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Axe


Introduction

Commodity:Cu±Au porphyry
Location:British Columbia, Canada
Size:50 km2
Status:Available for Option
Stage:Geophysical Survey, Geological Mapping and Prospecting for Drilling

Overview

The Axe Project is a 50 square kilometre, early stage exploration property, prospective for gold-rich copper porphyry mineralization. It is ideally located in southern British Columbia's Omineca Belt, 20 kilometres north of Princeton along Highway 5A, and 30 kilometres north of Copper Mountain Mining Corporation's producing Copper Mountain Mine. Evrim's acquisition of the property is part of its strategic focus on quality, as it upgrades its portfolio with well mineralized assets having significant upside and in the best regions.

  • Located in a geologically highly prospective region containing significant deposits and mines;
  • Moderate topography located close to infrastructure which significantly enhances the economics of any discovery;
  • A large land package which hosts several copper and gold systems yet remains significantly underexplored;
  • High quality data from historic exploration programs, demonstrated targets that remain open for testing;
  • Newly identified copper-gold-magnetite targets adjacent to economic intersections;
  • 100% ownership by Evrim.

Regional geology:

The Axe property is located within the Intermontane Belt in the southern portion of the Quesnellia Terrane in southern British Columbia. The southern portion of the Quesnel trough dominantly comprises by the Triassic Nicola Belt volcanic and sedimentary rocks that have been intruded by Triassic to Cretaceous intrusions, which extend from the Canada/USA border to north of Kamloops. These rocks are overlain by Cretaceous and younger post-mineral volcanic and sedimentary rocks. The southern Quesnel trough hosts several producing mines and developing mineral deposits.

  • 35 kilometres north of the Copper Mountain Mine (449 Mt at 0.30% copper, 0.12 g/t gold and 1.04 g/t silver in total reserves and resources),
  • 100 kilometres southeast of the Highland Valley Mine (2.5 Gt at 0.26% copper, 0.009% molybdenum in total reserves and resources),
  • 340 kilometres southeast of the Gibraltar Mine (952 Mt at 0.25% copper and 0.008% molybdenum in total reserves and resources) and
  • 115 kilometres south of the New Afton (132 Mt at 0.73% copper and 0.59 g/t gold) and Ajax Mines (597 Mt at 0.25% copper and 0.18 g/t gold) in total reserves and resources).
Twenty-one claims on the Axe property are subject to an underlying 1% net smelter royalty (NSR) that can be purchased for $1.5 million and four separate claims are subject to an underlying 2% NSR whereby half can be purchased for $1.0 million and the remaining half can be purchased for $2.0 million.

The content of this page has been reviewed by Stewart Harris, P.Geo., Vice President, Technical Services for the Company. Mr. Harris is a Qualified Person as defined under the terms of National Instrument 43-101.