SANTO DOMINGO, Dominican Republic Both Canadian Prime Minister Jean Chretien and the president of the Dominican Republic Hipolito Mejia attended the formal ceremony awarding the mining permit for the Cerro de Maimon copper-gold project of GLOBESTAR MINING of Toronto. The permit allows for mining the deposit subject to compliance with the environmental impact statement (EIS).
GlobeStar has retained PINCOCK ALLEN & HOLT of Denver, Colo., to carry out a feasibility study for its project. The Cerro de Maimon deposit is capped by a gold-silver-rich oxide gossan above a copper-rich massive sulphide body. The cap contains measured and indicated resources of 0.6 million tonnes at 2.6 g/t Au and 65 g/t Ag suitable for leaching. The sulphide material was described by the previous owner, FALCONBRIDGE, as containing 3.36 million t grading 3.93% Cu, 1.93% Zn, 47.3 g/t Ag, and 0.56 g/t Au. The deposit is less than 10 km from Falconbridge's Falcondo nickel mine and PLACER DOME's Viejo gold exploration project.
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