Sarape

  • Introduction

    Target: Gold-silver epithermal vein
    Location: Sonora, Mexico
    Size: 53 km2
    Status: Available for Option
    Stage: Follow-up drilling to test productive vein elevation along strike from initial drill test 

    Overview

    The Sarape Project is a 57 square-kilometre land package covering quartz-carbonate veins with high-level epithermal features developed on the margins of a horst.  The Sarape vein, which varies in width from 3 to 12 metres, has been mapped and sampled over a strike length of five kilometres.  The Chiltepin vein, which averages 3 metres in width on surface, has been traced over a strike length of 2.5 kilometres.  Both veins display high-level epithermal features and elevated gold-silver values.

    Coeur Mining completed a drill program in 2019 to test a range of elevations over 380 metres of strike length on the Sarape Vein.  Drill results outlined a zone of brecciation and tan-green quartz development with subeconomic gold-silver values at approximately 150-200 metres below surface.  More than 3 kilometres of the Sarape vein and over 2 kilometres of the Chiltepin vein remain untested by drilling. 

    Sarape is located within the Rio Sonora valley near Premier Gold’s Mercedes mine, First Majestic’s Santa Elena mine and First Majestic’s Ermitaño Project.  Evrim holds a 2% net smelter royalty on Ermitaño, which at the end of 2018 contained:

    • 704,000 tonnes grading 4.05 g/t gold and 65 g/t silver for 1,460,000 ounces of silver and 91,700 ounces of gold in indicated resources1; and
    • 4,637,000 tonnes grading 3.36 g/t gold and 59 g/t silver for 8,820,000 ounces of silver and 501,500 ounces of gold in inferred resources1.

    1 First Majestic news release dated March 29, 2019.

    Sarape was identified through Evrim’s generative program in the Rio Sonora valley in early 2017 following the discovery of a high-grade gold-silver ore shoot on the Ermitaño vein. The project is 100% owned by Evrim with no underlying royalties and is located near excellent infrastructure with roads and power crossing the 5,776-hectare property. 

    The content of this page has been reviewed by Dave Groves, Vice President of Exploration for the Company. Mr. Groves is a Qualified Person as defined under the terms of National Instrument 43-101.

  • Initial exploration work by Evrim identified two major veins: the Sarape vein, a northwest-striking  vein measuring 6.0 kilometres in length and up to 12.0 metres in width, and the Chiltepin vein, a west-striking vein measuring 2.6 kilometres in length and up to 3.0 metres in width. Both veins are located either side of a horst of folded sandstone and conglomerate of Mesozoic age.

    Systematic channel sampling reveals that the western portion of both veins contains barren white quartz and calcite veins that are interpreted to represent late influx and boiling of meteoric fluids during the collapse of the uppermost levels of a hydrothermal system. The eastern portion of the veins are composed of a separate phase of low temperature, tan green quartz that consistently assays from 0.10 to 0.36 g/t gold across sampled widths, with individual samples assaying up to 3.6 g/t gold. Vein textures in this portion of the vein field may represent the upper levels of a gold/silver bearing system with bonanza grade targets in the boiling zone at depth. This setting is similar to the outcropping veins at Ermitaño West (40 kilometres to the south) where Evrim’s exploration partner First Majestic Silver discovered bonanza grades 150 metres beneath low grade surface veins.

    Sarape Vein

    White quartz and calcite are interpreted to represent hydrothermal system collapse with meteoric fluids drawn down into the faults and heated and boiled. This part of the vein has extremely low gold, silver or pathfinder anomalism as the precursor fluid was barren. A second quartz phase is green/tan in colour and consistently contains 0.1-0.3 g/t gold.

    There is a total strike extent of 2.2 kilometres of anomalous gold at surface. The green quartz phase is overprinted by a white quartz-calcite phase. Textures in green quartz indicate a high level, low temperature environment above the boiling zone. The boiling zone of the green quartz phase represents a drill target interpreted to occur 100-250 metres below surface.

    Chiltepín Vein

    The same quartz paragenesis is observed at the Chiltepin vein as at the Sarape vein with white quartz and calcite overprinting a green/tan quartz phase. The vein is oriented east-west and located on southern margin of an interpreted horst block. The vein structure is predominantly composed of massive vein and stockwork of white quartz and calcite. There are small zones of green quartz which are more common in splays and contain up to 2-3 g/t gold over one-metre sample intervals.

    There is a total strike extent of 1.6 kilometres of anomalous gold. The boiling zone of the green quartz phase represents a drill target interpreted to occur 100-250 metres below surface.

    Coeur Drilling Program

    Ten holes totaling 2,930 metres were completed – nine holes on the Sarape vein and one hole on the Chiltepin vein.  Nine holes tested the Sarape vein along 380 metres of strike length and to a maximum of 450 metres down‐dip. Hole CHI19-01 tested the eastern extremity of the Chiltepin vein and returned no significant results.  

    The Sarape vein displays a complex, multi-episodic emplacement history with two phases of quartz (white and yellow/green) and two phases of carbonate (grey and white). Gold and silver mineralization are associated with both quartz phases and is best developed between 100 and 350 metres below surface where the vein dilates into a wide fissure before it narrows at depth. Vein textures, gold-silver values, pathfinder elements and vein dilation indicate a prospective boiling horizon between 100 and 350 metres below surface in the drilled area.  SAR19-04 and SAR19-06 contain the best developed banded quartz-carbonate textures with rare quartz pseudomorphs of bladed calcite. Only three holes are interpreted to have tested this target level over a strike length of 150 metres. The balance of the six-kilometre Sarape vein, including areas of anomalous pathfinder geochemistry, vein splays and flexures, remains untested.

    The content of this page has been reviewed by Dave Groves, Vice President of Exploration for the Company. Mr. Groves is a Qualified Person as defined under the terms of National Instrument 43-101.

     

  • Jan 17, 2020
    Sarape Technical Presentation