Source Gold Corp. (SRGL) to Acquire New Gold Property
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 03/27/12 -- Source Gold Corp. (OTCBB: SRGL) ("Source Gold" or "the Company") is pleased to announce it is in the final stages of acquiring a new mineral property in northern British Columbia, at the Yukon Territories border.
Source Gold anticipates closing on the property later this week. The claims have a geology that has been compared to the prolific Carlin trend in Nevada. The property was explored in the 1980's when the crew focused on looking for Zinc, Lead and Silver deposits. The work was not completed, but reports acquired by the Company note that further study is merited. Although gold was not the target of the earlier inquiry, there have been many gold strikes of varying degrees in the general vicinity in part due to the Carlin type geology of the area. The Carlin Trend in northern Nevada has produced more gold than any other mining district in the United States - estimated at over 50,000,000 troy ounces.
"We're primarily interested in the property because it fits in with our philosophy of acquiring mineral rights to properties in areas of geological promise and those that have been past producers. This one definitely shows geological promise - there are several discoveries in the area, and as a consequence the area is being staked quite heavily," stated Lauren Notar, CEO of Source Gold.
Northern BC and the Yukon have long been a source of exploration potential. The world's largest gold producer Barrick gold has Eskay Creek in the Northern BC region which produced over 320,000 ounces of gold; Placer Dome has McDame Creek - where the largest gold nugget in British Columbia's history was found, an astounding 72 ounces; and Copper Creek Gold's Bonsai claims also reside in Northern BC.
Source Gold intends to release more details on the location and the terms of the acquisition once the acquisition is closed.
ADDITIONAL INFORMATION
To learn more about the Vulture Mine project, the Southern Beardmore Area, the KRK West Project, the Company, and regular news updates, visit Source Gold Corp.'s official website:
About Source Gold Corp.
Source Gold Corp. is a publicly traded junior mineral exploration company trading under the symbol SRGL.OB. The Company's corporate philosophy is to build shareholder value through the exploration and development of high quality mining and exploration projects in Canada and the USA, concentrating on gold in the prolific Southern Beardmore Gold Camp in North Western Ontario, and expanding using advanced methods of exploration on the once prolific silver and gold producer, the Vulture Mine Site, in Wickenburg, Arizona.
ON BEHALF OF THE BOARD OF DIRECTORS,
Source Gold Corp.
Lauren Notar, CEO
Legal Notice Regarding Forward-Looking Statements
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning gold or other mineral reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present if and when a project is actually developed.
Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of gold or mineral deposits, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of gold or minerals are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks for the Company can be found in filings on Edgar of other junior mineral exploration companies with the US Securities and Exchange Commission. This announcement may also contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.
Contacts:
Capitol Financial Media
Investor Relations
1.702.997.2429
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Datum: 27.03.2012 - 12:00 Uhr
Sprache: Deutsch
News-ID 128767
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TORONTO, ONTARIO
Kategorie:
Mining & Metals
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