GoldSpring Discovers Potential Bonanza Grade Ore at the Hartford Complex
Mon Jun 9, 1:00 PM
ca.news.finance.yahoo.com
GOLD HILL, Nev., June 9 /PRNewswire-FirstCall/ -- GoldSpring, Inc. (OTC Bulletin Board: GSPG.OB), the largest mineral rights land position in Nevada's Comstock Lode Mining District, reported today that drill hole #40 at the Hartford Complex, which is not included in the independent preliminary resource report being discussed on a conference call tomorrow, which has been rescheduled for 4:30 p.m. eastern time, encountered five feet of ore containing 1.927 ounces of gold per ton. This hole, due to the high-grade of mineralization, has the potential to have Bonanza levels of gold. This is the highest grade of ore the Company has identified since the commencement of the drilling program in December 2007. Hole #40 is located in a different zone than the drilling activity reported previously.
"We believe drill hole #40 suggests that the Hartford Complex, which we have always believed to be a potentially very strong resource for gold, could exceed the previous expectations set forth in the preliminary report which is being discussed on tomorrow's conference call (which does not address drill hole #40)," said Jim Golden, GoldSpring's Chief Operating Officer. "Drill hole #40 provides even stronger support for our conclusion that continued exploration in the vicinity of our on-going drilling program will result in a dramatic increase in the company's precious metals resource and substantially increase the value of our holdings."
To date, the Company has drilled 54 holes and has received third-party assay results for the first 42 of those drill holes. The Company expects to receive assay results for the balance of the 54 drill holes in June. The Hartford Complex represents less than five percent of the Company's total landholdings in the Comstock Lode.
The Company will hold a conference call tomorrow at 4:30 p.m. eastern time to discuss hole #40 and the preliminary findings of the 43-101 reserve report. Interested participants should dial 866-214-7077 when calling within the United States or 416-915-9608 when calling internationally along with pass code 8254829. There will be a playback available as well. To listen to the playback, please call 888-203-1112 when calling within the United States or 719-457-0820 when calling internationally. Please use pass code 8254829 for the replay. The call is also being webcast and can be access at GoldSpring's website at goldspring.us.
About GoldSpring, Inc.
GoldSpring, Inc. is a North American precious metals mining company, focused in Nevada, with extensive, contiguous property in the Comstock Lode District. Our Company was formed in mid-2003, and we acquired two properties in the Comstock Lode before the end of the year. We secured permits, built an infrastructure and brought the exploration project into test mining production within a year of its acquisition. The Company, in 2005, began consolidating the Comstock Lode by acquiring additional properties in the district, expanding our footprint and creating opportunities for exploration and mining. We are an emerging company, looking to build on our success through the acquisition of other mineral properties in the Comstock Lode District with reserves or exploration potential. The Company's objectives are to increase reserves through exploration, expand its footprint in the Comstock, resume mining, optimize its production, and maximize shareholder value.
The Private Securities Litigation Reform Act of 1995 provides a 'safe harbor' for forward-looking statements. Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by GoldSpring) contains statements that are 'forward-looking,' as defined in Section 21E of the Securities Exchange Act, such as statements relating to the future anticipated direction of the high technology and energy industries, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth, mining capability and potential contracts. Such forward-looking information involves important risks and uncertainties, which include the risk factors disclosed in our most recent filings with the U.S. Securities and Exchange Commission, that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of GoldSpring. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financial activities, domestic and global economic conditions, changes in federal or state tax laws and market competition factors. These and other factors, which could cause actual results to differ materially, are discussed in more detail in GoldSpring's filings with the Securities and Exchange Commission. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as 'anticipate,' 'believe,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'should,' 'will,' and 'would' or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
Contact information for GoldSpring, Inc.:
P.O. Box 1118
Virginia City, NV 89440
Tel 775.847.5272
Fax 775.847.4762
goldspring.us
Robert T. Faber, President and CEO
480.603.5151
775.847.5272
E-mail: rfaber@goldspring.us
or
Dan Schustack, CEOcast, Inc. for Goldspring, Inc. at (212) 732-4300
SOURCE GoldSpring, Inc. |
