Globestar Mining Corporation

Published : December 04th, 2007

and Everton Trench up to 22m grading 1.07 g/t Gold at Cuance, Dominican Republic; D

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Coal Harbor Communications

 

 

GlobeStar Mining and Everton Trench up to 22m grading 1.07 g/t Gold at Cuance, Dominican Republic; Drilling has Commenced

December 4, 2007

Everton Resources Inc. and project operator GlobeStar Mining Corp. have started a six-hole (1,150-metre) diamond drill program on the Cuance concession located in the central part of the Dominican Republic. The Cuance drill target is located 12 kilometres east of GlobeStar's Cerro de Maimon copper/gold development project and eight kilometres south of Barrick/Goldcorp's Pueblo Viejo mine.

The Cuance drill program follows the completion of regional soil geochemistry, mapping and trenching over an area considered to be part of the Maimon formation, host rocks to the Cerro de Maimon project. Two trenches, T1 and T2, totaling 182 metres, have been completed over an area of coincident cadmium, barium, gold and copper geochemical anomalies. Trench T1 cut strong argilic-silica alteration and intersected 1.07 grams per tonne Au over 22 metres, including 2.01 g/t Au over nine m, which has been interpreted as a sulphide gossan. Trench T2 cut quartz, sulphide and oxide veinlets including 0.82 g/t Au over 12 m, which may represent stringer mineralization.

Everton is fully financing exploration on the Cuance and adjacent Los Hojanchos concessions and has already spent $1-million (U.S.) of a committed $1.17-million (U.S.) earn-in agreement. After the completion of this drill program, Everton will have earned a 50-per-cent interest in the Cuance and Los Hojanchos concessions. Everton can earn an additional 20 per cent by financing a feasibility study to bring the project into production.

Dale Paruk

Coal Harbor Communications

604-662-4505

Toll-free 1-877-642-6200

info@coal-harbor.com

 

 

 

Globestar Mining Corporation

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CODE : GMI.TO
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Globestar Mining is a nickel and gold producing company based in Canada.

Globestar Mining produces nickel, gold, cobalt, copper and silver in Dominican Republic, develops copper, gold, lead, silver and zinc in Dominican Republic, and holds various exploration projects in Canada, in Dominican Republic and in Greenland.

Its main assets in production are CUMPIE HILL, BAYAGUANA CONCESSIONS, DOÑA LORETTA, DOÑA AMANDA and CERRO KIOSKO in Dominican Republic, its main asset in development is CERRO DE MAIMON in Dominican Republic and its main exploration properties are MOBLAN, WEMINDJI, POSTE LEMOYNE, GUERCHEVILLE, INMONT and LAC SHEEN in Canada, CERCADILLO, LA LEONORA RIVER AREA, CUANCE / LOS HOJANCHOS, MAIMÓN CONCESSION and COROZAL in Dominican Republic and CITRONEN FJORD in Greenland.

Globestar Mining is listed in Canada. Its market capitalisation is CA$ 173.7 millions as of today (US$ 175.0 millions, € 131.8 millions).

Its stock quote reached its highest recent level on December 31, 2007 at CA$ 2.54, and its lowest recent point on December 24, 2008 at CA$ 0.29.

Globestar Mining has 105 924 000 shares outstanding.

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In the News and Medias of Globestar Mining Corporation
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Project news of Globestar Mining Corporation
9/17/2009(Moblan)GlobeStar's Lithium Project
5/29/2009(Cerro De Maimon) Provides Update on Exploration
1/14/2009(Cerro De Maimon)Declares Commercial Production
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12/11/2007(Loma De Payabo)Update On Dominican Republic Nickel Exploration
11/29/2007(Cumpie Hill)New Mineral Resource Estimate
11/14/2007(Cerro De Maimon) Announces That Mining Construction has been Restored
10/17/2007(Cumpie Hill) Drills 14 Metres Grading 1.8% Nickel at Cumpie Hill, Domini...
9/13/2007(Cumpie Hill)drills 27.4 m of 1.78% Ni at Cumpie Hill
8/22/2007(Cumpie Hill)Reports 23 Nickel Exploration Holes Including 39
8/16/2007(Cerro De Maimon)CERRO DE MAIM'N PROJECT
5/3/2007(Cerro De Maimon)Cerro de Maimon Development Update: Pre-production Drill Pro...
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12/1/2010Announces Extension of Offer by Perilya
4/5/2010Conference Call for Investors
3/11/2010Reports Increased Cash Balances at December 31, 2009 and Pro...
5/26/2009annual general and special meeting of shareholders on Thursd...
3/19/2008Update on Nickel Exploration Program in Dominican Republic
12/4/2007and Everton Trench up to 22m grading 1.07 g/t Gold at Cuance...
11/1/2007 Construction Delayed by Tropical Storm Noel
8/20/2007Cash Position and No Exposure To Commercial Paper
8/9/2007 Closes US$45 Million Debt Facility For Cerro De Maimon Proj...
6/12/200711 Holes Including 16.5 Metres Grading 1.66% Nickel
5/31/2007Announces Closing Of $31.8 Million Financing
5/10/2007New Director Appointed
5/8/2007Adopts Shareholder Rights Plan
3/21/2007Extends Surface Soil Anomalies to over 1.5 km on the Cuance ...
3/23/2007200+ Hole Diamond Drill Program Underway on the Company's Ni...
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TORONTO (GMI.TO)
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