Sphere Resources Stakes 8 Claims in Red Lake, Ontario Near Gold Canyon's Springpole Gold Project
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/06/12 -- Sphere Resources Inc. ("the Company"), listed on the NEX Board of the TSX Venture Exchange (TSX VENTURE: SPH.H), is pleased to make the following announcement:
The Company has staked 8 claims, referred to as the "Brownstone Lake property", encompassing 1,920 hectares in the townships of Brownstone Lake and Casummit Lake in Ontario.
The Brownstone Lake property is located 200 m north of the old Kostynuk Brothers Gold Mine which, from 1963 to 1966, reportedly produced 1,126 ounces of gold at an average grade of 1.95 oz/ton. The property is also 250 m north of a gold-bearing deposit discovered by Golden Terrace Resources in 1986.
The Argosy Gold Mine which operated from 1934 to 1952 and reportedly produced 102,000 ounces of gold at an average grade of 0.37 oz/ton is 2.5 km south of the Brownstone Lake property.
Gold Canyon Resources recently announced the discovery of a major gold-bearing deposit at its Springpole Lake property which is about 10 km south of the Brownstone Lake property.
Malcolm Stevens, executive chairman and president of the Company, commented, "We are very pleased to be involved with this new gold project in Red Lake where there has been past gold discoveries and Gold Canyon's recent much larger discovery on its Springpole gold project. The Company looks forward to exploring the Brownstone Lake property in 2012".
About Sphere Resources Inc.
Sphere Resources Inc. is focused on identifying and appropriating exploration targets and other high quality assets in major global mining camps with a particular emphasis on precious metals. It is currently involved in exploring for gold mineralization in the Red Lake District of Ontario and in Nevada, USA on the Carlin Trend.
On behalf of Sphere Resources Inc.
Malcolm L Stevens, Executive Chairman and President
Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in mineral exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Sphere Resources Inc.
Malcolm L Stevens
+16479868940
+61396023554 (FAX)
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Datum: 06.01.2012 - 15:43 Uhr
Sprache: Deutsch
News-ID 101749
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contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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"Sphere Resources Stakes 8 Claims in Red Lake, Ontario Near Gold Canyon's Springpole Gold Project"
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