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Evrim Announces Resource Upgrade at the Ermitaño Project
VANCOUVER, BC / ACCESSWIRE / April 1, 2020 / Evrim Resources Corp. (TSX.V:EVM) ("Evrim" or t...
About this update from Orogen Royalties Incorporation
[{"type":"text","content":"Evrim Announces Resource Upgrade at the Ermitaño ProjectVANCOUVER, BC / ACCESSWIRE / April 1, 2020 / Evrim Resources Corp. (TSX.V:EVM) (\"Evrim\" or the \"Company\") is pleased to announce an update to the gold-silver resource on the Ermitaño Project in Sonora, Mexico. Property owner First Majestic Silver Corp. (\"First Majestic\") announced a 15% increase in grade and a 345% increase in contained silver-equivalent ounces in the indicated resource for year-end 2019 compared to the 2018 indicated resource (First Majestic news release of March 30, 2020). Ermitaño is located approximately four kilometres from First Majestic's Santa Elena mine and is being developed as a satellite deposit. Evrim holds a 2% net smelter royalty (NSR) on the Ermitaño Project.Year-End 2019 Ermitaño Resource HighlightsIndicated resource increased to 2,107,000 tonnes averaging 4.59 grams per tonne (\"g/t\") gold and 70 g/t silver for 311,000 ounces of contained gold and 4.73 million ounces of contained silver1,2Inferred resource of 3,733,000 tonnes averaging 3.08 g/t gold and 58 g/t silver for 370,000 ounces of contained gold and 6.98 million ounces of contained silver 1,2Grade increased 15% and silver-equivalent ounces by 345% to 30.4 million silver equivalent ounces in the indicated-resource category1Information announced by First Majestic on March 30, 2020Metal prices used by First Majestic for mineral resource estimates were US$18.50/oz silver and US$1,450/oz gold First Majestic also announced plans to invest US$29.1 million in Ermitaño mine development, mine equipment and materials handling (see Annual Information Form filed March 30, 2020). A prefeasibility study detailing development and production plans is expected to be released in the fourth quarter of this year (First Majestic news release of February 24, 2020).The entirety of the Ermitaño resource, including metallurgical recoveries and underground cut-off grades used in resource estimations, can be viewed in First Majestic's 2019 Annual Information Form filing at www.sedar.com.\"We are very pleased to see that the 33,000 metres of drilling completed by First Majestic at Ermitaño in 2019 has contributed to increased gold and silver grades, and added ounces to the overall resource,\" commented Evrim CEO Paddy Nico...