Evrim Resumes Exploration on High Grade Epithermal Vein Field at Cerro Cascaron
Vancouver, British Columbia--(Newsfile Corp. - June 8, 2016) - Evrim Resources Corp. (TSXV: EVM) (“Evrim” or the “Company”) announces exploration results and the resumption of exploration activity at the Company’s 100% owned Cerro Cascaron project in Chihuahua, Mexico. A large, zoned, and high grade gold vein field has been defined at Cerro Cascaron and the next phase of exploration is aimed at mapping the extent of the system and defining drill targets. Cerro Cascaron is a low sulphidation epithermal gold target located in the dissected volcanic terrains of the Sierra Madre Occidental in Chihuahua, approximately 55 kilometres southeast of Goldcorp Inc.’s past-producing El Sauzal gold mine.
Cerro Cascaron Exploration Highlights
- The Cerro Cascaron vein field is 4 kilometres by 2.5 kilometres and open in all directions
- The veining has been mapped over 900 vertical metres with strong textural and geochemical zonation
- The upper 380 metres contains bonanza grade vein mineralization with abundant visible gold. Rock chip samples grade from <0.005 grams per tonne (“g/t”) to 1,670 g/t gold
- The lower 520 metres are characterized by silver and base metal rich veins with rock chip samples grading from <0.5 g/t to 599 g/t silver
- Mapping has defined competent quartz veins up to 1.5 metres wide and quartz breccia veins/quartz healed faults and stockwork zones up to 25 metres wide
- Tourmaline rich breccias and veins with high grade gold values from 0.565 g/t to 39.7 g/t gold are present at the lowest elevations
“The Cerro Cascaron project is an indication that the mineral endowment in Mexico continues to produce untested high quality exploration targets,” commented Alain Charest, Evrim Resources’ Vice President Exploration for Mexico. “In six months Evrim’s exploration team has transformed Cerro Cascaron from an unexplored concession to a highly prospective low sulphidation epithermal gold target.”
About the Cerro Cascaron Project
The 69 square kilometre Cerro Cascaron project covers a historic Colonial-era mining district that contains numerous gold and gold-silver prospects. The property hosts significant veining with high gold and silver grades that has never been drilled or evaluated by modern exploration techniques.
Mapping to date has focused on the eastern part of the concession which contains multiple north-south trending veins including the Serpiente Dorada, C, P, and M Veins. These north-south trending veins are cut by east-west and northeast-southwest trending structures including the J, R and DC Veins. The upper levels of the veining occur at the contact between the Upper and Lower Volcanic Sequence. This setting and mineralization is similar to many epithermal deposits in the Sierra Madre Occidental, including Fresnillo Plc’s La Cienega Mine in Durango with historic production of 2.1 million ounces gold and 34.8 million ounces silver.
Figure 1 - Map of Cerro Cascaron vein field with interpreted cross section
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The epithermal textures in the upper levels of the vein field include white to green coloured drusy, colloform banded quartz and quartz after bladed calcite with visible gold. In addition, these upper levels of veining exhibit bonanza gold grades with high gold to silver ratios and elevated antimony and silver geochemistry and this level is interpreted to be a low sulphidation zone.
The epithermal textures in the lower levels of the vein field include white drusy to crystalline quartz with sericite, pyrite, chalcopyrite, sphalerite and galena. These lower levels are defined by high silver grades, low gold to silver ratios and elevated base metal, molybdenum, bismuth, tellurium, and arsenic geochemistry. This level is interpreted as an intermediate sulphidation zone within the system.
At the lowest elevations, the T Prospect consists of tourmaline and quartz veins within a hydrothermal breccia with high gold grades; four samples returned 0.565 g/t to 39.7 g/t gold. The zone is at the lowest elevations mapped to date and has elevated copper, molybdenum and bismuth geochemistry. The prospect is hosted within hornfelsed and propylitic rocks near a granodiorite.
To view Cerro Cascaron maps and photographs, please visit www.evrimresources.com.
Cerro Cascaron Exploration Program
Exploration is underway with three objectives; to define the extent of the open pit, bulk tonnage target, to delineate oreshoot targets along the high grade veins and to extend mapping beyond the currently defined vein field.
The additional work will focus on the open pit target at the Serpiente Dorada zone where the two significant breccia veins intersect and are surrounded by a broad zone of narrow sheeted quartz, hematite, manganese and gold epithermal veins. Trenching and channel sampling will define the extent and grade of the target area.
Detailed vein mapping, trench and channel sampling at the C, P, M and D Veins within the low sulphidation zone will define the width, grades and strike length of the veins.
This program is planned to define drill targets and extend the mapping beyond the current known veining.
Figure 2 - Open pit, bulk tonnage target area and high grade oreshoot targets.
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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 in Mexico and portions of southwestern United States. The existing projects, and generation of quality exploration targets and ideas, 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 & Exploration at 604-248-8648, or visit 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.
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.
