03/27/2003
EVERTON (EVR) and GLOBESTAR (GMI) announce positive gold results from the Bayaguana Gold Project in the Dominican Republic. Grab samples up to 5.5 g/t of Gold
Everton Resources Inc. (EVR-TSXV) and Globestar Mining Corp. (GMI-TSXV) are pleased to announce positive gold results from an extensive rock-sampling program on the Bayaguana Project in the Dominican Republic. Highlights include samples of up to 5.5g/t gold at Trinidad, 2.7 g/t gold at Loma Managua and 1.29% copper at Trinidad north.
"The Bayaguana Project merits vigorous exploration as the geological setting, structure, hydrothermal alteration and mineralization are similar to the nearby Pueblo Viejo gold mining district.,” commented Bill Fisher, GlobeStar's President. The Pueblo Viejo mine has produced over 5 million ounces of gold from the weathered surface material and contains a remaining sulphide resource of 544 M tonnes at 1.98 g/t Au and 11.76 g/t Ag (Ruiz, 1997). Past production plus announced resources (at 1 g/t Au cut-off) approach 40 million ounces. The deposit is currently under assessment by Placer Dome.
Exploration to date on the Bayaguana Project has established gold, silver and copper resources at Cerro Kiosko (4.9 Mt @ 2.0 g/t Au, 5.06 g/t Ag and 1.0% Cu; Patrick, 1998) and Dona Amanda (45.5 Mt @ 0.45% Cu and 0.22 g/t Au; Chenard, 2000, 2002). Sampling and drilling at Trinidad and Dona Loretta have established additional gold and copper mineralization. These results suggest an emerging district in which hydrothermal alteration is continuous across the entire project, an east-west distance of 15 km. Bayaguana district is the largest hydrothermal system yet identified in the Los Ranchos Formation outside Pueblo Viejo district.
The extensive Trinidad gold soil anomaly covers and area of 2.5 km x 1.2 km in the eastern part of the Bayaguana Project. The current rock-sampling program was undertaken to confirm the anomalous gold zone and to define the overall gold content of rock from two areas showing strong silicification and argillic alteration. A total of 307 samples were collected over a surface of 10 km2 from the Trinidad and Loma Managua exploration targets areas. The gold soil anomaly at Trinidad was confirmed by the presence of 15 samples grading from 0.5 g/t Au to 5.46 g/t Au, while 8 samples returned values from 0.5 g/t Au to 2.72 g/t Au on Loma Managua. More than 70 samples from the two target areas graded over 100 ppb Au, confirming their anomalous character in gold.
“Based on these excellent results, Everton will immediately commence an extensive trenching program on the Trinidad concession”, Says Dwane Brosseau, President of Everton Resources Inc.
Results to date on the Bayaguana Project are encouraging. GlobeStar and Everton are currently undertaking an exploration program comprising soil sampling, ground geophysics, trenching and drilling for a total budget of US$ 500,000 in 2003. The bulk of this budget will be devoted to the Trinidad and the Dona Loretta targets.
On Behalf of EVERTON RESOURCES INC.
Dwane Brosseau
President and “CEO”
For more information, please contact Dwane Brosseau at Ph: 604-662-495
[email protected]
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”.
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