Evrim drills 14 m of 1.92 g/t Au at Cuale

Stockwatch Daily - - FRONT PAGE - Mr. Paddy Ni­col re­ports

EVRIM RE­SOURCES Corp. has re­leased ini­tial drill re­sults from the Cuale high-sul­phi­da­tion ep­ither­mal gold project in Jalisco, Mex­ico. The com­pany has re­ceived as­say re­sults from four of the first five drill holes tar­get­ing the La Glo­ria prospect. A to­tal of 1,167 me­tres have been com­pleted of a planned 3,000-me­tre pro­gram. Drill in­ter­sec­tion high­lights Drill hole GLR18-01:

• 14.0 me­tres grad­ing 1.92 grams per tonne gold from sur­face and 10.2 me­tres of 1.58 per cent cop­per from 238.8 me­tres down­hole. Drill hole GLR18-02:

• 17.0 me­tres grad­ing 0.52 g/t gold from sur­face. Drill hole GLR18-03:

• 29.0 me­tres grad­ing 0.87 g/t gold from 6.0 me­tres down­hole.

Paddy Ni­col, pres­i­dent and chief ex­ec­u­tive of­fi­cer of Evrim, com­mented: “Un­for­tu­nately the gold grades in the first few drill holes were sig­nif­i­cantly less than that en­coun­tered in the trenches at La Glo­ria. The drill rig is cur­rently turn­ing near the North Dome where we have ad­di­tional tar­gets and we are con­tin­u­ously eval­u­at­ing our ex­plo­ration pro­gram as re­sults are re­ceived.” About the Cuale drill pro­gram

The drill holes com­pleted to date have in­ter­sected vol­canic frag­men­tal rocks, all of which have been vari­ably al­tered and rep­re­sents part of a sig­nif­i­cant hy­dro­ther­mal sys­tem. Drill holes GLR18-01, GLR18-02 and GLR18-03 were de­signed to form a sec­tion be­neath trench 4 and in­ter­sected a 28-me­tre-to-32-me­tre true thick­ness of quartz-hematite brec­cia from sur­face. The brec­cia is pre­dom­i­nantly clast sup­ported with 1.0-mil­lime­treto-20-cen­time­tre sub­rounded clasts of quartz with in­ter­preted py­ro­phyl­lite/ dick­ite and spec­u­lar hematite in an earthy hematite ma­trix. This unit hosts the gold min­er­al­iza­tion ob­served in trench­ing and drilling. Gold cor­re­lates with el­e­vated sil­ver, bis­muth, molyb­de­num, lead and an­ti­mony. Be­neath this unit is a 3.0-me­tre band of mas­sive quartz and in­ter­preted py­ro­phyl­lite/dick­ite al­ter­ation that has per­va­sively re­placed an ear­lier tuff unit. Un­der­ly­ing this brec­cia is a 128-me­tre-to-175-me­tre true thick­ness of fel­sic lithic tuff that is strongly al­tered by quartz, chlo­rite and pyrite, ex­plain­ing the strong re­sis­tiv­ity tar­geted in these holes. The pyrite in this zone also co­in­cides with a weak charge­abil­ity anom­aly. Be­neath this unit is a fine-grained crys­tal tuff with a true thick­ness of 20 me­tres to 28 me­tres with a zone of in­tense pyrite, chal­copy­rite and chal­cocite at the lithic tuff — crys­tal tuff con­tact. This con­tact is the lo­ca­tion of the cop­per in­ter­sec­tions in holes GLR18-01 and GLR18-02. At the base of the three holes is a coarse-grained tuff unit with abun­dant quartz eyes (5 per cent to 20 per cent) and strong quartz and chlo­rite with mi­nor pyrite al­ter­ation. Drill holes GLR18-04 and GLR18-05 are stepout holes to­ward the north. These holes de­fine a sim­i­lar se­quence of brec­cia and tuff units al­though the quartz-hematite-al­tered brec­cia thick­ens to the north, in­creas­ing to a true thick­ness of 76 me­tres in hole GLR18-05. Un­like the first three holes, gold min­er­al­iza­tion in GLR18-05 is only mi­nor. The depth of ox­i­da­tion in­creases to the north while the un­der­ly­ing lithic tuff unit thins no­tably. Ad­di­tional tar­gets in­clude the North Dome area where a post­min­eral brec­cia con­tains 30 per cent to 90 per cent quartz-al­tered clasts, up to 1.5 me­tres in size, that con­tain gold grades from be­low de­tec­tion to 11.90 g/t gold (19 of 63 rock chip sam­ples are greater than 0.25 g/t gold). The brec­cia is also be­lieved to have sam­pled a min­er­al­ized zone be­neath the sur­face rep­re­sent­ing a tar­get at depth. Core sam­ples were de­liv­ered to ALS Global in Guadala­jara, Jalisco, for sam­ple prepa­ra­tion and to the ALS lab­o­ra­tory in North Van­cou­ver for anal­y­sis. The Guadala­jara and North Van­cou­ver fa­cil­i­ties have ISO/IEC 17025:2017 cer­ti­fi­ca­tion. Field du­pli­cate sam­ples, blank rock sam­ples and cer­ti­fied ref­er­ence ma­te­ri­als were in­serted into the sam­ple se­quence each at a fre­quency of one per 20 sam­ples. Sam­ples were as­sayed for gold b y 30-gram fire as­say and mul­ti­ele­ment anal­y­sis by four-acid and ICP (in­duc­tively cou­pled plasma) anal­y­sis.

(See EVM Ta­ble 1 on page 14)

About the Cuale prop­erty The Cuale project is 100 per cent owned by Evrim and com­prises a 232-square-kilo­me­tre prop­erty prospec­tive for high sul­phi­da­tion ep­ither­mal gold min­er­al­iza­tion. The project is lo­cated 185 kilo­me­tres west of Guadala­jara and 35 kilo­me­tres south­east of Puerto Val­larta in the Cordillera Madre del Sur. Re­gion­ally, the project is lo­cated within the Talpa de Al­lende area of Jalisco near Ag­nico Ea­gle Mines’ Bar­queno project (645,000 ounces gold and 38 mil­lion ounces sil­ver) and En­deav­our Sil­ver’s Ter­ronera project (436,000 ounces gold and 42 mil­lion ounces sil­ver). The area is close to in­fra­struc­ture with roads and power lines cross­ing the prop­erty.

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