VANCOUVER, British Columbia, April 24, 2019 (GLOBE NEWSWIRE) -- Evrim Resources Corp. (TSX.V:EVM) (“Evrim” or the “Company”) is pleased to announce the acquisition of the La Lola gold-silver project in northern Sonora, Mexico. La Lola was identified and staked through Evrim’s generative programs in 2018 and consolidated through third party agreements in 2019. The project is located along the northern Sierra Madre Gold Belt and contains a five by five kilometre low sulphidation vein field with historic workings.
Project Highlights
- A large 6,309 hectare land package prospective for low sulphidation epithermal gold and silver mineralization
- The project contains the “La Barra” vein that extends for over five kilometres on the west side of the property and locally up to 40 metres wide
- Reconnaissance sampling indicates high grade precious metals within the La Barra vein system with a 58.0 grams per tonne (“g/t”) gold sample taken from a historic dump and a 424 g/t silver sample taken from hanging wall structures
- The project has never seen any drilling or modern exploration
“La Lola is the latest addition to the Company’s portfolio in the Rio Sonora Valley where Evrim has royalties on the Ermitaño deposit and Cumobabi project, a joint venture with Coeur Mining on the Sarape project, and the wholly owned Llano del Nogal project,” commented Evrim’s VP of Exploration and New Opportunities, Charles Funk. “Evrim recognizes this region as highly prospective for epithermal gold and silver discoveries, and our local experience and datasets help generate new opportunities for joint venture.”
The La Lola project is located ten kilometres southeast of the town of Esqueda, north of Grupo Mexico’s La Caridad copper mine, northeast of SilverCrest’s Las Chispas deposit, and west of Oceanus Resources’ El Tigre epithermal vein project. La Lola has road access and was historically mined for fluorite and manganese along the La Barra vein.
A systematic soil survey returned gold anomalies in soil of up to 43 parts per billion (“ppb”) gold along the La Barra vein (ranging from <5 to 43 ppb) and up to 123 ppb gold (ranging from <5 to 123 ppb) in the eastern Adaena alteration zone. A large silver anomaly over 500 ppb silver occurs in the hanging wall to the La Barra vein. Pathfinder geochemistry and quartz textures indicate the shallow erosional level that has the potential to overlie a boiling zone bonanza target at depth.
Evrim is seeking a joint venture partner to advance the project.
Additional information and an introductory presentation on the project is available on Evrim’s website: https://www.evrimresources.com/projects/seeking-partners/la-lola/
Figure 1 – La Lola Location Map is available at: http://www.globenewswire.com/NewsRoom/AttachmentNg/4b95021d-df0b-4b85-8e72-a255651f7757
Figure 2 - La Lola claims showing major zones of alteration and veining is available at: http://www.globenewswire.com/NewsRoom/AttachmentNg/e208201a-2ace-462d-98e6-4f11c511d0f6
Figure 3 - Left: 40m wide blowout in La Barra Vein with historic workings. Top Right: Low temperature quartz calcite vein at La Barra. Bottom Right: Clay and hematite (after pyrite) alteration at Adaena Zone. is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/705bce64-e3c1-42c9-962a-9a9585cf9027
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.
About Evrim Resources
Evrim is a precious and base metals project generator, with early stage exploration projects and a database covering substantial areas of Mexico, western Canada and portions of southwestern United States. We focus our expertise on identifying new early stage exploration targets which are later advanced through option and joint venture agreements with industry partners to create shareholder value and avoid stock dilution. 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.
Paddy Nicol
President & CEO
To find out more about Evrim Resources Corp., please contact Paddy Nicol, President and CEO, Charles Funk, VP New Opportunities and Exploration at 604-248-8648, or Liliana Wong, Investor Relations Manager at 778-929-3382.
Visit our website at 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.