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Evrim trenches 193.5m at 2.09g/t gold

Evrim Resources (CN:EVM) says the initial results are “very impressive” from exploration at the La Gloria zone at its Cuale project in Mexico after a trench sample included 193.5m at 2.09g/t gold.
Evrim trenches 193.5m at 2.09g/t gold Evrim trenches 193.5m at 2.09g/t gold Evrim trenches 193.5m at 2.09g/t gold Evrim trenches 193.5m at 2.09g/t gold Evrim trenches 193.5m at 2.09g/t gold

Trenching at La Gloria brings impressive results

Staff reporter

Shares in the company shot up to touch a 52-week high intraday of C75c.

The result was part of a broader 351.8m that graded 1.28g/t from surface along the entire length of Trench 1.

Evrim's vice-president of new opportunities and exploration Charles Funk said the initial results were impressive in terms of grade and size potential.

He said IP geophysics had highlighted a 100m deep by 300m long high resistivity zone below the trenches, with a possible feeder zone at depth and a prospective new zone 400m west.

Results from further trenching are pending.

The company staked additional ground around Cuale in February, saying it was "one of the most exciting grass-roots exploration projects to have surfaced in Mexico in recent history".

It has exploration partnerships over most of its projects, including Ball Creek in British Columbia where Antofagasta (LN:ANTO) has a US$31 million earn-in, but owns Cuale 100%.

Its cash position increased to C$5.5 million (US$4.3 million) last month after receiving proceeds of just over C$3 million (US$2.4 million) from the exercise of accelerated share purchase warrants.

Evrim shares traded between C20-30c for much of the past year, and closed up 36.08% yesterday to 66c, a 164% rise year-to-date.