GoldSpring Announces Reporting Date for Its Mineable Gold and Silver Reserves
Mon May 4, 9:30 AM
ca.news.finance.yahoo.com
The Company Highlights Additional Exploratory Drilling Results at its Hartford / Lucerne Deposit, Comstock District, Nevada
GOLD HILL, Nev., May 4 /PRNewswire-FirstCall/ -- GoldSpring, Inc. (OTC Bulletin Board: GSPG.OB) will announce its Mineable Gold and Silver Reserve inventory contained in its Scoping Report within ten business days via PRNewswire. The press release will also be available on GoldSpring's website at www.goldspring.us. The official report defines the Company's gold and silver reserves which were cataloged by its development drilling program at the Hartford / Lucerne Complex in the Comstock District of Nevada.
In anticipation of Mineable Reserve data, GoldSpring has announced today positive third-party assay results for 32 exploratory drill holes from the 182 holes drilled at the Hartford / Lucerne Complex, beginning in December 2007. Twenty-three of these drill holes are in the heart of the Hartford / Lucerne deposit and the assay results from these drill holes demonstrate the continuity of gold and silver within the mineralized material of this deposit.
Robert Faber, GoldSpring's President and CEO, stated, "Our team has worked diligently over the past 30 months to prepare for and model the positive third-party assay results that we received for now all 182 drill holes in our Hartford / Lucerne Complex exploratory drilling program. The upcoming Scoping Report will define the economic viability of our gold and silver deposit. The Scoping Report will also provide a comprehensive analysis of our Hartford / Lucerne deposit based on geological information and drill hole assays. This report fully conforms to the SEC's Industry Guideline 7 and it's obviously an important milestone for our Company. "
Table 1
New Drill Result Highlights, Hartford Deposit Comstock District Nevada
Significant intercepts calculated using 0.01 ounces per ton gold cut-off.
Hole ID From To Length Gold Gold Silver Silver
(feet) (feet) (feet) (ounces (grams (ounces per (grams
per ton) per ton) ton) per
ton)
L08-61 260' 295' 35' 0.077 2.628 0.31 10.58
410' 450' 40' 0.044 1.502 0.26 8.87
L08-63 115' 145' 30' 0.175 5.973 0.51 17.41
400' 430' 30' 0.042 1.433 0.98 33.45
500' 595' 95' 0.082 2.799 0.86 29.35
L08-65 75' 185' 110' 0.107 3.652 1.98 67.58
L08-66 0' 75' 75' 0.044 1.502 0.58 19.80
L08-67 10' 90' 80' 0.048 1.638 0.39 13.31
L08-68 345' 430' 85' 0.040 1.365 1.57 53.58
L08-70 0' 185' 185' 0.070 2.389 1.76 60.07
L08-71 65' 110' 45' 0.026 0.887 0.57 19.45
L08-73 190' 260' 70' 0.038 1.267 0.73 24.92
L08-74 190' 210' 20' 0.050 1.707 0.43 14.68
L08-75 50' 125' 75' 0.037 1.263 1.07 36.52
P09-01 0' 135' 135' 0.022 0.751 0.46 15.70
295' 485' 190' 0.077 2.628 0.22 7.51
P09-02 0' 110' 110' 0.021 0.717 0.51 17.41
P09-03 130' 155' 25' 0.042 1.433 0.64 21.84
805' 835' 30' 0.020 0.683 0.31 10.58
P09-04 5' 40' 35' 0.017 0.580 0.38 12.97
315' 400' 85' 0.011 0.375 0.06 2.05
455' 545' 90' 0.047 1.604 0.71 24.23
P09-05 25' 30' 5' 0.020 0.683 0.76 25.94
P09-06 0' 70' 70' 0.022 0.751 0.89 30.38
P09-07 165' 330' 165' 0.048 1.638 1.05 35.84
P09-08 595' 730' 135' 0.013 0.444 0.28 9.56
775' 930' 155' 0.045 1.536 0.73 24.92
P09-09 145' 210' 65' 0.032 1.092 0.45 15.36
260' 580' 320' 0.066 2.253 1.45 49.49
P09-10 90' 120' 30' 0.081 2.765 1.08 36.86
P09-11 (See
Note 1)
P09-12 100' 110' 10' 0.045 1.536 0.13 4.44
P09-13 0' 65' 65' 0.015 0.512 0.25 8.53
P09-14 0' 80' 80' 0.027 0.922 0.83 28.33
P09-15 620' 625' 5' 0.138 4.71 0.10 3.413
P09-16 40' 100' 60' 0.040 1.365 0.14 4.78
150' 195' 45' 0.016 0.546 0.31 10.58
P09-17 75' 110' 35' 0.032 1.092 0.27 9.22
195' 200' 5' 0.169 5.768 .026 8.87
P09-19 (See
Note 1)
P09-20 (See
Note 1)
P09-22 (See
Note 1)
P09-24 0' 25' 25' 0.031 1.058 0.65 22.18
110' 165' 55' 0.017 0.580 0.24 8.19
570' 590' 20' 0.159 5.427 0.62 21.16
Note 1: No significant assays.
About GoldSpring, Inc.
GoldSpring, Inc. is a North American precious metals mining company, focused in Nevada, with extensive, 6000 acre contiguous land holding in the Comstock Gold-Silver District of Nevada. The Company has defined an initial resource at the Hartford deposit and has acquired several of the key mining permits require to develop the project. The Company is currently engaged in an aggressive exploration program to define the extent of the Hartford Deposit, assess other key exploration targets on its large land package and push the project toward production. The high-grade nature of the bulk tonnage Hartford deposit and its favorable configuration has positioned the Company to become a new gold-silver producer in the future.
Cautionary Note to U.S. Investors: The United States Securities and Exchange Commission permits US mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We may use certain terms on this press release, such as "measured", "indicated", and "inferred" resources, which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. investors are urged to consider closely the disclosure in our Form 10-KSB which may be secured from us, or from the SEC's website at sec.gov
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
SOURCE GoldSpring, Inc. |
