Evrim Resources has proclaimed that the exploration activity is in progress at the Arroyo Amarillo copper project in Mexico. Vale Exploration Canada funds and oversees the exploration work.
Vale may purchase up to a 60% interest in the Arroyo Amarillo project of Evrim by earning US$4,000,000 in exploration expenses and paying cash of $400,000, and may select to earn an additional 10% interest in the project by funding exclusively and sending an NI43-101 compliant feasibility study.
The primary work at the project will contain property scale geochemical sampling and geological mapping, to outline the mineralization and alteration assemblage distribution. When this primary work is completed, Vale will perform an estimated 1000 line-km of airborne ZTEM and IP geophysical surveys to discover huge structural and alteration models, which may control the mineralization.
The Arroyo Amarillo project encloses around 200 sq km of underexplored ground, which is situated 180 km in the southeast direction of Hermosillo. Polymetallic veins with considerable silver in an extensive phyllic and propylitic alteration zones in the Late Cretaceous age andesite are hosted by the project. This mineralization is inferred to be conserved at the crest of a porphyry molybdenum-copper system, which has not been examined under the existence of a polymetallic vein. There are magnetic targets contagious to the polymetallic veins and the targets are situated in a graben filled along with post mineral rocks. The company has encountered 1405.0 g/t silver, 2.72 g/t gold, 2.43% zinc, 1.19% copper and 16.15% lead from the surface grab sampling at the Arroyo Amarillo project.
Source: http://www.evrimresources.com/