North Springs Resources Corp. (OTCBB:NSRS)(PINKSHEETS:NSRS) (the
"Company" or "North Springs") is pleased to announce that it has
received additional geochemical results, including silver values
from the initial sampling program conducted during phase one
exploration at the Imperial Gold Silver Property, located about 13
miles south of South Peak, Nevada, in the Railroad Springs Mining
District (the "Imperial Property"). The additional results include
silver and multi-element assays for samples taken from underground
workings at the historic Imperial Mine site and surface sampling of
one geochemical target. Gold values for these samples were
announced February 6, 2012. Analysis of the samples was conducted
by ALS Chemex, an independent third-party laboratory in Reno,
Nevada.
"As we had hoped, all of the underground samples from the
initial phase one exploration program tested positive for silver,
another important confirmation that our assessment of the potential
at Imperial is correct," stated Harry Lappa, President of North
Springs. "The consistency, grade, and potential scale of the gold
and silver mineralization encountered at the old Imperial Mine site
and Resources Target area are all very bullish indicators for the
project."
In the Upper Adit, five (5) samples were taken across the
ceiling perpendicular to the exposed vein from 10 to 210 feet from
the portal. In addition to gold content, testing confirmed the
presence of silver in all samples, ranging from 0.03 to 0.79
oz/ton. Associated elements that were also highly anomalous include
arsenic, copper and zinc. The gold and silver results of the
sampling of the Imperial Upper Adit are listed below.
Imperial Project Upper Adit Vein Sampling
---------------------------------------------------------------------------
Distance
From Sample True
Sample Portal Width Width Gold(i) Silver Gold(i) Silver
Number (feet) (feet) (feet) (oz/ton) (oz/t) (g/t) (g/t)
---------------------------------------------------------------------------
IUU 10 10 6 6 0.059 0.05 2.02 1.6
---------------------------------------------------------------------------
IUU 65 65 5 5 0.378 0.20 12.95 7.0
---------------------------------------------------------------------------
IUU 93 93 4 4 0.127 0.11 4.34 3.9
---------------------------------------------------------------------------
IUU 128 128 5 5 0.429 0.79 14.70 27.0
---------------------------------------------------------------------------
IUU 210 210 6 6 0.055 0.03 1.88 1.0
---------------------------------------------------------------------------
(i) = Gold values for these same samples were announced February 6, 2012.
In the Lower Adit, six (6) samples were taken from 50 to 510
feet from the portal. In addition to gold content, testing
confirmed the presence of silver in all samples, ranging from 0.01
to 0.91 oz/ton. Associated elements that were also highly anomalous
include arsenic, copper and zinc. The gold and silver results of
the sampling of the Imperial Lower Adit are listed below.
Imperial Project Lower Adit Vein Sampling
---------------------------------------------------------------------------
Distance
From Sample True
Sample Portal Width Width Gold(i) Silver Gold(i) Silver
Number (feet) (feet) (feet) (oz/ton) (oz/t) (g/t) (g/t)
---------------------------------------------------------------------------
IUL 50 50 4 4 0.046 0.41 1.58 14.0
---------------------------------------------------------------------------
IUL 90 90 5 5 0.072 0.14 2.47 4.8
---------------------------------------------------------------------------
IUL 137 137 4 4 0.247 0.91 8.46 31.0
---------------------------------------------------------------------------
IUL 250 250 6 6 0.028 0.01 0.97 0.4
---------------------------------------------------------------------------
IUL 430 430 4 4 0.558 0.23 19.1 8.0
---------------------------------------------------------------------------
IUL 510 510 6 6 0.032 0.23 1.08 8.0
---------------------------------------------------------------------------
(i) = Gold values for these same samples were announced February 6, 2012.
At the Resource Target area, silver results from seventeen (17)
surface samples have also been received. Previous testing for gold
content identified an open-ended target over 800 feet long at
surface. Silver results from these same samples ranged from less
than 0.2 to 4.5 g/t. Unlike the underground workings of the
Imperial Mine site, anomalous elements associated with the Resource
Target area include arsenic and antimony. The gold and silver
results of the sampling at the Resource Target area are listed
below.
Imperial Project Resource Target Surface
--------------------------------------------------------------------------
Sample Sample Sample Width Gold Silver
Number Description (feet) (g/t) (g/t)
--------------------------------------------------------------------------
IS 1 Gossanous silicified siltstone Grab 0.62 0.6
outcrop
--------------------------------------------------------------------------
IS 2 Gossanous jasperoid outcrop 6 foot channel less less
than than
0.05 0.2
--------------------------------------------------------------------------
IS 3 Gossanous jasperoid float Grab 0.29 less
than
0.2
--------------------------------------------------------------------------
IS 4 Gossanous jasperoid outcrop 6 foot channel 0.11 less
than
0.2
--------------------------------------------------------------------------
IS 5 Partly silicified limestone 4 foot channel 0.15 0.2
outcrop
--------------------------------------------------------------------------
IS 6 Gossanous jasperoid float Grab 0.22 less
than
0.2
--------------------------------------------------------------------------
IS 7 Partly silicified bleached Grab 0.11 0.6
siltstone float
--------------------------------------------------------------------------
IS 8 Gossanous jasperoid outcrop 3 foot channel 0.11 0.3
--------------------------------------------------------------------------
IS 9 Gossanous jasperoid subcrop Grab 0.22 less
than
0.2
--------------------------------------------------------------------------
IS 10 Partly silicified bleached Grab less 0.2
siltstone subcrop than
0.05
--------------------------------------------------------------------------
IS 11 Partly silicified bleached Grab 0.11 less
siltstone subcrop than
0.2
--------------------------------------------------------------------------
IS 12 Gossanous jasperoid breccia Grab less 0.3
subcrop than
0.05
--------------------------------------------------------------------------
IS 13 Partly silicified bleached Grab less less
siltstone subcrop than than
0.05 0.2
--------------------------------------------------------------------------
IS 14 Gossanous jasperoid subcrop Grab 0.07 1.5
--------------------------------------------------------------------------
IS 15 Gossanous jasperoid subcrop Grab 0.40 0.8
--------------------------------------------------------------------------
IS 16 Gossanous jasperoid float Grab 0.11 0.5
--------------------------------------------------------------------------
IS 17 Jasperoid breccia outcrop 6 foot channel 0.51 4.5
--------------------------------------------------------------------------
Results of surface and underground sampling indicate potentially
two separate mineralizing events at the Imperial Property. In one
area of the property, a higher temperature mineralizing event is
believed to be associated with the veins sampled underground at the
Imperial Mine site. This mineralization has a close association
between gold/silver and base metals. In another area of the
property, surface sampling indicates there was probably a separate
lower temperature mineralizing event with gold associated with
antimony. This lower temperature event shows several key
characteristics of a "Carlin-type" system which includes the
presence of jasperoid and a thin-bedded calcareous host rock.
Carlin-type deposits represent some of the largest hydrothermal
gold deposits in the world, including the Goldstrike Mine in
Nevada, the largest Carlin-type deposit in the world, containing
more than 35,000,000 ounces of gold.
Additional work anticipated at the Imperial Property may include
further surface sampling and the compilation of all historic
exploration data, including the creation of a digital drilling
database to be used to plan any future drilling.
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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