Globestar believes Trinidad South represents a large hydrothermal system similar in size to that which hosts
In September, 10 trenches cut into saprolite at Trinidad returned between 150 and 932 parts per billion gold over intervals ranging from 1 to 33 metres. The trenches targeted strong induced-polarization (IP) conductors.
Meanwhile, further work, including drilling, is planned for 2004 on the Dona Loretta target, where hole CC-07 cut 2.03% copper and 0.3 grams gold over 24 metres, and Trinidad North, where copper- and gold-in-soil anomalies overlie IP conductors.
The 23-km-long Bayaguana project also contains the Cerro Kiosko deposit, which is home to resources totalling 4.9 million tonnes grading 2 grams gold, 5.1 grams silver per tonne and 1% copper, and the Dona Amanda deposit, which has 45.5 million tonnes of 0.45 % copper and 0.22 grams gold.
The Bayaguana properties are situated along an 18-km-long strike length of the Los Ranchos formation, the same geological formation that hosts Pueblo Viejo.
Everton can also earn a half-interest in Globestar’s Cuance concessions by spending US$1.15 million over three years; it can boost its stake to 70% by advancing the project to the feasibility stage. These properties are near Globestar’s Cerro de Maimon copper-gold project (T.N.M., Oct. 31-Nov. 6/03), and are also in the Los Ranchos formation.
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