11/23/2006
EVERTON AND GLOBESTAR TO COMMENCE MAJOR AIRBORNE GEOPHYSICAL SURVEY IN THE DOMINICAN REPUBLIC
Everton Resources (TSX-V: EVR) and GlobeStar Mining
Corp. (TSX-V: GMI) are pleased to announce that a major airborne geophysical
survey will commence on properties owned by the companies in the central Dominican
Republic.
Everton’s part of the survey will cover about 154 km2
and consist of approximately 1700 line kilometres of low level survey covering
the Maimón Formation, host of the Cerro de Maimón copper/gold
project and satellite deposits like Loma Pesada, and parts of the Los Ranchos
Formation, host of the Barrick/Goldcorp giant Pueblo Viejo gold deposit, all
located in the central part of the Dominican Republic. The survey will be done
at 100 metre spacing.
The Maimón Formation is host to at least 8 outcropping massive sulphide
bodies, and this survey is designed to test extensions at depth of these bodies,
plus seek-out new non-outcropping mineralization which may have been undetectable
by shallow detection methods used in the past. The Los Ranchos Formation is
host to large high sulphidation systems, and associated mineralization.
The survey will be carried out by FUGRO Airborne Surveys Corp. and will consist
of helicopter mounted Electromagnetic and Magnetic measurement equipment, with
accurate surveying capable of achieving positional accuracy of 2 meters in static
mode. FUGRO’s advanced team has already been on the ground, and the equipment
will arrive in early December, with a survey time of approximately 6 weeks,
depending on weather. The only previous EM survey was done in 1972, where the
penetration below surface was estimated to be approximately 80 metres in depth,
the technical limit of the equipment at that time. The new survey will penetrate
to an estimated 300 metres.
This press release was prepared under the supervision of Marc L’Heureux,
P.Geo., Everton’s Vice-President of Exploration, who
acts as the “Qualified Person” as described by NI 43-101.
Everton Resources is actively exploring in the Opinaca region
of James Bay, Quebec where Everton Resources has amassed one
of the largest land claims adjacent to the Eleonore gold discovery, and where
Goldcorp Inc. (NYSE:GG, TSX:G) is proposing to spend several
hundreds of millions of dollars developing its recent property acquisition.
Everton Resources is also actively drilling in the Dominican
Republic adjacent to where the world’s largest gold mining company, Barrick
Gold (NYSE/TSX:ABX), is partnering with Goldcorp to
develop the 15 million ounce Pueblo Viejo gold deposit, one of the world’s
largest undeveloped gold deposits, at an estimated cost of $1.4 billion.
For more information, please contact:
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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