Everton Resources Inc (CVE:EVR) has started its drill plan on its Arroyo Carpintero concession. It is the first time that this concession has witnessed any drilling. The drill plan will comprise of seven diamond drill holes, which will be in a range of 400 metres to 600 metres in length with an overall program adding to 3,000 metres.
André Audet, the CEO and Chairman of Everton, reported that they are thrilled to finally initiate their historic daily plan at Majagual Hill and to validate a new copper-gold porphyry scheme discovery in the Dominican Republic.
The plan is intended to confirm the finding of a large copper porphyry scheme lying beneath Majagual Hill. As per the update, the targets were seen utilizing the recent report of the induced polarization survey that seems to show a large, strong and deep chargeability anomaly centered beneath Majagual Hill.
Everton reported that there is a strong resistivity mark which has a robust correlation with the chargeability variance. Moreover, there is an affirmative correlation between the sites of both the chargeability and resistivity anomalies with increased concentrations of copper and gold in the rocks and soil. This signature is indicative of a would-be large-scale copper porphyry arrangement.
Geologically, the Arroyo Carpintero assignment belongs to a series of volcanic centres that advanced during the establishment of the Island Arc. As per information, the Pueblo Viejo deposit appears to be in the northwestern volcanic centre; Arroyo Carpintero in the central volcanic centre, while deposits like the ones in the Bayaguana area are understood to be in the southeastern side of this belt.
The seven drill sites are located on a map at the company’s website. In the last trading session, the stock price of Everton gained more 18% than to close the session at CA$0.10. The market cap of firm stands at CA$8.83 million.