Everton Resources Inc.

Everton Resources Inc.

December 07, 2007 08:30 ET

Everton and Azimut Plan a Winter Drill Program at Opinaca

OTTAWA, ONTARIO--(Marketwire - Dec. 7, 2007) - Everton Resources Inc. (TSX VENTURE:EVR)(FRANKFURT:ERV) ("Everton") and Azimut Exploration Inc. (TSX VENTURE:AZM) ("Azimut") announce their plan for a winter 2008 drill program based on the results of exploration work conducted earlier this year on the Opinaca A and B properties in the James Bay region of Quebec.

2008 winter program

Recognizing the favourable geological setting and the quality of the mineralized targets in the vicinity of the Eleonore gold deposit for which Goldcorp recently announced an initial gold resource of 2.8 million ounces and a near-term target of 5 million ounces, Everton will conduct the following winter program:

Geophysics starting in January, which will consist of 100 line-km of induced polarization (IP) and magnetic ground surveys:

- Opinaca A - over the southern portion of the property (4 km north of the Eleonore gold deposit); and

- Opinaca B - along the Claude-Manuel corridor between Azimut's Claude Target (optioned by Everton) and the Manuel Showing (12.0 g/t Au over 4.6m), which is on Everton's Wildcat 5 property.

Drilling starting in March, based on the results of the geophysical surveys:

- Opinaca A - Charles Target and the western extension of the Smiley Target; and

- Opinaca B - Dominic Target, a newly discovered target along the Claude-Manuel corridor.

Results of the 2007 programs

The 2007 summer and fall programs consisted of:

- 40 line-km of IP and magnetic ground surveys;

- 500 km of traverses;

- the collection of nearly 2,000 rock samples;

- trenching; and

- 1,650m of drilling.

Opinaca A - Charles Target and Smiley Target

Eight drill holes (totalling 969m) were completed to test the extensions of the Charles Target where surface sampling over an area of 1300m by 100m identified values up to 35.9 g/t Au, including 9 values over 10.0 g/t Au and 35 values over 1.0 g/t Au. All drill holes intersected altered metasediments containing variable amounts of sulphide mineralization. The most recent interpretation of the Charles Target suggests a possible extension further south. The table below summarizes the best drill intersections:

Hole # From (m) To (m) Length (m) Au g/t
AC-07-01 141.0 150.0 9.0 0.8
including 141.0 143.0 2.0 2.7
AC-07-02 140.2 144.1 3.9 0.9
169.6 177.0 7.4 0.5
212.2 218.5 6.3 0.8

Three other holes were drilled at the Smiley Target. Sulphide mineralization was intersected in each drill hole but no significant values were obtained.

Opinaca B - Dominic Target and Claude Target

Gold values obtained at the Dominic Target returned 6.1 g/t Au, 4.5 g/t Au and 1.7 g/t Au associated with pyrite in silicified and chloritized metasedimentary rocks with quartz and pegmatite veins (press release dated August 9, 2007). Another sample located 3 km southwest along the corridor returned a value of 1.2 g/t Au.

Rock sampling and trenching in the Claude Target area (for which drill hole OP-06-07 previously returned 1.0 g/t Au over 21.5m) yielded grab samples with gold grades of 5.8 g/t Au and 4.3 g/t Au, and a channel sample grading 2.4 g/t Au over 0.5m. These results were obtained from a new mineralized zone that trends parallel to the northern edge of the main Claude Target.

Everton has the option to earn from Azimut a 50% interest on the Opinaca A and B properties, and may earn an additional 15% interest upon the delivery of a bankable feasibility study. Everton is the project operator.

This press release was reviewed 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 NI 43-101. Samples were assayed by Laboratoire Expert Inc. of Rouyn-Noranda, Quebec.

Everton is well funded and actively exploring in the Opinaca region of James Bay, Quebec where Everton has amassed one of the largest land claims adjacent to Goldcorp's (NYSE:GG)(TSX:G) Eleonore gold deposit where Goldcorp recently announced an initial gold resource of 2.8 million ounces. Everton is also actively exploring in the Dominican Republic adjacent to where the world's largest gold mining company, Barrick Gold (NYSE:ABX)(TSX:ABX) is partnering with Goldcorp to develop, at an estimated cost of $2.3 billion, the Pueblo Viejo deposit, that contains 18.1 million ounces of gold, 2.6 billion pounds of zinc, 358 million pounds of copper and 88 million ounces of silver.

This press 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.

The Company's Shares are listed on the TSX Venture Exchange and trade under the symbol "EVR".

The TSX Venture Exchange neither approves nor disapproves of the information contained in this News Release.

Contact Information

  • Everton Resources Inc.
    Maureen Doherty
    Manager Corporate Communications
    (613) 241-2332
    (613) 241-8632 (FAX)
    Everton Resources Inc.
    Todd Opalick
    Capital Capital Inc.
    (613) 241-2332
    (613) 241-8632 (FAX)
    Email: todd@evertonresources.com
    Everton Resources Inc.
    Andre Audet
    President & CEO, Chairman
    (613) 241-2332
    (613) 241-8632 (FAX)
    Email: andre@evertonresources.com
    Website: www.evertonresources.com