|Dominican Republic Properties
Cuance, Los Hojanchos Concessions
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Cuance, Los Hojanchos
In August 2003, Everton entered into an option agreement with GlobeStar Mining to earn up to 70% in three gold and base metals concessions covering 70.4 km2, namely Cuance, Los Hojanchos and Loma de Payabo concessions. The first 50% interest can be earned by incurring exploration expenditures of US$1,170,000 over a three-year period. All of the concessions, known as the Everton Concession Group, are located in the Central Cordillera of the Dominican Republic within the Maimon and Los Ranchos Formations. Both are well established hosts for base and precious metal mineralization.
Most of the field work conducted on the Cuance concession is related to the Las Tres Bocas target (see the Loma el Mate section), where mapping, soil sampling, ground geophysics and drilling were carried out in 2005. Exploration expenditures on Los Hojanchos consisted mainly of mapping and stream sediment sampling in the southern part of the concession where some copper anomalies where outlined. Reconnaissance mapping and sampling conducted in 2005 on the Loma de Payabo concession did not return any significant value. This concession was abandoned.
2006’s program will consist mainly of follow-up drilling on the Las Tres Bocas target on the Cuance concession and some follow-up mapping and sampling of the copper targets on Los Hojanchos.
Please review our press releases for updates.
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