Right off the wire...Is this good?...Not familiar with ppb...Everton releases Bayaguana trenching results
2003-09-11 13:12 ET - News Release
Also News Release (C-GMI) Globestar Mining Corp
Mr. Dwane Brosseau of Everton reports
EVERTON RESOURCES INC.: TRENCHING CONFIRMS GOLD MINERALIZATION AT BAYAGUANA PROJECT; WELCOMES NEW BOARD MEMBER
Everton Resources has released partial results from a trenching program completed on its Bayaguana project in the Dominican Republic. The results confirm the presence of significant gold mineralization below the Trinidad targets that were identified by rock and soil samples within an area of 2.5 by 1.2 kilometres. Most importantly the Trinidad target area exhibits similar geology and surface characteristics to the Pueblo Viejo gold deposit (16 million ounces resource) located approximately 75 kilometres to the West of Bayaguana. The target is the largest and most significant hydrothermal sulphidation system in the Dominican Republic, outside Pueblo Viejo. Everton Resources has an option agreement with Globestar Mining to earn in 50 per cent of the Bayaguana group of properties in the Dominican Republic with expenditures of $1.5-million (U.S.) over two years.
"These results confirm our expectation for wide mineralization at depth and we plan to drill test these targets within the next month," says Marc L'Heureux, manager of exploration and qualified person for Everton.
The program consisted of 10 trenches ranging in length from 58 to 145 metres long and two to three metres in depth in oxidized rock (saprolite). A total of 970 continuous samples were collected along the walls of each trench at one-metre intervals just above the floor. Only 545 samples were assayed to date, which represents the sections with the most intense visual alteration. Since these results are quite positive, the remaining samples have been sent to the lab for analysis.
Trench
No./ Interval Pending
length From To Length Grade sample
(m) (m) (m) (m) (Au ppb)
1/100 4 30 26 232 0
2/100 35 43 8 273 92
3/145 16 30 14 294 101
84 102 18 157
124 131 7 142 -
4/58 44 45 1 932 43
5/107 1 32 31 148 0
63 96 33 216 -
6/62 - - - - 45
7/107 13 31 18 193 62
51 64 13 193 -
8/139 26 45 19 301 89
34 37 3 247 -
9/59 48 55 7 262 41
10/93 - - - - 72
Note: Samples were prepared at the Falcondo Laboratory, in the Dominican Republic and shipped to ALS Chemex in Vancouver, B.C., for analyzing using 30-gram fire assay method with AA finish.
Everton Resources has elected Don Halliday to its board of directors. Mr. Halliday joined Nevsun in August of 1995 as manager, investor relations. Prior to joining Nevsun, he spent six years as manager, investor relations, for Bema Gold, and is currently a director and vice-president with Sunridge Gold Corp. He is responsible for communication with all shareholders, brokers, analysts, portfolio managers, and the media and financing. His track record of success will add tremendous insight to the management and media relations of Everton.
Everton is setting aside 400,000 incentive stock options priced at 25 cents for officers, directors, employees and consultants. |
