Everton Resources Inc. (EVR, TSX-V) is please to announce that the National Office of Mining and Geology of Uruguay has granted DelcoSur S.A. exclusive mineral rights to the Nueva Helvecia property on October 14, 2004. DelcoSur is a Uruguayan-based mineral exploration company in which, Everton has the option to acquire up to 100% interest. The Nueva Helvecia mineral tenement, referred to as a “cateo” in Uruguay consists of a surface area of 45 km2 located within the Florida Greenstone Belt.
Recent check sampling conducted by Peter Bambic, P.Geo., in conjunction with the preparation of a NI 43-101 Technical Report returned high gold values from several prospects located within the Nueva Helvecia property. Selected surface samples from the High Grade Prospect produced values of 238.2 g/t Au (sample #10), 5.66 g/t Au (sample #13) and 106.8 g/t Au (sample #14), all located in a network of quartz veins with minor sulphides hosted within mafic volcanics. The Campo Rovaina Prospect situated 2 km southeast from the High Grade Zone, returned 3.07 g/t Au (sample #2) from a sheared outcrop of felsic volcanics, and where historical reverse circulation drilling yielded 4.85 g/t Au over 5 meters (hole RCCR-04).
The Florida Greenstone Belt, which measures 250 km long and varies from 5 to 30 km in width, is one of the most under explored gold anomalous sequences in the world. Several applications totalling 660 km2 of prospecting permits are also currently filed by Everton’s DelcoSur option in Uruguay. The land package contains the majority of the anomalous gold drainage in the Belt based upon proprietary regional stream sediment survey of nearly 2,000 samples.
The primary ore deposit model guiding exploration on the Nueva Helvecia property and throughout the Belt is best characterized as Archean lode gold, similar to those of the Timmins, Kirkland Lake and Val d’Or camps, in Eastern Canada. Reasons to believe lode gold deposits may exist are: 1) The presence of an Archean greenstone belt with regional structures mineralized in gold; 2) Gold-bearing quartz veins within the greenstones; gold anomalies in soil and stream sediment covering a large portion of the property.
Field work is planned to begin by mid-November with efficiency on the known zones of gold mineralization utilizing prospect scale mapping and sampling followed by geophysics and trenching to identify exploration drill targets.
Field work will be supervised by Dean Williams, RPG, vice-president exploration of DelcoSur. Marc L’Heureux, P. Geo., vice-president exploration for Everton will act as the Qualified Person (NI 43-101) for this project.
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The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. The Company’s Shares are listed on the TSX Venture Exchange and trade under the symbol “EVR”.
For more information, please contact
Andre Audet- Chairman and CEO - [email protected]
Tel: 613 241-2332 Fax: 613 241 6005
www.evertonresources.com
or
Dwane Brosseau -Manager of Investor Relations - [email protected]
Tel: 604 662 4955 Fax: 604 662 4988
