Vancouver B.C. – October 12, 2016: Evrim Resources Corp. (TSX.V: EVM) (“Evrim” or the “Company”) announces new exploration results at the Company’s 100% owned Llano del Nogal project in Sonora, Mexico. Recent mapping and ground geophysics has defined a large 1,000 metre by 600 metre zone of porphyry alteration with a buried target at the Suanse area. Llano del Nogal has had very limited exploration and represents one of the few undrilled projects within the Cananea - La Caridad Porphyry Belt.
Suanse Porphyry Target Highlights
- Mapping and geochemical work has defined a 1,000 metre by 600 metre zone of propylitic to potassic altered volcanics, Laramide age intrusives and hydrothermal breccias
- A 600 metre by 500 metre copper (>100 parts per million) in soil anomaly within a broader 900 metre by 500 metre multi-element anomaly. Copper mineralization occurs as chalcopyrite with chlorite-K-feldspar-pyrite in veins and chalcopyrite with magnetite veins within the anomaly.
- Ground magnetics have identified a 400 metre by 400 metre donut-shaped anomaly coincident with the anomalous soil geochemistry
- Interpretation of the alteration, geochemical zonation and geophysics suggests a shallowly buried porphyry target that has never been drill tested
Charles Funk, Vice President of New Opportunities and Exploration commented, “The recent work at the Suanse target has been an exciting step forward in understanding the geology at Llano del Nogal. The program advanced the Suanse prospect and demonstrates the porphyry potential within the larger 25 square kilometre alteration zone. These positive results will allow us to promote the exploration opportunity at Llano del Nogal to prospective partners with a clearly defined target.”
About the Llano del Nogal Project
Llano del Nogal covers approximately 104 square kilometres and lies 180 kilometres northeast of Hermosillo at the junction of the Cananea - La Caridad Porphyry Belt, and an east-northeast structural trend that hosts polymetallic, gold-silver vein, and breccia systems. The project overlies an extensive alteration system, which is exposed over approximately 25 square kilometres.
The property includes windows of pre-mineral Cretaceous rocks intruded by Laramide-equivalent intrusives largely covered by post-mineral rocks. A number of prospective mineralized structures within an east-northeast trending alteration zone are interpreted to be high-level epithermal gold-silver structures that could be related to a buried porphyry copper±molybdenum±gold system.
Suanse Porphyry Target
Mapping at the Suanse target has encountered andesites and dacites that have been intruded by granite-granodiorites and a quartz-feldspar porphyry dyke. A 200 metre by 35 metre quartz-sulphide healed hydrothermal breccia and overprinting epithermal quartz veins indicate a dynamic porphyry environment with multiple intrusive phases. Alteration varies from distal propylitic to locally potassic and the quartz feldspar porphyry dyke is quartz-sericite altered.
A 50 line-kilometre ground magnetic survey defined a donut shaped magnetic high that is coincident with magnetite veinlets in the potassic alteration, surrounding the hydrothermal breccia and quartz-feldspar porphyry dyke in the centre of the prospect.
A 1,400 metre by 1,200 metre soil grid defines a broad multi-element porphyry target. Copper greater than 100 parts per million (ppm) occurs coincidently with the magnetic anomaly over a 500 metre by 500 metre area within a broader 900 metre by 500 metre zone including high bismuth (>1 ppm) and tellurium (>500 parts per billion).
Interpreting the zones of potassic alteration, with the strong bismuth, tellurium and copper in soil anomaly and the inverted magnetic model suggest a shallowly buried porphyry is the main target at the Suanse prospect.
Figure 1 – Geological map of Suanse porphyry target with alteration mapping overlaid.
Figure 2 – (clockwise from top left) Copper in soil survey over geology. Tellurium in soil survey over geology. Reduced to Pole ground magnetics survey. Bismuth in soil survey over geology.
To learn more about Llano del Nogal and to view additional maps and photos, please visit www.evrimresources.com.
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.
On Behalf of the Board
EVRIM RESOURCES CORP.
President & CEO
To find out more about Evrim Resources Corp., please contact Paddy Nicol, President or Charles Funk, VP New Opportunities & Exploration at 604-248-8648, or visit www.evrimresources.com.
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.