Evrim Receives Permit and Mobilizes Drill Crews to Cuale High Sulphidation Gold Project
VANCOUVER, British Columbia, Oct. 09, 2018 (GLOBE NEWSWIRE) -- Evrim Resources Corp. (TSX.V:EVM) (“Evrim” or the “Company”) is pleased to announce that the permit to conduct drilling at the Cuale high sulphidation epithermal gold project in Jalisco, Mexico has been received and crews are on site to commence the program. Evrim has planned a minimum 3,000 metre diamond drilling program comprising between 10 to 15 drill holes.
Stewart Harris, VP of Technical Services commented, “The first drill holes at Cuale are planned at La Gloria to test the depth extent of the high grade gold mineralization encountered in trenches 1 and 4, followed by other high priority drill targets throughout the trenched area. Drilling is also planned at four step-out areas to test geophysical targets within the anomalous gold in soil geochemical and rock chip halo, including the North Dome which extends up to 1,000 metres north of the trenched area. This drilling program represents a significant milestone for Evrim and a unique opportunity for our shareholders.”
La Gloria and step-out drill targets
Seven holes are planned within the extent of surface trenching at La Gloria (Figure 1). The first two holes (denoted CUA-A and CUA-B in Figures 1 and 2) will be drilled beneath trench 1, which returned 193.5 metres grading 2.09 grams per tonne (“g/t”) gold, and trench 4, which returned 156.2 metres grading 9.57 g/t gold. Gold mineralization at surface is associated with a brecciated and pervasively saccharoidal quartz altered tuff unit. This alteration is strongly resistive and the CSAMT geophysical survey suggests a similarly resistive zone may extend over 200 metres deep by 300 metres wide beneath the trenched area.
The first two drill holes are planned with opposing orientations to test for structural controls and to select a preferred orientation for additional drilling in the trenched area.
Four additional step-out holes are planned to test prospective alteration, moderate to strong gold anomalies and resistive highs within the Wifi Zone, Hematite-Silica Breccia Zone (immediately north of the trenched area) and the North Dome.
About the Cuale Property
The Cuale project is 100%-owned by Evrim and comprised of a 232 square kilometre property prospective for high sulphidation epithermal gold mineralization. The project is located 185 kilometres west of Guadalajara and 35 kilometres southeast of Puerto Vallarta in the Cordillera Madre del Sur.
Regionally, the project is located within the Talpa de Allende area of Jalisco near Agnico Eagle Mines' Barqueño project (645,000 ounces gold and 38 million ounces silver) and Endeavour Silver's Terronera project (436,000 ounces gold and 42 million ounces silver). The area is close to infrastructure with roads and powerlines crossing the property.
Cuale is subject to a 1.5% net smelter royalty ("NSR") for precious metals and a 1.0% NSR for base metals payable to Altius Minerals.
Photos accompanying this announcement are available at
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. Readers are cautioned that rock chip, grab and channel samples are selected samples and are not necessarily representative of the mineralization hosted on the property.
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 covering substantial areas of Mexico and portions of southwestern United States. The Company’s projects 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 Charles Funk, VP New Opportunities and Exploration at 604-248-8648, or Donna Yoshimatsu at 416-722-2456.
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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.
