10/17/2006
EVERTON BEGINS DRILLING PUEBLO VIEJO TYPE TARGET
AT JOBO CLARO IN THE DOMINICAN REPUBLIC
Everton Resources Inc. (TSX-V: EVR) is pleased to announce
the commencement of an air-track drilling program on the 53 km2 Jobo Claro concession,
located adjacent to Barrick/Goldcorp’s Pueblo Viejo gold deposit, in the
Dominican Republic. The Jobo Claro concession is covered by the volcanic and
sedimentary rocks of the Los Ranchos Formation, the same rock unit that hosts
the Pueblo Viejo gold deposit. Barrick and Goldcorp are currently proposing
to spend over US$1 billion at Pueblo Viejo to bring one of the world’s
largest undeveloped gold deposits into production.
The air-track drilling program on the Jobo Claro concession is designed to
systematically drill 60 to 70 shallow holes, approximately 10 to 20 meters deep,
to penetrate the quarternary sediments cover and to test possible bedrock and
geochemical anomalies.
The Jobo Claro concession is extensively covered by thin quaternary alluvial/lacustrine
sediments and deep lateritic/saprolitic soil cover. Sporadic outcrops along
drainages and road-ways facilitates the mapping of andesites, dacites and intrusive
rocks including diorites and tonalite.
Hydrothermal alteration and evidence of mineralization is observed mostly as
gravel float in river beds that includes oxidized sulphides (gossan), jasperoid
vein quartz associated occasionally with fresh disseminated pyrite mineralization,
red ferruginous jasperoid silica and milky white quartz veins. In situ mineralization
has been observed in the north-west corner of the concession and appears as
a small area of argillic gossan (limonitic-jarositic).
The area has been covered by an airborne geophysical survey that included magnetics
and radiometrics, spaced at 1-kilometre intervals. Evaluation of this data allowed
for a broad interpretation of lithologies contacts and structures.
A regional stream sediments geochemical survey was also conducted by Everton
Resources in December 2005. A total of 131 samples were collected (approximately
2.5 samples/km2). Anomalous values of Au, Cu, Zn and Pb were obtained.
The drill program is scheduled to be completed by the end of November and assay
results should be received by mid-January.
This press release was prepared under the supervision of Marc L’Heureux,
P.Geo., Everton’s Vice-President of Exploration, who
acts as the “Qualified Person” as described by NI 43-101.
Everton Resources is actively exploring in the Opinaca region
of James Bay, Quebec where Everton Resources has amassed one
of the largest land claims adjacent to the Eleonore gold discovery, and where
Goldcorp Inc. (NYSE:GG, TSX:G) is proposing to spend several
hundreds of millions of dollars developing its recent property acquisition.
Everton Resources is also actively drilling in the Dominican
Republic adjacent to where the world’s largest gold mining company, Barrick
Gold (NYSE/TSX:ABX), is partnering with Goldcorp to
develop the 15 million ounce Pueblo Viejo gold deposit, one of the world’s
largest undeveloped gold deposits, at an estimated cost of $1.4 billion.
For more information, please contact:
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”
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