05/06/2004
Everton and Globestar: Gold and Copper Exploration Update In The Dominican Republic
Everton Resources Inc. (TSXV:EVR) is pleased to announce an exploration update on the two joint venture projects with its partner GlobeStar Mining Corp. (TSXV:GMI) in the Dominican Republic. Both Bayaguana and Los Hojanchos properties will receive extensive drilling this year. A drill rig is currently due to commence work at the end of May and has been contracted to work on the companies’ projects for most of the year.
A comprehensive Induced Polarization (“IP”) and ground magnetic geophysical program is nearing completion with 87 kilometres of IP and 92 kilometres of magnetics completed. The geophysical programs are covering geochemical and mapping targets in all project areas, as well as detailed follow-up of previously flown airborne geophysical surveys, covering numerous targets including Dona Amanda and Dona Loretta.
Bayaguana Copper/Gold Project ((EVR is earning 50% by funding US$2 million)
87 kilometres of IP and 92 kilometres of magnetics have been completed. The work has focussed a on large scale open pittable copper/gold targets, and potential extensions of the 45 million tonne Dona Amanda deposits and the Dona Loretta target where previously announced drilling recorded 2.0% Copper over 24 metres. These two occurrences are 5 kilometres apart. The program will test if they are connected or there are significant extensions either westwards or eastwards. Dona Amanda is a secondary enriched copper blanket while Dona Loretta is a copper bearing brecciated structure which is open along strike.
Internally generated studies have concluded that the target may have economic potential based on first pass economic analysis and metallurgical testing by Lakefield Research of Ontario Canada. The drilling program will focus on extending the mineralization in all directions to increase tonnage.
At Dona Loretta, the IP program has identified favourable responses suggesting similar structures to the Dona Loretta mineralization, co-incident with anomalous copper geochemical signatures. The targets will be drilled at the end of May.
Los Hojanchos Gold Project (Everton is earning 50% by funding US1.15 million of exploration, and a further 20% by funding a bankable feasibility study)
The Los Hojanchos mineralization consists of massive sulphide bands sub parallel to the underlying formation, and has never been drilled. Recent surface samples have included 1.6 g/t and 1.4 g/t of gold. The massive sulphide bands are parallel to the mineralization in the Pueblo Viejo gold mine (17 million ounce gold resource; Placer 2004 Exploration Brochure), which is 2 kilometres from the boundary of the Cuance joint venture, in the same Los Ranchos formation
Marc L’Heureux is the qualified person for the Bayaguana and Los Hojanchos exploration programs.
Everton Resources is pleased to announce the appointment of Marc Carbonneau as its Chief Financial Officer. Mr Carbonneau brings many years of experience as a financial manager with both small and large corporations. Everton would like to thank Doug Perkins for his contribution to the corporation. Mr Perkins will continue to assist the company on an advisory capacity.
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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
or
André Audet
Chairman and CEO
[email protected]
Tel: 613 769 1248 Fax: 613 241 6005
www.evertonresources.com
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