Everton Resources Inc. (XE:765957)
Historical Stock Chart
3 Years : From Feb 2012 to Feb 2015
Everton Resources Inc. ("Everton")(TSX VENTURE:EVR) (OTCQX:EVRRF) (FRANKFURT:ERV) is pleased to announce that its partner Aurizon Mines Ltd ("Aurizon") identified several new gold targets on the Opinaca and Wildcat properties in 2012. The upcoming 2013 work program will include a diamond drilling phase. The Opinaca and Wildcat properties are located near Goldcorp's Eleonore gold deposit in the James Bay region of Quebec.
Aurizon recently informed Everton that it will renew its option for a second year on the Wildcat (1 to 7) and the Opinaca (A, B and B-North) properties. The Opinaca properties are subject to a three-way agreement with Azimut Exploration Inc (TSXV: AZM) (see press release dated September 16, 2010). Azimut and Everton currently hold a 50% interest these properties.
Andre Audet, Chairman and Chief Executive Officer of the Corporation said "Everton is pleased that Aurizon is aggressively moving the project forward and continuing with its earn in option for a 3rd year and is planning on intensive winter drill program in 2013. The results continue to show the potential for discoveries on these properties adjacent to the multimillion ounces Eleonore Mine being developed by Goldcorp and going in production on 2014".
Aurizon's extensive 2012 program comprised:
On Opinaca Properties:
-- 622 line-kilometres of helicopter-borne magnetic-EM survey
-- 684 soil samples
-- 243 rock grab samples
-- 290 channel samples
-- 93 till samples
On Wildcat Properties:
-- 728 line-kilometres of helicopter-borne magnetic-EM survey
-- 303 soil samples
-- 763 rock grab samples
-- 15 channel samples
-- 146 till samples
The main results from the 2011 and 2012 exploration campaign are the discovery of three significant outcropping targets-the D8, Eric and Penelope prospects-on the Opinaca B property. Two additional targets-Baileys prospect on Wildcat 3 property and Autor prospect on Wildcat 6 property-are characterized mainly by gold bearing boulders with associated till gold anomalies. These targets, located along an east-west structure at the boundary between the Opinaca and La Grande geological subprovinces, share similarities with the geological context of the Eleonore deposit.
The D8 trench displays a 20-metres-wide sheared and altered sedimentary unit with amphibolite and quartz-tourmaline veinlets. Best channel sampling results include 2.3 g/t Au over 1.0 metre and 0.55 g/t Au over 4.0 metres. This area presents gold anomalies in soil and till.
Located less than 1 kilometre north of D8, eight (8) bedrock samples returned values above 0.1 g/t Au, including 2 samples above 0.5 g/t Au, up to 1.56 g/t Au. The gold-bearing samples were collected within a kilometric-scale arsenic and gold geochemical target in soil. Mineralization is typically related to calc-silicate altered sediments and arsenopyrite-tourmaline-bearing pegmatites.
Located about 1 kilometre west of the Eric and D8 targets, ten (10) bedrock samples returned values above 0.1 g/t Au, including four (4) with values above 0.5 g/t Au up to 4.26 g/t Au. Mineralization is associated with quartz-tourmaline veins and veinlets.
Located halfway between Eric target and Aurizon's Brad target along the same corridor, the Autor target presents the best gold soil anomalies coupled with Au anomalies in till and bottom lake sediments. Thirty-two (32) boulder samples returned values above 0.1 g/t Au, including six (6) with values above 0.5 g/t Au up to 3.81 g/t Au. Three (3) bedrock samples returned values above 0.1 g/t Au, including one sample at 0.93 g/t Au. Gold is associated with both calc-silicate altered sediments with low percentage of sulphides and intense silica-chlorite altered sediments with local tourmaline and locally abundant pyrite. Arsenic enrichment is much more sporadic in this area.
Located about 7 kilometers north-west of the Claude showing, one (1) boulder sample returned 4.11 g/t Au, 1.5 kilometers west of an historic gold bearing boulder. Gold is associated with a garnet and biotite altered paragneiss with 5 percent sulphides including pyrite-pyrrhotite and chalcopyrite mineralization. The mineralized structure seems to pass underneath a nearby lake. This area represents a distinct corridor than the one including all the above targets but share similarities in term of gold and arsenic anomalies in till, bottom lake sediments and soil geochemistry.
Work performed at the scale of the properties, including the collection of till samples and a helicopter-borne magnetic-EM survey, will be used to further define drilling targets. The results of these surveys are currently under review. The Smiley prospect (at Opinaca A), Claude prospect (at Opinaca B) and Conglo prospect (at Wildcat 1) both discovered during previous programs, are still considered very attractive drilling targets.
Rock samples were sent to ALS Minerals in Val-d'Or, Quebec, and were assayed using an ICP method. Soil samples were assayed using the MMI method by SGS Minerals Services in Toronto, Ontario. The helicopter-borne survey was performed by Fugro Airborne Surveys based in Mississauga, Ontario. Martin Demers, P.Geo., Aurizon's Exploration Manager and a qualified person as defined by National Instrument 43-101, has reviewed the data disclosed in this release.
About Everton Resources Inc.
Everton is actively exploring in the Dominican Republic adjacent to Pueblo Viejo project, currently being mined by the world's largest gold mining company, Barrick Gold Corporation (60%) in partnership with Goldcorp Inc. (40%) ("Goldcorp") (NYSE:GG)(TSX:G). Everton also holds an interest in the Opinaca region of James Bay, Quebec where the Company has partnered with Aurizon Mines Ltd. who is advancing Everton's interest 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.
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.
Chairman and CEO