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Evrim, First Majestic to kick off drilling at Ermitaño gold-silver property in Mexico

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Evrim, First Majestic to kick off drilling at Ermitaño gold-silver property in Mexico

EvrimResources Corp. and First Majestic Silver Corp. plan to start a 2,000-meterdrill program in August on the Ermitaño gold-silver property in Sonora, Mexico, tofollow up on drilling in 2015.

The US$640,000 program, which will focus on the ErmitañoWest area, aims to test the principal quartz vein and subparallel veins andstockworks, according to a July 13 statement.

Drilling at Ermitaño East in 2015 intersected anomalous goldthroughout two of three holes, while 20 of 912 rock samples taken at ErmitañoWest exceeded 1.0 g/t of gold to a maximum of 6.63 g/t of gold.

First Majestic has the option to earn a 100% interest in theErmitaño property by paying US$75,000 upon signing the agreement and a furtherUS$50,000 annually, completing a minimum of US$500,000 in explorationexpenditures in the first year and delivering a production notice specifyingmine and construction plans with accompanying permits.