02/03/2004
New Geochemical Results And Completion Of The First Phase Of Drilling On Bayaguana Properties, Dominican Republic
EVERTON RESOURCES INC. (EVR – TSXV) and GLOBESTAR MINING CORP. (GMI – TSXV) are pleased to announce the completion of the first phase of the drilling program and new copper-in-soil results on the Bayaguana Group of properties in the Dominican Republic.
Anomalous copper-in-soil results up to 476 ppm were obtained from a 516-soil sample survey carried out last fall in the vicinity of the Dona Loretta copper target where historical hole CC-07 intercepted 24.14 m @ 2.03% copper and 0.3 g/t gold. The copper-in-soil anomalies are distributed in three different clusters covering a total area of 2 km2. One of the clusters is located 200 meters in the northwestern extension of hole CC-07. A followup exploration program consisting of an IP geophysical survey is planned to be conducted in March prior to drilling.
The first phase of the drilling program was completed last week on the Trinidad North copper target and on the Dona Amanda copper deposit. A total of four holes were drilled on the Trinidad North copper target in order to test IP conductors in coincidence with soil anomalies in copper. Results from the laboratory are expected within the next three weeks. Another round of drilling on this target is planned to start in March.
Two drill holes were also completed on the large scale Dona Amanda copper & gold deposit that hosts an inferred resource of 45.5 Mt @ 0.45% Cu and 0.22 g/t Au (Chénard, 2000). Recent re-interpretation of the deposit predicts good leachability coupled with low overburden stripping ratio, coupled with heightened interest in easily exploitable copper deposits due to the highest copper prices for 10 years. Lakefield Laboratories willperform metallurgical testing from the two new drill holes. Assays results will be released by the end of February and metallurgical test by the end of March.
Results from the first phase of drilling on the Trinidad South gold target returned 761 ppb Au over 5 m in hole LG-09; 312 ppb Au over 4.45 m in hole LG-15, 287 ppb Au over 11.13 m in hole LG-16; 470 ppb Au over 6.25 m in hole LG-17, including 1.92 g/t Au over 1 m, and 1.33 g/t Au over 1.52 m in hole LG-22. This first phase of drilling allowed to define sectors with higher exploration potential within the 2.5 km x 1.3 km gold-in-soil anomaly. Next phase of drilling that is also planned to commence in March will focus on these new sectors within the gold target.
Marc L’Heureux, Vice-President Exploration of Everton Resources acts as the Qualified Person (re.: NI 43-101) for the Bayaguana joint venture.
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
Dwane Brosseau
Manager of Investor Relations
[email protected]
Tel: 604 662 4955 Fax: 604 662 4988
or
Andre Audet
Chairman & CEO
Tel: 613 769 1248 Fax: 613 241 6005
[email protected]
www.evertonresources.com
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