EVERTON EXPLORATION UPDATE - JAMES BAY, QUEBEC
Ottawa, Ontario - Everton Resources Inc. (
Frankfurt: ERV) ("
Everton" or the
is pleased to
announce the completion of two reconnaissance programs on its wholly-owned
Coulon and Gold Strait properties and the results of the winter/spring 2008
drill program on the Opinaca A & B properties (optioned from
Azimut Exploration Inc.) and it’s
wholly-owned Wildcat 1 property, in James Bay, QC.
The Coulon property consists of 206 claims covering 102 km2 distributed in 7 blocks and is located 45 km north of the Fontanges airport in James Bay, QC. All blocks are adjacent to Virginia Gold Mine’s Coulon property where 7 high-grade volcanogenic polymetallic massive sulphide lenses have been discovered to date. The recently concluded reconnaissance program on the Coulon property, including the collection of 77 rock samples, identified mineralization consisting mainly of stratabound sulphides (pyrrhotite, pyrite, chalcopyrite and sphalerite) intercalated with amphibolitic horizons. Disseminated sulphides are also observed locally in amphibolites, granitoids and paragneisses. The rock samples are being assayed at the ALS Chemex Laboratory in Val d’Or, QC. Results are expected in September.
Everton’s Gold Strait property is comprised of 105 claims and located in the northeastern part of La Grande Reservoir, 60 km east of the town of Radisson in James Bay, QC. The recent reconnaissance mapping survey, including the collection of 76 rock samples, identified disseminated sulphide and veinlets within amphibolites, paragneisses and biotite greiss bands. Sulphide phases are represented by pyrite, chalcopyrite and pyrrhotite. Rock samples are being assayed at the ALS Chemex Laboratory in Val d’Or, QC. Results are expected in September.
Fieldwork on the Coulon and Gold Strait properties was completed by IOS Services Géoscientifiques, an exploration consulting firm of Chicoutimi, QC under the supervision of Réjean Girard, P. Geo. and president of the firm.
Opinaca A & B - Lola,
Smiley, Charles and Dominic Targets
Twelve holes totaling 1,600 metres were completed by Everton and its partner Azimut Exploration Inc. (“Azimut”) to test coinciding airborne electromagnetic (AEM) conductors, induced polarization (IP) anomalies and geochemical anomalies on the Smiley, Lola, and Charles Targets located on Opinaca A and the Dominic Target on Opinaca B. Most of the drill holes intersected altered sediments containing a variable amount of sulfide mineralization. Due to technical problems in cutting thick overburden to reach the bedrock, many planned drill holes were abandoned on the Lola and Smiley Targets and the drilling strategy was modified. The re-designed drill program succeeded at intersecting anomalous gold values at the Smiley and the Dominic Targets.
Highlights of the drill program include 4.24 g/t Au over 1m and 0.38 g/t Au over 1m in Hole OS-08-04A at the Smiley Target on Opinaca A and 0.55 g/t Au over 0.3m and 0.60 g/t Au over 1.2m in Hole DB-08-01 at the Dominic Target on Opinaca B. The Smiley Target on Opinaca A is located due north of the Eleonore Gold Deposit (2.5M oz. gold indicated) where Goldcorp Inc. reported in their 2008 Second Quarter Report the conduction of intensive drilling in the north and south extensions of the deposit.
Everton and its partner Azimut are currently integrating the new results with the regional dataset in order to prepare the next round of exploration work on Opinaca A & B. Future drill programs will require heavier drill equipment in order to test targets located below thick overburden coverage. Drill holes proposed at the Moose Target on the Wildcat 1 property were also abandoned due to excessive overburden thickness.
Everton has the option to earn a 50% interest on the Opinaca A & B properties from Azimut and may earn an additional 15% interest upon the delivery of a bankable feasibility study. Everton is the project operator.
This press release was prepared by, and all fieldwork was performed 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.
Everton is well funded and actively 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 (“Goldcorp”) (NYSE: GG, TSX: G) Eleonore gold deposit which currently hosts an estimated mineral resource of 3.68 million ounces of gold (December 31, 2007 at $650/oz. Au). Everton is also 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%). Pueblo Viejo is estimated to contain 20.4 million ounces of gold, 2.6 billion pounds of zinc, 423.6 million pounds of copper and 117.3 million ounces of silver.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release . The Company’s shares are listed on the TSX Venture Exchange and trade under the symbol “EVR”.