North Springs Resources Corp. (OTCBB:NSRS)(PINKSHEETS:NSRS) (the
"Company" or "North Springs") is pleased to announce that Norman
Cay Development, Inc. (OTCBB:NCDL)(PINKSHEETS:NCDL) ("Norman Cay"),
the parent company of North Springs partner Discovery Gold Ghana
Limited ("Discovery Gold"), has appointed Mr. Ralph Shearing to the
position of Geological Consultant. Mr. Shearing shall provide
corporate development and technical advice to Norman Cay regarding
exploration and development of the Edum Banso Gold Project ("Edum
Banso"), a high-potential gold exploration property in Ghana,
Africa.
Mr. Shearing is a professional geologist with extensive
experience throughout North America and internationally. Ralph is a
graduate of the University of British Columbia, earning a B. Sc.
Geology degree. Since graduating in 1981, he has been directly
involved in several world class exploration and development
projects and has gained hands-on experience in all aspects of
mineral exploration, including geophysics, geochemistry, geology,
and diamond core drilling, the latter as a senior partner of a
successful contract diamond drilling company. For over 25 years,
his active involvement with the management and directing of
publicly traded companies, combined with his practical mineral
exploration experience, has given him unique insight into the
industry and allowed him to develop a well-rounded business
approach for junior resource companies. In 1986, Mr. Shearing
founded and is currently CEO and President of Soho Resources Corp.,
a TSX Venture Exchange listed mineral exploration and development
company advancing the Tahuehueto Gold and Silver Project in Mexico
with a Net Present Value of $109.6 million (independent NI-43101
compliant Preliminary Economic Assessment Report - October
2010).
"The appointment of an experienced geologist to lead the
exploration and development efforts at Edum Banso is a significant
step forward for the project and our partnership with Discovery
Gold," said Harry Lappa, President of North Springs. "Mr. Shearing
is a proven leader and his extensive mining industry and public
company experience will be invaluable as the partners plan and
execute their exploration strategy in Ghana."
The Edum Banso Gold Project concession covers 20.60 km2 (5,100
acres) located approximately 35 km (21 miles) northwest of city of
Takoradi in the southeastern portion of Ghana's historic Ashanti
Gold Belt, which is estimated to contain over 100 Moz. of gold
within 60 miles of the property. The concession is situated less
than one mile from the border of the HBB Father Brown/Adoikrom open
pit gold deposits currently being mined by Golden Star Resources.
Golden Star expects to produce 180,000 oz. of gold and generate
over $280 million in gross revenue per year per from their HBB
Father Brown/Adoikrom operations. Numerous other gold mines are
also in operation in the area, including Iduapriem (16 miles -
AngloGold Ashanti - 185,000 oz./year - 4.9 million oz. total,
approx. $8.575 billion in gross mineral value), Obuasi (55 miles -
AngloGold Ashanti - 381,000 oz./year - 33.4 million oz. total,
approx. $58.45 billion in gross mineral value), Tarkwa/Damang (18
miles - Gold Fields - 928,000 oz./year - 19.6 million oz. total,
approx. $34.30 billion in gross mineral value), Bogosso/Prestea (29
miles - Golden Star - 180,000 oz./year - 3.8 million oz. total,
approx. $6.65 billion in gross mineral value), and Nzema (20 miles
- Adamus - 100,000 oz./year - 3.0 million oz. total, approx. $5.25
billion in gross mineral value).
Previous exploration conducted by Newmont Gold (2004) and others
at Edum Banso included extensive geophysical (aeromagnetic)
interpretation, soil and stream sediment sampling (5,758 samples),
trenching (319 m total - 214 channel samples), auger drilling (252
holes), and rock chips (81 samples). To date, four distinct
mineralized gold zones have been identified over an area
approximately 5 miles long by a quarter mile wide, including two
southern zones sharing contact with the unique circular shaped
Mpohor Complex geologic structure, potentially one of the largest
known gold bearing synvolcanic mafic intrusives on the African
continent. The same Mpohor Complex structure and contact zones host
the HBB Father Brown/Adoikrom deposits to the southeast.
Planned exploration work at Edum Banso includes additional
geological mapping, prospecting, soil sampling, trenching, and a
reverse-circulation (RC) drill program targeting 15-30
locations.
North Springs owns a 25% interest in Edum Banso and can acquire
an additional 10% interest by paying $250,000 to Discovery Gold and
funding a multi-phase $1,000,000 work commitment in 2012. The
Company has already advanced $150,000 to Discovery Gold towards the
total cash consideration with the balance of $100,000 payable
within 30 days.
Further updates regarding the Edum Banso Gold Project and other
North Springs business 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. Currently, we are in the evaluation and acquisition
phase of operations. 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
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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
North Springs Resources (CE) (USOTC:NSRS)
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부터 4월(4) 2024 으로 5월(5) 2024
North Springs Resources (CE) (USOTC:NSRS)
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