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Everton Exploration Update: Hecla Mining Starts $800,000 Exploration Program in James Bay, Quebec
|By Marketwired .
|June 26, 2014 05:47 PM EDT
OTTAWA, ONTARIO -- (Marketwired) -- 06/26/14 -- Everton Resources Inc. ("Everton" or the "Company") (TSX VENTURE:EVR)(FRANKFURT:ERV) is actively exploring for precious metals in both Canada and the Dominican Republic and is pleased to report on the results of winter drilling and exploration plans for 2014.
Hecla Quebec Inc. ("Hecla"), a wholly owned subsidiary of Hecla Mining Company, has advised Everton that it has completed its previously announced (February 27, 2014) winter drill program on the Wildcat 1 property. The Wildcat property is a strategically- located assemblage of claims partially surrounding the Goldcorp's Eleonore mine, which is currently under construction. Hecla has the option to earn up to a 65% interest in the property.
The drill program tested one isolated gold-in-till anomaly exploration target within the Wildcat 1 claim blocks. The target was supported by a 500 metre-wide gold-in-till anomaly coincident with a gold-arsenic anomaly in soil. Although no significant drill assays were encountered in this program, the three holes drilled initiated the investigation of this area entirely covered by overburden.
Hecla has advised that it plans to undertake detailed ground work, on the Wildcat property, this summer with a budget in the order of $800,000. The program will include infill sampling in the areas of the winter drilling as well as other targets where the results were promising. The sampling will be done to better define exploration vectors and allow the delineation of targets that could be the basis of a drill program later this year.
Everton completed a diamond core drill program at the Ampliacion Pueblo Viejo property. A total of 2,525 metres were drilled in 10 holes. All of the holes except hole #4 achieved the intended depths. The holes were planned to test potential structures and associated mineralization interpreted from previous drill campaigns, ground and airborne geophysics, soils and rock geochemistry and geological mapping.
Although the drilling did not include results that could be considered potential high grade mineralization, several intervals of anomalous gold, copper, silver and pathfinder elements were encountered. The maximum gold value encountered was 0.93 g/t over an interval of 1.52 metres in holes 14-01 and 03. Other gold assays are in the range of 0.52 g/t to 0.61 g/t (3 intercepts) over interval lengths of 1.04 to 1.52 metres. Silver assays in the range of 5.5 g/t to 22 g/t over intervals of 0.99 to 2.96 metres and copper assays in the range of 1.18% to 2.05% over intervals of 0.55 to 1.13 metres in hole 14- 04. A total of 1,844 samples were collected and assayed at Acme Laboratories ("Acme").
The samples were prepared at the Acme facilities in Maimon, Dominican Republic and sent to Acme in Vancouver, British Columbia, for assaying. The assay preparation is the standard Acme for rocks R200, and assayed by Aqua regia digestion followed by ICP/MS (Acme assay code AQ200). Certified standards and blanks were inserted in the sample stream, as well as duplicates and un-mineralized limestone samples for QA/QC control.
On the Ponton concession (100% Everton) in the Dominican Republic, planning is underway for line cutting and an Induced Polarization ("IP") survey to be conducted. This work will commence upon receipt of permitting. It is hoped that the geophysics will be completed and evaluated this summer and will be used to define targets for a drill program later this year. Previous work on the concession by Everton has identified interesting gold mineralization in soil anomalies within the area to be surveyed with IP. These surficial anomalies will be targeted by the proposed drill program.
Everton recently announced (April 1, 2014) the successful acquisition of options on six mining concessions in the Dominican Republic that are described in the news release dated October 25, 2013. Everton is currently compiling information related to these concessions and formulating plans to advance these strategic properties.
The technical information on the Dominican Republic in this news release has been reviewed and approved by Mr. Hugo Dominguez, C.P.G., who acts as Everton's Qualified Person, as defined under National Instrument 43-101.
About Everton Resources Inc.
Everton is actively exploring 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 (formerly Aurizon Mines Ltd.) which 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.
For further information on Everton Resources Inc., please visit www.evertonresources.com
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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