Everton Commences 20,000-metre Deep Drilling Program at Ampliacion Pueblo Viejo
OTTAWA -- Everton Resources Inc., (TSX-V: EVR, Frankfurt: ERV) announces the commencement of a pioneering silica lithocap deep drilling program at Ampliación Pueblo Viejo, immediately adjacent to Barrick/Goldcorp's Pueblo Viejo gold deposit in the Dominican Republic.
"This is a first of its kind and possibly one of the most ambitious gold exploration drilling programs undertaken in the Dominican Republic," said Andre Audet, President and CEO of Everton Resources Inc.
"Ample evidence exists that Barrick's Pueblo Viejo's deposit runs onto and through Everton's property," said Mr. Audet. "Now the excitement of validating our evidence has begun. We have high expectations of confirming that with our 600-metre and 1200-metre capable drills"
This is the first time deep diamond core drilling has been used in the Dominican Republic, a nation with a rich mining history. Everton announced earlier this year their intention to undertake a 20,000 meter drill program on Everton's southern property immediately adjacent to Barrick's/Goldcorp's which holds a proven 23.7 million ounces of gold reserves.
"This is what our investors have been waiting for," Mr. Audet said. "This is that period where nature, theory, technology and luck coalesce. This is the junior gold explorer story of the year and it starts now."
Hugo Dominguez, Country Manager, Dominican Republic, said in his 30 years of mining experience, "this project is the exploration geologists' dream."
"Since we started our exploration here, in 2007, we have discovered too many indications that mineralization on our property mirrors that of nearest neighbour," said Mr. Dominguez.
The drilling program will be conducted by the local contractor Geocivil, S.A., in partnership with Cubanex and Heath and Sherwood. The program contemplates two phases starting with a series of holes 400 to 600 meters deep, along the boundary of the concession to explore the mineralized structures that may extend from the Monte Negro and Arroyo Hondo pits of the Pueblo Viejo complex. These structures have been interpreted from a combination of detailed geological mapping, soils and rock geochemistry and ground and airborne geophysics.
The second phase of the deep drilling program is expected to start in late April when a brand new Rolatec diamond drill rig that is currently being assembled in Spain for this program, arrives in the country.
The drilling through the silica lithocap is aimed to test the theory that underneath lies a shallow level porphyritic intrusion that, in turn, may be associated with porphyry style copper-gold mineralization as documented in similar geological environments. The second phase of drilling is contemplated to include 8 to 12 holes ranging from 800 to 1200 metres.
This press release was reviewed by Robert Wheatley, P. Geo. and VP Exploration of Everton, who acts as Everton's Qualified Person as defined by NI 43-101. Personnel, at the project, photograph each individual core box from each core hole prior to measuring core recovery and geologically logging the hole. The core is then sawn in half with one half going to the lab and the other half kept for reference. All sample shipments are sealed and shipped to Acme Analytical Laboratories (R.D.) S.A. at Maimón for preparation. Prepared samples are then sent to the Acme Analytical Laboratories Ltd. in Vancouver for analysis. Acme's quality control system complies with the requirements for the International Standard ISO 9001:2000 by monitoring analytical accuracy and precision with the insertion and analysis of blanks, reference standards and duplicate samples. Everton's Quality Control is further assured by the use of in-house blanks. The use of certified standards and independent analysis of duplicate samples is being initiated.
Everton and Brigus Gold Corp (TSX and NYSE Amex: BRD) each hold a 50% interest in the Ampliación Pueblo Viejo property in the Dominican Republic adjacent to the US$3 billion Pueblo Viejo project, currently being developed by the world's largest gold mining company, Barrick Gold Corporation (60%) (NYSE/TSX: ABX) in partnership with Goldcorp (40%) ("Goldcorp") (NYSE: GG, TSX: G). Everton is the project operator and has the right to earn an additional 20% by incurring additional expenditures. Planned divestiture of its 100%-owned subsidiary Hays Lake Gold containing the Shoal Lake Gold Project in Kenora, Ontario is expected to provide internal funding to advance the Ampliación Pueblo Viejo project. Everton also holds an interest in the Opinaca region of James Bay, Quebec where the Company has partnered with Aurizon Mines Ltd. who is advancing Everton's interest by funding 100% of all exploration work on one of the largest land packages adjacent to Goldcorp's Eleonore gold deposit
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This news release contains certain forward-looking statements that involve risks and uncertainties, such as statements of Everton's plans, objectives, strategies, expectations and intentions. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to Everton, or its management, are intended to identify such forward-looking statements. Many factors could cause Everton's actual results, performance or achievements to be materially different any future results, performance or achievements that may be expressed or implied by such forward-looking statements. The forward-looking statements included in this press release represent Everton's views as of the date of the release. While Everton anticipates that subsequent events and developments may cause its views to change, it specifically disclaims any obligation to update these forward-looking statements, except in accordance with applicable securities laws. Accordingly, readers are advised not to place undue reliance on forward-looking information. All subsequent written and oral forward-looking statements attributable to Everton or persons acting on its behalf are expressly qualified in their entirety by this notice.
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