04/15/2004
Everton Resources Inc. and Globestar Mining Corp. announce the first sampling results on the Cuance and Los Hojanchos concessions, Pueblo Viejo District, Dominican Republic: Second hole at Dona Amanda copper/gold target
EVERTON RESOURCES INC. (EVR – TSXV) and its partner Globestar Mining Corp. are pleased to announce the first results from the reconnaissance mapping and rock sampling on the Cuance and Los Hojanchos concessions, located along strike, 5 kilometres southeast of the world-class Pueblo Viejo Gold Mine.
The reconnaissance work has outlined an extensively mineralized zone over approximately 5.0 x 1.5 kilometres associated with topographic highs.
Mineralization consists of a series of parallel veins and strata-bound massive sulphide bands which conform to the local stratigraphy. They are hosted in fragmental volcanic units of the Los Ranchos Formation, host to Pueblo Viejo, demonstrating extensive silica and argillic alteration. The veins consist of 30% to 90% oxidized sulphides, up to 12 meters wide and oriented N300 to N360 which is consistent with the main strike observed at the Pueblo Viejo Mine.
The first round of 86 rock samples were collected in the field on both concessions, of which 7 returned gold values over 100 ppb, the highest being 1.58 g/t Au. Within the mapping program, further mineralized zones have been recognized, in the same geological formations, which have not been sampled. Further results are expected in May, as part of the ongoing systematic exploration program, which calls for geophysics, geochemistry mapping and drilling later in the year.
Everton has the right to acquire up to 50% interest in a package of three properties, namely Cuance, Los Hojanchos and Loma de Payabo by making expenditures totalling US$1,170,000 over three years, thereafter Everton can elect to earn up to 70% interest on a designated project by completing a bankable feasibility study within two additional years.
Dona Amanda
Work continues at Dona Amanda, where a 45 million tonne inferred copper/gold resource has been identified. A second hole, DA 20, a 100 metre step-out, encountered continuous mineralization from the surface to 177 m in depth with significant close-to-surface gold and higher grade copper at depth, with higher grade intersections tabled below:
| From |
To |
m. |
Copper Total % |
Gold g/t |
| 1.52 |
27.44 |
25.92 |
|
0.54 |
| 48.78 |
77.44 |
28.66 |
0.35 |
0.28 |
| including 59.45 |
77.44 |
17.99 |
0.54 |
0.08 |
| |
|
|
|
|
| 118.90 |
176.83 |
57.93 |
0.24 |
0.10 |
Marc L’Heureux, is the project Qualified Person and has reviewed this release.
The TSX Venture Exchange neither approves nor disapproves of the information contained in this News 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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