VANCOUVER, BRITISH COLUMBIA, Oct 03, 2012 (MARKETWIRE via COMTEX) — Evrim Resources Corp. /quotes/zigman/3779232 CA:EVM 0.00% (“Evrim” or the “Company”) is pleased to announce that crews have mobilized to the Suaqui Verde and Cardelena copper projects in Sonora, Mexico. Evrim’s exploration partner, Inmet Mining Corporation (“Inmet”), has approved a $1.32 million program consisting of geological mapping, geophysical surveys, and a 2,300 metre drill program.
The Phase 2 exploration program will focus on both the eastern and western extensions of the Adriana system, located in the northwestern area of Suaqui Verde. The Adriana area exhibits an exposed two kilometre by four kilometre propylitic-phyllic-potassic alteration foot print indicative of a copper-molybdenum porphyry system before being covered by post mineralization basin fill. The most recent 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. The current 2,300 metre drill program will comprise similar step outs to identify new porphyry centres or extensions to the Adriana system. These holes will test a combination of geological, geochemical and geophysical targets at Adriana.
The exploration program will also consist of approximately 60 line-kilometres of pole-dipole Induced Polarization geophysics to identify new drill targets within the basin on strike to the east of the Adriana system. This geophysical program will also extend across the basin on strike to the west of Adriana onto the Cardelena project. The Cardelena project hosts significant gold and silver values in quartz-tourmaline vein mineralization related to a quartz-tourmaline breccia pipe. Cardelena hosts the same Laramide age intrusive rocks and Cretaceous andesitic volcanic rocks as at Suaqui Verde and Adriana that have yet to be explored systematically for porphyry copper mineralization. Geologic mapping and soil geochemical surveying will be carried out at Cardelena in conjunction with the geophysical program.
“The exploration programs at Suaqui Verde in 2011 and 2012 have provided the encouragement to continue exploring the extents of the hydrothermal system at Adriana with this second 2012 program. In addition, the program offers the potential for a porphyry copper discovery at the adjacent Cardelena project,” commented Paddy Nicol, President and CEO. “We are pleased to further our partnership with Inmet, who continues to take a dedicated and systematic approach to exploring the Suaqui Verde and Cardelena projects.”
About the Suaqui Verde and Cardelena Projects
The Suaqui Verde and Cardelena copper projects cover 94 km2 of ground located in the southern portion of a highly prospective belt of porphyry copper deposits ranging from Sonora, Mexico through to central Arizona. The belt hosts numerous mines, including the Cananea Copper Mine (7.1 billion tons grading 0.42% copper)(i) in Sonora and the Morenci Copper Mine (4.7 billion tons grading 0.27% copper)(i) in central Arizona. This copper trend accounts for the second largest concentration of porphyry copper deposits in the world where mining for copper has been continuous for over 100 years. ((i)non-43-101 compliant resources)
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.
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.
Evrim Resources Corp.
Evrim Resources Corp.
Vice President, Business Development