12/16/2004
Update on Everton’s Exploration Activities in the Dominican Republic and Uruguay
Dominican Republic
Ottawa 16th Dec 2004. Everton Resources Inc. (TSXV-EVR) and its partner GlobeStar Mining Corporation (TSXV-GMI) are pleased to announce their 2005 exploration programs for their two joint ventures in the Dominican Republic.
The Bayaguana Joint Venture - Dona Loretta and Dona Amanda copper targets
Evaluation of the recently discovered copper-porphyry zone at Dona Loretta is in progress. As published in the July 20th and July 27th 2004 news releases, the new drilling program, based on new induced polarization (IP) data returned up to 0.6% Cu over 93 meters, including 1.1% Cu over 15.2 meters, in drill hole number CC-08, following up earlier drilling where CC-01 returned 2.0% copper over 64 metres. This first round of drilling outlined a mineralized zone covering a minimum of 500m x 300m within a gold/copper soil anomaly covering 1,400m x 800m. Most mineralization lies between 28 meters and 137 meters below surface. All geophysical data is being calibrated to the new drilling results by Lambert Geoscience in preparation for next round of deep IP early in 2005 followed by drilling later in the spring. Concurrently, metallurgical testing of core will be done in Canada in order to determine the leachable copper recoveries at Dona Loretta.
5 kilometres west of Dona Loretta lies the Dona Amanda deposit containing an inferred resource of 45.5 Mt grading 0.45% Cu and 0.22 g/t Au between 10 metres and 140 metres below surface. (see releases of March 3 and 25, 2004). Metallurgical testing by SGS Lakefield Research of Canada reported a copper recovery of up to 80% during laboratory testing simulating heap leaching. Geophysical data and soil geochemistry suggest potential for further mineralization south-east of the body. Dona Amanda will be evaluated at the same time as Dona Loretta, as any potential extractive operation would source copper and gold bearing material from both deposits as they are very close to each other. The area between the deposits covering many square kilometres has yet to be tested. Geochemical and geophysical signatures extend beneath this area, where the same volcanic formation hosting both Dona Loretta and Dona Amanda is covered by recent sediments.
Los Hojanchos, Cuance and Loma de Payabo Projects
The six-hole drilling program carried out on the Los Hojanchos property within a 2 square kilometre area of altered volcanics returned anomalous copper values. This program was targeting gold and copper-in-soil anomalies coincident with IP conductors within the Los Ranchos Formation. No further work is planned for this anomaly.
Reconnaissance work at Loma de Payabo identified potential areas for high sulfidation epithermal gold. The concession is covered by the rocks of the Los Ranchos Formation that host the Pueblo Viejo gold deposit. A mapping and sampling program is planned to begin in January 2005.
The next phase of exploration work will focus on the Cuance property, 10 kilometres south east of Placer Dome’s Pueblo Viejo gold deposit. The work will consist of re-interpretation of the 1983 Dighem electromagnetic airborne survey, ground-truthing of the conductors and systematic follow-up with IP surveys to better delineate drill targets. The conductors are located within the Maimon Formation, which hosts Cerro de Maimon (4.1 Mt at 2.9% Cu, 1.8% Zn, 35 g/t Ag, 1.0 g/t Au) and Loma Pesada (1.1 Mt at 2.13% Cu, 0.77% Zn, 4.37 g/t Ag, 0.16 g/t Au) polymetallic deposits, as reported in the Globestar’s annual report. The Cerro de Maimon project is subject to a feasibility study.
Uruguay
Nueva Helvecia concession
The exploration work has started last week on the Nueva Helvecia property, in Uruguay. The first part of the program consists in orientation stream and soil surveys within the concession. A prospection campaign assisted with Beep-Mat geophysics to identify metallic conductors will commence in mid-February for a period of at least three months.
The Nueva Helvecia property forms part of the Florida Greenstone Belt (FGB), which is a dissected greenstone terrain of Archean age, composed of mafic to felsic volcanics and sediments intruded by granitoids, gabbros and felsic porphyries. Gold mineralization was first reported on the FGB in 1984. Historical prospecting up stream from several of anomalies led to the discovery of in situ gold mineralization at the Campo Rovaina and High Grade prospect areas. As reported in press release of October 27th, 2004, selected samples from quartz veins in Trench #13 of the High Grade Zone, returned up to 238 g/T Au, in sample #10, and 106 g/T Au, in sample #14. Mineralization is mesothermal and associated with quartz veining and shear zones. Controls of gold mineralization included age of the host rocks, proximity to large structures, favorable lithologic hosts and primary porosity.
Marc L’Heureux, P. Geo., vice-president exploration of Everton acts as the NI 43-101 Qualified Person for the projects in the Dominican Republic, while Dean K. Williams, P. Geo., vice-president exploration for DelcoSur S.A., is the Qualified Person for the Nueva Helvecia project , in Uruguay.
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
André Audet
Chairman & CEO
Tel: 613 241 2332 Fax: 613 241 6005
[email protected]
www.evertonresources.com
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