Evrim Resources Corp. advances the TREK 31 property in British Columbia
VANCOUVER, February 18, 2020 - Evrim Resources Corp. ("Evrim" or the "Company") (TSXV:EVM) is pleased to introduce its TREK 31 property in the Nechako Plateau of British Columbia. TREK 31 is a gold-rich porphyry/epithermal target located 30 kilometres northeast of New Gold Inc.'s Blackwater gold-silver deposit (year-end 2018 reserves of 8.2M ounces of gold and 60.8M ounces of silver1). The property was identified by Evrim using data from Geoscience BC's TREK initiative and staked in 2018. TREK 31 Property Highlights
- TREK 31 covers one of the largest and strongest geochemical anomalies identified in Geoscience BC's $4.0 million TREK initiative
- Early exploration by Evrim has outlined a 2.3 kilometre by 900 metre gold-in-till anomaly situated down ice of a major structural break between rocks of the Stikine Terrane and magnetic rocks interpreted to be volcanic and intrusive rocks of Eocene age
- Potential for a Blackwater like exploration target marked by extensive quartz-sericite-pyrite alteration with identifiable geochemical and geophysical footprints
Dave Groves, Vice President of Exploration for Evrim commented, "The acquisition of TREK 31 is the result of using government funded exploration initiatives and evolving exploration models to generate new exploration targets. Blackwater-Davidson validates the presence of large gold-silver systems in the Nechako Plateau, and additional discoveries are likely using the TREK data sets and effective geochemical and geophysical programs."
Figure 1: TREK 31 Location Map.
About the TREK 31 Property
The 94 square-kilometre TREK 31 property is located 80 kilometres southwest of Vanderhoof and 30 kilometres east of New Gold's Blackwater-Davidson gold-silver deposit (Figure 1). TREK 31 covers ‘Target 31' from the TREK initiative - a strong, continuous area of anomalism with no specific mineral association (porphyry versus epithermal) and no known source.
The Nechako plateau is a region known to host porphyry and epithermal mineral systems within rocks of the Stikine Terrane, an accreted island arc composed of volcanic and sedimentary rocks from Devonian to Jurassic age. In the Nechako Plateau, rocks of the Stikine Terrane include black shale and siltstone of Triassic age, overlain unconformably by the Hazelton Group which consists of pyroxene-phyric basalt flows, volcanic sandstone and conglomerate and tuffaceous conglomerate. Rocks of the Stikine terrane are, in turn, intruded and unconformably overlain by alkaline intrusive and volcanic rocks from Late Cretaceous to Eocene in age.
The geology of the TREK 31 claims includes limited exposures of Lower and Middle Jurassic Hazelton Group basaltic to andesitic lava flows that are interlayered with tuff, volcanic breccia and sedimentary rocks. The center of the property is dominated by Ootsa Lake andesite and rhyolite of Eocene age and Neogene Chilcotin Lake basaltic flows (Figure 2). Most of the TREK 31 property is covered by basal till, and the geology has largely been interpreted from high-resolution aeromagnetic surveys.
Figure 2. Bedrock Geology of TREK 31 (after Angen 2017).
The Nechako Plateau remains underexplored due to extensive till cover. Discovery of the Blackwater-Davidson deposit, a disseminated gold-silver deposit containing 8.2M ounces of gold and 60.8M ounces of silver in proven and probable reserves1, confirms the endowment of a class of porphyry/intermediate-sulphidation metal systems associated with rhyolitic epicenters in the region. Blackwater-Davidson and the similar Capoose and Newton deposits are large exploration targets marked by extensive quartz-sericite alteration (which can be mapped with IP geophysical surveys) and polymetallic geochemical signatures.
Evrim conducted two campaigns of field work on the TREK 31 property to constrain the source of the gold-in-till anomalism and to provide a vector towards a bedrock source.
Evrim Sampling Program
Evrim completed a tight grid of basal till sampling in 2018 to confirm a highly anomalous TREK sample that included 7 gold grains with anomalous silver, arsenic, mercury, copper and zinc. Additional sampling in 2019 consisted of till samples at nominal 250 metre spacing on three lines normal to ice direction and spaced roughly 1.5 to 2 kilometres apart.
ICP-MS analysis of the clay fraction and gold grain separations identify a roughly 2.3 by 0.9 kilometre gold-silver-arsenic-copper anomaly down ice of a pronounced geophysical break and magnetic high (Figure 3). Ultrafine gold values to 33 parts per billion (ppb) are markedly anomalous in the context of the larger TREK till study where the median ultrafine gold value was 2 ppb and the 99th percentile was 10 ppb gold (van Geffen 2017)2. Anomalous gold values in the clay fraction are supported by anomalous silver, arsenic, mercury, copper and zinc. The sample with the 33 ppb gold value in the clay fraction returned a gold grain count of 25 that includes 7 pristine gold grains. Cinnabar is also present in abundance in several of the gold grain separations.
Figure 3. Gold in basal till over Reduced to Pole Total Magnetic Intensity. Purple circle highlights till anomaly and triangle represents average till transport distance and transport direction.
Evrim plans to complete an Induced Polarization (IP) geophysical survey across the source area of the till anomaly to identify areas of anomalous chargeability and resistivity for testing with a reverse-circulation drilling program from existing logging roads.
QA/QC Procedures
Samples were delivered to ALS Global in Terrace, BC for sample preparation and to the ALS laboratory in North Vancouver for analysis. The ALS facilities have ISO/IE 17025:2005 certification. Two blank samples and two standards (OREAS 45E) were inserted into the ALS sample stream.
Qualified Person Statement
Evrim's disclosure of technical and scientific information in this news release has been reviewed by Dave Groves, Vice President, Exploration for Evrim. Mr. Groves is a Certified Professional Geologist (#11456) with the American Institute of Professional Geologists and a Qualified Person under the definition of National Instrument 43-101.
About Evrim Resources
Evrim Resources is a mineral exploration company whose goal is to participate in significant exploration discoveries supported by a sustainable business model. The Company is well financed, has a diverse range of quality projects and a database covering substantial areas of Mexico and portions of southwestern United States. The Company's projects are advanced through option and joint venture agreements with industry partners to create shareholder value. Evrim's business plan also includes royalty creation utilizing the Company's exploration expertise and existing projects.
On Behalf of the Board
Paddy Nicol
President & CEO
To find out more about Evrim Resources Corp., please contact Paddy Nicol, President, Dave Groves, VP of Exploration at daveg@evrimresources.com, or Liliana Wong, Manager, Investor Relations at 604-425-3400.
Visit our website at www.evrimresources.com.
- New Gold December 31, 2018 Reserves https://www.newgold.com/assets/blackwater/default.aspx
- Van Geffen, P. (2017): Enhanced Geochemical Signal in the Ultra-Fine Fraction of Tills from the Trek Project. Presentation at the BC Geoscience TREK workshop, October 17, 2017.
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.