Everton forges ahead in Canada and Dominican

Vancouver – Recent exploration efforts in both Canada and the Dominican Republic have returned short but well-mineralized gold and silver intercepts for Everton Resources (EVR-V).

In the Dominican Republic, Everton has released several drill results from the La Lechoza area at the Amplicacion Pueblo Viejo concession, a property adjacent to the massive Pueblo Viejo Mine owned Barrick Gold (ABX-T, ABX-N) and Goldcorp (G-T, GG-N).

La Lechoza sits in the northern section of the 4,045-ha. concession, which Everton is exploring in conjunction with Linear Gold (LRR-T). The two companies have established several mineralized areas in La Lechoza including Spanish Pit and the newly-established Pon Hill.

At Pon Hill, hole 7 hit 19.5 metres grading 51.74 grams silver per tonne, starting at 5 metres and including 2.5 metres grading 316.4 grams silver.

Two hundred metres northeast at Spanish Pit, Everton hit 6 metres grading 192.5 grams silver in hole 4, starting at 11 metres and including 1.5 metres grading 764 grams silver.

Hole 4 reinforced the high-grade silver results from hole 24 last year, which hit 22 metres grading 93.7 grams silver and included 6 metres grading 300 grams silver.

Roughly 250 metres northeast of Spanish Pit sits the North Hill zone. The latest drilling there returned 3 metres grading 7.89 grams gold between 10 and 13 metres, and cut 4.7 metres grading 94.44 grams silver starting 45 metres downhole.

Mineralization in the area varies from semi-massive sulphide, including pyrite, chalcopyrite, sphalerite and argentite associated with clay-rich breccias zones, to quartz-sulphide stockwork and veining in strongly silicified, volcanic-derived breccias. A supergene oxidation zone with secondary copper oxides and carbonates cap most of the fresh hypogene sulphides or primary mineralization.

Everton is currently working though an 8,000-metre drill program on the Amplication PV concession comprising 40 to 50 holes. The latest results are from the completed phase 3 of the program, which consisted of 12 drill holes over 957 metres.

Everton has several other properties in the Dominican Republic at various stages of exploration.

Meanwhile in Canada the company recently finished up an 8,271-metre drill program over 28 holes at the Shoal Lake project near Kenora, Ontario.

Results from the first four samples to be analyzed from the Shoal Lake West property include a 17.1-metre intercept in hole 4 that graded 7.15 grams gold per tonne, starting 191.1 metres downhole; a 1.4-metre hit in hole 1 that returned 2.74 grams gold, from 409.9 metres; and an 8.1-metre interval in hole 2 carrying 2.22 grams gold, including 1.8 metres grading 6.5 grams gold.

The latest results are from around the Duport gold deposit, which has been drilled over a strike length of 6.1 km and to a vertical depth of 365 metres. The deposit is characterized by two laterally persistent silicified shear zones, known as main and east, that contain stringer and disseminated pyrite, pyrrhotite and arsenophyrite. The highlighted drill results are from the main zone.

The National Instrument 43-101-compliant mineral resource estimate at the Duport deposit sits at 424,000 indicated tonnes grading 13.4 grams gold and 387,000 inferred tonnes grading 10.69 grams gold.

The company secured an option to acquire the Shoal Lake project, including the Duport deposit, when it took over Hayes Lake Gold in mid-2009 for 12 million Everton shares and $55,000 in cash.

The Duport deposit is a past producer that was extensively explored in the 1980s by Consolidated Professor Mines. The company drilled 666 holes over 74,337 metres, drove a ramp 1,360 metres underground and built 1,555 metres of lateral drifting, all costing in excess of $40 million. Halo Resources (HLO-V) later acquired the property in 2005 and established the current resource estimate. Everton took over Hayes Lake’s right to earn a 51% stake in project from Halo.

Everton’s share price was up 2¢ on the day the Shoal Lake results were released to close at 27¢. The company’s 52-week share price range is between 7¢ and 32¢; it has 77 million shares outstanding, with 88 million fully diluted.