Everton Resources (TSXV-EVR) and GlobeStar Mining Corporation (TSXV-GMI) are pleased to announce the beginning of a drill program on the Los Hojanchos concession, in the Dominican Republic.
The Los Hojanchos concession is located 12 kilometres to the SE of the giant Pueblo Viejo high sulphidation gold orebody, which contains over 16 million ounces of gold. In May 2004, the Dominican Government granted a new five-year exploration concession at Los Hojanchos to GlobeStar’s Dominican subsidiary, and Everton is earning into the project by funding exploration.
The targets are contained within a 1.0 x 2.0 km zone where intense argillitization and silicification of the volcanic units were observed. Within this alteration, the mineralization consists of steeply dipping bands of massive, semi-massive and disseminated sulphides hosted by silicified volcanics. A NW-SE favorable corridor of possible precious and base metals mineralization has been interpreted from Pueblo Viejo to Los Hojanchos properties.
The 6 to 8 hole-program was planned based on interpretation of newly generated geology, remote sensing interpretation, alteration, geochemical anomalies and induced polarization (IP) geophysical conductors.
In July 2004, the partners announced a new porphyry discovery at Dona Loretta in the Los Ranchos Formation, and also drilled at Dona Amanda where the existing resource is 45 million tonnes grading 0.45% copper. The partners are evaluating the data and a second phase of drilling is planned for later on this fall.
Marc L’Heureux, P. Geo., Vice-President Exploration for Everton, supervises the Los Hojanchos project and acts as the Qualified Person (as defined by National Instrument 43-101) for the project.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. The Company’s Shares are listed on the TSX Venture Exchange and trade under the symbol “EVR”.
For more information, please contact
Dwane Brosseau -Manager of Investor Relations- [email protected]
Tel: 604 662 4955 Fax: 604 662 4988
André Audet- Chairman and CEO- [email protected]
Tel: 613 769 1248 Fax: 613 241 6005