Everton Hits High Grade Gold at Stevens Island Deformation Zone Northwestern Ontario (SLW10-26 Intersection of 11.72
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OTTAWA, ONTARIO, Apr 06 (MARKET WIRE) --
Everton Resources Inc. (TSX VENTURE: EVR)(FRANKFURT: ERV) is pleased to
announce further results from the winter drill program recently completed
on the Shoal Lake West property, located 60 km west of Kenora, Ontario.
The current results from the drill program succeeded at extending the
zone of mineralization down to a depth of 365 meters where hole SLW10-11
intersected 16.61 g/t Au over 2.14 m and hole SLW10-15 cut 10.72 g/t Au
over 1.83 m. These holes were planned to expand the gold resources by
testing the down plunge extension of the prospective Main and East Zones,
included within the Duport Deformation Zone ("DDZ"). In addition, the
parallel Stevens Island Deformation Zone ("SIDZ"), located 750 meters
southeast of the DDZ, was investigated with drill hole SLW10-26 that
returned a high grade gold intersection of 11.72 g/t Au over 2.44 meters.
This consists of a major breakthrough since this under-explored zone may
extend over a strike length of at least 400 meters as indicated by VLF-EM
ground geophysics. In the past, holes SL-89-02 and SL-90-4, drilled 115
meters apart along the SIDZ, intersected values of 8.30 g/t Au across
2.95 m (167.94 m to 170.89 m), 6.45 g/t Au across 1.05 m (186.70 m to
187.75 m), and 12.66 g/t Au over 1.85 m (190.42 m to 192.27 m) in hole
SL-89-02. Hole SL-90-04 intersected 3.24 m at 4.00 g/t Au (36.49 m to
39.73 m).
Commenting on the results, Everton's President and CEO, Andre Audet said:
-- Today's drilling results enhance our encouraging preliminary results
from three weeks ago. These results from
-- of the 28 drill holes for the Shoal Lake West property, confirm the
potential of this project as a key component of our two-prong strategy
in The Dominican Republic and Canada.
We've had very encouraging results in the Dominican Republic, and now
with these exciting results and a potential major breakthrough where we
may be able to extend this under explored zone over a strike length of
at least 400 meters at the Stevens Island Deformation Zone, may
substantially increase our resource."
The latest results presented in this press release are part of the
28-hole winter drill program for 8,271 meters realized from February 12
to March 10, 2010.
Results previously announced have included a high-grade gold intersection
of 7.15 g/t Au over 17.1 m, including 9.72 g/t Au over 11.0 m and
including 44.43 g/t Au over 1.4 m from hole SLW10- 04 that was testing
the Main Zone on Line 8200N at a vertical depth of 180 meters.
During the drill program, the DDZ that hosts the prospective Duport Gold
Deposit was drilled tested over a strike length of 6.1 km, and down to a
vertical depth of 365 meters. The Duport gold deposit is characterized by
two main laterally persistent silicified shear zones referred to as the
Main and East (Footwall) zones that contain stringer and disseminated
pyrite, pyrrhotite and arsenopyrite. The zones dip 70 degrees to the
west. National Instrument 43-101 compliant mineral resources at the
Duport Gold Deposit are currently estimated at 424,000 tonnes grading
13.40 g/t Au for 182,000 contained ounces of gold in an indicated
category and 387,000 tonnes grading 10.69 g/t Au for 131,000 contained
ounces of gold in an inferred category (see press release of July 9th,
2009).
Highlights of the most recent holes are summarized below. Additional
results will be released as assay data becomes available:
--------------------------------------------------------------------------
Target
Hole Section Target Elevation From To Length Grade
--------------------------------------------------------------------------
(m) m m m Au g/t
--------------------------------------------------------------------------
--------------------------------------------------------------------------
SLW10-06 8400N Main Zone -244 269.73 279.49 9.76 2.25
--------------------------------------------------------------------------
incl. 271.87 274.31 2.44 3.74
--------------------------------------------------------------------------
East Zone 289.85 293.81 3.96 6.19
--------------------------------------------------------------------------
incl. 289.85 291.68 1.83 11.96
--------------------------------------------------------------------------
--------------------------------------------------------------------------
SLW10-07 13100N Main Zone -122 226.76 231.33 4.57 2.73
--------------------------------------------------------------------------
incl. 229.5 231.33 1.83 4.26
--------------------------------------------------------------------------
East Zone 245.14 249.68 4.54 2.20
--------------------------------------------------------------------------
incl. 245.14 246.08 0.94 6.26
--------------------------------------------------------------------------
--------------------------------------------------------------------------
SLW10-08 9820N Main Zone -305 319.72 320.33 0.61 2.25
--------------------------------------------------------------------------
East Zone 336.03 336.48 0.45 1.25
--------------------------------------------------------------------------
--------------------------------------------------------------------------
SLW10-09 7000N Main Zone -305 301.43 304.48 3.05 1.50
--------------------------------------------------------------------------
incl. 302.35 304.48 2.13 1.84
--------------------------------------------------------------------------
Main Zone
FW 314.23 316.06 1.83 1.37
--------------------------------------------------------------------------
incl. 314.84 315.45 0.61 2.93
--------------------------------------------------------------------------
--------------------------------------------------------------------------
SLW10-10 8600N Main Zone -221 229.05 232.55 3.50 5.27
--------------------------------------------------------------------------
incl. 229.5 230.72 1.22 8.98
--------------------------------------------------------------------------
--------------------------------------------------------------------------
SLW10-11 9400N Main Zone -335 378.54 380.68 2.14 16.61
--------------------------------------------------------------------------
--------------------------------------------------------------------------
SLW10-12 9760N Main Zone -274 290.46 292.29 1.83 4.25
--------------------------------------------------------------------------
Main Zone
FW 295.64 297.56 1.92 1.70
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Hanging
SLW10-13 8134N Wall Zone 277.81 279.49 1.68 10.39
--------------------------------------------------------------------------
Main Zone -305 335.11 338.31 3.20 5.48
--------------------------------------------------------------------------
--------------------------------------------------------------------------
SLW10-14 7200N Main Zone -217 245.81 247.33 1.52 3.30
--------------------------------------------------------------------------
East Zone 313.32 314.23 0.91 1.40
--------------------------------------------------------------------------
--------------------------------------------------------------------------
SLW10-15 9300N Main Zone -366 401.1 402.93 1.83 10.72
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Upper HW
SLW10-16 8200N Zone 193.39 199.33 5.94 2.07
--------------------------------------------------------------------------
Main Zone -335 338.46 339.84 1.38 1.59
--------------------------------------------------------------------------
East Zone
FW 417.86 421.82 3.96 1.97
--------------------------------------------------------------------------
--------------------------------------------------------------------------
SLW10-17 7316N Main Zone -152 165.5 166.72 1.22 2.03
--------------------------------------------------------------------------
East Zone 188.66 189.12 0.46 4.07
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Main
SLW10-18 11800N Extension -122 44.19 46.63 2.44 2.39
--------------------------------------------------------------------------
--------------------------------------------------------------------------
SLW10-19 8000N Main Zone -305 315.45 319.41 3.96 3.31
--------------------------------------------------------------------------
incl. 316.82 318.2 1.38 5.86
--------------------------------------------------------------------------
East Zone 349.28 350.81 1.53 1.60
--------------------------------------------------------------------------
East Zone
FW 352.94 353.55 0.61 4.50
--------------------------------------------------------------------------
--------------------------------------------------------------------------
SLW10-20 7600N Main Zone -61 76.99 82.63 5.64 2.26
--------------------------------------------------------------------------
incl. 76.99 78.09 1.10 4.35
--------------------------------------------------------------------------
176.17 177.38 1.21 5.17
--------------------------------------------------------------------------
--------------------------------------------------------------------------
SLW10-21 12115N Main Zone -91 96.31 99.36 3.05 2.33
--------------------------------------------------------------------------
164.43 165.04 0.61 6.80
--------------------------------------------------------------------------
--------------------------------------------------------------------------
SLW10-23 12900N Main Zone -130 145.69 147.52 1.83 1.95
--------------------------------------------------------------------------
--------------------------------------------------------------------------
SLW10-24 7923N Main Zone -229 233.16 244.74 11.58 2.43
--------------------------------------------------------------------------
incl. 234.99 239.26 4.27 4.33
--------------------------------------------------------------------------
--------------------------------------------------------------------------
SLW10-25 7415N Main Zone -64 102.74 105.33 2.59 3.54
--------------------------------------------------------------------------
--------------------------------------------------------------------------
SLW10-26 SIDZ -73 182.87 185.31 2.44 11.72
--------------------------------------------------------------------------
incl. 183.79 185.31 1.52 17.69
--------------------------------------------------------------------------
and 206.49 206.95 0.46 7.88
--------------------------------------------------------------------------
Quality Control and Quality Assurance Program
All samples were submitted for gold analysis to ALS Chemex Laboratories
in Thunder Bay, Ontario. A quality assurance quality control (QA/QC)
program was implemented during the drilling campaign. The program
consisted of submitting duplicate, standard and blank samples. Rejects
and pulps from a range of grades will be submitted to a second accredited
laboratory. QA/QC data is currently being analyzed.
This press release was prepared by Marc L'Heureux, P. Geo. and VP
Exploration of Everton, who acts as Everton's Qualified Person as defined
by NI 43-101. Field work and drill program proposal and preparation were
done under the direct supervision of Kevin Leonard, P. Geo.
Everton is actively exploring in the Dominican Republic adjacent to the
US$2.7 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). Pueblo Viejo is estimated to contain 22.4 million ounces of
gold, 455 million pounds of copper and 131.3 million ounces of silver.
Everton also holds through its 100%-owned subsidiary Hays Lake Gold
various options consolidated land package located in the Shoal Lake area,
near Kenora, Ontario. The Shoal Lake Gold Project is comprised of two
significant high grade gold deposits: Duport and Cedar Island on 81.3
km2. The Company is also exploring in the Opinaca region of James Bay,
Quebec where the Company has amassed one of the largest land claims
adjacent to Goldcorp's Eleonore gold deposit, which currently hosts an
estimated total mineral resource of 9.4 million ounces of gold.
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 from 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. 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.
Contacts:
Everton Resources Inc.
Andre Audet, Chairman and CEO
613-241-2332
613-241-8632 (FAX)
andre@evertonresources.com
www.evertonresources.com
First Canadian Capital Corporation
Bob Mullins
416-742-5600
Toll Free: 866-580-8891
rmullins@firstcanadiancapital.com
First Canadian Capital Corporation
Jason Monaco
416-742-5600
Toll Free: 866-580-8891
jmonaco@firstcanadiancapital.com
Copyright 2010, Market Wire, All rights reserved.
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