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No, SPMC announced 100% acquisition of Eagle Nest mining property (should be finalized next week). URHN & SPMC have join venture for gold mining on Eagle Nest (SPMC 51%, URHN 49%)
Ok, now I'm a little confused. SPMC was acquired by URHN? Is that what you meant to say? And yes, it wouldn't take too much volume to 10x it imo.
SPMC should come with final terms of Eagle Nest property next week... hey, URHN was running for a week on SPMC "acquisition" - why not Sparrowtech this time?
Market Cap is still 'round $95k - any "gold" speculation and we'll see at least 10X from these levels. imo
looks nice. Well, I'm still holding a few .0003s and I don't need to sell. It's a lotto for me. Willing to hold for as long as it takes. I've seen companies in similar positions go to pennies and I've seen them go to .0001. Guess that's why they call the trips lotto's if you go long with them. Don't do it very often. Just waiting and watching. GL!~
reply from T/A: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=38607051
a/s is still 150M common - according to the CEO it hasn't been changed; how long triple zeros will be here? market should decide that...
Do you know what the AS and OS are? 120 mil float? Sure moves easier than that imo. Must be a bunch of shares locked up. Interesting day today. How much longer do you think we'll see triple zero's?~
light volume; should fly on Eagle Nest news - only 120M+ float
Email from Cornelia:
Dear Sir,
Thank you for your email.
Sparrowtech Resources, Inc. will be issuing a press release on the proposed
acquisition of the Eagle Nest Mining property, with further details, upon
closing, which is anticipated to occur in the near future.
Furthermore Sparrowtech Resources, Inc. will be issuing a press release on
the Joint Venture with Uranium Hunter Corporation, upon its closing on or
before June
30, 2009.
Yours truly,
Cornelia Volino
President
Sparrowtech Resources, Inc.
Original Message:
-----------------
From: xxxxxxxxxxxxxxxx
Date: Wed, 17 Jun 2009 08:30:55 -0700 (PDT)
To: info@sparrowtech.net
Subject: Eagle's Nest Property
Uranium Hunter (URHN) has been PR'ing recently about the property and that
you and they were proud to release 2008 assay results. I was wondering if
you will begin updating shareholders as well? Also, where are we with the
closing on the property since it is now the middle of June. Thanks in
advance for your help. I will be sure to share your responses with other
curious SPMC investors.
I've sent a couple of emails to SPMC (one to info@sparrowtech.net, and the other through their contact us form on the website). I doubt I will hear anything, but I asked about the URHN PR's and if the property is on track for closing since it is June.
interview with Calabrigo 'bout Eagle Nest mining property
http://smallcapvoice.com/blog/6-16-09-audio-interview-with-uranium-hunter-corporation-otcbb-urhn/
geez, he didn't mention that Sparrowtech will have 51% of it & URHN is 49% in joint venture...
No news from Sparrowtech yet...
if sparrowtech got 100% of the property - volume'll be coming...
i'm not buying 'till news...
Unfortunately I think I am the only one on Ihub who is in this with you given the volume, lol
----- Original Message -----
From: "info@selectfidelity" <info@selectfidelity.com>
To: "Alex"
Sent: Monday, May 11, 2009 14:09
Subject: Re: Sparrowtech Resources shareholder info request
> Alex, the total free trading is 117,494,520 shares. the total preferred is 7,000,000 shares. the total restricted is 50,500,000 shares.
> Regards,
>
> Joanne
> Select Fidelity Operations
Thursday, June 11 2009 8:30 AM, EST Uranium Hunter Provides Results of Independent Assay and Concentration Testing Showing Significant Concentrations of Gold and Silver PR Newswire "US Press Releases "
TORONTO , June 11 /PRNewswire-FirstCall/ -- Uranium Hunter Corporation (OTC Bulletin Board: URHN) and Sparrowtech Resources, Inc. are pleased to announce the results of two independent assay and concentration tests completed in late 2008 at the Eagle Nest Mining Property. The Company recently entered into a Joint Venture Agreement to acquire 49% interest of the Eagle Nest Mining Property Claims ("Eagle Nest") located in La Paz County, Arizona from Sparrowtech Resources, Inc.
Mr. Reno Calabrigo, President stated, "These independent results confirm management's belief that Eagle Nest shows great potential to produce high levels of gold reserves. According to the results, Eagle Nest is considered to be heavily mineralized with excellent vein structure running throughout. The initial metallurgical work also suggests excellent recovery by environmentally friendly closed loop leaching. As a 'green' mining company, Uranium Hunter is pleased with these findings and plans to work with Sparrowtech to do further advance testing on the mine using carbon-neutral processes whenever possible. Uranium Hunter is also progressing on acquiring further precious metal properties and will be in a position to announce acquisitions in the near term."
Assay and Concentration Testing
November 2008 assay reports of samples taken on Eagle Nest by New Verde River Mining Co. Inc. indicate gold values of 0.666 ounces per ton to 1.100 ounces per ton and silver values of trace amounts to 0.09 ounces per ton.
Separately, Met-Solve Laboratories, Inc. ran two 7 kilo samples for concentration tests in December 2008 . These tests indicated that the calculated head ore of sample one assayed at 5.3 grams per ton. After concentrating, sample one assayed at 82.1 grams of gold per ton in the concentrate. The tails had 1.7 grams of gold per ton remaining.
The tests further indicated that the calculated head ore of sample two assayed at 9.3 grams per ton. After concentrating, sample two assayed at 142.7 grams of gold per ton in the concentrate. The tails had 1.5 grams of gold per ton remaining.
About the Company:
Uranium Hunter Corporation (OTCBB: URHN) is an exploration company primarily targeting the uranium and precious metal industries in the resource sector. Initially, the Company was founded with the focus of developing a portfolio of quality uranium exploration properties in East Africa . With the recent shift in economic conditions, management has decided to diversify the Company's interests to include the precious metals industry.
For further information on the Eagle Nest Mining Property, please visit our new website at: www.uraniumhuntercorp.com
Safe Harbor
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Uranium Hunter Corporation and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
SOURCE Uranium Hunter Corporation
spoke to Uranium Hunter (URHN) CEO Mr. Calabrigo 416 915-4257
Sparrowtech should close acquisition of Eagle Nest mining property next week & Uranium's planning to start a production in July. Reminder:
51% for SPMC
49% for URHN
It must have happened that someone just bought some stock and that's it.
Or I am wrong? What do you think?
up 354%
pulled this one up looking at charts
hmmm wonder what caused the pps to go up
oh yes, I know that...this company is involved in these nasty business... I have also found some information on it.
http://www.pinkinvesting.com/2008-08-07/what-is-happening-in-sparrowtech-resources-inc-spmcpk/
After all, imho that's not so nice as I would like to expect.
I problem with this stock is the spread.
At $ .03 by $ .06, no-one who has bought this stock
in the last "longest" time, has any chance of seeing
their money back, let alone keeping it to under a
50 % loss if they sell. The minute you buy it, it's
worth half as much. That is an awfully risky bet.
Second, I wrote the management of this company
several weeks ago, requesting information on finances
and other matters.
NO ANSWER.
It would seem to me, that if the company were real...
it would at least provide some information on how they
intend to pay for this purchase, or at least would
answer e-mails.
Again, I come back to the feeling that this is an
attempt at a "Pump & Dump" scheme, with the "exclusive
option" on the Anderson Creek Mine as the teaser.
My bet is that it ends badly for anyone who thinks
this is a real deal.
Well, they only have another $ 7.5 million to raise for
the purchase price. Then, another $ 2 million for working
capital to ge things going.
Somehow, I doubt they have the money.
My guess, is that this is just a scheme to pump the
stock and sell shares.
If you got to Pinksheets.com and look up SPMC's fillings you will notice that they put a $50 K deposit down on the AC mine.
Thanks,
Tweeter
"Johnathon Moxon you are under arrest for not being naked with some sophomore chic who wants to ba^g you with her tong^e". BEEYAHH
September 17, 2007 - 11:50 AM EST
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SPMC 0.06 -0.0025
Today 5d 1m 3m 1y 5y 10y
Sparrowtech Launches New Website and Begins Due Diligence
Sparrowtech Resources, Inc.("Sparrowtech") (Pink Sheets:SPMC) is pleased to announce the launch of its new corporate website. Sparrowtech's website can be viewed at www.sparrowtech.net. The website will be available for all investors to receive up to date corporate news and to view stock quotes at www.pinksheets.com.
Cornelia Volino, President stated, "The launch of our new corporate website will provide potential and current shareholders access to corporate updates and media releases on a timely basis." Ms. Volino further stated, "This valuable media vehicle is essential to our strategic market awareness program and will be utilized to encourage and maintain shareholder communication access."
Sparrowtech further announced that it has begun its due diligence process on the Anderson Creek Mining Property in the Mayo Mining Division of Yukon, Canada. Sparrowtech is planning to send a team of mining experts, which will include an independent mining engineer specializing in placer gold extraction as well as mining in the Yukon, to the property in the very near future.
About Sparrowtech
Sparrowtech's corporate mission is to establish itself as a leader of environmentally conscious mining operations. Sparrowtech will identify exploration opportunities and acquire producing mines in recognized gold districts, increasing productivity through modernization, improve working conditions and address environmental concerns where needed.
A number of statements contained in this press release may be considered to be forward-looking statements. These forward-looking statements involve a number of risks and uncertainties including but not limited to: competitive market conditions, successful integration of acquisitions, and the ability to secure sources of financing. The actual results that Sparrowtech may achieve could differ materially from any forward-looking statements due to such risks and uncertainties.
Sparrowtech Resources, Inc.
Cornelia Volino, President, 905-773-4277
Fax: 905-773-4677
Email: info@sparrowtech.net
Source: Business Wire (September 17, 2007 - 11:50 AM EST)
News by QuoteMedia
www.quotemedia.com
I am highly suspect of this company.
Reasons ?
1 ) They were going to become a coffee company not too long
ago.
2 ) Then, they changed their mission to be that of a gold
mining company.
3 ) Then, they announced a planned merger with a Puru gold
company, which later fell thru.
4 ) Finally, they announce the exclusive option to purchase
the Anderson Creek Mine.
Thoughts :
They have no experience in gold mining.
I know the Anderson Creek Mine project, and the cost alone
is way outside this company's ability to pay, let alone
raise the funds for.
It would appear to me as though this is nothing more than a
"blank check" company searching for something to bilk the
public of their money.
This company will never close on the Anderson Creek Mine.
September 13, 2007 - 12:11 PM EST
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SPMC 0.06 0.005
Today 5d 1m 3m 1y 5y 10y
Sparrowtech Announces Engagement of Investor Relations Firm, StockProfiler.US, LLC
Cornelia Volino, President of Sparrowtech Resources, Inc. (Pink Sheets:SPMC) is pleased to announce the engagement of investor relations firm, StockProfiler.US, LLC based in Merrimack, New Hampshire, www.stockprofiler.us. StockProfiler.US has been engaged to further develop shareholder awareness for the Company. Ms. Volino stated "We are delighted to have StockProfiler.US assist us in updating our current shareholders, and expanding overall investor awareness."
Sam Brown, Chief Executive Officer of StockProfiler.US, LLC stated "StockProfiler is very excited about working with Sparrowtech Resources, Inc. We look forward to implementing a strategic market awareness and financial communications program for this Company. Sparrowtech will be a valuable addition to our growing network of publicly traded companies."
About StockProfiler.US LLC
StockProfiler.US is a media source for publicly traded companies and investors to come together and discover market opportunities. Public companies have the opportunity to effectively broadcast their message to an audience that have come to StockProfiler.US seeking to discover companies in their start-up phase or ones who have yet to be fully discovered by the investment community.
Knowing the companies of tomorrow, the new technology leaders of today, and the executives behind these leading companies, StockProfiler.US is a very powerful tool that provides investors and business opportunists with a vast knowledge of Market and Industry changes and new viable opportunities. StockProfiler.US opens the lines of communication between entrepreneurs, investors and companies seeking to take advantage of opportunities that emerge from quality business relationships.
About Sparrowtech
Sparrowtech's corporate mission is to establish itself as a leader of environmentally conscious mining operations. Sparrowtech will identify exploration opportunities and acquire producing mines in recognized gold districts, increasing productivity through modernization, improve working conditions and address environmental concerns where needed
A number of statements contained in this press release may be considered to be forward-looking statements. These forward-looking statements involve a number of risks and uncertainties including but not limited to: competitive market conditions, successful integration of acquisitions, and the ability to secure sources of financing. The actual results that Sparrowtech may achieve could differ materially from any forward-looking statements due to such risks and uncertainties.
Sparrowtech Resources, Inc.
Cornelia Volino, President, 905-773-4277
Fax: 905-773-4677
Email: info@sparrowtech.net
Source: Business Wire (September 13, 2007 - 12:11 PM EST)
Sparrowtech Targets Gold Mining in Peru
TORONTO, Jul 16, 2007 (Canada NewsWire via COMTEX) -- Sparrowtech Resources, Inc. ("Sparrowtech")(OTC-PINK:SPMC) announced today that it has signed a Letter of Intent with Overseas Mining, S.A. ("Overseas"), a Panama corporation, to acquire 80% of the assets of Andrea Gold II, a gold producing mine located in Suyo, Piura, in the Province of Ayabaca, Peru, subject to the completion of the due diligence review. The assets of Andrea Gold II include mineral rights, mining interests, claims, processing plant, and other equipment.
Sparrowtech President, Cornelia Volino, stated "This shift in mining properties is a direct result of considering the overall corporate and financial objectives of Sparrowtech in the short and long term. We value our relationship with Overseas Mining S.A. and look forward to continuing our alliance with them as we evaluate Andrea Gold II's producing operations."
Ms. Volino and mining experts will be travelling to Peru to visit the mine and begin the due diligence in the near future.
Located approximately 60 km from the Ecuadorian border, the Andrea Gold II concession is accessible year round by road and is close to the Pan-American Highway.
A number of statements contained in this press release may be considered to be forward-looking statements. These forward-looking statements involve a number of risks and uncertainties including but not limited to: competitive market conditions, successful integration of acquisitions, and the ability to secure sources of financing. The actual results that Sparrowtech may achieve could differ materially from any forward-looking statements due to such risks and uncertainties.
SOURCE: Sparrowtech Resources, Inc.
CONTACT: Sparrowtech Resources, Inc. Cornelia Volino, President Tel: 905-773-4277 Fax:
905-773-4677 Email: info@sparrowtech.net
Copyright (C) 2007 CNW Group. All rights reserved.
Sparrowtech Terminates Negotiations
TORONTO, Jul 12, 2007 (BUSINESS WIRE) -- Sparrowtech Resources, Inc. ("Sparrowtech") (Pink Sheets:SPMC) announced today that negotiations with Overseas Mining, S.A., a Panama corporation, to acquire 80% of the mineral rights, mining interests, claims, equipment and other assets of Minera El Porvenir, S.A. ("Porvenir") have been terminated.
A number of statements contained in this press release may be considered to be forward-looking statements. These forward-looking statements involve a number of risks and uncertainties including but not limited to: competitive market conditions, successful integration of acquisitions, and the ability to secure sources of financing. The actual results that Sparrowtech may achieve could differ materially from any forward-looking statements due to such risks and uncertainties.
SOURCE: Sparrowtech Resources, Inc.
CONTACT: Sparrowtech Resources, Inc.
Cornelia Volino, President, 905-773-4277
Fax: 905-773-4677
Email: info@sparrowtech.net
Copyright Business Wire 2007
Sparrowtech Completes Due Diligence on Porvenir Mining Property in Southern Ecuador
TORONTO, Jun 25, 2007 (BUSINESS WIRE) -- Sparrowtech Resources, Inc. ("Sparrowtech") (Pink Sheets:SPMC) is pleased to announce that it has completed its due diligence regarding its proposed acquisition of Minera El Porvenir, S.A. ("Porvenir"), and its gold mining properties located in the western end of the Ecuadorian metallurgical gold belt.
Sparrowtech's independent geologist, Larry Sostad of Vancouver, British Columbia, travelled to the Porvenir mining property in Southern Ecuador to inspect the mine and prepare a detailed geological report. Sparrowtech also received two additional technical reports from Ecuadorian geologist Jaime Piedra and Ecuadorian mining engineer Mario Falquez Andrade.
"We are pleased with the three reports we received from the two geologists and the mining engineer as they confirm the active mining operations and potential of the Porvenir mining property," stated Cornelia Volino, President. "We look forward to completing this acquisition and implementing the required modernization to assist Porvenir in increasing and maximizing its production potential."
Sparrowtech is currently in the process of finalizing the definitive purchase agreement with Overseas Mining, S.A., a Panama corporation, to acquire 80% of the mineral rights, mining interests, claims, equipment and other assets of the Porvenir mining property. The analysis of the geological and technical reports will be released upon the signing of the definitive purchase agreement.
A number of statements contained in this press release may be considered to be forward-looking statements. These forward-looking statements involve a number of risks and uncertainties including but not limited to: competitive market conditions, successful integration of acquisitions, and the ability to secure sources of financing. The actual results that Sparrowtech may achieve could differ materially from any forward-looking statements due to such risks and uncertainties.
SOURCE: Sparrowtech Resources, Inc.
CONTACT: Sparrowtech Resources, Inc.
Cornelia Volino, President, 905-773-4277
Fax: 905-773-4677
Email: info@sparrowtech.net
Copyright Business Wire 2007
^^^^^^^^^^^^^^^^^MOST RECENT NEWS^^^^^^^^^^^^^^^^^^
Sparrowtech Signs Exclusive Option to Purchase Placer Gold Mining Property in the Mayo Mining Division of Yukon, Canada
TORONTO, Aug 10, 2007 (Canada NewsWire via COMTEX) -- Sparrowtech Resources, Inc. ("Sparrowtech") (Pink Sheets: SPMC) announced today that it has entered into an Exclusive Option to purchase the assets and mineral rights of the Anderson Creek Mining Property ("Anderson Creek"), in the Mayo Mining Division of Yukon, Canada from IE-TEC Holdings Limited, IE-TEC Marketing Limited and Aurora Mines, Inc.
The assets of Anderson Creek include 39 mineral claims, mining rights, machinery and equipment. Placer gold exploration has been conducted on Anderson Creek since 2000 utilizing a unique extraction technology. This technology has earned Anderson Creek a Canadian Environment Inspection "A" rating. For further detail on Anderson Creek visit: www.ac-mine.com.
Sparrowtech President, Cornelia Volino stated, "Acquiring the Anderson Creek Mining Property will enable Sparrowtech to utilize its network of Canadian geologists, mining engineers and experts, which will ensure accurate analysis and assessment, efficient management of operations, and controls." Ms. Volino further stated, "We look forward to travelling to the Yukon to visit Anderson Creek and begin our due diligence process in the near future."
Sparrowtech also announced that the Company has terminated negotiations with Overseas Mining, S.A. and will not be purchasing any interests in the assets of the Peruvian Gold Mine, Andrea Gold II.
A number of statements contained in this press release may be considered to be forward-looking statements. These forward-looking statements involve a number of risks and uncertainties including but not limited to: competitive market conditions, successful integration of acquisitions, and the ability to secure sources of financing. The actual results that Sparrowtech may achieve could differ materially from any forward-looking statements due to such risks and uncertainties.
SOURCE: Sparrowtech Resources, Inc.
CONTACT: Sparrowtech Resources, Inc. Cornelia Volino, 905-773-4277 President Fax: 905-773-4677
info@sparrowtech.net
Copyright (C) 2007 CNW Group. All rights reserved.
Contact Information Business Description
510 Sunset Beach Rd.
Richmond Hill, ONT L4E 3J7
Canada
http://www.sparrowtech.net
* Phone: 905-773-4277
* Fax: 905-773-4677
* E-mail: info@sparrowtech.net
Sparrowtech has now entered the natural resources mining industry and is evaluating several mining opportunities involving gold, uranium and other metals.
*
Primary SIC — Industry Classification
1040 - Gold and Silver Ores
*
State Of Incorporation
NV
*
Country Of Incorporation
USA
*
Year Of Incorporation
2003
*
Company Officers
Cornelia Volino, President, Treasurer, Secretary, Dir.
*
SEC Reporting Status
non-SEC Reporting Company
*
Fiscal Year End
12/31
*
Estimated Market Cap
2,380,818 as of Sep 7, 2007
*
Outstanding Shares
43,287,600 as of Dec 31, 2006
*
Authorized Shares
150,000,000 as of Jun 8, 2004
*
Number of Share Holders of Record
0
*
Company Notes
o Formerly=Sparrowtech Multimedia Corp. until 3-07
o Formerly=Otis Winston Ltd.(NV) until 6-04
*
Transfer Agent
Select Fidelity Transfer Services Ltd.,
335 Bay St.
Suite 600
Toronto, ON M5H 2R3
Canada
*
Auditor/Accountant
Murrell, Hall, McIntosh & Co., PLLP
2601 NW Expressway
Suite 700E
Oklahoma City, Ok 73112
*
Legal Counsel
Stephen A. Zrenda Jr.
100 N Broadway Ave.
Suite 2440
Oklahoma City, OK 7310
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Sparrowtech Resources, Inc.
100 King Street West, Suite 5700
Toronto, ON M5X 1C7
Tel: 416-915-3176
Fax: 416-915-3177
Email: info@sparrowtech.net
http://www.sparrowtech.net
Sparrowtech Resources, Inc. is an exploration and resource development company focused on acquiring environmentally conscious mining operations, primarily in North America. The Company's leadership team plans to identify unique opportunities to extract gold and other precious metals from previously producing mines and/or establish new discoveries in recognized gold districts. The Company's strategy follows socially responsible production by supporting improved working conditions and modernization techniques that leave little to no carbon footprint
Sparrowtech Resources, Inc. plans to establish itself as a leader of environmentally conscious mining operations. We intend to identify exploration opportunities, acquire producing and previously-producing mines in recognized gold districts, while increasing productivity through improved working conditions and modernization with environmental consideration.
» Incorporated 2003 in the State of Nevada, USA
» 2004 Reverse Merger with Sparrowtech Multimedia Corporation (incorporated Florida 2000).
» Name changed on March 2007 to Sparrowtech Resources, Inc. to target the natural resources and ».mining industry.
» Pursued several acquisitions in Peru, Ecuador and North America.
» Due diligence determined alternate opportunities and/or projects would best suit Sparrowtech's ».objectives in the short and longer term.
» Additional acquisitions currently being reviewed.
Sparrowtech Resources, Inc. has entered into an agreement to acquire 100% interest in the Eagle Nest Mining Property ("Eagle Nest") from D.A.R. Mining.
The Eagle Nest Mining Property
The Eagle Nest claims include a previously producing Au-Cu-Ag-Fe (Gold, Copper, Silver and Iron) mine located 10 miles off Highway 95 in La Paz County, Arizona. Easy access to the mine site and a good water supply will facilitate ease of construction for a potential processing plant as well as expansion of the mine site.
Mineralization previously documented on Eagle Nest is very fine-grained to visible flaky gold, with oxidized copper ores and staining, in a linear, lenticular ore body with a steeply dipping fault zone cutting metamorphic Mesozoic, red, hematitic shale. Lenticular ore body formed from oxidation and enrichment was also found in the fault zone.
Previous workings include a 400 feet (121.92 meter) deep shaft and about 170 feet of drifts on the 100 level with some near-surface stopes. The previous mining operation on this property recorded historic productions of 1,050 tons of ore averaging about 1.07 ounces per ton gold, 1.8% copper and 2.1 ounces per ton silver.
History of the Bouse Mining District
The Bouse Mining District, where Eagle Nest is located, is a mid-tertiary system of epithermal mineralization, which was introduced into a stacked sequence of lithotectonic units that are located on the northern side of the Plomosa Detachment Fault. Complex epithermal gold, barite and fluorite mineralization is superimposed on earlier copper-specularite mineralization. Gold occurs in laterally extensive breccias and in steeply dipping amethystine-quartz veins. These deposits are similar to the proven and mined Copperstone and Mesquite deposits.
This District involves an important type of Arizona gold deposit, called a "detachment fault" deposit. Detachment fault deposits were first recognized as a separate form of gold deposit in the 1980's. The best example of an Arizona detachment gold deposit is Copperstone, which is about 20 miles from Bouse. It was the biggest gold discovery in Arizona in at least 50 years. Cyprus Gold profitably mined the 500,000 oz open pit resource during the 1980's. The Bouse Mining District is an historic gold producer.
This acquisition is scheduled to close in May 2009 providing management is satisfied that this agreement is in the best interest of its shareholders and sufficient financing has been secured.
Sparrowtech Resources, Inc. (PINK SHEETS:SPMC) is pleased to announce that it has completed the acquisition of a 100% interest in the Eagle Nest Mining Property Claims AMC294529 and AMC294535 and filed the Mining Quit Claim Deed in La Paz County, Arizona from D.A.R. Mining and Mr. Marvin Roe.
The Company paid the Sellers US$35,000, plus agreed to pay a 3% net smelter return royalty on the revenues from the production of gold and all other commodities produced from Eagle Nest's hard rock, lode type mineralization. The Company also agreed to initiate a work program within the first year.
The Company further announces the results of two independent assay and concentration tests completed in late 2008 at the Eagle Nest Mining Property ("Eagle Nest").
Cornelia Volino, President stated, "According to these previous independent results, Eagle Nest is considered to be mineralized with vein structure running throughout. The initial metallurgical work also suggests possible recovery by environmentally friendly closed loop leaching. We will provide details of our proposed work program as well as further sample and testing results in the near future."
Assay and Concentration Testing
November 2008 assay reports of samples taken on Eagle Nest by New Verde River Mining Co. Inc. indicate gold values of 0.666 ounces per ton to 1.100 ounces per ton and silver values of trace amounts to 0.09 ounces per ton.
Separately, Met-Solve Laboratories, Inc. ran two 7 kilo samples for concentration tests in December 2008. These tests indicated that the calculated head ore of sample one assayed at 5.3 grams per ton. After concentrating, sample one assayed at 82.1 grams of gold per ton in the concentrate. The tails had 1.7 grams of gold per ton remaining.
The tests further indicated that the calculated head ore of sample two assayed at 9.3 grams per ton. After concentrating, sample two assayed at 142.7 grams of gold per ton in the concentrate. The tails had 1.5 grams of gold per ton remaining.
About Sparrowtech Resources, Inc.
Sparrowtech Resources, Inc. is an exploration and resource development company focused on acquiring environmentally conscious mining operations, primarily in North and South America. The Company's leadership team plans to identify unique opportunities to extract gold and other precious metals from previously producing or producing mines and/or establish new discoveries in recognized gold districts. The Company's strategy follows socially responsible production by supporting improved working conditions and modernization techniques that leave little to no carbon footprint. For more information, visit www.sparrowtech.net.
Safe Harbor
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Sparrowtech Resources, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
SOURCE: Sparrowtech Resources, Inc.
Sparrowtech Resources, Inc. Cornelia Volino President 416-915-3176 info@sparrowtech.net
Converge Global and Uranium Hunter Join Sparrowtech to Develop Arizona Mining Property
2009-06-28 18:31 ET - News Release
Also News Release (U-CVRG) CONVERGE GLOBAL INC
Also News Release (U-URHN) URANIUM HUNTER CORP
TORONTO, ONTARIO -- (MARKET WIRE) -- 06/28/09
Sparrowtech Resources, Inc. ("Sparrowtech") (PINK SHEETS: SPMC) announced today that it has entered into option agreements with Converge Global, Inc. ("Converge Global") (PINK SHEETS: CVRG) and Uranium Hunter Corporation ("Uranium Hunter") (OTCBB: URHN) on its recently acquired Eagle Nest Mining Property ("the Property") in La Paz County, Arizona.
Eagle Nest Mining Property
Sparrowtech acquired a 100% interest in the Eagle Nest Mining Property (Claims AMC294529 and AMC294535) from D.A.R. Mining and Mr. Marvin Roe. These property claims include a previously producing Au-Cu-Ag-Fe (Gold, Copper, Silver and Iron) mine located 10 miles off Highway 95 in La Paz County. Easy access to the mine site and a good water supply will facilitate ease of construction for expansion of the mine site.
Converge Global, Inc. Option (www.convergeglobalinc.com)
Converge Global acquired an option from Sparrowtech to purchase a 45% Earned In Interest in the Property. Converge Global paid to Sparrowtech US$30,000. Converge Global is required to pay five million shares of CVRG Common stock by July 15, 2009, US$20,000 by September 30, 2009 and an additional US$15,000 to Sparrowtech on June 27, 2010, June 27, 2011 and June 27, 2012, respectively.
Converge Global also agreed to pay a 3% net smelter return royalty on the revenues from the production of gold and all other commodities produced from the Eagle Nest Mining Property's hard rock, lode type mineralization.
Converge Global, Inc. is an American-based junior mining company engaged in the acquisition, exploration and development of properties containing principally gold as well as other precious metals.
Uranium Hunter Corporation Option (www.uraniumhuntercorp.com)
Uranium Hunter also acquired an option from Sparrowtech to purchase a 49% Earned In Interest in the Property. Uranium Hunter paid to Sparrowtech US$45,000 and five hundred thousand shares of URHN Common stock. Uranium Hunter is required to pay an additional US$150,000 toward exploration of the Property over a one year period.
Uranium Hunter further agreed to pay a 3% net smelter return royalty on the revenues from the production of gold and all other commodities produced from the Eagle Nest Mining Property's hard rock, lode type mineralization and an additional US$15,000 to Sparrowtech on April 21, 2010, April 21, 2011 and April 21, 2012, respectively.
Uranium Hunter Corporation is an exploration company primarily targeting the uranium and precious metal industries in the resource sector. Initially, the Company was founded with the focus of developing a portfolio of quality uranium exploration properties in East Africa. With the recent shift in economic conditions, Management has decided to diversify the Company's interest to include the precious metals industry.
Cornelia Volino, President, stated, "We look forward to working together with both Converge Global, Inc. and Uranium Hunter Corporation in the exploration and development of the Eagle Nest Mining Property. We believe these alliances will be beneficial to the Property and to the growth of Sparrowtech."
Sparrowtech further announced that it will be the Operator Manager of the exploration programs on the Eagle Nest Mining Property and will be entitled to a 15% administration fee on exploration expenditures.
RECENT SHARE STRUCTURE
SPMC TA update
Subject: Re: SPMC--Sparrowtech Resources, Inc.
Sent By
info On: September 4, 2009 10:01 AM
the total o/s for SPMC is 154,544,520 shares. The common are
124,494,520, and the restricted is 30,050,000 shares.
A/S 160M as per Nev SOS
https://esos.state.nv.us/SOSServices/AnonymousAccess/CorpSearch/CorpDetails.aspx?lx8nvq=0fsqWYryzfDBIUj4hyJxKg%253d%253d
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From Most Recent Quarterly Filing, pg. 1 on pinksheets.com:
Stockholders' Equity
Preferred Stock - Class A, 5,000,000 shares authorized
at $,001 par value, 7,000,000 shares issued(2007 - 3,000,000) Common stock
150,000,000 shares authorized at $.001 par value,
127,544,520 shares issued and outstanding in March 31, 2009
127,544,520 shares issued and outstanding in December 31, 2008
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