For 8:30 AM Release
May 4th, 2009
TSX-V: EVR
Everton and Linear Gold
Granted Renewal of Key Concession Adjacent to World-Class Pueblo Viejo Mine,
Dominican Republic
Everton Resources Inc. (TSX-V:
EVR, Frankfurt:
ERV) ("Everton" or the "Company") and its
partner Linear Gold Corp. (TSX:
LRR) ("Linear") are pleased to announce the
re-granting of a new exploration permit on the 40.4 km2 Ampliacion
Pueblo Viejo II ("Ampliacion PV II")
concession. The Ampliacion PV II concession is
situated approximately 300 meters away from the westernmost Arroyo Hondo pit
at the world-class Pueblo Viejo gold project owned by Barrick
Gold Corporation (60%) and Goldcorp Inc. (40%). The US$2.7 billion project,
currently in development and scheduled for late 2011 start-up, is estimated
to contain 22.4 million ounces of gold in reserve, 455 million pounds of
copper and 131.3 million ounces of silver.
Initial permits on the Ampliacion Pueblo Viejo ("Ampliacion
PV") concession had been granted under Mining Law 146 in March 2002 for
a five year term. The concession owner Linear Gold Caribe
had applied for a new concession under the prerogatives of the Regulation
207-98 to the Mining Law. The new concession = Ampliaci�n
PV II = covers the same area extension as the original concession.. The permit for Ampliacion PV
II, which has received signature approval by the Secretary of State of
Industry and Commerce of the Dominican Republic, is for an initial 3 year
term and may be extended for up to 2 years on application.
Field Work and Upcoming Program
Following the signing of the option agreement with Linear (press release of
April 12, 2007), Everton initiated an integrated and aggressive exploration
program on the Ampliacion PV concession including a
thorough 100-meter spaced line helicopter-borne electromagnetic and magnetic
survey totalling 710 line-km, a comprehensive mapping survey including the
collection of 1,760 rocks samples, a 3,000-soil sample survey, a total of 31
line-km of induced polarization ("IP") survey and 15 line-km of
horizontal loop electromagnetic ("HLEM") survey, 794 meters of
trenching on the La Lechoza Target and two shallow
diamond drill holes in the central part of the concession.
The field work carried out by
Everton and Linear on Ampliacion PV allowed the
delineation of several large-scale first priority drill targets, namely
Silica Ridge, Colorado, Miguel de Pena, Finca Miniel and Montenegro North. Those targets are
characterized by the coincidence of a strong dispersion of epithermal-related
soil anomaly pathfinder elements, zones of strong gossan development and extensive zones of
advanced argillic and massive silicification
associated with N-S and NW-SE structures parallel to those of the
mineralizing system at the Pueblo Viejo gold project.
Everton and Linear are presently
completing field validation work on the various Ampliacion
PV anomalies in preparation for an 8,000-meter drill program that will be
undertaken upon receipt of the necessary environmental approvals expected to
be granted in due course.
Ampliacion
PV South
Silica Ridge and Colorado targets are characterized by NW-SE dispersion
corridors of soil anomalies in gold, silver, arsenic, tellurium and mercury
of respectively 250 m x 100 m and 1 km x 400 m in size. Alteration textures
and rock mineralogy suggest a strong acid leaching environment. Rock values
within the corridors reach up to 400
ppb gold and 1,000
ppb silver.
The Miguel de Pena Target is a
multi-element epithermal pathfinder soil anomaly associated with zones of
strong gossan development and IP anomalies. This
area shows a good correlation between gold, silver, arsenic, tellurium and a
low magnetic susceptibility as observed at the Pueblo Viejo gold project.
Ampliacion
PV Central
Finca Miniel and
Montenegro North targets are located due north of the Pueblo Viejo gold
project's Montenegro pit. The Finca Miniel Target is characterized by a copper and
zinc-in-soil anomaly on the edge of an IP anomaly lined up with the N-S
structure at the Pueblo Viejo gold project. A shallow diamond drill hole
executed by Everton and Linear and testing a surface showing associated with
the NS structure intersected 3.6%
zinc / 4.75 m, including 23% zinc / 0.45 m. The Montenegro North Target
consists of a mineralized showing in silicified mafic
volcanics that returned 1.0 grams per tonne gold ("g/t Au") and
97.0 grams per tonne silver
("g/t Ag") over 2 meters in a channel sample. This
showing straddles a N-S structure that extends onto
the Pueblo Viejo gold project.
Ampliacion
PV North
In the summer of 2007 Everton and Linear conducted a program of 8 trenches at
the La Lechoza Prospect for total of 794 meters
excavated (press release of September 18, 2007). The program was designed to
add details to a previous program undertaken by Linear in 2004. The trenching
work revealed zones of high-grade gold mineralization in strongly altered mafic volcanics. The best
intercept was obtained from trench LT-11 where 6.65 g/t Au and 18.8 g/t Ag were cut over 22 meters, including 22.1 g/t Au and 48.6 g/t Ag over 4 meters. Several additional
intercepts were cut in trenches LT-13 and LT-14 yielding respectively 1.13 g/t Au over 18 meters and 4.35 g/t Au over 10 meters .. These grades confirm
and expand the zone of mineralization discovered by Linear in previous
trenching programs conducted in this area between 2003 and 2005.
Qualified Person
This press release was prepared under the supervision of Marc L'Heureux, P. Geo. and VP Exploration of Everton, who
acts as Everton's Qualified Person as defined by National Instrument 43-101.
Company Profiles
Everton is well funded and actively exploring in the Dominican Republic
adjacent to the US$2.7 billion world-class Pueblo Viejo gold 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 in reserve, 455
million pounds of copper and 131.3 million ounces of silver. Everton 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 Inc.'s Eleonore gold deposit, which
currently hosts an estimated mineral resource of 5.3 million ounces of gold.
Linear is actively exploring for
gold and base metal deposits through joint ventures with Everton in the
Dominican Republic and Kinross Gold Corporation in Mexico. Linear is debt
free has working capital of approximately $30 million.
For more information, please contact:
Andr� Audet
President & CEO, Chairman
andre@evertonresources.com
Tel: 613 241 2332
Fax: 613 241 8632
www.evertonresources.com
This press 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 forwardlooking 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.