Everton Granted Three Key Concessions in Dominican Republic
OTTAWA, ONTARIO--(Marketwired - Jun 10, 2016) - Everton Resources Inc. ("Everton" or the "Company") (TSX VENTURE:EVR) is pleased to announce that the Ministry of Energy and Mines of the Dominican Republic renewed three key exploration concessions: two of these concessions are immediately adjacent to the concession that hosts the Pueblo Viejo gold mine, with a common border within one kilometer of the open pit. The other concession is located 27 kilometers east of the Pueblo Viejo mine concession.
Everton's Chairman and CEO, André Audet commented, "We are grateful to the Dominican Government in granting these concessions and we look forward to working with them in our continuing exploration efforts in the Dominican Republic. Everton has been an active mining company in the Dominican Republic since 2004. Everton is committed to advancing our newly granted concessions both in the shadow of Barrick/Goldcorp open pit mine and by initiating an IP survey on the Arroyo Carpintero concession this summer, drilling of the priority targets generated will follow. "
NEW GRANTED CONCESSIONS:
ARROYO CARPINTERO (Formerly Pontón)
Located 27 km east of the Pueblo Viejo mine, this concession will be the initial focus of our renewed exploration efforts. This concession is interpreted to have the potential to host a world class gold-copper porphyry deposit. Soil geochemistry, trenching, and soil samples have previously defined significant anomalies, along with artisanal mining having been observed onsite. This very promising prospect is located in the Monte Plata Province and on one of the few regional volcanic centers on the "Los Ranchos Formation". The concession is not located near any ecologically restricted areas, has good access and a low population density. Surface geology, soil, and rock geochemistry sampling have returned values of 4.08 g/t Au, 30 g/t Ag, 0.63% Cu and 0.67% Zn. An IP survey followed by drilling is planned starting mid-summer 2016.
MERMEJAL ( Formerly La Cueva)
The Mermejal concession ties on to the east side of the Pueblo Viejo Mine concession. This concession contains several prospective lithologies that locally host the Cerro de Maimón open pit mine as well as several Volcanogenic Massive Sulphide (VMS) deposits, such a Loma Pesada, Loma Barbuito and Loma La Mina. The Mermejal Concession contains a gold rich VMS prospect that has been tested with 38 DDHs with its best intersection being 10.58 meters @ 2.03% Cu, 9.41% Zn, 2.96 g/t Au, and 104.9 g/t Ag. The mineralization has been interpreted to be related to a distal VMS setting and higher copper gold grade zone may be found if drill holes can be vectored using accumulated assay data and drill hole modelling.
CABIRMA DEL CERRO ("CDC") ( Formerly Ampliacion Pueblo Viejo)
The Cabirma del Cerro concession adjoins the Pueblo Viejo Mine (Barrick/Goldcorp) concession that reportedly contains approximately 15 million ounces of proven and probable gold reserves (reference: Pueblo Viejo Project Technical Report Ni 43-101, March 16, 2012). The proposed boundaries of the Pueblo Viejo open pit are only 700 m east and 1,450 m south of the Everton's Cabirma del Cerro concession boundaries
The South block is west of and adjacent to the Monte Negro pit of the Pueblo Viejo Mine. Monte Negro structures trend towards and appear to extend onto the South Block. These structures are locally associated with IP anomalies on Everton's concession and are priority exploration targets.
The Central Block: This block is 1,450 m north of the proposed northern extent of the Pueblo Viejo open pit and the Monte Negro deposit. Several north - south trending conductors have been identified by previous Everton IP surveys. These IP conductors are on strike of the Monte Negro deposit, and all of these conductors warrant further assessment.
North Block:
The North block is in Los Ranchos Formation, which is more felsic that of the Central and South blocks. It hosts a Volcanogenic Massive Sulphide (VMS) deposit (La Lechoza VMS Deposit, SGS 43-101 Report dated August 23, 2010). La Lechoza deposit has been only partly defined and will require further geophysical testing prior to drilling.
This news release was reviewed by Wade Kornik P.Geo. acting as Everton's qualified person under National Instrument 43-101.
About Everton Resources Inc.
Everton is an exploration company with concessions in the Dominican Republic adjacent to the Pueblo Viejo Mine, owned by the world's two largest gold mining companies, Barrick Gold Corp. (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 Hecla Mining Company which is advancing Everton's interest in the Opinaca B project by funding 100% of all exploration work on one of the largest land packages adjacent to Goldcorp's Eleonore gold deposit. Everton recently announced the acquisition of two properties: the Blue Sky Jackpot lithium property in Ontario and the Detour Lake gold property in Quebec.
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.
Contact
Everton Resources Inc.
Andre Audet
Chairman and CEO
613-241-2332
613-421-8406
andre@evertonresources.com
www.evertonresources.com