VANCOUVER, British Columbia, March 19, 2019 (GLOBE NEWSWIRE) -- Evrim Resources Corp. (TSX.V:EVM) (“Evrim” or the “Company”) is pleased to announce final drill results at the Cerro Cascaron gold and silver project in southwestern Chihuahua, Mexico. Evrim and exploration partner, Harvest Gold Corporation (“Harvest Gold”), have completed a total of ten diamond drill holes at Serpiente Dorada, San Pedro and Cascarita for a total of 2,255 metres. The assay results included in this release follow up on the announcement made in February 14, 2019.
“The maiden drill program at Cerro Cascaron demonstrates significant potential to discover a low to intermediate sulphidation epithermal gold deposit, specifically at the Serpiente Dorada and San Pedro areas,” commented Stewart Harris, VP of Technical Services. “Drilling at Serpiente Dorada delineated a significant structural corridor containing local high-grade gold mineralization. Well-developed quartz fissure veins within a broad stockwork containing moderate gold grades and epithermal textures exists at San Pedro, and drilling has aided in vectoring toward a deeper and possibly higher grade gold target. Additional drilling is needed to follow up both areas and for exploration of several untested targets.”
Drill Program Highlights
- Drill hole SPT18-01 intersected 1.0 metre grading 20.10 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 (previously reported February 14, 2019)
- Drill hole SPT19-02 intersected 11.5 metres grading 0.48 g/t gold and 3.9 g/t silver from 119.5 metres downhole and 1 metre grading 1.57 g/t gold and 1.2 g/t silver from 219 metres
- 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 (previously reported February 14, 2019)
- SPED19-03 intersected 2.4 metres grading 0.98 g/t gold and 36.6 g/t silver from 162.5 metres downhole.
About the Cerro Cascaron Drill Program
Ten drill holes have been completed with two holes at the Serpiente Dorada, four holes at San Pedro gold targets, and four at the silver-rich Cascarita target.
Figure 1 – Map of the Cascaron vein field with Serpiente Dorada and San Pedro drilling shown is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/c33c2cce-bc28-43a3-95ad-79e9b5a17b81
Drill hole SPT19-02 targeted the intersection of the north-trending Serpiente Dorada and northeast-trending La Julieta structures approximately 180 metres north of SPT18-01. The hole drilled into a sequence of rhyolitic and andesitic volcanic rocks with crosscutting hydrothermal breccias; a similar setting as hole SPT18-01. A zone of pervasive silicification and quartz veining hosts a broad zone of low-grade gold mineralization from 119.5 metres depth and a narrow zone of strong quartz veining hosts the intersection from 219.0 metres. The true widths of the zone of silicification and strong quartz veining are not known.
Drill holes SPT18-01 and SPT19-02 intersected the Serpiente Dorada structure over a strike length of approximately 180 metres and also delineated a new structure or splay off the Serpiente Dorada structure. Mineralization intersected in these holes comprises quartz veining and silicification where the Serpiente Dorada structure intersects interpreted hydrothermal breccias and a contact between andesitic and rhyolitic volcanic rocks, and presents a structural setting for additional drilling.
Figure 2a – Cross section of drill hole 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/ed6c4187-10a7-4f37-81f2-c413045945f0
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 the quartz vein approximately 110 metres beneath the workings at the contact between andesite and rhyolite and returned 4.8 metres grading 1.02 g/t gold and a separate higher grade interval of 5.39 g/t gold over 0.35 metres. Drill hole SPED19-03 intersected the San Pedro vein approximately 40 metres beneath the vein in SPED19-02 and returned 2.4 metres grading 0.98 g/t gold from 162.5 metres downhole. Both SPED19-02 and SPED19-03 intersected the banded San Pedro quartz vein and the vein intersected in hole SPED19-03 also contained multi-episodal chalcedonic quartz and quartz breccias. The textures observed in holes SPED19-02 and SPED19-03 suggested that the vein in these holes is above the boiling zone where the best mineralization is expected. Hole SPED19-04 was drilled to intersect the San Pedro Vein about 70 metres downdip from the vein in SPED19-03 and intersected a zone of pervasive silicification and quartz veinlets with anomalous gold and pathfinder elements. Additional drilling is recommended to test deeper targets along strike within the system.
Figure 3 – “San Pedro vein intersected in SPED19-03” is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/cca314d2-3fda-4a9a-9413-24a66146ddc6
Significant Intersection Table
|SPED18-01||No significant assays|
|SPED19-04||No significant assays|
All intervals given for mineralized intervals are core lengths. The true widths of the intersections are not known.
Drill Hole Information Table
- Hole was lost
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 Bolaños 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 Board
EVRIM RESOURCES CORP.
President & CEO
To find out more about Evrim Resources Corp., please contact Paddy Nicol, President, 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.
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