OTTAWA, ONTARIO--(Marketwired - Jan. 23, 2017) - NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
Everton Resources Inc. ("Everton" or the "Company") (TSX VENTURE:EVR) (FRANKFURT:EVR) (OTCQX:EVRRF) is pleased to announce that Hecla Mining Company ("Hecla") (NYSE:HL) will invest $925,000 in an exploration program on the Opinaca B gold property, held by Everton and its partner Azimut Exploration Inc. (TSX VENTURE:AZM).
The 2017 program will consist of a ground magnetic and electro-magnetic survey, followed by 2,500 metres of diamond drilling that will focus on two targets with strong potential for gold discoveries: the Dominic area and the Fishhook structure (see appended figures). Hecla greatly improved the definition of these targets during the 2016 program, which included a detailed interpretation of previous magnetic data and comprehensive field work. The Opinaca B property, comprising 248 claims covering 129.7 km2, is located in a highly prospective part of the Eleonore mining camp.
Field work conducted in 2016 consisted of the following: prospecting and the collection of 548 rock grab samples; mechanized stripping in 6 different areas; and channel sampling along 10 distinct channels for a total length of 202.2 metres.
A total of 12 grab samples returned values higher than 0.1 g/t Au, including 1.4 g/t Au and 1.1 g/t Au from outcrops (Dominic Prospect), and 1.4 g/t from a block (Fishhook Prospect). These anomalous values are generally associated with metasediments and paragneisses carrying sulphides and/or magnetite.
A total of 9 channel samples returned values higher than 0.1 g/t Au in metasediments, including 1.8 g/t Au over 0.75 m and 1.2 g/t Au over 1.0 m from the Dominic Prospect.
Hecla has the option to acquire a 50% interest in the Opinaca B property by incurring $6 million in exploration work. The Company anticipates this expenditure should be completed by November 2017. Following this first option, Hecla has been granted a second option which terms have been described in Everton's press releases dated September 16, 2010 and April 21, 2016.
This press release was prepared by geologist Jean-Marc Lulin, acting as Azimut's Qualified Person under NI 43-101.
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. Everton recently announced the acquisition of two properties: the Blue Sky Jackpot lithium property in Ontario and the Detour Lake gold property in Quebec.
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.