|June 16, 2015|
Evrim formally acquires the Ball Creek Project in British Columbia
|Vancouver B.C. -- June 16, 2015: Evrim Resources Corp. (TSX.V:EVM) ("Evrim" or the "Company") is pleased to announce that further to the Company's news release on April 27, 2015, the Ball Creek agreement (the "Agreement") between Evrim and Paget Minerals Corp. ("Paget") has been approved by Paget's shareholders. Ball Creek is an early stage exploration target prospective for copper-gold-molybdenum porphyry and epithermal gold-silver deposits. The project covers a 520 square kilometre area in the Golden Triangle in northwest British Columbia. |
Evrim acknowledges that the Company will be working in the traditional territory of the Tahltan First Nation and is committed to open and respectful dialogue.
"The acquisition of Ball Creek is aligned with the Company's strategic focus on quality projects in highly prospective regions. Ball Creek has the geological merits of nearby properties hosting significant metal deposits or mines. The work completed to date and the untested targets indicate the project has significant potential," commented Evrim's CEO, Paddy Nicol. "The Golden Triangle is host to several significant copper porphyry and gold deposits including Red Chris, Galore Creek, Schaft Creek, Brucejack, and KSM. The recent startup of the Imperial Metals' Red Chris mine and the development of Pretium's Brucejack deposit prove that economically sound mineral deposits can be developed in the area. The close proximity of Ball Creek to Highway 37 and the newly constructed 237 kilovolt transmission line is a distinct advantage for the project."
About the Ball Creek Property
The Ball Creek property is located along the Eskay Rift and the Jurassic unconformity, features that have been highlighted in work by the B.C. Geological Survey as possible regional-scale controls on significant gold and copper mineralized systems.(1) Several copper gold porphyry and gold epithermal systems are in close proximity on the project and exhibit significant and complex alteration representing strong and long-lived hydrothermal systems.
The Main zone has seen most work to date with several geophysical surveys and over 11,800 metres of drilling. Several target areas and vectors remain untested, however, including coincident chargeability and magnetic anomalies from the IP survey completed in late 2012. Peripheral to the Main zone, there are additional mineralized systems at the Cliff, Goat and ME zones. These zones form a cluster of mineralized centres with a five by two kilometre footprint, with only limited exploration. The drill intersections to date at the Main zone have been of sufficient grade and width to indicate a gold-copper porphyry system with similar metal ratios as Red Chris and GJ/Kinaskan.
Outlying targets at Ball Creek include epithermal gold mineralization adjacent to the Hank gold deposit, and the Mess copper porphyry system, approximately ten kilometres southeast of Schaft Creek. The Mess Zone is a four by three kilometre area of gold-copper geochemical anomalies associated with propylitic alteration and fracture-controlled and disseminated sulphide mineralization in both volcanic and porphyritic intrusive rocks. Limited historic drilling in the Mess Zone has confirmed encouraging copper-gold mineralization but the zone remains largely untested.
Evrim's work program this summer aims to establish an understanding of the regional and local controls on the deposits and mineralization with an aim to further targeting of new zones and developing existing mineralized volumes.
To acquire a 100% interest in the Ball Creek project, Evrim will pay to Paget C$150,000 and additional consideration consisting of cash or shares, at Evrim's election, in the event certain exploration milestones are made or joint venture payments are received. The Ball Creek property is also subject to an underlying 2% net smelter royalty (NSR), of which half can be purchased for $1.0 million.
The foregoing is subject to acceptance of the TSX Venture Exchange.
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.
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.
On Behalf of the Board
EVRIM RESOURCES CORP.
President & CEO
To find out more about Evrim Resources Corp., please contact Paddy Nicol, President or Howard Davies, COO at 604-248-8648, or visit www.evrimresources.com.
Alldrick, D. J., Nelson, J. L., and Barresi, T., 2005. Tracking the Eskay Rift through northern British Columbia: geology and mineral occurrences of the upper Iskut River area. In: Geological Fieldwork 2004, British Columbia Ministry of Energy, Mines and Petroleum Resources, British Columbia Geological Survey Paper 2005-1, pp. 1-30
Kyba, J., 2014. The Stuhini-Hazelton Unconformity of Stikinia, Investigations at KSM-Brucejack, Snip-Johnny Mountain and Red Chris Areas. Paper 240-7 In: Session 240, Triassic-Jurassic Tectonics and Tectonic-Structural Controls on Porphyry and Related Mineralization in the Northern Cordillera, 2014 GSA Annual Meeting, Vancouver.
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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