Everton Commences 20,000-Metre Deep Drilling Program at Ampliacion Pueblo Viejo
March 23 2011 - 7:30AM
Marketwired
Everton Resources Inc., (TSX VENTURE: EVR)(Frankfurt: ERV)
announces the commencement of a pioneering silica lithocap deep
drilling program at Ampliacion Pueblo Viejo, immediately adjacent
to Barrick/Goldcorp's Pueblo Viejo gold deposit in the Dominican
Republic.
"This is a first of its kind and possibly one of the most
ambitious gold exploration drilling programs undertaken in the
Dominican Republic," said Andre Audet, President and CEO of Everton
Resources Inc.
"Ample evidence exists that Barrick's Pueblo Viejo's deposit
runs onto and through Everton's property," said Mr. Audet. "Now the
excitement of validating our evidence has begun. We have high
expectations of confirming that with our 600-metre and 1200-metre
capable drills"
This is the first time deep diamond core drilling has been used
in the Dominican Republic, a nation with a rich mining history.
Everton announced earlier this year their intention to undertake a
20,000 meter drill program on Everton's southern property
immediately adjacent to Barrick's/Goldcorp's which holds a proven
23.7 million ounces of gold reserves.
"This is what our investors have been waiting for," Mr. Audet
said. "This is that period where nature, theory, technology and
luck coalesce. This is the junior gold explorer story of the year
and it starts now."
Hugo Dominguez, Country Manager, Dominican Republic, said in his
30 years of mining experience, "this project is the exploration
geologists' dream."
"Since we started our exploration here, in 2007, we have
discovered too many indications that mineralization on our property
mirrors that of nearest neighbour," said Mr. Dominguez.
The drilling program will be conducted by the local contractor
Geocivil, S.A., in partnership with Cubanex and Heath and Sherwood.
The program contemplates two phases starting with a series of holes
400 to 600 meters deep, along the boundary of the concession to
explore the mineralized structures that may extend from the Monte
Negro and Arroyo Hondo pits of the Pueblo Viejo complex. These
structures have been interpreted from a combination of detailed
geological mapping, soils and rock geochemistry and ground and
airborne geophysics.
The second phase of the deep drilling program is expected to
start in late April when a brand new Rolatec diamond drill rig that
is currently being assembled in Spain for this program, arrives in
the country.
The drilling through the silica lithocap is aimed to test the
theory that underneath lies a shallow level porphyritic intrusion
that, in turn, may be associated with porphyry style copper-gold
mineralization as documented in similar geological environments.
The second phase of drilling is contemplated to include 8 to 12
holes ranging from 800 to 1200 metres.
This press release was reviewed by Robert Wheatley, P. Geo. and
VP Exploration of Everton, who acts as Everton's Qualified Person
as defined by NI 43-101. 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 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 for preparation.
Prepared samples are then sent to the Acme Analytical Laboratories
Ltd. in Vancouver for analysis. Acme's quality control system
complies with the requirements for the International Standard ISO
9001:2000 by monitoring analytical accuracy and precision with 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. The use of certified standards and independent
analysis of duplicate samples is being initiated.
Everton
Everton and Brigus Gold Corp (TSX: BRD)(NYSE AMEX: BRD) each
hold a 50% interest in the Ampliacion Pueblo Viejo property 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: ABX)(TSX:
ABX) in partnership with Goldcorp (40%) ("Goldcorp") (NYSE:
GG)(TSX: G). Everton is the project operator and has the right to
earn an additional 20% by incurring additional expenditures.
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
www.evertonresources.com
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