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Ermitaņo


Exploration Highlights

The Ermitaño project is located within the same trend of mineralization that is currently being mined at First Majestic's Santa Elena mine and comprises an estimated 16,526 hectares. The defined corridor is approximately 10 kilometres by 20 kilometres along a NW-SE trend. The concessions contain Late Cretaceous andesite and rhyolite volcanic rocks which host the vein structures controlling the Santa Elena low sulphidation epithermal mineralization. An exploration program completed in 2014 has tested widespread epithermal mineralization in four defined main targets outlined below:

Ermitaño West

The Ermitaño West zone (see Ermitaño West Drill Plan on Maps tab) consists of a network of low to intermediate sulphidation east--west trending epithermal veins and stockwork. The veining covers an area 1,200 metres long by 600 metres wide with 912 rock samples averaging 0.12 g/t gold over widths ranging from 0.1 metres to 3.5 metres and averaging 0.7 metres. The principal east-west striking vein is up to 3.5 metres wide on surface with a hanging wall of sub-parallel east-west striking veins and north-south striking stockwork veining over 200 metres wide. Vein textures, including banded quartz, quartz replacing bladed calcite, and an elevation more than 100 metres higher than the pit at Santa Elena suggest a shallower level of exposure in the epithermal environment compared to Santa Elena.

Drilling targeted the main east-west trending vein at Ermitaño West that is interpreted to form the hanging wall to veins and veinlets mapped to the south. The main vein is hosted in rhyolite tuff and drilling intersected competent white, green, clear and amethyst quartz, adularia, manganese oxide and iron oxide veins from 7.5 to 13.1 metres wide. Textures vary from massive crystalline quartz with rare minor colloform and cockade bands at surface and in hole EW-16-01 to strongly developed banding, increased oxides and adularia, abundant replaced bladed calcite rosettes and re-brecciation with increasing depth. Veins have silicified selvages and common vein stringers adjacent to the competent vein with similar grade mineralization.

The results fit a classical epithermal pattern with low gold and silver grades at surface increasing at depth to economic grades where textures indicate a boiling environment within the vein. The increase in grade within the vein beneath the surface and a high gold to silver ratio (~1:10) strongly suggest that ore shoots are fully preserved and the limited drilling shows a system open to the east, west and at depth (Figure 3).

Drilling is ongoing to complete a planned 10-hole program with further assays pending.

Ermitaño West Drilling Technical Data
Significant assay results from the drilling program at Ermitaño West are shown below.

Table 1 - Ermitaņo West Significant Intersections.

Hole From
(metres)
To
(metres)
Interval
(metres)
Au
(g/t)
Ag
(g/t)
EW-16-01 96.55 105.4 8.85 0.838 9.4
EW-16-02 157.1 170.3 13.2 1.132 28.6
including 165.2 168.2 3.0 2.874 71.6
EW-16-03 195.8 205.4 9.6 1.804 23.7
including 199.55 202.65 3.1 4.901 36.0
EW-16-04 224.5 242.45 17.95 11.408 86.3
including 233.1 236.35 3.25 34.565 241.6
*All figures are available in the News Release posted on the Company web page www.evrimresources.com.

El Durazno

The El Durazno target comprises two parallel east-west trending corridors of veining and stockwork mineralization with thickness ranging from 4 metres to 50 metres for a defined cumulative strike length of approximately 900 metres. The first corridor is defined by outcropping of veins and stockwork in an area of 400 metres along strike and 50 metres wide with a total of 86 surface channel samples averaging 1.28g/t gold. The second corridor is defined by outcropping of vein and stockwork in an area of 500 metres along strike and 50 metres wide with 129 surface channel samples averaging 0.34g/t gold. Surface channel samples in the two corridors range from 0.4 metres to 2.0 metres in width and average 1.50 metres in width. Evidence based on epithermal textures and more detailed mineralogical studies suggest a shallower level exposure in a low sulphidation epithermal environment compared to Santa Elena. The interpreted shallow level of exposure presents an excellent opportunity to discover additional mineralization at depth.

Ermitaño East

Ermitaño East is an east-west trending galena-bearing silver vein system with indications of two different levels of epithermal exposure (deep and shallow). Surface sampling returned significant silver grades with 554 channel samples with an average width of 1.60 metres and an average grade of 14 g/t silver, including 6 samples that exceeded 300 g/t silver.

Veta Valentina

Veta Valentina hosts a 1.2 kilometre long and 10 metre wide east-west trending structural corridor with low sulphidation epithermal veining.

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.