Everton Resources Inc. ("Everton") (TSX VENTURE:EVR)
(FRANKFURT:ERV) announces the following updates in connection with
its on going exploration programs in the Dominican Republic.
"This update confirms the execution of our exploration strategy
for the Dominican Republic is on track," said Andre Audet, Chairman
and CEO of Everton Resources.
"We've only achieved a small portion of our APV South drilling
objectives as deep-drilling geology and mechanical obstacles slowed
our progress. With only five holes reporting though, we're still
some way from unlocking APV's potential."
"The mechanical problems that beset our initial drilling - which
are typical of a new drilling program - have been resolved and
we're moving forward now with confidence," said Mr. Audet, adding
that the company is now well-positioned for building additional
shareholder value after re-negotiating an agreement with Brigus
Gold Inc., to acquire 100% ownership of the APV, Ponton and La
Cueva concessions.
"Ponton is a new discovery some 20 kilometers east of Pueblo
Viejo. While this project is at the earliest stage, we see great
potential here for next year," he said.
The updates are as follows:
Ampliacion Pueblo Viejo
Since the start of the deep drilling program in March, a total
of 4928.87 metres have been completed in nine drill holes. Of
these, four holes were aborted before reaching target depth due to
mechanical or ground difficulties. We are currently drilling hole
44 and 45.
The highlights of the ongoing drilling program are as
follows:
1. Hole APV11-33 intercepted four thick intervals of strongly anomalous
gold and copper (54.00 m @ 0.29 g/t Au and 0.12% Cu; 44.20 m @ 0.12 g/t
Au, 51.85 m @ 0.12 g/t Au and 38.05 m @ 0.16 g/t Au).
2. Hole APV11-36 intersected 39.65m @ 0.25 g/t Au and 0.18% Cu
3. Holes APV11-38 and APV11-39A succeeded in penetrating below the silica
lithocap achieving depths of 817.65 and 804.15 m respectively. At depth
a monzonite-diorite-granodiorite porphyritic intrusives complex was
detected which exhibits mineralisation style typical of porphyry copper-
gold-molybdenum systems. The possibility exists of finding either
structurally controlled mineralisation or large bulk tonnage porphyry
Cu-Au-(Mo) mineralisation. A research project with participation of
Universidad de Barcelona and the George Washington University has been
initiated to characterise these porphyry related intrusives.
Results
Table of drill holes completed to date and status of
assaying:
----------------------------------------------------------------------------
Hole Target TD_m Status Drilling Status Assay
Reports
----------------------------------------------------------------------------
APV11-33 Arroyo Hondo North 437.15 Completed Completed
/Aborted
----------------------------------------------------------------------------
APV11-36 Arroyo Hondo South 513.70 Completed Completed
----------------------------------------------------------------------------
APV11-37 Miguel de Pena 357.00 Completed Completed
/Aborted
----------------------------------------------------------------------------
APV11-38 Arroyo Candito / East 817.65 Completed Completed
Colorado
----------------------------------------------------------------------------
APV11-39 Arroyo Hondo North 18.10 Completed Completed
/Aborted
----------------------------------------------------------------------------
APV11-39A Arroyo Hondo North 804.15 Completed Completed
----------------------------------------------------------------------------
APV11-40 Silica Ridge 475.80 Completed Pending
----------------------------------------------------------------------------
APV11-41 Loma La Cuaba 1000.85 Completed Pending
----------------------------------------------------------------------------
APV11-42 Pinnacle Hill 123.97 Completed Pending
/Aborted
----------------------------------------------------------------------------
APV11-43 Pinnacle Hill 380.5 Completed Pending
----------------------------------------------------------------------------
APV11-44 Pinnacle Hill In progress Pending
----------------------------------------------------------------------------
APV11-45 Pinnacle Hill In progress Pending
----------------------------------------------------------------------------
Note: holes APV11-34 and APV11-35 are located within the La
Lechoza prospect.
Click here to view map.
For more details, click here
The lithological units intersected in these holes coincide with
the rocks mapped at the surface during the various geologic mapping
campaigns conducted by Everton including andesite and andesitic
lithic tuffs, dacite porphyries and minor sediments. The rocks in
the lithocap show the same intense advanced argillic
(quartz-pyrophyllite-alunite-kaolinite) and zones of strong massive
silicification. Shearing and brecciation is related to north to low
angle trust faulting that have dislocated the stratigraphic
sequence. Mineralisation is pervasive throughout the lithocap as
disseminated to locally massive sulphides and as veining stockwork.
The units subjacent to the lithocap are a complex intrusive with
varied lithologies including diorite, monzo-diorites and minor
tonalite, ranging from fine grained to porphyritic in texture.
These rocks show little deformation.
Holes APV11-33, APV11-36 and APV11-39 were drilled along the
border of the Ampliacion Pueblo Viejo concession to explore
possible mineralised structures extending from the adjacent pits of
Arroyo Hondo I and II.
Hole APV11-37 was located on the western end of the concession
and was designed to test multi-element rock and soils geochemical
anomalies. The hole was abandoned before reaching target depth.
Hole APV11-38 was drilled close to the southern limit of the
concession and on the edge of the lithocap to test geochemical
anomalies and alteration assemblages that include a cluster of
occurrence of alunite and dickite.
Ponton
Preliminary results of the detailed surface reconnaissance and
soil and float sampling programme conducted on the property are as
follows: A multi-element (Au-Ag-Cu-Zn-Mo-Pb-Sb-Hg) soil geochemical
anomaly on Loma Majagual measuring 2.4 x 1.2 km has been defined.
Among the highlights was a rock sample that returned: 0.61 g/t Au,
29.8 g/t Ag, 0.63% Cu, 0.13% Zn, 136 ppm Mo and 498 ppm Pb.
The geochemical anomaly coincides with a broad area of advanced
argillic alteration, which until now, were undocumented.
Reconnaissance stream sediment and rock geochemistry conducted in
2007 to 2010 confirms this. Trenching is underway to refine drill
targets ahead of the first ever drilling program on the Ponton
property.
The mineralisation appears to be contiguous onto an adjacent
mineral property, which has been secured by the Company by means of
an Option to Purchase Agreement signed on September 20 with the
concession owner. By this agreement the Company has the exclusive
option for one year, which may be extended for a second year at the
Company's option, to acquire 100% ownership in exchange for a 1%
NSR to the concession owner.
Qualified Person
Hugo S. Dominguez, M.Sc., C.P.G., General Manager of Everton
Minera Dominicana S.R.L., and a qualified person in accordance with
National Instrument 43-101, is responsible for supervising the
exploration programs of Everton in the Dominican Republic and has
reviewed and approved the information contained in this news
release.
Sampling, Assaying and Quality assurance / Quality control
(QA/QC)
Personnel at the projects photograph each individual core box
from each core hole prior to measuring core recovery and
geologically logging and sampling the hole. The core is then sawn
in half with one half going to the lab and the other half kept for
reference. All sample shipments are sealed and shipped to Acme
Analytical Laboratories (R.D.) S.A. at Maimon, Dominican Republic
for preparation. A formal QA/QC programme has been initiated
including the insertion of accepted standards, duplicates and
appropriate blank material in the sample stream. Prepared samples
are then sent to the Acme Analytical Laboratories Ltd. in Vancouver
for analysis.
ACME is an ISO 9001:2008 qualified assayer that performs and
makes available internal assaying controls. Certified blanks and
standards are systematically used as part of Everton's QA/QC
program.
About Everton Resources Inc.
Everton Resources and Brigus Gold Inc., Everton's exploration
partner in the Dominican Republic, have reached an agreement
whereby Everton will acquire 100% ownership of Brigus' remaining
interest in the Ampliacion Pueblo Viejo II ("APV"), Ponton and La
Cueva concessions in the Dominican Republic. Everton is actively
exploring adjacent to the US$3.8 billion Pueblo Viejo project,
currently being developed by the world's largest gold mining
company, Barrick Gold Corporation (60%) (NYSE:ABX)(TSX:ABX) in
partnership with Goldcorp Inc. (40%) ("Goldcorp") (NYSE:GG)(TSX:G).
Planned divestiture of its 100%-owned subsidiary Hays Lake Gold
containing the Shoal Lake Gold Project in Kenora, Ontario is
expected to provide internal funding to advance the Ampliacion
Pueblo Viejo project. Everton also holds an interest in the Opinaca
region of James Bay, Quebec where the Company has partnered with
Aurizon Mines Ltd. who is advancing Everton's interest by funding
100% of all exploration work on one of the largest land packages
adjacent to Goldcorp's Eleonore gold deposit.
Maps showing the location of the properties can be found at
www.evertonresources.com.
This news release contains certain forward-looking statements
that involve risks and uncertainties, such as statements of
Everton's plans, objectives, strategies, expectations and
intentions. The words "may", "would", "could", "will", "intend",
"plan", "anticipate", "believe", "estimate", "expect" and similar
expressions, as they relate to Everton, or its management, are
intended to identify such forward-looking statements. Many factors
could cause Everton's actual results, performance or achievements
to be materially different any future results, performance or
achievements that may be expressed or implied by such
forward-looking statements. The forward-looking statements included
in this press release represent Everton's views as of the date of
the release. While Everton anticipates that subsequent events and
developments may cause its views to change, it specifically
disclaims any obligation to update these forward-looking
statements, except in accordance with applicable securities laws.
Accordingly, readers are advised not to place undue reliance on
forward-looking information. All subsequent written and oral
forward-looking statements attributable to Everton or persons
acting on its behalf are expressly qualified in their entirety by
this notice.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Mr. Andre Audet Chairman and CEO 613-241-2332
613-241-8632
(FAX)andre@evertonresources.comwww.evertonresources.com
Everton Resources (TSXV:EVR)
Historical Stock Chart
From Nov 2024 to Dec 2024
Everton Resources (TSXV:EVR)
Historical Stock Chart
From Dec 2023 to Dec 2024