|January 25, 2016|
Evrim Advances the Ball Creek Project
|Vancouver B.C. -- January 25, 2016: Evrim Resources Corp. (TSX.V:EVM) ("Evrim" or the "Company") is pleased to announce the results of exploration and targeting work on the Ball Creek Project. Geological mapping, sampling and data reinterpretation have identified a significant number of untested drill targets as well as broadened the Company's understanding of lithologic, structural and alteration controls on mineralization. Ball Creek is an early stage exploration property 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 Ball Creek is situated in the traditional territory of the Tahltan First Nation and is committed to open and respectful dialogue.
"The controls on mineralization share many key characteristics with other significant porphyry copper-gold deposits in the region and what we have learned in the Main Zone can direct exploration of other mineralized zones on the property," commented Evrim's VP of Technical Services, Stewart Harris. "The Golden Triangle is host to several significant copper porphyry and gold deposits under evaluation and development including Galore Creek, Schaft Creek, and KSM. Commercial production at Imperial Metals' Red Chris Mine and mine construction at Pretium's Brucejack deposit demonstrate that economically sound mineral deposits can be responsibly developed in the area. The new targets at Ball Creek are drill-ready and represent an excellent opportunity for the Company to add to the mineral endowment of this productive region. "
About the Ball Creek Exploration Program
The Ball Creek property lies in a highly productive portion of British Columbia that hosts significant economic high-grade epithermal gold-silver, precious metal-enriched volcanogenic, and porphyry copper-gold systems. Recent work by the British Columbia Geological Survey and other workers have identified regional-scale controls for the major deposits in the belt including major structures that were reactivated multiple times (e.g., the Eskay Rift structure(1)). The rift structure crosses the Ball Creek property and is associated with a number of underexplored and untested copper gold porphyry and epithermal gold systems. Many deposits in the region are spatially associated with exposure of a significant Triassic-Jurassic unconformity, possibly reflecting the presence of mineralized intrusive centres that generated windows through the unconformity during deformation and erosion. This unconformity is well exposed on the Ball Creek property in close proximity to mineralized areas.
The Main Zone has been explored with geological mapping, geochemical surveys, airborne and ground geophysical surveys and approximately 11,000 metres of drilling and recent work by Evrim has better defined the controls on mineralization. Drilling in the Main zone by previous operators intersected 231 metres grading 0.21% copper and 0.54 g/t gold in drill hole BC07-12 and including 45.72 metres grading 0.31% copper and 0.69 g/t gold. The Main Zone mineralization is hosted in a sub-vertical, northeast-striking porphyry complex that is 500 metres wide and 1,300 metres long and intrudes andesitic volcanic rocks. A complex alteration system is centred on the porphyry complex and comprises a core of sodic and potassic alteration that is overprinted, overlain and flanked by sericite-dominant alteration and peripheral propylitic alteration developed in the enclosing andesitic rocks. The potassic and sericite altered porphyry complex hosts the copper-gold mineralization and internal lithologic and structural controls on mineralization have also been identified. Vertical zoning is apparent providing tools to target new copper-gold zones beneath alteration.
A number of quality exploration targets have been identified as a result of this work. The northeast and southwest extensions of the Main Zone mineralization are untested by drilling and there are areas within the Main Zone that have only been tested by shallow holes. Most of the drilling has focused along the southeastern contact of the porphyritic intrusion and only limited shallow drilling has been completed along the northwestern contact that is associated with induced polarization (IP) and geochemical anomalies. Three significant IP and geochemical anomalies are also untested by drilling and one such anomaly that extends northeast from the Cliff Zone is centred on the contact of a northeast-striking porphyry complex. This anomaly also includes previously unrecognized potassic alteration overprinted by quartz-sericite-pyrite alteration.
The Main Zone lies within a cluster of mineralized centres within a five by two kilometre footprint, all with only limited exploration. The Cliff, Goat and ME Zones are separated from the Main Zone by a northwest-trending fault and exhibit the same controls on mineralization as at the Main Zone. Northeast-striking porphyry complexes with widespread potassic, quartz-pyrite, sericite-pyrite-carbonate and propylitic alteration host quartz-sulphide veining and have been tested by at most two shallow drill holes.
Other early-stage targets are present throughout the property. Limited drilling of the Mess Creek and North More copper-gold-molybdenum porphyry targets has tested only a fraction of the structures controlling mineralization including a quartz stockwork zone north of Mess Creek that has yet to be tested by systematic geochemistry or geophysics. The untested Rojo Grande target consists of advanced argillic alteration less than two kilometres southwest of Barrick Gold's Hank epithermal system. A gold-silver volcanic-hosted massive sulphide target hosted in Eskay Creek-equivalent stratigraphy in the Table Mountain area requires follow-up.
Evrim's plan for the project in 2016 is to advance the targets identified to date through a collaboration with a partner that is looking to make a significant discovery in this productive district.
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 Mahesh Liyanage, CFO 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.
You can return to the main News Releases page, or press the Back button on your browser.