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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (2217)	8/22/2013 9:12:37 AM
From: Goose94	Read Replies (1) \| Respond to of 202625

Spanish Mountain Gold (SPA-V) starts drill program at Spanish Aug 22, 2013 - News Release Spanish Mountain Gold Ltd. has commenced a reverse circulation drilling program at the company's flagship Spanish Mountain project in central British Columbia, Canada. The RC drilling programme will be within an area (the "test block") of the Main Zone of gold mineralization on the Project. The Company has planned the current drilling programme to ascertain the potential for grade improvement, if any, from data collected by RC drilling compared to data from the existing diamond drill holes ("DDH") in the test block. The current resource estimate for the Main Zone was prepared using the data from 670 DDH and is set out in the NI 43-101 technical report (the "Resource Estimate Report") entitled "Updated Mineral Resource Estimate on the Spanish Mountain Gold Deposit" dated August 31, 2012, which was prepared by G.H. Giroux and A. Koffyberg, both independent qualified persons within the meaning of NI 43-101. As set out in the Resource Estimate Report, using a gold cut-off grade of 0.2 g/t, the resource estimate is as follows: Tonnes Au, g/tAg, g/tOunces AuOunces Ag Measured 29,360,000 0.60 0.67 560,000 630,000 Indicated 186,870,000 0.44 0.69 2,620,0004,150,000 M+I 216,220,000 0.46 0.68 3,180,0004,730,000 Inferred 316,740,000 0.36 0.65 3,650,0006,620,000 The RC drilling programme will be in two phases: The current phase of approximately 10,000 metres of drilling will be confined to the test block area of the Main Zone that is classified as being within an Indicated category of gold mineralization. Drill holes will be spaced to ensure that data collected from these holes will fall also within an Indicated category using only RC data. A second phase is expected to immediately follow to expand beyond the area of the test block and will conform as closely as possible to the initial phases of potential pit development proposed in the NI 43-101 technical report ("PEA") entitled "Technical Report and Preliminary Economic Assessment of the Spanish Mountain Gold Project, Likely, BC" with an effective date of December 18, 2012. RC drilling was first completed on the Project in 1984 followed by several subsequent RC programmes together with extensive diamond drilling. The Company has identified a difference in gold grades in assay results from RC and DDH drilling and disclosed this in news releases dated March 7, 2013 and April 10, 2013. Data from RC holes to date represent a small portion of all data from drilling and consequently, data from these original RC holes were not included in the current resource estimate set out in the Resource Estimate Report. We seek Safe Harbor.