Gold miner obtains three key concessions in central mountains
Otawa Ontario, (Marketwiredvia COMTEX).- Everton Resources Inc. ("Everton" or the"Company") (EVR) is pleased to announce that the Ministry of Energyand Mines of the Dominican Republic renewed three key exploration concessions:two of these concessions are immediately adjacent to the concession that hoststhe Pueblo Viejo gold mine, with a common border within one kilometer of theopen pit. The other concession is located 27 kilometers east of the PuebloViejo mine concession.
Everton’s Chairman and CEO, André Audet commented, "Weare grateful to the Dominican Government in granting these concessions and welook forward to working with them in our continuing exploration efforts in theDominican Republic. Everton has been an active mining company in the DominicanRepublic since 2004. Everton is committed to advancing our newly grantedconcessions both in the shadow of Barrick/Goldcorp open pit mine and byinitiating an IP survey on the Arroyo Carpintero concession this summer,drilling of the priority targets generated will follow. "
NEW GRANTED CONCESSIONS:
ARROYO CARPINTERO (Formerly Pontón)
Located 27 km east of the Pueblo Viejo mine, thisconcession will be the initial focus of our renewed exploration efforts. Thisconcession is interpreted to have the potential to host a world classgold-copper porphyry deposit. Soil geochemistry, trenching, and soil sampleshave previously defined significant anomalies, along with artisanal mininghaving been observed onsite. This very promising prospect is located in theMonte Plata Province and on one of the few regional volcanic centers on the"Los Ranchos Formation". The concession is not located near anyecologically restricted areas, has good access and a low population density.Surface geology, soil, and rock geochemistry sampling have returned values of4.08 g/t Au, 30 g/t Ag, 0.63% Cu and 0.67% Zn. An IP survey followed bydrilling is planned starting mid-summer 2016.
MERMEJAL (Formerly La Cueva)
The Mermejal concession ties on to the east side of thePueblo Viejo Mine concession. This concession contains several prospectivelithologies that locally host the Cerro de Maimón open pit mine as well asseveral Volcanogenic Massive Sulphide (VMS) deposits, such a Loma Pesada, LomaBarbuito and Loma La Mina. The Mermejal Concession contains a gold rich VMSprospect that has been tested with 38 DDHs with its best intersection being10.58 meters @ 2.03% Cu, 9.41% Zn, 2.96 g/t Au, and 104.9 g/t Ag. Themineralization has been interpreted to be related to a distal VMS setting andhigher copper gold grade zone may be found if drill holes can be vectored usingaccumulated assay data and drill hole modelling.
CABIRMA DEL CERRO("CDC") (Formerly Ampliacion Pueblo Viejo)
The Cabirma del Cerro concession adjoins the Pueblo ViejoMine (Barrick/Goldcorp) concession that reportedly contains approximately 15million ounces of proven and probable gold reserves (reference:Pueblo ViejoProject Technical Report Ni 43-101)(reference: March 16)(reference:2012). Theproposed boundaries of the Pueblo Viejo open pit are only 700 m east and 1,450m south of the Everton’s Cabirma del Cerro concession boundaries
The South block is west of and adjacent to the Monte Negropit of the Pueblo Viejo Mine. Monte Negro structures trend towards and appearto extend onto the South Block. These structures are locally associated with IPanomalies on Everton’s concession and are priority exploration targets.
The Central Block: This block is 1,450 m north of theproposed northern extent of the Pueblo Viejo open pit and the Monte Negrodeposit. Several north – south trending conductors have been identified byprevious Everton IP surveys. These IP conductors are on strike of the MonteNegro deposit, and all of these conductors warrant further assessment.
The North block is in Los Ranchos Formation, which is morefelsic that of the Central and South blocks. It hosts a Volcanogenic MassiveSulphide (VMS) deposit (La Lechoza VMS Deposit, SGS 43-101 Report dated August23, 2010). La Lechoza deposit has been only partly defined and will requirefurther geophysical testing prior to drilling.