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Exploration Highlights

The Cerro Cascaron project covers a series of low sulphidation epithermal gold-silver targets at, or near, the important unconformity between Cretaceous to Tertiary Lower Volcanic Sequence andesites and Tertiary Upper Volcanic Sequence rhyolites. The most significant epithermal gold-silver deposits in the Sierra Madre Occidental, including El Sauzal, Mulatos and Ocampo, occur at, or near, this unconformity. The most significant zone explored on the property to date is called Serpiente Dorada.

Serpiente Dorada is a zone of multiple sub-parallel mineralized structures and breccias that outcrop over a 200 metre by 300 metre area. These commonly high-grade structures are exposed in the lower part of the rhyolite sequence and are associated with a subvertical north-striking fault, parallel subsidiary faults and a younger northeast-striking fault. Importantly, the zone and both north- and northeast-striking structures remain open along strike all directions. Individual mineralized structures exhibit epithermal textures including banded and saccharoidal quartz veins, quartz veinlets and stockworks, breccias with quartz infilling the breccia matrix and silicified zones. The mineralized structures vary from one metre to ten metres in width. Significant gold grades have been returned from Serpiente Dorada; although only 34 rock samples have been collected from this zone to date, they range from <5 parts per billion (ppb) gold to a maximum of 1,670 grams per tonne (g/t) gold and eleven samples exceed 1.0 g/t gold with anomalous silver and pathfinder elements. Coarse visible gold mineralization is locally present and occurs along north striking, sub-parallel fracture planes with manganese oxides within the footwall rhyolite breccias.

Property-wide prospecting has identified eight other gold showings that have yet to be followed up, three of which are high-grade showings with samples exceeding 10 g/t gold. A total of 140 rock samples collected from these showings outside of the Serpiente Dorada zone range from <5 ppb gold to 39.7 g/t gold with 19 of these samples exceeding 1.0 g/t gold, locally with significant silver, base metal and pathfinder values. Silver values from these showings range from <0.5 g/t to 982 g/t and 11 samples exceed 100 g/t silver.

The content of this page has been reviewed by Stewart Harris, P.Geo., Vice President, Technical Services for Evrim Resources. Mr. Harris is a Qualified Person as defined under the terms of National Instrument 43-101