Everton Earns 50% Interest in the Opinaca A and B Gold Properties, James Bay region, Quebec
Everton Resources Inc. (TSX-V: EVR, Frankfurt: ERV) is pleased to announce that it has earned its 50% interest from Azimut Exploration Inc. ( TSX-V: AZM) on the Opinaca A and B gold properties in the vicinity of the Eleonore gold deposit, James Bay region, Quebec.
Exploration work performed by the partners since 2005 led to the discovery of significant gold mineralization including the Charles, Smiley and Inex prospects at Opinaca A, as well as the Dominic and Claude prospects at Opinaca B, for which results have been previously reported. The Claude prospect is considered to be one of the most significant discoveries at Opinaca with a drill intercept of 0.21 g/t Au over 186.8 m, including 1.0 g/t Au over 21.5 m. Several attractive well-defined targets on the two properties have yet to be drilled.
The Opinaca A property is adjacent to the northern boundary of Goldcorp's Eleonore property hosting the Roberto gold deposit containing an estimated 3.2 million ounces of indicated gold resources at an average grade of 11.92 g/t Au and 6.3 million ounces of inferred gold resources at an average grade of 12.93 g/t Au; (Source: Goldcorp - MD&A, for the year ended December 31, 2009). The Opinaca B property is located about 8 km southeast of the Eleonore property. The Opinaca A and B properties comprise 429 and 220 claims respectively covering 338 km2. Everton earned its 50% interest after completing exploration programs totalling $4,800,000 and cash payments totalling $540,000 over a 5-year period.
Commenting on the earn-in, Everton's President and CEO, Andre Audet said: "We are very pleased to have completed our second 50%earn-in during the second quarter. In March, we announced completing the earned interest from GlobeStar Mining Corporation in the Dominican Republic and we have now completed a significant milestone with the Opinaca earn-in in James Bay. We believe our strategy of establishing significant earned interests adjacent to established mineral deposits with well respected partners will provide ongoing benefit and value to Everton shareholders. E verton will be updating its plans in light of Goldcorp's recent impressive progress at Eleonore. We're very encouraged about the prospects going forward."
Everton also hold 100% interest in the Wildcat project located adjacent to the Opinaca and Eleonore properties. The Wildcat project is comprised of eight different blocks totalling 755 claims for 395 km2. Exploration work conducted to date by Everton led to the discovery of the Inex Extension gold zone, which is located on trend with the Inex prospect along a 2.8 km long gold corridor, and the Manuel gold prospect which returned 12.0 g/t Au over 4.6 m in a channel sampling.
This news release was prepared by 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 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.
For more information, please contact:
Chairman & CEO
Tel: 613 241 2332 Fax: 613 241 8632
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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.
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