Everton & GlobeStar Trench up to 22m Grading 1.07 g/t Au on the Cuance Concession, Dominican Republic - Drilling Has Commenced
Everton Resources Inc. ("Everton") (TSX-V: EVR, Frankfurt: ERV) and project operator GlobeStar Mining Corp. (TSX: GMI) are pleased to announce the start of a 6-hole (1,150m) diamond drill program on the Cuance concession located in the central part of the Dominican Republic. The Cuance drill target is located 12 kilometers east of GlobeStar's Cerro de Maimón copper/gold development project and 8 kilometers south of Barrick/Goldcorp's Pueblo Viejo mine.
The Cuance drill program follows the completion of regional soil geochemistry, mapping and trenching over an area considered to be part of the Maimón Formation; host rocks to the Cerro de Maimón project. Two trenches, T1 and T2 totaling 182 meters, have been completed over an area of coincident cadmium, barium, gold and copper geochemical anomalies. Trench T1 cut strong argilic-silica alteration and intersected 1.07 g/t Au over 22m, including 2.01 g/t Au over 9m, which has been interpreted as a sulphide gossan. Trench T2 cut quartz, sulphide and oxide veinlets including 0.82 g/t Au over 12m, which may represent stringer mineralization.
Everton is fully funding exploration on the Cuance and adjacent Los Hojanchos concessions and has already spent US$1 million of a committed US$1.17 million earn-in agreement. After the completion of this drill program, Everton will have earned a 50% interest in the Cuance and Los Hojanchos concessions. Everton can earn an additional 20% by funding a feasibility study to bring the project into production.
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 is well funded and actively exploring in the Opinaca region of James Bay, Quebec where Everton has amassed one of the largest land claims adjacent to Goldcorp's (NYSE: GG, TSX: G) Eleonore gold deposit where Goldcorp recently announced an initial gold resource of 2.8 million ounces. Everton is also actively exploring 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, at an estimated cost of $2.3 billion, the Pueblo Viejo deposit, that contains 18.1 million ounces of gold, 2.6 billion pounds of zinc, 358 million pounds of copper and 88 million ounces of silver.
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