03/07/2003
Everton and Globestar Sign Strategic Alliance in the Dominican Republic: $750,000 Work Program Starts on Bayaguana Joint Venture
TORONTO, ONTARIO--Everton Resources Incorporation (EVR-TSXV) and Globestar Mining Corporation (GMI-TSXV) announce the signing of a strategic alliance in the Dominican Republic. The alliance will aggressively seek new properties for precious and base metal exploration in the highly prospective country, host to major world class ore deposits at Falcondo Nickel and Pueblo Viejo gold mine, currently under evaluation by Placer Dome.
In other news, the work has started on the Bayagauna joint venture (see press release of February 11th 2003). The targets are within the Los Ranchos formation, host to Pueblo Viejo, the second largest gold mine in the Americas, 60 kilometres west of the project. The Bayaguana district is the largest and most important high sulphidation system discovered in the Los Ranchos formation to date outside of Pueblo Viejo.
Everton will spend a minimum of $750,000 in Exploration work during 2003. The bulk of expenditures will be focussed on the Guaimarote-Trinidad gold soil anomaly (2.5km x 1.2 km) and the Dona Loretta copper gold target. Exploration work will consist of soil and rock sampling, ground geophysics (Mag and I.P.), trenching and 2000 metres of diamond drilling. A total of 291 rock samples were sent last week to the ALS-Chemex- Chimitec laboratories in Val D'Or, Quebec, for gold and base metals analysis. Results are expected within next week.
Everton and Globestar will be exhibiting at the PDAC conference in Toronto and can be found at Booth number 2428. On Monday 10th March the companies are jointly hosting a reception in honor of Eduardo Fernandez, the Dominican Ambassador to Canada, Pedro Vasques Chavez, the Director of Mining and Miguel Pena, Executive Director of Unidad Cooperative Minera. The reception will be held at the Royal York Hotel on Monday 10th March, between 6.00 and 8.00 p.m. Invitations can be obtained from the companies booths at the PDAC or the joint host, Energold Mining Ltd at booth 2209.
Contact:
Everton Resources Incorporation
Dwane Brosseau
Phone: (604) 662-4955
Fax: (604) 662-4988
Email: [email protected]
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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