Vancouver B.C. – July 23, 2019: Evrim Resources Corp. (TSX.V: EVM) (“Evrim” or the “Company”) announces drill results from the 2019 maiden drilling program at the Sarape project in Sonora, Mexico. At the completion of the program, the Company’s exploration partner, a subsidiary of Coeur Mining, Inc. (“Coeur”), relinquished their option on the project.
“Evrim and Coeur completed a ten hole maiden drill program at the Sarape project testing for blind mineralization along the Sarape, La Nube, and Chiltepin veins. The drill program intersected a fissure vein up to 23.6 metres wide on the Sarape vein with consistent low-level gold and silver values. To date, only 380 metres of the six kilometre strike length of the Sarape vein has been tested.”, commented Evrim VP of Technical Services, Stewart Harris. “We would like to thank Coeur for their contribution to the project and will seek a new partner to undertake further drilling.”
Sarape Drilling Program
Ten holes totaling 2,930 metres were completed – nine holes on the Sarape vein and one hole on the Chiltepin vein. Hole SAR-01 was drilled from the footwall side of the Sarape vein to test both the La Nube vein and the lower levels of the Sarape vein. The hole intersected the La Nube vein but failed to intersect the Sarape vein. Holes SAR19‐02 through SAR19‐09 were drilled from the hanging wall side of the Sarape vein and each intersected the vein. These nine holes tested the Sarape vein along 380 metres of strike length and to a maximum of 450 metres down‐dip. Hole CHI19-01 tested the eastern extremity of the Chiltepin vein and returned no significant results. True widths of the vein intersections are interpreted to be 50% to 80% of the intervals reported:
Table 1: Significant Intersections from the 2019 drilling program.
The Sarape vein has a complex, multi-episodic emplacement history with two phases of quartz (white and yellow/green) and two phases of carbonate (grey and white). Gold and silver mineralization is associated with both quartz phases and is best developed between 100 and 350 metres below surface where the vein dilates into a wide fissure vein before it narrows at depth.
Vein textures, gold-silver values, pathfinder elements and vein dilation indicate a prospective boiling horizon between 100 and 350 metres below surface in the drilled area. Holes SAR19-04 and SAR19-06 contain the best developed banded quartz-carbonate textures with rare quartz pseudomorphs of bladed calcite. Only three holes are interpreted to have tested this target level over a strike length of 150 metres. The balance of the six kilometre Sarape vein, including areas of anomalous pathfinder geochemistry, vein splays and flexures, remains untested. Evrim will refine these targets and seek a partner to undertake initial drill tests.
Figure 1: Sarape Drill Map
About the Sarape Project
The 5,349 hectare Sarape epithermal gold-silver project is located near excellent infrastructure with road and power access (Figure 1). The project consists of the Sarape Vein, a six kilometre long vein measuring up to 12 metres wide on surface, and the Chiltepin Vein, a 2.6 kilometre long vein measuring up to three metres wide on surface.
Figure 2 – Location of Sarape epithermal project
Work completed in 2018 included detailed mapping of the veins and surrounding area, sampling, and an airborne magnetic and radiometric survey. Systematic channel sampling has shown that the western portion of both veins contains barren white quartz and calcite that are interpreted to be a late, shallow part of the system. The eastern portion of the Sarape vein includes a separate phase of low-temperature, tan green quartz that grades from 0.10 to 3.63 g/t gold and individual samples at the Chiltepin vein assay from trace to 3.66 g/t gold.
Qualified Person Statement
Evrim's disclosure of technical and 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.
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.
The rock samples taken in 2018 program are selected samples and may not be representative of the mineralization hosted on the property. A total of 485 rock samples have been collected from surface on the property and 89 samples exceeded 0.1 g/t gold.
About Evrim Resources
Evrim is a precious and base metals mineral exploration company, 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 Board
EVRIM RESOURCES CORP.
President & CEO
To find out more about Evrim Resources Corp., please contact Paddy Nicol, President, or Liliana Wong, Investor Relations 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.