Vancouver, BC - May 30, 2013: Evrim Resources Corp. (TSX.V:EVM) (“Evrim” or the “Company”) is pleased to report results from the Phase 2 drill program at the Suaqui Verde copper-molybdenum porphyry project in Sonora, Mexico. Evrim and exploration partner First Quantum Minerals Ltd. (“First Quantum”) have received assay results for five drill holes totaling 3,221 metres of an expanded 2,300 metre drill program. This follow-up program was designed to expand on mineralized zones encountered in Phase 1 drilling and to test exposed targets within the Adriana system and geophysical targets within the surrounding basin.
- Drill hole DHSV12013 represents a discovery of an extension to the Adriana system within the basin and located over 700 metres east of hole DHSV11004, and returned 150.8 metres of 0.11% copper, 0.03 g/t gold, 0.6 g/t silver and 0.003% molybdenum.
- Drill holes DHSV12016 and DHSV13017 represent a blind discovery of another system located within the basin four kilometres south of the Adriana system. Drill hole DHSV12016 returned 24.0 metres grading 0.18% copper, 0.01 g/t gold, 2.8 g/t silver and 0.0001% molybdenum.
- Drill hole DHSV12014 returned 97.1 metres grading 0.13% copper, 0.05 g/t gold, 1.4 g/t silver and 0.004% molybdenum including 13.65 metres of 0.31% copper, 0.08 g/t gold, 2.3 g/t silver and 0.005% molybdenum. This hole was collared 800 metres southeast of DHSV11003 and 570 metres southwest of DHSV11004.
- An east-northeast corridor of anomalous copper mineralization measuring 2,200 metres by 500 metres has now been outlined at the Adriana system.
“The blind discovery in the basin opens a new area for exploration at Suaqui Verde”, commented Paddy Nicol, President and CEO of Evrim Resources. “Drill holes DHSV12016 and DHSV13017 demonstrate our ability to discover new porphyry targets under deep cover. This ability will serve as a foundation for future work.”
About the Suaqui Verde Project
The Adriana system at Suaqui Verde is a copper-molybdenum porphyry system represented by a two kilometre by four kilometre alteration foot print comprising propylitic-phyllic-potassic alteration. The Phase 2 drill program comprised wide step outs ranging from 400 metres to 700 metres where significant mineralization is hosted in granodioritic intrusive rocks and fracture-controlled mineralization in biotite-magnetite altered (potassic alteration) andesitic volcanic rocks, important components of porphyry style mineralization.
Additional drilling within the basin focused on finding new porphyry centres or extensions to the Adriana system. This drilling was successful in identifying a new blind discovery four kilometres south of the Adriana system. Two holes drilled in this system collared 1,250 metres apart intersected fracture-controlled porphyry style mineralization in magnetite±biotite±silica hornfelsed andesitic volcanic rocks in drill hole DHSV12016 and wide continuous intervals of quartz-sericite-pyrite stockwork (phyllic alteration) with anomalous copper cutting similarly-altered andesitic volcanic rocks in drill hole DHSV13017.
Evrim Resources Corp. and partner First Quantum Minerals Ltd. are reviewing the results of this program to determine appropriate steps to follow-up this program. Drill hole intercepts for DHSV12013, DHSV12014, and DHSV12016 are provided in the table below:
|Hole ID||from (m)||to (m)||Interval (m)||Cu (%)||Au (g/t)||Ag (g/t)||Mo (%)|
A complete table of assays and collar locations along with strip logs and select sections and plan maps is provided on Evrim’s website at the following link: http://www.evrimresources.com/suaquiverde.asp.
About Evrim Resources
Evrim is a mineral exploration company with a diverse portfolio of quality gold and copper projects, and a geological database covering Mexico and portions of southwestern United States. Evrim’s business plan is to generate exploration targets that it will advance through option and joint venture agreements with industry partners to create shareholder value. The projects generated to date form a solid foundation for Evrim’s execution of the joint venture business model, which will be further enhanced by a pipeline of new internally developed 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, Exploration 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 Rob Duncan, Vice President, Business Development at (604) 248-8648.
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.