Everton Resources Identifies Multiple Copper-Gold Targets on Arroyo Capintero (Ponton) in the Dominican Republic
TSX VENTURE: EVR
OTTAWA, ONTARIO--(Marketwired - Dec. 14, 2016) - Everton Resources Inc. ("Everton" or the "Company") (TSX VENTURE:EVR) is pleased to report the results of a very successful I.P. survey on its 100% owned property of Arroyo Carpintero, Monte Plata Province, Dominican Republic. The Arroyo Carpintero property lies in the Los Ranchos formation, the same formation of the world class Pueblo Viejo gold-silver-copper mine (Barrick) only 30 kilometers away. The survey covered some 12,700 meters of survey lines in 9 lines, 200 meters apart.
Everton acquired 100% interest in the Arroyo Carpintero concession in the Dominican Republic from Brigus Gold Corporation in 2012. Surface reconnaissance identified anomalous mineralization in the south-central sector of Arroyo Carpintero in 2012. Further to these results, surface sampling and trenching returned 15m of 0.3 g/t including 1.17 g/t gold over 1m. Difficult times in the mining and exploration industry since 2012 have impeded the advancement of the Arroyo Carpintero project, however the goals remain unchanged. The Arroyo Carpintero concession is considered to have the potential to host a Cu-Au-Mo Porphyry target system. A Caracle Creek report (PUN ARROYO CARPINTERO - MAJAGUAL HILL, Dominican Republic, November 7, 2012) states there is "abundant evidence of a hydrothermal system and dome emplacement at Majagual Hill"... "The complex evolution, volcanism and intrusions, and the enrichment of the magma in metals like Au-Ag-As + (Cu-Mo-Pb) has generated centres with potential to host world class deposits." The IP survey has outlined an extensive area of more than one kilometer in strike length and 900 meters in width open in all directions.
The results of the "Insight" Induced Polarization survey have been received and indicate that there is a large, deep, and strong chargeability anomaly that is centered on Majagual Hill. Additionally, there is a strong resistivity signature which has a strong correlation with the chargeability (see accompanying maps). This signature could be indicative of a large scale copper porphyry system. There is a positive correlation between the locations of both the resistivity and chargeability anomalies with elevated concentrations of gold and copper in the soil and rocks.
Geologically, the Arroyo Carpintero project is part of a series of volcanic centers that developed during the formation of the Island Arc. The Pueblo Viejo deposit seems to be in the Northwestern most volcanic center; Arroyo Carpintero lies in the Central volcanic center and deposits such as the ones in the Bayaguana Region are interpreted to be in the Southeastern end of this belt.
Everton has outlined seven diamond drill holes that range between 400 and 600 meters in length with a program total of 3,065 meters to be started in late January 2017.
André Audet, Chairman and Chief Executive Officer of Everton, commented, "The Dominican Republic hosts the world class deposits Pueblo Viejo gold deposit. Everton believes there are more world class discoveries to be found in this mining friendly country. This concession has the geology, basic pathfinders, surficial anomalies, even artisanal gold miners on the concession. The results of this IP survey propel us to the drilling stage."
The technical content of this release was reviewed by Wade Kornik, P.Geo., a qualified person as defined by the National Instrument 43-101.
About Everton Resources Inc.
Everton is an exploration company with concessions in the Dominican Republic adjacent to the Pueblo Viejo Mine, owned by the world's two largest gold mining companies, Barrick Gold Corporation (60%) in partnership with Goldcorp Inc. (40%) ("Goldcorp"). Everton also holds an interest in the Opinaca region of James Bay, Quebec where the Company has partnered with Hecla Mining Company which is advancing Everton's interest in the Opinaca B project by funding 100% of all exploration work on one of the largest land packages adjacent to Goldcorp's Eleonore gold deposit. Everton recently announced the acquisition of two properties: the Blue Sky Jackpot lithium property in Ontario and the Detour Lake gold property in Quebec.
For further information on Everton Resources Inc., please visit: www.evertonresources.com