Toronto - 22nd July 2004 -- Everton Resources (TSXV-EVR) and GlobeStar Mining Corporation (TSXV-GMI) are pleased to report the re-calculation of previous drilling at Dona Loretta by GlobeStar geologists, within the Bayaguana joint venture in the Dominican Republic. The current drill program identified breccia zones within a previously unrecognized large scale copper-bearing porphyry system (see press release of 20th July 2004). The mineralization at Dona Loretta is open at depth, and in all directions.
This release describes earlier drilling on the property, allowing observers to put the discovery in context. These results have not been previously released by Everton and GlobeStar, and the intersections have been re-calculated taking the new porphyry breccia interpretation into account.
In 1990, 6 holes were drilled at Dona Loretta by Falconbridge (see locations on our website, evertonresources.com). The drilling was concentrated in a small, 300 m by 300 m area, following up on the high grade hole CC-01, the first hole ever drilled on the property which returned 64 m grading 2.0 % copper. In 1999, the seventh hole, CC-07 was drilled as a due diligence twin hole parallel to CC-01, which returned 53.4 m grading 1.2% copper. Previous reporting of these holes concentrated on a high grade copper core zone, approximately 20 metres wide, with CC-07 returning 24 metres grading 2.0% copper.
|
Dona Loretta - Assays |
|
|
|
|
| |
|
From |
To |
Length |
Grade Cu |
Grade Au |
| |
|
33.5 |
97.50 |
64.00 |
2.00 |
0.26 |
|
CC-01 |
Incl. |
52.8 |
65.50 |
12.70 |
4.13 |
0.55 |
| |
Incl. |
68.5 |
73.00 |
4.50 |
4.20 |
0.28 |
| |
and |
36 |
76.40 |
40.40 |
2.99 |
0.38 |
|
CC-02 |
|
28.9 |
83.80 |
54.90 |
0.54 |
|
| |
Incl. |
44.2 |
67.00 |
22.80 |
0.69 |
|
| |
and |
71.6 |
82.20 |
10.60 |
0.60 |
|
|
CC-03 |
|
40.9 |
58.85 |
17.95 |
0.69 |
|
|
CC-04 |
|
No significant values |
|
|
|
CC-05 |
|
No significant values |
|
|
|
CC-06 |
|
36 |
42.10 |
6.10 |
0.57 |
|
| |
|
78 |
87.00 |
9.00 |
0.48 |
|
| |
|
36 |
87.00 |
51.00 |
0.30 |
|
|
CC-07 |
|
34.15 |
87.50 |
53.35 |
1.21 |
|
| |
Incl. |
34.15 |
59.50 |
25.35 |
1.96 |
|
The significant copper intersections in holes CC-02, CC-03 and CC-06 are consistent with the brecciated porphyry model identified in the latest drilling.
"The original model of mineralization focussed on a structural model," said Bill Fisher, GlobeStar's president. "The multiple breccia zones discovered in the 2004 drilling open the potential for a very large scale porphyry copper system, and is consistent with earlier drilling".
Drilling is ongoing and results will be released as the program develops. Everton is earning into the joint venture by funding exploration programs and GlobeStar is the operator. The companies also are to drill the Los Hojanchos target, which is located 13 kilometres south east of the Pueblo Viejo gold mine.
Marc L'Heureux, Vice-President Exploration of Everton, acts as the Qualified Person for the Bayaguana project.
The TSX Venture Exchange neither approves nor disapproves of the information contained in this News Release. The Company’s Shares are listed on the TSX Venture Exchange and trade under the symbol "EVR".
For more information, please contact
Andre Audet
Chairman & CEO
Tel: 613 241 2332 Fax: 613 241 6005
[email protected] www.evertonresources.com
or
Dwane Brosseau
Manager of Investor Relations
Tel: 604 662 4955 Fax: 604 662 4988
[email protected]
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