|Commodity:||High grade Au-Ag epithermal vein|
|Status:||Optioned to Harvest Gold Corporation|
|Stage:||Geological Mapping, Geophysical Survey, and Prospecting for Drilling|
The Cerro Cascaron project is a 69 square kilometre, low to intermediate sulphidation, epithermal gold bearing system located in the Sierra Madre Occidental of Chihuahua, Mexico, approximately 55 kilometres southeast of Goldcorp Inc.'s past-producing El Sauzal gold mine. Towards the eastern segment of the property lies a high-grade gold vein field spanning approximately 18 square kilometres in area. Veining has been mapped over 900 vertical metres, with classic textural evidence of hydrothermal boiling accompanying the highest gold grades. This 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. The property also contains a substantial silver rich breccia target (La Cascarita) located five kilometers west of the currently defined gold field. Much of Cerro Cascaron is yet to explored.
Evrim has signed a four-year agreement with Harvest Gold Corporation whereby Harvest Gold can earn an initial 70% interest in the Cerro Cascaron project by incurring $6 million in exploration expenditures, making $900,000 in cash payments and issuing 2 million shares to Evrim over the four year period. Evrim will be the operator during this initial interest period. An additional 10% interest for an aggregate 80% interest in the Project may be acquired by Harvest Gold by making a cash payment of $200,000 (or 200,000 shares at Evrim's election) and funding a 43-101 compliant feasibility study over a five year period. If Evrim's interest in Cerro Cascaron is diluted to 10% or less, its interest will convert into a 2% net smelter royalty. Evrim will retain the right to purchase half of a pre-existing 2% NSR from a property vendor for US$2.5 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