Evrim Resources Corp. (TSXV: EVM) (“Evrim” or the “Company”) is pleased to provide an update on recent activity at its Ermitaño gold-silver project in Sonora, Mexico under option to First Majestic Silver Corp. (TSX: FR) (NYSE: AG) (“First Majestic”). First Majestic has completed six additional drill holes following up discovery hole EW16-04 that intersected 11.4 grams per tonne gold over 18.0 metres at the Ermitaño West prospect (see News Release dated January 17, 2017). During a site visit, Evrim geologists reviewed holes EW16-05 to EW16-07 and report intersections of wide veins with near identical vein mineralogy and textures to those reported in hole EW16-04.
As quoted in the press release:
First Majestic is in receipt of the assay results and has indicated that it would make the results available to Evrim subsequent to successful completion of its community engagement process at Ermitaño. Under the terms of the Agreement, First Majestic has to deliver a production notice supported by the required permits and a detailed mining and construction schedule by January 10, 2019 to earn 100% of the Ermitaño project, at which time Evrim will retain a 2% NSR.