \(1995\) - Negative factor: No true width reported - Negative factor: RAB drilling \(lower confidence than diamond drilling\) - Negative factor: QA/QC details for historical work are limited Evidence · table > 2.09 Context: 2 #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.