01/20/2004
Update on Everton's actvities drill programs in progress, metallurgical tests to be performed on Dona Amanada copper-gold deposit
EVERTON RESOURCES INC. (EVR – TSXV) is pleased to provide an update of its exploration activities in the Dominican Republic. The company is participating in drilling programs at Trinidad North and South, Dona Amanda and Dona Loretta in the Dominican Republic.
Bayaguana district -- Globestar Mining joint venture
The drill program on Trinidad South target was completed at the end of December, 2003. This program, totalling 1,770 metres for 19 holes, was designed to test selected coinciding targets of induced polarization (IP) geophysical conductors and rock samples within a 2.5-by-1.3-kilometre gold-in-soil anomaly area. Samples are being processed at the Expert Laboratory of Rouyn-Noranda, Que. All results will be received by the end of January, 2004.
A nine-hole drill program is now being conducted on the copper-gold Trinidad North target. The program aim at testing some of the IP conductors located within a 1.6-kilometre-by-300-metre copper-in-soil anomaly. This target is situated 1.4 kilometres north of the Trinidad South target. IP conductors can be followed continuously over a distance of 1.4 kilometres.
The large-scale Dona Amanda copper and gold deposit hosts an inferred resource of 45.5 million tonnes at 0.45 per cent Cu and 0.22 gram per tonne (g/t) Au (Chenard, 2000). The deposit consists of a blanket of secondary sulphide mineralization up to 120 metres thick, from a depth of 10 metres below surface, within porphyritic and tuff-brecciated dacites related to surrounding Pueblo Viejo-style volcanic domes. Recent reinterpretation of the deposit predicts good leachability, low overburden stripping and heightened interest in these copper deposits, due to the highest copper prices in 10 years. An independent research laboratory will carry out metallurgical testing from two new drill holes that are now being drilled. Results will be released within the next three months.
The Dona Loretta target returned 23.4 metres at 2.09 per cent Cu and 0.3 g/t Au in hole CC-07. It is located five kilometres east of the Dona Amanda deposit and five kilometres west of the Trinidad North target. In March, 2004, the target will be covered by a geophysical IP survey in order to define the shape and the size of the actual mineralized zone, prior to drilling. IP coverage will be extended over the alluvium overburden cover separating the Dona Amanda and Dona Loretta targets, where there is potential for these significant copper/gold occurrences to be linked.
Pueblo Viejo district
Loma el Mate concession -- Linear Gold joint venture
The first phase of an exploration program will start this week on the Linear Gold's option Loma el Mate that is contiguous with the southeast corner of the Pueblo Viejo mine, which hosts a remaining sulphide resource of 16 million ounces of gold (Placer Dome 2003 exploration brochure). Fieldwork will consist in mapping, regional reconnaissance, stream-sediment sampling and soil sampling over selected areas. Previous work by Mount Isa Minerals confirmed the presence of hydrothermally altered rocks of the Los Ranchos hosting the Pueblo Viejo mine.
Cuance, Los Hojanchos and Loma de Payabo concessions -- Globestar Mining joint venture
Exploration work will commence in February, 2004, on this group of properties: Cuance, Los Hojanchos and Loma de Payabo, located in the Pueblo Viejo district. The first phase of the exploration program will consist in mapping, soil sampling, ground geophysics and trenching over selected targets. Indications of volcanogenic massive sulphide mineralization (Cu, Zn, Au and Ag) have been encountered on the Cuance and Los Hojanchos concessions, while highly sulphidic epithermal mineralization of Pueblo Viejo-type hosted by the Los Ranchos formation is present over three kilometres on the Loma de Payabo concession.
Hydrothermal alteration at Cuance and Los Hojanchos consists of sulphidic silicification and propylitic alteration of mafic and sedimentary rocks of the Maimon formation. Sample results to date on Cuance include up to 4.07 per cent copper and 9.8 parts per million silver (sample DA-4553) and up to 2.12 g/t gold (sample DA-14599).
The first phase of exploration work on Cuance, Los Hojanchos and Loma de Payabo will be completed this summer. Followup on selected targets will consist of trenching and drilling.
For more information, please contact
Dwane Brosseau
Manager of Investor Relations
[email protected]
Tel: 604 662 4955 Fax: 604 662 4988
or
Andre Audet
Chairman & CEO
Tel: 613 769 1248 Fax: 613 241 6005
[email protected]
www.evertonresources.com
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