North Springs Resources Completes Compilation of Historic Exploration Data at Imperial Property-Drill Program to Test Possibl...
28 February 2012 - 1:15AM
Marketwired
North Springs Resources Corp. (OTCBB:NSRS)(PINKSHEETS:NSRS) (the
"Company" or "North Springs") is pleased to announce that it has
completed the digitization of all historic underground sampling and
surface drilling data from its 100% owned Imperial Gold Silver
Property, located about 150 miles northwest of Las Vegas, Nevada
(the "Imperial Property"). The complete digital database contains
the results of over 250 underground samples and 79 surface drill
holes, along with data from the Company's own mapping and
geochemical sampling program.
"We believe that this is the first time that all of the historic
Imperial Property information has been put into one comprehensive
digital database," stated Harry Lappa, President of North Springs.
"Analysis of this proprietary database will allow us to understand
this property unlike any other previous operator, and as a result,
design a highly focused property-wide drill program. I expect to
announce more details about the proposed drill program
shortly."
Gold and silver results from the Company's sampling of the Upper
and Lower Adits at the old Imperial Mine confirmed the reliability
of the historic underground sampling. The Lower Adit is 2,620 feet
long and the Upper Adit 950 feet long. Both adits were sampled
throughout. Historic vein sampling results over 3 to six foot
widths range from 0.033 oz./ton gold and 0.055 oz./ton silver to
7.636 oz./ton gold and 0.23 oz./ton silver. Although much of the
mineralized vein material in proximity to the adits was removed by
past mining, extensions of the known veins at depth and potential
undiscovered parallel vein structures will be tested with an
upcoming drilling program.
A total of 15 historic reverse circulation holes have been
drilled into the Imperial Property vein system. All were drilled
from north to south across the west-northwest trending Imperial
fault system. Several holes hit workings, but others intersect
mineralized veins. Results range from a 20 foot intersection
averaging 0.037 oz./ton gold and 0.14 oz./ton silver and a 10 foot
intersection averaging 0.502 oz./ton gold and 0.54 oz./ton silver.
Although the historic drilling appears to have been conducted to
industry standards, results have not yet been confirmed by analysis
of drill cuttings or re-drilling and should be considered
preliminary until such time.
Over 20 historic shallow air track and reverse circulation drill
holes were completed in the "Resource Target", an open pit, heap
leach gold/silver target. Results range from no significant gold to
a 35 foot intersection averaging 0.072 oz./ton gold and 0.08
oz./ton silver. These results have also not yet been confirmed by
analysis of drill cuttings or re-drilling and should be considered
preliminary until such time.
Surface geochemical sampling and mapping is continuing at the
Imperial Property to further define drilling targets. 3D modeling
of mineralization found in underground sampling and drilling is in
progress and a drilling plan is expected to be completed shortly.
Environmental permitting of a multi-target reverse-circulation
drill program will follow.
Further updates regarding the Imperial Gold Silver Property and
other North Springs projects will be made as additional information
becomes available.
About North Springs Resources Corp.
North Springs Resources Corp. is focused on the evaluation,
acquisition, exploration, and development of mineral resource
properties. 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
www.northspringsresources.com.
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, Investor Contact (201)
984-5646info@northspringsresources.com
www.northspringsresources.com
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