Everton, Linear cut massive sulphides in DR (June 12, 2006)

A 10-hole drilling program at the Loma el Mate property in the Dominican Republic has returned several significant intersections of zinc-copper mineralization.

Equal partners Everton Resources (EVR-V, EVRRF-O) and Linear Gold (LRR-T, LGCFF-O) announced the results from the program, which finished actual drilling in late April. The campaign followed up on a 3-hole drill program last November, where one hole intersected a narrow massive sulphide zone on a prospect called Tres Bocas.

Two of the holes in the follow-up program intersected massive sulphide mineralization. Hole TBM-07, collared 100 metres southeast of the hole that intersected mineralization last year, cut a 10.6-metre interval grading 9.41% zinc, 2.03% copper, 3 grams gold and 105 grams silver per tonne. That intersection was part of an 11-metre zone of massive pyrite, chalcopyrite and sphalerite overlying altered and pyritic quartz-sericite schist. The geology was similar to that of the earlier drill hole.

A second hole, TBM-12, cut a 4.6-metre interval that graded 8.05% zinc, 0.75% copper, 1.4 grams gold and 120 grams silver per tonne. Grades within the interval were variable, with a 1.3-metre zone in the middle that graded over 20% zinc.

Other drill holes intersected minor zones of mineralization, but none the partners found worthy of reporting. The other drilling did provide some useful stratigraphic and structural information. Further mapping and ground geophysics are planned for the prospect.

Everton also concluded an agreement with GlobeStar Mining (GMI-V) that trades GlobeStar’s La Mireya property adjoining Everton’s 335-sq.-km land package in the eastern Dominican Republic for two of Everton’s nickel-laterite properties in the country, Corozal and Cercadillo.

La Mireya is a 118-sq.-km concession about 90 km east of the Pueblo Viejo mine, now controlled by Barrick Gold (ABX-T, ABX-N) and Goldcorp (G-T, GG-N). It covers rocks of the Los Ranchos formation, the same rock unit that hosts Pueblo Viejo.

Corozal and Cercadillo lie southeast of the Falcondo laterite nickel mine and smelter operated by Falconbridge (FAL.LV-T, FAL-N) and GlobeStar has now consolidated most of the favourable rocks along strike from Falcondo.

GlobeStar has an option on four other nickel concessions in the area, all held by Energold Drilling (EGD-V, EGDFF-O).

GlobeStar’s drilling at Cumpie Hill, on the C1 concession immediately east of Falcondo, intersected nickel-bearing laterite in 22 of 25 holes, including a number of long intersections grading 1.7% nickel or better.

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