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Everton Resources “Way Undervalued”

Not many junior exploration companies can afford to be actively exploring in three parts of the world at the same time. But with the steady flow of encouraging results that have been flooding through their gates, Everton Resources has been doing just that.

Everton Resources is a well funded junior exploration company with properties in the Dominican Republic, in Ontario and in Quebec. The company provides investors with an exceptional portfolio of active projects in three separate and distinct emerging gold and base metals districts.

Andre Audet speaks confidently and proudly of the properties Everton has so expertly explored. With recently updated assays from the company’s Dominican Republic properties showing high grade values, Audet has every reason to be confident; “These confirming results provide positive evidence our 2010 drilling campaign is on track in meeting both our operational and shareholder objectives”.

So what exactly is happening with Everton to please its chairman so? “We’re in the right market, in the right spot and at the right time,” says Audet “and our solid history and management talent play to the opportunities in the Dominican Republic and in Canada.”

Dominican Republic Projects
Everton is actively exploring in the Dominican Republic, with land claims totalling 382 km², adjacent to where the world’s largest gold mining company, Barrick Gold is partnering with Goldcorp to develop the Pueblo Viejo deposit, at an estimated cost of $2.7 billion

The deposit contains 29.6 million ounces of gold, 4.8 billion pounds of zinc, 621.7 million pounds of copper and 173.6 million ounces of silver (December 2008). Everton also holds an impressive land package adjacent to Xstrata’s Falcondo nickel mine in the Dominican Republic.

Drilling just a kilometre away from such a ridiculously prosperous property can only bode well for Everton. With its partner Linear Gold Corp, Everton just recently announced highly promising updates from two drill holes at the La Lechoza Prospect. The two drill holes reported are: APV10-04 from the Spanish Pit area and APV10-07 from the newly discovered Pon Hill Zone.

Highlights for these two holes are: Hole APV10-04, 6.00 meters (11.00 to 17.00 meters) @ 192.50 g/t silver, including 1.50 meters (11.00 to 12.50 meters) @ 764 g/t silver. Hole APV10-04 confirms high grade silver mineralization intersected in the hole APV09-24 of the 2009 drilling campaign (reported by Everton Resources Inc., January 14, 2010).

In hole APV10-07 from the Pon Hill Zone new discovery, located approximately 250 meters southwest of APV10-04 and 450 meters south from the main North Hill Zone at La Lechoza: 19.50 meters (5.00 to 24.50 meters) @ 51.74 g/t silver, including 2.50 meters (9.50 to 12.00 meters) @ 316.4 g/t and including 1.5 meters (9.50 to 11.00 meters) @ 410 g/t silver.

Not content with these amazing results and already one new discovery, Audet has even greater things in mind for Everton and the Dominican Republic. “in and around the Pueblo Viejo mines… there’s potential for multiple discoveries.” Having just finished drilling, Audet intends to return to the area in about a month’s time. “We’d like to do another 10,000 metres of drilling in the Dominican Republic, in and around Pueblo Viejo, with our partners Linear Gold. So that’s something to watch.” And with results like his, watch we will.

Ontario Projects
Despite the busy goings-on down in the Dominican Republic, Everton is also active in Ontario. The company recently acquired Hays Lake Gold Inc., a private mining exploration company with various options to acquire a consolidated land package located in the Shoal Lake area, near Kenora, Ontario. The 38 km² Shoal Lake Gold Project is comprised of two significant high grade gold deposits: Duport and Cedar Island.

Everton completed the acquisition of Hays Lake Gold ("HLG") in September 2009, whereby the Company acquired all of the issued and outstanding shares of HLG. HLG has various options to acquire a consolidated land package located in the Shoal Lake region of north-western Ontario, in the prolific Archean Greenstone Belt.

Two significant high grade gold deposits with an in-situ NI 43-101 compliant indicated resource of 416,000 oz of gold and an inferred resource of 282,000 oz of gold have been identified on this land package; including the Cedar Island gold deposit located on the mainland (SLE) and the nearby Duport gold deposit located on Stevens Island (SLW).

With 4 drill rigs active at the moment on the Shoal Lake property, Everton have announced an 8000 metre drill program and right now are on their 18th hole. Expecting results on the first few holes in early March, Audet has high hopes for this property; “we think we can bring this resource to over a million ounces very quickly.”

Regarding Everton’s remarkably active and impressively successful projects in both the Dominican Republic and Canada, Audet sums up the implications for the company; “what this means for Everton is a constant news flow of drilling coming out of Ontario and coming out of Dominican Republic.”

Quebec Project
We’re not finished yet. Everton is also exploring in the Opinaca region of James Bay, Quebec where the company has amassed a large land claim adjacent to Goldcorp’s Eleonore gold deposit, acquired from Virginia Mines for approximately $500 million, where Goldcorp announced a gold resource estimate of 5.31 million ounces of gold in December 2008 (total resource, all categories).

Everton holds an impressive land position with over 699 km² in Quebec and is one of the largest landholders around the Eleonore gold discovery in the Opinaca region.

Although Everton aren’t active on the project at the moment, they are interested in optioning it to a major company. Considering its proximity to Goldcorps recently announced 10 million ounces, Audet sees great potential for this property. With the lack of infrastructure and access however, we won’t be hearing more from Everton on this until they option it to a major.

The Everton Team
Although still a junior company, Everton Resources is making its mark in the world of mining. With Andre Audet at the helm, this should come as no great surprise. With more than 20 years of experience in the financing of public companies, Audet was also Vice-President at BMO Nesbitt Burns specializing in private portfolios and mining investments and a Financial Advisor at Midland Doherty and Royal Trust.

“Part of investing in exploration companies is in the talent of the management and the integrity of their plan.”, says Chairman Audet. “We’ve gathered together the experience and the expertise and coupled it with these exciting property opportunities.”

As well as the Chairman of the Board of Everton, Andre is Chairman of the Board of Majescor Resources Inc. & Adventure Gold Inc., a Director of Mazorro Resources Inc., and three publicly-traded junior mining exploration companies.

So Why Everton?
With ambition and success stamped all this company, Audet explains why Everton might catch the investors eye –

1. “We are on solid financial footing and have the management and experience” to undertake an extensive and thorough drilling program.
2. “Our properties are strategically located.” Both the Dominican Republic and the Ontario properties are positioned around some of the biggest gold deposits in the world.
3. “Our company is undervalued.” Everton is trading at about $20 an ounce while most companies with the indicated resources that Everton have are trading at about $60 an ounce.
4. “For all these reasons we are different and we want investors to know it.” The challenge today is to separate from the competition and tell your story. Everton intends to do that.

Follow the company’s progress online at www.evertonresources.com.

SOURCE: http://www.midasletter.com/news/10030801_Everton-resources-way-undervalued.php


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