Evrima Plc Investee Update: Eastport Ventures Launch Selebi Project

 
TIDMEVA 
 
23 August 2022 
 
                                  Evrima plc 
 
                          ("Evrima" or the "Company") 
 
Investee Update: Eastport Launch Exploration Campaign at its 100%-owned Selebi 
Copper Nickel Project to the southeast of Premium Nickel Resources Ltd (TSX-V: 
                                     PNRL) 
 
Evrima is pleased to provide an update on its position in investee company, 
Eastport Ventures Inc. ("EPV" or "Eastport") with respect the commencement of 
an exploration campaign at its 100%-owned Selebi Copper Project, the project is 
located to the southeast of Premium Nickel Resources Ltd ("PNRL")(TSX-V: PNRL) 
Selebi mines for which Evrima and Eastport both maintain investment interest. 
The Company currently holds 3,377,888 ordinary shares of Eastport representing 
approximately, 6.85% of Eastport's current issued share capital. In addition to 
the Company's equity interest, Evrima holds a further 1,500,000 warrants with a 
strike price of $0.30c (CAD) and a life to expiry of 5-years from grant (17 
June 2027). Should Evrima elect to exercise its warrants, the Company would 
have an interest of approximately 10% of Eastport. 
 
Eastport Launch Exploration Campaign at its 100%-owned Selebi Coper Project to 
the southeast of Premium Nickel Resources Ltd 
 
Following Eastport's investment in PNRL, in early 2020 Eastport evaluated the 
potential nickel-copper opportunities in the Selebi-Pikwe district to generate 
enhanced optionality across the company. Subsequent to a period of analysis, 
EPV acquired four prospecting licences (PL's) covering approximately 2,100 km2 
to the southeast of the PNRL mines. 
 
The new Selebi project PL's cover extensive areas of folded mafic/ultramafic 
geology of similar age to the PNRL mine area. Historical reports feature nickel 
and copper soil anomalies, both extensive and isolated airborne conductors, and 
anomalous drill hole intersections. Together, these works indicate 
opportunities for hidden sulphide mineralisation, similar to the very large 
PNRL massive sulphide deposit, under the widespread relatively thin sand cover. 
 
Airborne Re-Processing 
 
Following the receipt of the four licences, Eastport acquired the historic 
airborne magnetic, electromagnetic, radiometric surveys as well as several 
satellite layers. Re-processing, and in particular the use of the high-quality 
radiometric data, successfully overcame the significant interference caused by 
the Limpopo Dyke swarm cutting the licence area. Extensive areas of mafic/ 
ultramafic geology were outlined, and a number of exploration target areas were 
identified. 
 
Selebi Exploration Campaign 
 
The Eastport programme will initially focus on soil sampling in areas deemed 
favourable for mineral deposits recognized during the first phase of 
exploration; airborne re-processing and archive research. A regional stream 
sampling survey is also planned. 
 
The programme, scheduled for Q3-4 of this year, will focus on with areas of 
coincident historic soil and electromagnetic ("EM") signatures for example in 
the Tuni area ("Tuni"). There, the targets are associated with coincident 
folded mafic/ultramafic geology, anomalous copper and/or nickel in soils and 
weak to moderate airborne conductors. A historic drill result in the Tuni area 
(Tsetsejwe East target) reported: 1.1% Cu in brecciated ultramafic. 
 
In the Kwena area, an EM anomaly is associated with a 2.4km long nickel and 
copper soil anomaly. Drilling within this anomaly intersected 18m of copper and 
nickel mineralized mafic/ultramafic rock grading up to 0.9% Cu and 0.24% Ni. 
 
Many other anomalous areas were revealed in the research. The map locates a 
number of these and each will be considered for follow up during the next six 
to twelve months. 
 
Social Requirements 
 
Eastport has also established good relationships with a number of the local 
communities within the PL's. Each has committed to assisting Eastport with 
logistical and field staffing requirements. Our group values these 
relationships, and we are looking forward to mutually beneficial operations. 
 
Related Party Disclosure 
 
Burns Singh Tennent-Bhohi (CEO & Director & Shareholder of Evrima plc) is 
Founder, Shareholder, Executive Chairman, and CEO of Eastport Ventures Inc. Guy 
Miller (Director & Shareholder of Evrima plc) is a shareholder of Eastport 
Ventures Inc. 
 
The Directors of Evrima accept responsibility for this announcement. 
 
This announcement contains information which, prior to its disclosure, was 
inside information as stipulated under Regulation 11 of the Market Abuse 
(Amendment) (EU Exit) Regulations 2019/310 (as amended). 
 
                                     Ends - 
 
Enquiries  : 
 
Company: 
Burns Singh Tennent-Bhohi (CEO & Director): burns@evrimaplc.com 
 
Simon Grant-Rennick (Executive Chairman): simon@evrimaplc.com 
 
Novum Securities Limited (AQSE Corporate Adviser): 
 
David Coffman / Lucy Bowden: + 44 (0) 20 7399 9400 
 
 
 
END
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