VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 23, 2012) - Evrim Resources Corp. (TSX VENTURE:EVM) ("Evrim" or the "Company") is pleased to announce that a second phase drilling and exploration program has been approved by partner Inmet Mining Corporation ("Inmet") (TSX:IMN) at the Company's Suaqui Verde copper-molybdenum porphyry project in Sonora, Mexico. Evrim and Inmet have also received remaining assay results from the first phase drilling program. The approved program is designed to test a combination of geophysical targets and exposed surface targets within the Adriana system and the surrounding basin and will include preliminary geological and geophysical work on the Cardeleña project, recently optioned by Inmet.
Drill Highlights (Previously released)
- Drill holes DHSV11003 and DHSV11004, collared within the Adriana system and located 1,000 metres apart, returned long intersections from surface of copper mineralization hosted within biotite-albite-K-feldspar altered (potassic alteration) granodiorite intrusive rocks.
- Drill hole DHSV11003 returned 402.2 metres of 0.13% copper, 0.04 g/t gold, 1.1 g/t silver and 0.005% molybdenum including 116.2 metres of 0.19% copper, 0.07 g/t gold, 1.3 g/t silver and 0.006% molybdenum.
- Drill hole DHSV11004 returned 354.6 metres of 0.14% copper, 0.04 g/t gold, 1.1 g/t silver and 0.002% molybdenum including 58 metres of 0.22% copper, 0.06 g/t gold, 1.8 g/t silver and 0.002% molybdenum.
- An east-northeast corridor of anomalous copper mineralization measuring 1,700 metres by 500 metres has now been outlined by drilling.
The Adriana system at Suaqui Verde exhibits an exposed two kilometre by four kilometre propylitic-phyllic-potassic alteration foot print indicative of a copper-molybdenum porphyry system before it was covered by post mineralization basin fill. Current drilling at Adriana has focused on testing deeper parts of the system in a series of wide step outs ranging from 500 metres to 1,300 metres. Drilling within the basin has focused on finding new porphyry centres or extensions to the Adriana system.
The remaining drill holes completed are DHSV11007, DSHV11008 and DHSV12009 - DHSV12012. DHSV11009, located 840 metres north of DHSV11003, intersected sporadic weakly anomalous copper mineralization in predominantly moderately to strongly quartz-sericite-pyrite altered (phyllic alteration) andesite volcanic rocks with minor monzonite intrusive rocks and quartz-tourmaline breccia. Holes DHSV11007, DHSV11008 and DHSV12010 - DHSV12012 all successfully penetrated the pre-mineral sequence beneath post mineral basin fill east of the Adriana system. All holes encountered andesitic rocks with variable weak to moderate quartz-sericite-pyrite (phyllic) alteration or epidote - chlorite (propylitic) alteration indicative of the zonation encountered within porphyry systems.
Based on these encouraging results, Inmet has approved an exploration program that will consist of investigation of the basin west of the Adriana system, located on the Cardelena property, by Induced Polarization surveys and follow up drilling at Adriana itself. This work is slated to begin in the fall of 2012. The budget approved for this phase of drilling is approximately $1.378 million.
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/s/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. General Manager, Exploration for the Company. Mr. Harris serves as a Qualified Person under the definition of National Instrument 43-101. Quality assurance and quality control procedures include the systematic insertion of blanks and standards into the drill core sample string. Samples are placed in sealed bags and shipped directly to the ALS Minerals in Hermosillo, Mexico prior to gold fire assay and ICP-AES analysis.
For further information on Evrim please visit www.evrimresources.com.
On Behalf of the Board
EVRIM RESOURCES CORP.
Paddy Nicol, President & CEO
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.