03/03/2004
Everton Resources Inc. and Globesar Mining Corp. Confirm Assay Results at Dona Amanda Copper-Gold System
EVERTON RESOURCES INC. (EVR – TSXV) – is pleased to announce the results from the first drill hole at the Dona Amanda copper/gold resource, within the Bayaguana project in their Dominican Republic portfolio. Everton has the right to acquire a 50% interest in the project by making expenditures of US $1.5 million over a two year period.
The first hole, DA 19, was drilled to collect material for metallurgical testing by SGS Lakefield in Canada to assess if simple leaching to extract copper is applicable for this deposit.
The hole was mineralized from 7 metres depth to 197 metres, a total of 190 metres, with higher grade intersections as follows.
| From |
To |
m. |
Copper Total % |
Gold g/t |
| 62.5 |
129.6 |
67.1 |
0.42 |
0.31 |
| 157.00 |
166.2 |
9.2 |
0.59 |
0.21 |
The drillhole was completed at 197m and was halted in mineralization, the bottom 8 metres averaging 0.3% copper.
Hole DA 19 was drilled into the centre of the Dona Amanda copper/gold inferred resource, which consists of 45.5 million tonnes grading 0.45% copper and 0.22 g/t gold (Chénard, 2000, 2002). The deposit is open in all directions, and is located as a secondary enrichment blanket from 10 metres to over 150 metres in true depth. The deposit was previously drilled by Falconbridge between 1989 and 1990. The core from the drillhole was split and half sent to SGS Lakefield Research in Canada for Metallurgical testing, and from the mineral assemblage logged in the drillcore, much of the copper is expected to be readily leachable. Results are expected by the end of March.
The Dona Amanda copper/gold system is above or adjacent to the primary source of copper mineralization, according to Professor Bill Chavez of New Mexico Tech, who has been retained as consultant for the project. Professor Chavez is one of the world’s leading experts on copper mineralized systems. Reviewing all drill core and previous reports, he concluded that Dona Amanda is part of a very large scale high sulphidation system.
The program going forward will consist of completion of a metallurgical test program by Lakefield, deep drilling beneath the Dona Amanda mineralization, and step out drilling with the objective of increasing the size of the deposit.
Marc L’Heureux, VP of Exploration of Everton Resources, is the Qualified Person (QP) for the Bayaguana joint venture.
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
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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