Everton and Brigus Gold Extend VMS Mineralized Zone at La Lechoza and Prepare Phase 2 Drilling at Pueblo Viejo West
OTTAWA, ONTARIO -- (Marketwire) -- 12/20/10 -- Everton Resources Inc. (TSX VENTURE: EVR)(FRANKFURT: ERV) and its partner Brigus Gold Corp. (TSX and NYSE Amex: BRD) are pleased to report key advancements towards a resource calculation with VMS - polymetalic intersections made during the diamond drilling program currently underway at the La Lechoza Prospect. Everton and Brigus currently each own a 50% undivided interest in the property. However, Everton can increase its interest to 70% by spending another US$2.5M in exploration by April 10, 2012.
Highlights from holes APV10-13 to APV10-18 include:
Hole APV10-13: 2.56 g/t Au, 47.2 g/t Ag, 1.42% Cu and 4.44% Zn over 7.50 m.
Hole APV10-14: 0.50 g/t Au, 10.2 g/t Ag, 0.21% Cu and 0.79% Zn over 9.00 m.
Hole APV10-15: 1.30 g/t Au, 43.4 g/t Ag, 0.46% Cu and 6.63% Zn over 6.90 m.
Hole APV10-16: 1.85 g/t Au, 35.6 g/t Ag, 0.28% Cu and 2.92% Zn over 13.42 m.
Hole APV10-18: 0.37 g/t Au, 5.2 g/t Ag, 0.21% Cu and 0.62% Zn over 16.91 m.
All of the drill holes are located in the developing sector named Pon Hill and have all intersected sulphide mineralization both as disseminated stockwork and as volcanogenic massive to semi-massive sulfides with related hydrothermal alteration. Several intercepts have been made in the supergene secondary enrichment zone. Values of up to 17.1 g/t Au, greater than 100 g/t Ag, 4% Cu and 22% Zn were intersected during this current drilling campaign. (see map at www.evertonresources.com)
'We are pleased to advance Phase II of our drill program at Everton's Pueblo Viejo West project adjacent to the Barrick/Goldcorp Pueblo Viejo mine site. In the meantime, we are also pleased to announce advancements in extending the mineralized zone at the La Lechoza project to an area of 700 meters by 600 meters. The mineralized system now defines a strike length of over 2.1 kilometers. We will continue to build on these VMS polymetalic results into the new year and look forward to establishing a copper, gold, silver, and zinc resource in the very near future,' commented Andre Audet, Everton's Chairman and CEO.
All of these intersects are believed to be near true width's thickness. Core recoveries for the intervals averaged 87%.
Table of assay intercepts:
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Hole APV10-13 - Pon Hill (-75 degrees )
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From(m) To(m)Length(m) Au(g/t) Ag(g/t) Cu(%) Zn(%) Comments
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Secondary
Enriched,
semi-massive
14.00 21.50 7.50 2.56 47.2 1.42 4.44 sulfides
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Secondary
Enriched,
semi-massive
21.50 27.50 6.00 0.11 2.92 0.46 0.62 sulfides
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Disseminated
stockwork
27.50 34.10 6.60 0.06 3.00 0.30 0.33 footwall zone.
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Hole APV10-14 - Pon Hill (-70 degrees )
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From (m) To(m)Length(m) Au(g/t) Ag(g/t) Cu(%) Zn(%) Comments
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11.00 20.00 9.00 0.50 10.20 0.21 0.79 Oxide Zone
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20.00 24.50 4.50 0.32 15.10 - 0.25 Oxide Zone
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Sulfide
106.00 109.00 3.00 0.39 3.21 0.39 - stringers
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Hole APV10-15 - Pon Hill (-75 degrees )
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From (m) To(m)Length(m) Au(g/t) Ag(g/t) Cu(%) Zn(%) Comments
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Secondary
Enriched,
massive
44.00 50.90 6.90 1.30 43.4 0.46 6.63 sulfides
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Massive
54.62 58.40 3.78 0.18 5.4 0.17 2.24 sulfide
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Semi-massive
58.40 62.70 4.30 0.08 2.3 0.38 0.25 sulfide
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Hole APV10-16 - Pon Hill (-75 degrees )
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From (m) To(m)Length(m) Au(g/t) Ag(g/t) Cu(%) Zn(%) Comments
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Secondary
enrichment
27.58 41.00 13.42 1.85 35.6 0.28 2.92 zone.
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Including
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Secondary
Enriched,
massive
27.58 31.00 3.42 6.42 108.2 0.84 8.17 sulfides
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Semi-massive
35.65 41.00 5.35 0.35 14.9 0.15 2.03 sulfide
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Hole APV10-17 - Pon Hill (-75 degrees )
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From (m) To(m)Length(m) Au(g/t) Ag(g/t) Cu(%) Zn(%) Comments
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Massive
133.50 134.50 1.00 0.07 5.7 0.13 2.79 sulfide
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Disseminated &
184.90 187.00 2.10 0.06 1.90 0.20 0.44 stockwork
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Hole APV10-18 - Pon Hill (-55 degrees )
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From (m) To(m)Length(m) Au(g/t) Ag(g/t) Cu(%) Zn(%) Comments
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Secondary
Enriched,
semi-massive
129.09 146.00 16.91 0.37 5.15 0.21 0.62 sulfides
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Including
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136.00 137.00 1.00 0.73 11.40 0.51 0.65
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Assays for holes APV10-19 through APV10-26 are pending. Drilling of Hole APV10-27 is currently underway.
The program began October 7, 2010 with a one-man portable Hydracore core drill at the La Lechoza Prospect in the Northern Sector of the Ampliacion property. A second drill was added November 27th at the North Manuel showing in the Central Sector of the property (see news release October 6, 2010). A third drill is expected to be mobilized early January. To date a total of 14 holes have been completed for a total of approximately 2,019 meters.
Diamond Drilling Program
The complete Phase I program consists of approximately 6,000 meters in 20 to 25 holes ranging in depth between 100 and 400 meters. This program is designed to follow-up on targets identified during the 2009 and 2010 drilling phases, as well as the surface exploration conducted on the Arroyo Hondo, Pinnacle Hill, Colorado and La Lechoza prospects, where hole APV 09-24 cut 583 g/t Ag, 0.4 g/t Au and 0.2% Cu across 17 meters, and Trench LT-11, cut across the gossan at North Hill, returned values of 6.6 g/t Au and 19 g/t Ag across 22 meters (see map at www.evertonresources.com).
A Phase II program that consists of deep drilling is slated to commence in early 2011, as soon as adequate equipment is on site. This program will include 10,000 meters in 8 to 12 holes averaging between 800 and 1200 meters. The purpose of this program is to test the deep portions of the mineralization system inferred to occur beneath a barren silica lithocap in the southwestern sector of the Ampliacion Pueblo Viejo concession.
Qualified Person and QA/QC Assurance
This news release was reviewed by, and all recent fieldwork was performed under the supervision of Robert Wheatley, P. Geo., who is a qualified person as defined by National Instrument 43-101. Mr. Wheatley is not an independent person as he is Vice President, Exploration for Everton.
Personnel, at the project, photograph each individual core box from each core hole prior to measuring core recovery and geologically logging the hole. The core is then sawed 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 for preparation. Prepared samples are then sent to the Acme Analytical Laboratories Ltd. ('Acme') in Vancouver for analysis. Acme's quality control system complies with the requirements for the International Standard ISO 9001:2000. Analytical accuracy and precision are monitored by the insertion and analysis of blanks, reference standards and duplicate samples. Everton's Quality Control is further assured by the use of in-house blanks.
In Other News:
Further to an option agreement between the Company, its subsidiary Hays Lake Gold Inc. and the Optionors on the Priske Township property (the ''Property'), the Board of Directors approved the issuance of 40,000 common shares of the Company to the Optionors in exchange for a six-month extension until May 19, 2011 to incur the $30,000 exploration work commitment on the Property. The common shares are subject to a four-month holding period and to the approval of TSX-Venture Exchange.
Everton
Everton is partnered with Brigus Gold on actively exploring in the Dominican Republic adjacent to the US$3 billion Pueblo Viejo project, currently being developed by the world's largest gold mining company, Barrick Gold Corporation (60%) (NYSE/TSX: ABX) in partnership with Goldcorp (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.
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:
Everton Resources Inc.
Andre Audet, Chairman and CEO
613-241-2332
613-241-8632 (FAX)
andre@evertonresources.com
Everton Resources Inc.
Gary Economo, Manager, Corporate Communications
613-241-2332
613-241-8632 (FAX)
gary@evertonresources.com
www.evertonresources.com