Evrim and Harvest Gold Extend Cerro Cascaron Agreement in Mexico
Wednesday, June 19, 2019 7:30 AM
VANCOUVER, BC / ACCESSWIRE / June 19, 2019 / Evrim Resources Corp. (TSX.V: EVM) ("Evrim" or the "Company") is pleased to announce it has signed a letter agreement (the "Agreement") with Harvest Gold Corp. ("Harvest Gold") to extend the Cerro Cascaron agreement for a period of six months (the "Extension"). Under the terms of the Agreement, Evrim and Harvest Gold will attempt to renegotiate the terms of the Cerro Cascaron agreement and search for a new gold project in Mexico.
During the Extension, Evrim's generative team will review projects within its existing property portfolio and locate projects in prospective gold belts in northern Mexico that are aligned with Harvest Gold's exploration strategy. Evrim has agreed to use commercially reasonable efforts to acquire a prospective project and subsequently negotiate option terms with Harvest Gold.
Harvest has agreed to pay $55,000 to Evrim to maintain property payments at Cerro Cascaron while both parties renegotiate the Cerro Cascaron agreement. Once the Cerro Cascaron agreement has been renegotiated, Harvest Gold plans to complete a second target drill program on the property. To date, Harvest Gold has spent $1.25 million exploring and drilling the Cerro Cascaron project.
About the Cerro Cascaron Project
The Cerro Cascaron property hosts a low to intermediate sulphidation epithermal gold system that includes a gold-bearing vein in the eastern part of the property. Veining has been mapped over 900 vertical metres, with classic textural evidence of hydrothermal boiling accompanying the highest gold grades. The proposed boiling zone has been established in the upper 380 metres of the vein field. Beneath the boiling zones, silver and base metal rich veins and breccias provide additional exploration targets.
Cerro Cascaron's setting and mineralization are similar to many epithermal deposits in the Sierra Madre Occidental, including Minera Frisco SAB's Ocampo Mine to the northwest, Coeur Mining Inc.'s Palmarejo mine, and First Majestic Silver's San Martin de Bolaños silver mine.
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, Technical Services for the Company. Mr. Harris serves as a Qualified Person under the definition of National Instrument 43-101.
About Evrim Resources
Evrim is a precious and base metals project generator, with early stage exploration projects and a database covering substantial areas of Mexico, western Canada and portions of southwestern United States. We focus our expertise on identifying new early stage exploration targets which are later advanced through option and joint venture agreements with industry partners to create shareholder value and avoid stock dilution. Evrim's business plan also includes royalty creation utilizing the Company's exploration expertise and existing projects.
On Behalf of the Board
EVRIM RESOURCES CORP.
President & CEO
To find out more about Evrim Resources Corp., please contact Paddy Nicol, President or Liliana Wong, Investor Relations Manager at 778-929-3382.
Visit our website at www.evrimresources.com.
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.
SOURCE: Evrim Resources Corp.