From the Wires
Everton Updates Its Recent Exploration Activities in the Dominican Republic
By: Marketwire .
Jan. 9, 2013 10:22 AM
OTTAWA, ONTARIO -- (Marketwire) -- 01/09/13 -- Everton Resources Inc. ("Everton") (TSX VENTURE:EVR)(OTCQX:EVRRF)(FRANKFURT:ERV) is pleased to provide an update for its exploration projects located in the Dominican Republic ("DR").
Ampliacion Pueblo Viejo II ("APV")
The APV property is located along the western and northern boundaries of Barrick - GoldCorp's Pueblo Viejo gold mine (Proven and Probable Reserves of 25.3 M ounces) (refer to Barrick Gold's financial statements for their year end December 31, 2011) which commenced gold production on August 14, 2012. The APV property is divided into three project areas: APV North, APV Central and APV South.
During November and December 2012 Everton carried out a detailed sampling and mapping survey in the southern sector of the Ampliacion Pueblo Viejo project, adjacent to the Monte Negro pit of the Pueblo Viejo mine. The survey consisted of auger soil and rock sampling of an area 600 x 900 metres in the target Arroyo Hondo North. It is believed that structures controlling mineralisation in the Arroyo Hondo I and II pits of Pueblo Viejo may extend into the APVS sector in this area. Previous exploration on drill holes APV09-03 and APV11-33 in this target intersected anomalous intervals of 55 metres @ 0.25 g/t and 54 metres @ 0.29 g/t Au, including 43.5 m @ 0.18% Cu.
A total of 140 auger soils and rock samples were collected. Of these, 80 samples were scanned with a Niton XRF (X-ray fluorescence) analyzer and 60 samples were sent for ICP-MS assaying at Acme Laboratories. The gold values are clustered over an area of outcrop of breccia of possible hydrothermal origin. Elevated values of Cu and Mo also occur associated with Au over the breccia.
Everton plans to follow up on these results with a close spaced diamond drilling program and a deep penetration ground IP survey aimed to locating and defining any possible structurally controlled mineralisation in this sector.
APV Figure 1
The Pun-Ponton property, which covers 6,725 ha, is situated in the south central region of the Dominican Republic approximately 20 km east of the Pueblo Viejo mine. It includes the mineral prospects of Majagual Hill, Copey Hill and Los Cumanies-Granadillo (Cumani). Majagual Hill has characteristics of porphyry Cu-Au-Mo mineralization, Copey Hill epithermal, high-sulphidation Au mineralization, and Cumani volcanogenic massive sulphide (VMS) polymetalic mineralization.
Since 2007, Everton has conducted a regional exploration program over the property including active stream sediments, soils and rock geochemistry, trenching and pit excavation and geologic mapping. No geophysical surveys have been completed on this property.
The 2011 and 2012 exploration program results define several multi-element anomalies associated with the mineral occurrences. Extensive surface hydrothermal alteration has also been mapped in the areas of the geochemical anomalies. The anomalies are principally associations of Cu-Au-Mo on Majagual Hill, Au-Ag-Cu on Copey and Cu-Zn-Au- Ag on Cumanies-Granadillo. Maximum values recorded in rock samples from these areas are 4 g/t Au, 29.8 g/t Ag, 0.63% Cu and 0.67% Zn and anomalous concentrations of Mo (136 ppm) and Pb (0.12%) (Figure 2A) (Figure 2B)
Four trenches and one hand-dug pit have been excavated on the Majagual Hill target on the site of the best gold and copper values in soils. The pit averaged 0.3 g/t Au over 15 m and a maximum value of 1.7 g/t over a 1 m interval. On the Cumanies-Granadillo target, three trenches were excavated with anomalous Cu values.
Geologic mapping and PIMA (portable infrared electromagnetic spectrometer) and XRD (X-ray diffraction) alteration mineral mapping define a zoning of alteration patterns from propylitic to phyllic and advanced argillic - potassic alterations over Majagual Hill. Textural breccias mapped in outcrop show remarkable similarity to breccias in high sulphidation epithermal systems. Two regional structural orientations have been mapped: 1) A NW-SE regional fault system parallel to the regional corridor generated during the formation of the island arc, and 2) A set of NE-SW faults (transfer structures). These second structures are syngenetic with N-S lineaments. The conceptual model of these structures is orthogonal convergence. Key elements (Au-Ag-As-Hg-Sb-B-Bi-Mo) are grouped along regional orthogonal structures. The association of these elements with an advance argillic alteration zone or transitional to potassic alteration zone delineate the centre of a hydrothermal (mineralized) system.
Everton plans to follow up on these results with extensions of these trenches, a deep penetration ground IP survey and eventually with an exploration drilling program, once the required environmental permits are obtained.
In other news, Everton announces that Viking Gold has decided to not proceed with the option agreement to earn up to a 60% interest in two mining concessions in the Dominican Republic.
Sampling, Assaying and Quality assurance / Quality control (QA/QC)
All sample shipments are sealed and shipped to Acme Analytical Laboratories (R.D.) S.A. at Maimon, Dominican Republic for preparation. 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.
Hugo Dominguez, M.Sc., C.P.G., General Manager of Everton Minera Dominicana SRL, and a qualified person in accordance with National Instrument 43-101, is responsible for supervising the exploration program and has reviewed and approved the technical information contained in this news release.
About Everton Resources Inc.
Everton is actively exploring in the Dominican Republic adjacent to the Pueblo Viejo project, currently being mined by the world's two largest gold mining companies, Barrick Gold Corporation (60%) in partnership with Goldcorp Inc. (40%) ("Goldcorp"). 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.
For further information on Everton Resources Inc. please visit 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.
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