EVERTON EARNS ITS 50% INTEREST FROM GLOBESTAR DOMINICAN REPUBLIC PROJECT
Everton Resources Inc. (TSX-V: EVR; Frankfurt: ERV) is pleased to report that it earned its 50% interest from GlobeStar Mining Corp. (TSX: GMI) in the Cuance - Los Hojanchos polymetallic projects located in the central part of the Dominican Republic.
Commenting on the news, “This is a significant corporate development for the company. With this development, we now take over control and management of the joint project and aggressively advance further exploration on a property that has shown great potential, and is beside significant deposits being developed by some major industry players like Barrick/Goldcorp and GlobeStar”, said President, Andre Audet.
The adjoining Cuance and Los Hojanchos projects consolidate a block of land of 43.4 km2 that includes a promising polymetallic exploration potential. See compilation map and more details on www.evertonresources.com, the projects are centered within Cretaceous volcano-sedimentary sequences that includes the Los Ranchos Formation which is host of the Pueblo Viejo gold-silver-zinc deposit being developed by Barrick-Goldcorp and the Maimon Formation hosts the Cerro de Maimon copper-silver-gold mine currently under exploitation by GlobeStar.
During the earn-in period by Everton, the partners have outlined significant areas of precious and base metal mineralization clustered in at least two mineralized corridors.
The northernmost of these corridors extends for almost 7 kilometers from the extreme SE on the Los Hojanchos concession to the prospect of Las Tres Bocas on the Loma el Mate concession (50% Everton - 50% Linear Gold) in the NW, where Everton and Linear Gold Corp. intercepted up to 10.58 meters averaging 2.96 g/t gold, 104.91 g/t silver, 2.03% copper and 9.41% zinc (press release dated May 17, 2006). A 2-km long gold-silver-copper-zinc soil anomaly associated with a zone of extensive mineralized outcrops was delineated by Everton and GlobeStar. This zone has never been drill-tested. Values up to 7.9% copper, 11.3% zinc, 21 g/t silver, and 1.1 g/t gold were obtained from grab rock samples in this corridor. The Pueblo Viejo deposit is located 10 kilometers further to the NW along this trend.
The southernmost corridor, parallel to the northern one, appears to center on the area of La Lambedera, in the central part of the Cuance concession and extends in surface showings for approximately one kilometer in a NW-SE direction. The Cerro de Maimon volcanogenic massive sulphide deposit is located approximately 11 kilometers to the NW along this trend.
Strong anomalies in soils and rocks were outlined in the course of a systematic survey conducted in this sector between 2005 and 2007 by Everton and GlobeStar. The mineralization appears to be associated with advanced argillic alteration surrounding a core of silicification. Rock grab samples in the La Lambedera sector run values up to 4.07% copper, 22 g/t silver, and 2.12 g/t gold. Two trenches excavated in the core of the soils anomalies exposed mineralized intervals of 22 meters averaging 1.07 g/t gold, including 9 meters averaging 2.01 g/t gold in trench #1. Trench #2 returned an interval of 12 meters averaging 0.82 g/t gold.
The next exploration program on Cuance-Los Hojanchos will include an induced polarization (IP) survey on the 2-km long soil anomaly in the northernmost corridor followed by diamond drilling. Follow-up drilling is also planned on Cuance.
This press release was prepared by Marc L’Heureux, P. Geo. and VP Exploration of Everton, who acts as Everton’s Qualified Person as defined by NI 43-101.
Everton is actively exploring in the Dominican Republic adjacent to the US$2.7 billion Pueblo Viejo project, currently being developed by the world’s largest gold mining company, Barrick Gold Corporation (60%) (NYSE/TSX: ABX) in partnership with Goldcorp (40%) (“Goldcorp”) (NYSE: GG, TSX: G). Pueblo Viejo is estimated to contain 22.4 million ounces of gold, 455 million pounds of copper and 131.3 million ounces of silver. Everton also holds through its 100%-owned subsidiary Hays Lake Gold various options consolidated land package located in the Shoal Lake area, near Kenora, Ontario. The Shoal Lake Gold Project is comprised of two significant high grade gold deposits: Duport and Cedar Island on 81.3 km2. The Company is also exploring in the Opinaca region of James Bay, Quebec where the Company has amassed one of the largest land claims adjacent to Goldcorp’s Eleonore gold deposit, which currently hosts an estimated total mineral resource of 9.4 million ounces of gold.
For more information, please contact:
Andre Audet, Chairman & CEO
First Canadian Capital Corporation
Toll Free: 866-580-8891
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