News
Everton announces Hecla will commence a $756,000 exploration program on the Opinaca B gold property, James Bay, Quebec
Thursday, April 21, 2016
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Ottawa, Ontario - (April 21, 2016) - Everton Resources Inc. (“Everton” or the “Company”) (TSX-V:EVR) announces that Hecla Mining Company (“Hecla”) will invest $756,000 in an exploration program on the Opinaca B gold property, presently held by Everton and its partner Azimut Exploration Inc.
The Opinaca B Property, which comprises 235 claims covering 122.9 km2, is located in a highly prospective part of the Eleonore mining camp (see appended figure). It is adjacent to the east side of the Cheechoo Property held by Sirios Resources Inc. and Golden Valley Mines Ltd.
Starting in June 2016, Hecla will fund a comprehensive exploration program at Opinaca B, which will consist of prospecting and extensive mechanized trenching with the planned collection of about 2,000 rock samples in three target zones. This program is supported by encouraging gold results from previous diamond drilling and till sampling campaigns.
Hecla has the option to acquire a 50% interest on the Opinaca B Property by incurring $6 million in exploration work. During a second option phase, Hecla may earn an additional 10% interest, for a total of 60%, by incurring at least $3 million in exploration work and by delivering an independent pre-feasibility study. If mineral resources containing at least 2 million ounces of gold at a grade of at least 6 g/t Au are discovered before the end of the eighth year of the initial option agreement, Hecla shall make a payment of $1.5 million in Hecla common shares. Everton will receive 50% of these issued shares (see press release dated September 16, 2010).
About Everton Resources Inc.
Everton is an exploration company with concessions in the Dominican Republic adjacent to the Pueblo Viejo Mine, owned by the world’s two largest gold mining companies, Barrick Gold Corporation (60%) in partnership with Goldcorp Inc. (40%) ("Goldcorp"). Everton also holds an interest in the Opinaca region of James Bay, Quebec where the Company has partnered with Hecla Mining Company which is advancing Everton's interest in the Opinaca B project by funding 100% of all exploration work on one of the largest land packages adjacent to Goldcorp's Eleonore gold deposit.
For further information on Everton Resources Inc., please visit:
www.evertonresources.com.
Everton Resources Inc.
Andre Audet
Chairman and CEO
Tel.: 613-241-2332
Fax: 613-421-8406
[email protected]
www.evertonresources.com
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 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, except in accordance with applicable securities laws. Accordingly, readers are advised not to place undue reliance on forward-looking information. 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.
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.
The Opinaca B Property, which comprises 235 claims covering 122.9 km2, is located in a highly prospective part of the Eleonore mining camp (see appended figure). It is adjacent to the east side of the Cheechoo Property held by Sirios Resources Inc. and Golden Valley Mines Ltd.
Starting in June 2016, Hecla will fund a comprehensive exploration program at Opinaca B, which will consist of prospecting and extensive mechanized trenching with the planned collection of about 2,000 rock samples in three target zones. This program is supported by encouraging gold results from previous diamond drilling and till sampling campaigns.
Hecla has the option to acquire a 50% interest on the Opinaca B Property by incurring $6 million in exploration work. During a second option phase, Hecla may earn an additional 10% interest, for a total of 60%, by incurring at least $3 million in exploration work and by delivering an independent pre-feasibility study. If mineral resources containing at least 2 million ounces of gold at a grade of at least 6 g/t Au are discovered before the end of the eighth year of the initial option agreement, Hecla shall make a payment of $1.5 million in Hecla common shares. Everton will receive 50% of these issued shares (see press release dated September 16, 2010).
About Everton Resources Inc.
Everton is an exploration company with concessions in the Dominican Republic adjacent to the Pueblo Viejo Mine, owned by the world’s two largest gold mining companies, Barrick Gold Corporation (60%) in partnership with Goldcorp Inc. (40%) ("Goldcorp"). Everton also holds an interest in the Opinaca region of James Bay, Quebec where the Company has partnered with Hecla Mining Company which is advancing Everton's interest in the Opinaca B project by funding 100% of all exploration work on one of the largest land packages adjacent to Goldcorp's Eleonore gold deposit.
For further information on Everton Resources Inc., please visit:
www.evertonresources.com.
Everton Resources Inc.
Andre Audet
Chairman and CEO
Tel.: 613-241-2332
Fax: 613-421-8406
[email protected]
www.evertonresources.com
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 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, except in accordance with applicable securities laws. Accordingly, readers are advised not to place undue reliance on forward-looking information. 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.
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.
