Evrim Resources Corp. (TSX-V:EVM) ("Evrim" or the "Company") and
exploration partner SilverCrest Mines Inc. (TSX:SVL)
("SilverCrest") are pleased to announce initial results of nine
drill holes on the Company's Ermitaño project in Sonora, Mexico.
The 2,656 metre drill program successfully identified the presence
of near surface gold and silver mineralization at the El Durazno
target.
Evrim President and CEO Paddy Nicol commented, "SilverCrest's
objective is to find additional gold-silver resources for the Santa
Elena Mine, approximately eight kilometres west of the El Durazno
target. Given El Durazno's proximity to the mine and leach pad
capacity, the economic threshold for additional discoveries could
be quite low. The El Durazno target is the first in a series of
prospective areas that will be explored in this developing regional
trend. SilverCrest's exploration budget in 2015 for the Ermitaño
and adjacent Cumobabi projects is approximately is US$2.3 million
and will consist of approximately 6,000 metres of drilling."
Exploration Highlights
The Ermitaño project (see attached Figure 1) is located within
the same trend of mineralization that is currently being mined at
SilverCrest's Santa Elena mine and comprises an estimated 16,526
hectares. The defined corridor is approximately 10 kilometres by 20
kilometres along a NW-SE trend. The concessions contain Late
Cretaceous andesite and rhyolite volcanic rocks which host the vein
structures controlling the Santa Elena low sulphidation epithermal
mineralization. An exploration program completed in 2014 has tested
widespread epithermal mineralization in four defined main targets
outlined below:
El Durazno
The El Durazno target comprises two parallel east-west trending
corridors of veining and stockwork mineralization with thickness
ranging from 4 metres to 50 metres for a defined cumulative strike
length of approximately 900 metres. The first corridor (see
attached Figure 2) is defined by outcropping of veins and stockwork
in an area of 400 metres along strike and 50 metres wide with a
total of 86 surface channel samples averaging 1.28g/t gold. The
second corridor is defined by outcropping of vein and stockwork in
an area of 500 metres along strike and 50 metres wide with 129
surface channel samples averaging 0.34g/t gold. Surface channel
samples in the two corridors range from 0.4 metres to 2.0 metres in
width and average 1.50 metres in width. Evidence based on
epithermal textures and more detailed mineralogical studies suggest
a shallower level exposure in a low sulphidation epithermal
environment compared to Santa Elena. The interpreted shallow level
of exposure presents an excellent opportunity to discover
additional mineralization at depth.
Ermitaño West
Ermitaño West contains a network of low sulphidation east–west
trending epithermal veins and stockwork within an area of 1,200
metres long and 600 metres wide with 546 surface channel samples
averaging 0.17g/t gold over widths ranging from 0.3 metres to 2.0
metres and averaging 1.3 metres. Vein textures suggest a shallower
level of exposure in the low sulphidation epithermal environment
compared to Santa Elena.
Ermitaño East
Ermitano East is an east–west trending galena-bearing silver
vein system with indications of two different levels of epithermal
exposure (deep and shallow). Surface sampling returned significant
silver grades with 554 channel samples with an average width of
1.60 metres and an average grade of 14 g/t silver, including 6
samples that exceeded 300 g/t silver.
Veta Valentina
Veta Valentina hosts a 1.2 kilometre long and 10 metre wide
east-west trending structural corridor with low sulphidation
epithermal veining.
Drill Results
Significant assay results from the drilling program at El
Durazno are shown below. Widths are considered near-true thickness.
Holes ED-14-002 and 004 had no significant values. All sample
analyses were completed by Inspectorate Labs of Reno,
Nevada.
|
|
|
|
|
|
Hole ID |
From (m) |
To (m) |
Interval (m) |
Gold g/t |
Silver g/t |
ED-14-001 |
131.0 |
132.6 |
1.6 |
0.27 |
3.9 |
ED-14-003 |
116.5 |
118.0 |
1.5 |
0.21 |
1.3 |
ED-14-005 |
40.5 |
60.0 |
19.5 |
0.61 |
4.1 |
Including |
46.1 |
60.0 |
13.9 |
0.72 |
4.3 |
Including |
54.0 |
57.0 |
3.0 |
1.17 |
7.1 |
|
76.5 |
78.0 |
1.5 |
0.21 |
1.7 |
|
85.5 |
93.5 |
8.0 |
0.21 |
1.1 |
|
163.5 |
169.0 |
5.5 |
0.36 |
1.3 |
|
165.0 |
169.0 |
4.0 |
0.42 |
0.75 |
|
185.0 |
198.0 |
13.0 |
0.86 |
14.1 |
Including |
193.4 |
198.0 |
4.6 |
2.10 |
35.5 |
|
263.1 |
265.3 |
2.2 |
0.25 |
7.6 |
ED-14-006 |
74.4 |
95.3 |
21.0 |
0.21 |
3.0 |
Including |
90.3 |
95.3 |
5.0 |
0.36 |
6.8 |
|
144.3 |
146.3 |
2.0 |
0.38 |
1.9 |
ED-14-007 |
69.0 |
72.0 |
3.0 |
0.24 |
1.6 |
ED-14-008 |
53.0 |
54.2 |
1.2 |
0.22 |
3.4 |
|
175.0 |
191.7 |
16.7 |
0.42 |
13.2 |
Including |
189.2 |
191.7 |
2.5 |
1.58 |
58.8 |
ED-14-009 |
65.0 |
90.0 |
25.0 |
0.59 |
2.5 |
Including |
65.0 |
70.0 |
5.0 |
1.00 |
1.9 |
Including |
82.3 |
90.0 |
7.7 |
1.11 |
4.2 |
All figures are available in the News Release posted on the
Company web page www.evrimresources.com.
Option Agreements
SilverCrest can earn a 100% interest in the Ermitaño Property by
paying US$75,000 upon signing the Agreement (paid) and US$50,000
each anniversary thereafter, completing a minimum of US$500,000 in
exploration expenditures in the first year, and delivering a
Production Notice specifying mine and construction plans with
accompanying permits. Upon vesting, SilverCrest will no longer be
required to make the annual payments and Evrim will retain a 2% Net
Smelter Royalty ("NSR").
SilverCrest can also earn a 100% interest in Cumobabi by paying
US$75,000 upon signing the Agreement (paid) and US$50,000 each
anniversary thereafter, completing a minimum of US$500,000 in
exploration expenditures by the second anniversary, and delivering
a Production Notice specifying mine and construction plans with
accompanying permits. Upon vesting, SilverCrest will no longer be
required to make the annual payments and Evrim will retain a 1.5%
NSR.
Qualified Person Statement
Evrim's disclosure of technical or scientific information in
this press release has been reviewed and approved by Stewart
Harris, P.Geo. Vice President, Technical Services for the Company.
Mr. Harris serves as a Qualified Person under the definition of
National Instrument 43-101.
About Evrim Resources
Evrim Resources is a mineral exploration company whose goal is
to participate in significant exploration discoveries supported by
a sustainable business model. The Company is well financed,
has a diverse range of quality projects and a database in Mexico
and portions of southwestern United States. The existing projects,
and generation of quality exploration targets and ideas, are
advanced through option and joint venture agreements with industry
partners to create shareholder value. Evrim's business plan
also includes royalty creation utilizing the Company's exploration
expertise and existing projects.
On Behalf of the Board EVRIM RESOURCES
CORP.
Paddy Nicol President & CEO
To find out more about Evrim Resources Corp., please contact
Paddy Nicol, President or Howard Davies, COO at 604-248-8648, or
visit www.evrimresources.com.
Forward Looking Information
This news release includes certain statements that may be deemed
"forward looking statements". All statements in this news release,
other than statements of historical facts, that address events or
developments that Evrim Resources Corp. (the "Company") expects to
occur, are forward looking statements. Forward looking statements
are statements that are not historical facts and are generally, but
not always, identified by the words "expects", "plans",
"anticipates", "believes", "intends", "estimates", "projects",
"potential" and similar expressions, or that events or conditions
"will", "would", "may", "could" or "should" occur.
Although the Company believes the expectations expressed in such
forward looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance and actual
results may differ materially from those in the forward looking
statements. Factors that could cause the actual results to differ
materially from those in forward looking statements include market
prices, exploitation and exploration successes, and continued
availability of capital and financing, and general economic, market
or business conditions. Investors are cautioned that any such
statements are not guarantees of future performance and actual
results or developments may differ materially from those projected
in the forward looking statements. Forward looking statements are
based on the beliefs, estimates and opinions of the Company's
management on the date the statements are made. Except as required
by securities laws, the Company undertakes no obligation to update
these forward looking statements in the event that management's
beliefs, estimates or opinions, or other factors, should
change.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
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