Everett Resources Commences 2,000 Meter Drill Program on Menarik Polymetallic Property, Quebec
Everett Resources Ltd. is pleased to announce the start of the initial 2011 diamond drilling program at its Menarik polymetallic property, located in the James Bay area of the province of Quebec. A minimum of 2,000 meters will be drilled in this program, to test multiple targets, as the property hosts stratiform chromite horizons and magmatic massive sulphides in Menarik ultramafic intrusion, nickel-copper concentrations in the altered zones, gold targets and mineralized felsic volcanic on the edges. All the core samples will be prepared and submitted to ALS-Chemex in Val-d’Or, Quebec for analysis.
Everett can earn a 50-per-cent interest in the Menarik property held by Pro-Or Inc. (Ressources Minieres) by issuing 4.5 million common shares to Pro-Or Inc. over two years and incurring $5-million in exploration and development work on the property over a period of three years.
“We are extremely pleased to have started the drill program at Menarik, and we’re very fortunate to have DJM Drilling Inc., of Rouyn-Noranda, for the spring drilling program. Everett will be very systematic and aggressive in their approach to exploration on the property, and the drill program underway will be a very good test of the size of the system,” commented Mike Waggett, President.
A panoramic view of the Menarik polymetallic property, which outlines the main areas of mineralization as well as additional defined areas of mineralization, can be seen on the Everett Website at the following link: http://bit.ly/MenarikMap
A 43-101 compliant measured and indicated resource estimate of chromite made for joint venture partner Ressources Minieres Pro-Or Inc. in 2006 by the consultant group Roche from Quebec City and updated in 2009 by Yvan Bussieres, P.Eng. reports a total exceeding 6.2 million metric tons grading on average 7.69% Cr2O3. The report can be found on SEDAR (www.sedar.com) or Company’s website www.everettresources.com.
Quality Assurance/Quality Control
The exploration program and the technical information presented in this press release have been reviewed and approved by Yvan Bussieres, P. Eng. Mr. Bussieres is a qualified person as defined by National Instrument 43-101. The Menarik exploration program is conducted under the supervision of Mr. Bussieres. Everett has implemented and adheres to a strict Quality Assurance/Quality Control program. Assay samples are taken from drill core sawed in half with one half sent to a commercial laboratory and the other half retained for future reference. Analyses will be performed by accredited laboratory ALS-Chemex in Val-d’Or, Quebec.
