Everton Resources Inc. (“Everton” or the “Company”) and Hecla Mining, through its 100% subsidiary Hecla Quebec, have agreed to transfer the Wildcat 1 and 2 properties to Everton.
The Wildcat 1 and 2 properties consist of 129 claims located from 5 to 20 km northwest of the Roberto gold deposit owned by Goldcorp Inc. All the rights, titles, and interests in the property have been transferred to Everton in consideration of a 1.0% net smelter royalty (NSR) on the properties. Everton reserves the right to purchase one half (1/2) of one percent (1%) of the NSR royalty, by paying to Hecla the sum of CAD $500,000.
Geologically, these claims straddle the contact of a granodiorite intruding high grade metasediments (migmatite) including a narrow bands of wacke of lower metamorphism. Everton initiated a follow-up exploration program, the first phase of which were completed in July 2016. Analytical results from this first phase one are still pending. The second phase is now under planning following the recent reception of exploration data carried out by Hecla. Although the analysis of these data is not fully completed, the next exploration phase will included follow up over auriferous tills and grab sampling from boulder and bedrock. This data will also be examined for other minerals and lithium. The swamp covered areas will be investigated with ionic leaching geochemistry. The Company also intends to follow up other gold anomalies obtained in past exploration programs by Everton.
André Audet, Chief Executive Officer and President of Everton, commented, “Everton considers the transfer of Wildcat 1 and 2 properties as a positive development for the Company. It strengthens our land position only a few kilometers away from the Eleonore gold deposit.”
The technical content of this release was reviewed by Rémi Charbonneau, P.Geo., a qualified person as defined by the National Instrument 43-101.