Evrim Resources Corp. (TSX.V:EVM) (“Evrim” or the “Company”) is
pleased to announce drill results at the Cerro Cascaron gold and
silver project in southwestern Chihuahua, Mexico. Evrim and
exploration partner, Harvest Gold Corporation (“Harvest Gold”), has
completed nine diamond drill holes to date at Serpiente Dorada, San
Pedro and Cascarita for a total of 1,885 metres, with assay results
received for seven drill holes.
“The maiden drill program at Cerro Cascaron
successfully intersected gold mineralization at both the Serpiente
Dorada and San Pedro areas,” commented Stewart Harris, VP of
Technical Services. Drilling at Serpiente Dorada delineated a
significant corridor of alteration containing local high-grade gold
mineralization. Meanwhile, drilling at San Pedro encountered a
competent quartz vein within a broad stockwork containing moderate
gold grades and epithermal textures, suggesting a deeper target may
exist. Drilling continues to test both areas for additional gold
mineralization.
Drill Program Highlights
Serpiente Dorada
- Drill hole SPT18-01 intersected 1.0 metre grading 20.1 grams
per tonne (g/t) gold and 22.5 g/t silver from 225.5 metres downhole
within 6.5 metres grading 3.29 g/t gold and 6.3 g/t silver from
224.5 metres
San Pedro
- SPED19-02 intersected 4.8 metres grading 1.02 g/t gold and 13.0
g/t silver from 141 metres downhole and 0.35 metres grading 5.39
g/t gold and 23.7 g/t silver from 154.45 metres downhole
- SPED19-03 intersected a 2.7 metre wide quartz vein from 162.6
metres downhole. Assays are pending
The true width of the mineralized zones are not
known at this stage.
About the Cerro Cascaron Drill
Program
Nine drill holes have been completed to date
with two holes at the Serpiente Dorada, three holes at San Pedro
gold targets, and four at the silver-rich Cascarita target. Assay
results remain pending from drilling at the Serpiente Dorada and
San Pedro areas, with new drilling planned at San Pedro.
Figure 1 – Map of the Cascaron vienfield with Serpiente
Dorada and San Pedro drilling shown is available
at http://www.globenewswire.com/NewsRoom/AttachmentNg/43014883-eab7-40cd-99da-be19545378d1
Serpiente Dorada
Drill hole SPT18-01 targeted the Serpiente
Dorada vein approximately 100 metres below surface. The hole
drilled into a sequence of rhyolitic and andesitic volcanic rocks
with overprinting hydrothermal breccias. A wide zone of
silicification and quartz stockwork veining exploits the margins of
the breccias in the lower half of drill hole SPR18-01 and hosts
many narrow low-grade mineralized intersections including the
highlighted 1.0 metre grading 20.1 g/t gold and 22.5 g/t silver
from 225.5 metres downhole. The true width of the zone of
silicification and stockwork quartz veining is not known.
The intersection encountered in SPT18-01 may be
a new structure or a splay of the outcropping Serpiente Dorada
structure. A zone of elevated pathfinder element geochemistry
exists at the base of the hole that corresponds with the projection
of the surface expression of the Serpiente Dorada structure. A
follow-up drill hole has been designed to target this zone of
mineralization approximately 180 metres to the north where the
northeast-trending La Julieta vein is interpreted to intersect the
Serpiente Dorada structure.
Figure 2a – Cross section of drillhole at
Serpiente Dorada (A-A’) and Figure 2b – Cross section of drilling
at San Pedro (B-B’) is available
at http://www.globenewswire.com/NewsRoom/AttachmentNg/046a72db-a3ed-4aff-989c-86f2382be8fb
San Pedro
Drilling at San Pedro has intersected a quartz
vein beneath the shallow historic workings hosted in rhyolitic tuff
and andesite. Drill hole SPED19-02 intersected a 1.8 metre wide
quartz vein within an approximate 20 metre stockwork zone. The zone
includes 4.8 metres grading 1.05 g/t gold and 15.8 g/t silver from
141 metres downhole with a slightly deeper narrow vein returning
0.35 metres grading 5.39 g/t gold and 23.7 g/t silver from 154.45
metres downhole. The true width of the structures are not known at
this stage. Follow-up drill hole SPED19-03, intersected a 2.7 metre
wide vein from 162.6 metres within a broader 33.5 metre surrounding
stockwork zone. Assays results remain pending for drill hole
SPED19-03.
The vein intersected in holes SPED19-02 and
SPED19-03 contains banded chalcedonic quartz and calcite with
quartz-healed breccia channels indicative of multiple phases of
vein formation. The textures suggest a level near to, but above a
boiling zone (where the best mineralization is to be expected) and
subsequently, a fourth hole at San Pedro is planned to target a
potential mineralized shoot with better mineralization
approximately 100 metres deeper than hole SPED19-03.
In drill hole SPED18-01 located 72 metres to the
north, the zone consists of a zone of minor calcite and quartz
veinlets with strong pathfinder element geochemistry but only
anomalous gold values.
Cascarita
Three drill holes at Cascarita intersected a
predominately rhyolitic tuff sequence with zones of silicification
and veining throughout each hole. Veinlets are predominantly
crystalline quartz with rare colloform quartz and no significant
results were intersected. The zones of sulphide breccia with high
silver grades at surface were not intersected in drilling.
Drill Hole Information Table
Hole |
Easting(m) |
Northing (m) |
Elevation(m) |
Azimuth(o) |
Dip(o) |
Hole Depth(m) |
SPED18-01 |
246,222 |
2,949,475 |
1,883 |
276 |
-45 |
201.0 |
SPED19-02 |
246,222 |
2,949,475 |
1,883 |
220 |
-55 |
219.0 |
SPED19-03 |
246,222 |
2,949,475 |
1,883 |
220 |
-68 |
216.0 |
SPT18-01 |
248,404 |
2,947,705 |
1,677 |
270 |
-64 |
320.0 |
SPT19-02 |
248,370 |
2,947,880 |
1,733 |
270 |
-55 |
270.0 |
CAS18-01 |
240,533 |
2,947,389 |
1,360 |
060 |
-45 |
209.7 |
CAS18-02B |
240,557 |
2,947,296 |
1,301 |
070 |
-45 |
201.0 |
CAS18-03 |
240,361 |
2,947,455 |
1,405 |
040 |
-60 |
200.0 |
About the Cerro Cascaron
Project
The Cerro Cascaron property hosts a low to
intermediate sulphidation epithermal gold system that includes a
gold-bearing vein in the eastern part of the property. Veining has
been mapped over 900 vertical metres, with classic textural
evidence of hydrothermal boiling accompanying the highest gold
grades. The proposed boiling zone has been established in the upper
380 metres of the vein field. Beneath the boiling zones, silver and
base metal rich veins and breccias provide additional exploration
targets.
Cerro Cascaron's setting and mineralization are
similar to many epithermal deposits in the Sierra Madre Occidental,
including Minera Frisco SAB's Ocampo Mine to the northwest, Coeur
Mining Inc.’s Palmarejo mine, and First Majestic Silver's San
Martin de Bolanos silver mine.
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.
Core samples were delivered to ALS Global in
Hermosillo, Sonora for sample preparation and to the ALS laboratory
in North Vancouver for analysis. The Hermosillo and North Vancouver
facilities have ISO/IEC 17025:2017 certification. Field duplicate
samples, blank samples and certified reference materials were
inserted into the sample sequence each at a frequency of one per 20
samples. Samples were assayed for gold by 30 gram fire assay and
multi-element analysis by four-acid and ICP analysis.
About Evrim Resources
Evrim is a precious and base metals project
generator, with early stage exploration projects and a database
covering substantial areas of Mexico, western Canada and portions
of southwestern United States. We focus our expertise on
identifying new early stage exploration targets which are later
advanced through option and joint venture agreements with industry
partners to create shareholder value and avoid stock dilution.
Evrim’s business plan also includes royalty creation utilizing the
Company’s exploration expertise and existing projects.
On Behalf of the BoardEVRIM RESOURCES
CORP.
Paddy NicolPresident & CEO
To find out more about Evrim Resources Corp.,
please contact Paddy Nicol, President, or Charles Funk, VP New
Opportunities and Exploration at 604-248-8648, or Liliana Wong,
Investor Relation Manager at 778-929-3382.
Visit our website at 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.
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