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Evrim Options Cumobabi Property to SilverCrest Mines
Vancouver, British Columbia--(Newsfile Corp. - November 18, 2014) - Evrim Resources Corp. (TSX...
About this update from Orogen Royalties Incorporation
[{"type":"text","content":"Evrim Options Cumobabi Property to SilverCrest MinesVancouver, British Columbia--(Newsfile Corp. - November 18, 2014) - Evrim Resources Corp. \n(TSXV: EVM) (\"Evrim\" or the \"Company\") is pleased to announce it has signed a \nfive year option agreement (the \"Agreement\") with SilverCrest Mines Inc. \n(\"SilverCrest\") whereby SilverCrest can acquire a \n100% interest in the Company's Cumobabi Property (\"Cumobabi\") in Sonora, Mexico, \n25 kilometres southeast of SilverCrest's mine operations at Santa Elena and \nadjacent to the Ermitaño Property. \nPaddy Nicol, President and CEO of Evrim commented that \n\"SilverCrest's acquisition of the Cumobabi project significantly consolidates \nSilverCrest's land position in the greater Cumobabi district. When combined with \nthe recently acquired Ermitaño Property, SilverCrest now controls over 300 \nsquare kilometres of ground prospective for gold and silver resources for the \nSanta Elena mine. This transaction advances exploration of gold and silver for \nCumobabi and aligns with Evrim's vision for potential future cash flow.\"\nSilverCrest can earn a 100% interest in Cumobabi by paying \nUS$75,000 upon signing the Agreement and US$50,000 each anniversary thereafter, \ncompleting a minimum of US$500,000 in exploration expenditures by the second \nanniversary, and delivering a Production Notice specifying mine and construction \nplans with accompanying permits. Upon vesting, SilverCrest will no longer be \nrequired to make the annual payments and Evrim will retain a 1.5% Net Smelter Royalty (\"NSR\"). \nAbout the Cumobabi Property \nThe Cumobabi project consists of 137 square kilometres in a \nproven mining district in Sonora, Mexico. The underlying geology is comprised of \nCretaceous andesite volcanic centres intruded by Laramide age granodiorite and \nquartz-feldspar porphyries. Epithermal characteristics, including large \nhydrothermal cells of argillic to advanced argillic alteration, quartz veining \nand anomalous epithermal style geochemistry are also present. No exploration on \nthe property to date has specifically targeted epithermal gold-silver \nmineralization. \nThe property is held 100% by Evrim Resources Corp. subject to a \n2% NSR. Cumobabi covers the majority of the Cumobabi breccia district and \nsurrounds the past producing Cumobabi mine. \nAbout Evrim R...