EVERTON ACQUIRES AN OPTION ON 335 KM2 OF NEW GOLD AND COPPER CONCESSIONS IN THE DOMINICAN REPUBLIC
Everton Resources Inc. (EVR – TSX-V) is
pleased to announce that it has signed an agreement to acquire 85% interest in
the Miches Group of Concessions located in the eastern part of the Dominican
The 335 km2 project is comprised of four continuous concessions, La Guara, Leal,
Las Cayas and El Piquito, located in the Cretaceous belt of rocks of the Eastern
Cordillera. These rocks are similar in age and origin to those of the Los
Ranchos Formation, that host of the Pueblo Viejo gold-silver deposit situated
110 km to the west. Abundant gold mineralization in alluvial placer deposits has
been known and worked by local artisanal gold miners for a long time. Several
copper-gold porphyry type occurrences, associated with structural lineaments and
defined in airborne magnetic geophysical surveys, have been identified in the
area in the past.
A low density (1 sample per 2.5 km2) regional stream sediment program, recently
completed by the European Union SYSMIN program in the eastern part of the
Dominican Republic, defines a number of anomalous areas of up to 7 km in
diameter. High values up to 2.05 g/t in gold (including 18 samples over 250 ppb
gold), 142 ppm copper and 151 ppm zinc were returned in the stream sediment
samples on this project. A first phase of exploration work is planned to start
on the project over the next two weeks. It will consist mainly of reconnaissance
mapping and intensive stream sediment, and soil sampling of the anomalous
sectors outlined by the European Union SYSMIN survey. The Miches Group of
Concessions are accessible by road through the town of Miches, from where a
dense network of secondary roads allows access to the core of the project.
Everton has the option to acquire up to 85% interest in the four concessions
from two independent Dominican companies by spending a total $1,800,000 US in
exploration work and by paying option fees of $175,000 US over a period of 3
years. In the eventuality that the interest of the Dominican companies is
reduced to a 10% interest, Everton can elect to change the remaining interest of
the Dominican companies into a 2% net smelter return. Everton is the operator
for the Miches project.
In other news, Everton has decided not to pursue its second year option with
DelcoSur in Uruguay, as the project no longer met the Company’s requirements.
The project reverts back to the owner and the Company has no further commitment
related to these properties.
This press release was prepared by Marc L’Heureux, P.Geo. and Vice President
Exploration for Everton, who acts as the Qualified Person (NI 43-101) for the
Everton is a well-financed junior company that is actively exploring for gold
and base metals in the Dominican Republic and James Bay region of Quebec, in
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 address: [email protected]
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