Intercepts from Evrim Resources Corp.’s (TSXV:EVM) recent exploration program in Mexico include 193.5 metres grading 2.09 g/t gold
SmallCapPower | April 12, 2018: Evrim Resources Corp. (TSXV:EVM) Monday announced initial exploration results from the Phase Two exploration program on its wholly-owned Cuale high sulphidation epithermal gold project in Jalisco, Mexico. Early results have exhibited consistent grade gold mineralization within a broad zone of prospective alteration at the ‘La Gloria’ zone, and quality targets from the first line of induced polarization (IP) geophysics. This is after the successful completion of Phase One exploration program in December 2017 and includes Phase Two of work comprising hand trenching and IP surveying, which commenced in February 2018.
Results included 193.5 metres grading 2.09 g/t gold from 92.3 metres along the trench.
Charles Funk, VP of New Opportunities and Exploration for Evrim Resources, remarked, “The initial results from this exploration program at La Gloria are very impressive both in terms of grade and size potential. While the hand trenching and mapping give the surface extent of the mineralization, the IP geophysics gives us a sense of that third dimension — depth or more specifically, the extent of oxidation and silicification which are key elements of this deposit type. The IP geophysics highlights a 100-metre-deep by 300-metre-long high resistivity zone located immediately below the trenches, with a possible feeder zone at depth, and a prospective new zone 400 metres to the west.”
Evrim Resources is a mineral exploration company with a diverse range of quality projects and a database covering substantial areas of Mexico and portions of southwestern United States. The 100%-owned Cuale project is a 97-square kilometer, early-stage exploration property prospective for high sulphidation epithermal gold-silver, located 185 kilometres west of Guadalajara in the Cordillera Madre del Sur.
Evrim Resources currently trades at a market capitalization of about $68 million. After the announcement, Evrim’s stock soared ~36% on the TSXV to close at $0.66 on Monday. Since this past Friday, Evrim Resources shares have climbed ~78% to its current price of $0.87.
Disclosure: Neither the author nor his family own shares in the company mentioned above.
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