North Springs Resources Corp.: Aggressive Exploration Program Proposed for North Springs Gold Property in Nevada
(firmenpresse) - LAS VEGAS, NEVADA -- (Marketwire) -- 12/28/11 -- North Springs Resources Corporation (OTCBB: NSRS)(PINKSHEETS: NSRS) (the "Company" or "North Springs") is pleased to outline the proposed exploration work program for the North Springs Gold Property located in prestigious Mineral Ridge Mining District of Nevada. The recommended $500,000 work program will focus on several untested gold targets that include disseminated mineralization, high-grade shear zones, and feeder veins similar to those that have been open-pit mined by several companies at other Mineral Ridge gold deposits in the area.
"We have well defined drill targets based on already completed field work providing excellent potential for the discovery of a significant gold deposit at the North Spring Gold Property. The proposed drill targets include high-grade free-visible gold mineralization exposed at surface which appears to be a stacked series of mineralized shear zones that could provide an attractive open-pit target," stated Harry Lappa, President of North Springs Resources. "We will also test several locations with gold bearing veins exposed in old workings. The Company will continue to evaluate this work program, as well as review other potential mining opportunities prior to finalizing our exploration plans in the next few days."
The proposed detailed work program for the North Springs Gold Property includes;
- North Springs is working to permit an initial 10-hole reverse circulation drilling program to test known gold mineralization on the property.
- Additional detailed mapping and geochemical sampling of the probable mineral targets to better define surface extent and orientation of the gold anomalies.
- Gridline soil geochemical sampling in the Roadrunner Target area and in that portion of the Coyote Summit Target which is on pediment (shallow bedrock).
- Gridline bio-vegetation sampling in that portion of the Coyote Summit Target area which extends southwesterly under alluvial (transported) soil cover.
- Limited magnetic and possible Induced Polarization (IP) and CSAMT geophysical surveys or profiles over the primary defined target areas to establish three-dimensional extent of sulfide mineralization.
- Explore the lands adjacent to the North Springs Gold Property Area and potentially acquire available new claims.
- Evaluate all data compiled and prepare a new Technical Report for the North Springs Gold Property.
Management Review of Property:
The North Springs Gold Property has the potential to host lenticular, low-angle, disseminated gold and high-grade vein systems similar to those presently being mined in the nearby Mineral Ridge Mine of Scorpio Gold and Golden Phoenix, Inc. Based on the present level of investigation and sampling, the primary target areas worthy of additional exploration are the "Roadrunner" and "Coyote Summit" mineral targets, as defined by historical workings and the present mapping and sampling efforts. A number of possible additional "feeder-vein" structures have also been identified on the project lands that have undergone limited sampling and also warrant follow-up.
About North Springs Resources Corp.
North Springs Resources Corp. is focused on the evaluation, acquisition, exploration, and development of mineral resource properties. Currently, we are in the evaluation and acquisition phase of operations. The Company is led by a skilled and experienced management team and independent consulting geologists with many years of experience. North Springs is committed to creating value for its shareholders by advancing its current holdings and by acquiring new properties with significant potential.
For additional information, please visit .
Harry Lappa, President
THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS", AS THAT TERM IS DEFINED IN SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. STATEMENTS IN THIS NEWS RELEASE, WHICH ARE NOT PURELY HISTORICAL, ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS "ESTIMATE", "ANTICIPATE", "BELIEVE", "PLAN" OR "EXPECT" OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH NATURAL RESOURCE EXPLORATION AND DEVELOPMENT AND NEEDS FOR FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY'S MOST RECENT ANNUAL REPORT ON FORM 10-K AND ON FORM 10-Q AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY'S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY'S DEVELOPMENT EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY'S PERIODIC REPORTS FILED FROM TIME-TO-TIME WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION.
THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. FINRA, THE SEC AND THE OTCBB NEITHER APPROVES NOR DISAPPROVES THE CONTENTS OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
Contacts:
LiveCall Investor Relations
for North Springs Resources Corp.
Gerry Belanger
(201) 984-5646
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Datum: 28.12.2011 - 21:03 Uhr
Sprache: Deutsch
News-ID 100100
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LAS VEGAS, NEVADA
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Mining & Metals
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