VANCOUVER, British Columbia, Feb. 26, 2019 (GLOBE NEWSWIRE) -- Evrim Resources Corp. (TSX.V:EVM) (the "Company" or “Evrim”) is pleased to provide an update on the progress of First Majestic Silver Corp.’s (“First Majestic”) Ermitaño project that is subject to a 2% Net Smelter Royalty (“NSR”) in favour of Evrim. The Ermitaño project is approximately four kilometres south of First Majestic’s operating Santa Elena Mine in the Rio Sonora Valley in Sonora, Mexico.
“We congratulate First Majestic on its exploration success and are extremely pleased with the progress being made on the Ermitaño project,” commented Paddy Nicol, President and CEO of Evrim. “Ermitaño has the potential to add resources and mine life to the Santa Elena Mine, and increase its profitability. Mineralization occurs in two steeply dipping, low sulphidation epithermal veins called Ermitaño and Ermitaño Splay. The bulk of the 3.365 million tonne inferred resource containing of 3.99 g/t gold and 68 g/t silver disclosed by First Majestic on March 29, 2018 is hosted in the Ermitaño Splay structure. According to First Majestic, the 2018 drill program was designed to increase the confidence level and size of the existing inferred resource and the 2019 drill program will investigate the feasibility of open-pit extraction at shallower depths. The progress with permitting is encouraging and we look forward to seeing the results from the planned 16,000 metres of drilling in 2019.”
First Majestic reported the following drill result highlights on February 25, 2019:
Drill Hole 18-35 – 30.1 metres grading 3.0 grams per tonnes (“g/t”) gold and 53 g/t silver
Drill Hole 18-36 – 11.2 metres grading 11.1 g/t gold and 128 g/t silver
Drill Hole 18-39 – 17.6 metres grading 6.3 g/t gold and 149 g/t silver
Drill Hole 18-47 – 28.3 metres grading 3.9 g/t gold and 95 g/t silver
The entirety of the drill results can be viewed on First Majestic’s SEDAR page at www.sedar.com.
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.
The Company notes it is relying on First Majestic’s technical disclosure of February 25, 2019.
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 Board
EVRIM RESOURCES CORP.
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 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.