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Might be the same attack as on GSS. They stomped on it big time yesterday to the close. Earnings beat the street. They stomped it one more time and then it cut loose!
GoldSpring, Inc. Announces Positive 2008 Drill Results
GoldSpring, Inc. Announces Positive 2008 Drill Results
GOLD HILL, Nev., Feb 28, 2008 /PRNewswire-FirstCall via COMTEX/ -- GoldSpring,
Inc. (GSPG) announced today that it has received positive, third-party assay data
for the two exploratory holes drilled during January 2008 in the Hartford Complex
in the Comstock Lode District of Nevada.
In holes 2008-01 and 2008-02 the assay data shows ore grades much higher than
those previously encountered by the Company, and a solid progression from the
assay data issued in January 2008 on the first four exploratory drills.
Jim Golden, GoldSpring's chief operating officer stated, "We are delighted with
the results of the fifth and sixth exploratory holes, as they contain a higher
grade of both gold and silver than what was previously discovered in the first
four holes of this program. We are particularly excited that the grades of silver
per ton are growing very significantly."
January 2008 Exploratory Drill Results
-- Fifth Exploratory Hole, 2008-01: high grade intercepts encountered
include 15 feet grading 0.048 ounces per ton gold, and 1.85 ounces per
ton silver. The hole at 55 feet showed grading 0.070 ounces per ton
gold and 2.42 ounces per ton silver.
-- Sixth Exploratory Hole, 2008-02: includes 10 feet of mineralization
grading 0.164 ounces per ton gold and 1.19 ounces per ton silver.
Golden continued, "The holes drilled in January 2008 demonstrate healthy silver
and gold mineralization continuing 200 feet north of the initial four holes we
drilled in December 2007, and 200 feet toward the south. It is important to
emphasize that the grades GoldSpring is encountering in the current drilling
program are much higher quality than the grades previously mined, and are
progressively improving."
Rob Faber, GoldSpring president and chief executive officer said, "The data from
American Assay provide a strong indication of additional mineralization in the
Hartford Complex. Based on the strong results, a second reverse circulation drill
is now on site to accelerate the drilling program. The second drill will be used
to further delineate the ore body as it trends toward the north, while the first
drill will continue to expand and delineate the size of the ore body in the
south. We are further encouraged that the size of the ore body appears to be
expanding. The phase one drilling program is bringing the Company an important
step closer to our scheduled resumption of mining the Hartford Complex in the
summer of 2008."
Overall, the GoldSpring team is pleased with the results of the first six holes
in the phase one drilling program. The Company believes these results should
continue and intends to release additional independent data from the phase one
drill holes as they are assayed.
Exploratory Drilling Results Table
The Company's current drilling plan is located on Northing 771600. The first two
holes of 2008 are located 100 feet and 200 feet north of the mineralized zone
established by the Company's four December 2007 exploratory drill holes. Assayed
data received to date for the Company's phase one drilling program are
highlighted in the table.
Drill HoleFenceInterceptGold GradeSilver Grade
(Date andLocationin Feet(ounces per(ounces per
Number)(Northing)ton Au)ton Ag)
Jan. 2008-02771800N35'-55'0.0291.27
120'-130'0.1641.19
135'-215'0.0330.29
245'-275'0.0371.29
275'-325'0.0031.71
Jan. 2008-01771700N30'-65'0.0480.90
120'-265'0.0451.27
Dec. 2007-04771600N50'-60'0.0060.09
Dec. 2007-03771600N55'-90'0.0310.81
Dec. 2007-02771600N160' - 275'0.0740.69
Dec. 2007-01771600N65' - 135'0.0520.64
All of the assays in this news release have been preformed by American Assay of
Reno, Nevada, a laboratory independent of GoldSpring, utilizing industry standard
analytical methods.
About GoldSpring, Inc.
GoldSpring, Inc. is a North American precious metals mining company with
extensive, contiguous property in the Comstock Lode District and an operating
gold and silver mine. In the Company's relatively short history, it secured
permits, built an infrastructure and brought the Comstock Lode project into
production. Since 2005, the Company has been acquiring additional properties
around its Comstock Lode project in northern Nevada, expanding its footprint and
creating opportunities for exploration. The Company's objectives are to optimize
production, increase reserves through exploration and acquisitions, expand its
footprint in the Comstock, and maximize shareholder value.
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 Form 10-KSB filed on April 15, 2005, 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
http://www.goldspring.us
Robert T. Faber, President and CEO
480.603.5151
775.847.5272
E-mail: rfaber@goldspring.us
SOURCE GoldSpring, Inc.
http://www.goldspring.us
Copyright (C) 2008 PR Newswire. All rights reserved
Pushing 970 now.
IMO, could mirror the GSPG rise. No lifeguard on duty...
Escala's Expanded Operations Set for March 2008
LAS VEGAS, NV, Feb 28, 2008 (MARKET WIRE via COMTEX) -- Franklin Mining, Inc.
(PINKSHEETS: FMNJ) (FRANKFURT: FMJ) CEO, William Petty, has confirmed that his
previously announced commitment to expand mining operations at the Escala will be
underway no later than mid-March 2008.
"On the strength of the Austpac Gold N.L. analysis from 1994 and Franklin's
engineering staff having now confirmed that same report's exploration studies, I
am today committing Franklin Mining, Inc. to rapidly expanding all production
schedules at our Escala I mining concession," Mr. Petty said. "We have equipment
and technology available to us today that was not available to Austpac in 1994.
Those new physical resources, together with very promising signs of significantly
greater mineral findings, are rapidly turning Escala into a major operation."
With Franklin's silver recovery operation just now completing its second month of
operations, that portion of Franklin's Escala commitment will be expanded to
include an additional two tunnels in mid-March. Mining operations will expand to
all seven tunnels with the arrival of the necessary generators in mid-April.
Total production from the currently available seven tunnels is estimated to be
745 tons. February's production contained the projected silver, lead, zinc
complexes with early traces of gold in its expected small quantity and a
continuation of copper findings in greater than expected quantities.
Franklin's engineers made a preliminary exploration of areas of the Escala known
to contain significant quantities of gold. Their assessment is that all
engineering findings in Austpac's 1994 report are correct. Based on Austpac's
assay results and February's exploration, Franklin's recovery operations will be
expanded to include gold immediately following a fully equipped silver operation.
Additional information on Franklin Mining, Inc's plans for further expanding
mining at the Escala is available at http://www.FranklinMining.com, specifically
in Mr. Petty's Letter from the President which will be posted February 28, 2008.
About The Escala Mine: Comprising three separate mining applications, COMIBOL's
Escala Mine concession totals 2,000 hectares located in the Sud Lipez Province,
near Bolivia's border with Argentina. Franklin Mining, Bolivia has been awarded a
contract to mine 500 hectares within the original concession. Escala II and
Escala III mining applications are currently assigned to another company.
The original Escala Mine was established during the Spanish colonial period and
has been mined for lead, zinc, gold and silver. In 2007, Franklin Mining, Bolivia
negotiated an agreement with COMIBOL, National Mining Company of Bolivia, to
resume mining operations within the area of the original concession.
About Franklin Mining, Inc: Franklin Mining, Inc. holds mining and energy
interests in the United States and Bolivia as well as energy interests in
Argentina. Franklin Mining, Bolivia is a wholly owned subsidiary.
Franklin Mining, Inc. holds 51% ownership in both Franklin Oil & Gas, Bolivia
S.A. and Franklin Oil & Gas, Argentina S.A.
DISCLOSURES: "Safe Harbor" statement under the Private Securities Litigation
Reform Act of 1995: This press release contains forward-looking statements that
are subject to risk and uncertainties, including, but not limited to, the impact
of competitive products, product demand, market acceptance risks, fluctuations in
operating results, political risk and other risks detailed from time to time in
Franklin Mining, Inc.'s filings with the Securities and Exchange Commission.
These risks could cause Franklin Mining, Inc.'s actual results to differ
materially from those expressed in any forward-looking statements made by, or on
behalf of, Franklin Mining, Inc.
For further information, contact:
Investor Relations
A.S. Austin & Company
1-702-386-5379
http://www.FranklinMining.com
SOURCE: Franklin Mining, Inc.
http://www.FranklinMining.com
Copyright 2008 Market Wire, All rights reserved.
GSS results beat the street.
U.S. Precious Metals Announces Surface Sample Assay
U.S. Precious Metals Announces Surface Sample Assay
CELEBRATION, Fla., Feb 28, 2008 (BUSINESS WIRE) -- U.S. Precious Metals, Inc.
(USPR.OB OTCBB) Director Sheldon Baer announced today that USPR has received
encouraging assay results from the latest shipment of surface samples. Shipped
under "Chain of Custody" by Applied Minerals to Chris Christopherson Laboratories
in Smelterville, Idaho the results of the assays are as follows.
LS 01-28-08-1.....0.008 ounces per ton gold.....25.64 ounces per ton silver
LS 01-28-08-2.....0.030 ounces per ton gold.....3.92 ounces per ton silver
LS 08-01.....0.016 ounces per ton gold.....1.92 ounces per ton silver
LS 08-07.....0.010 ounces per ton gold.....0.40 ounces per ton silver
LS 09-07.....0.022 ounces per ton gold.....0.36 ounces per ton silver
Mr. Baer also authorized metallurgical testing to be completed by CC
Laboratories. Mr. Baer said the metallurgical testing will provide us the
information necessary for a production oriented pilot plant. In addition, Mr.
Baer said today that the first of the core samples have been shipped from the
USPR facility in Morelia, State of Michoacan, Mexico to the United States for
assay.
US Precious Metals, Inc. is a gold exploration company operating in Mexico
through its wholly owned Mexican subsidiary, U.S. Precious Metals de Mexico. US
Precious Metal's common stock is quoted on the OTC Bulletin Board under the
symbol "USPR."
Statements contained herein that are not based upon current or historical fact
are forward-looking in nature. Such forward-looking statements reflect the
Company's expectations about its future operating results, performance and
opportunities that involve substantial risks and uncertainties. When used herein,
the words "anticipate," "believe," "estimate," "plan," "intend" and "expect" and
similar expressions, as they relate to U.S. Precious Metals, Inc., or its
management, are intended to identify such forward-looking statements. These
forward-looking statements are based on information currently available to the
Company and are subject to a number of risks, uncertainties, and other factors
that could cause the Company's actual results, performance, prospects, and
opportunities to differ materially from those expressed in, or implied by, these
forward-looking statements. Factors that could cause or contribute to such
differences include, but are not limited to, such factors, including risk
factors, discussed in the Company's Registration Statement on Form SB-2, as
amended, and its Annual Report on Form 10-KSB, as amended, for the year ended May
31, 2007. Except as required by the Federal Securities law, the Company does not
undertake any obligation to release publicly any revisions to any forward-looking
statements to reflect.
SOURCE: U.S. Precious Metals, Inc.
U.S. Precious Metals, Inc.
Jack Wagenti, 407-566-9689
Chairman of the Board/CEO
http://www.usprgold.com
Copyright Business Wire 2008
Still a bit concerned CDE went red today. It often leads the pack, but HL held up well. Other miners too. GSS closed at it's exact high. Confusing.
954 definitely not a bore!
Interesting development. In the RED.
Gotta beat 5.10 first! We don't want no double tops....yet!
18.66
I'm now up 21% in two days.
OT: Drilling Intersects New Gold-Silver Zone at Cebada Mine, Guanajuato; Extends Known Silver Orebody at Porvenir Mine, Guanacevi, Mexico
Drilling Intersects New Gold-Silver Zone at Cebada Mine, Guanajuato; Extends
Known Silver Orebody at Porvenir Mine, Guanacevi, Mexico
VANCOUVER, Feb 26, 2008 /PRNewswire-FirstCall via COMTEX/ -- Endeavour Silver
Corp. (EDR: TSX, EXK: AMEX, and EJD: Frankfurt) announces that initial drilling
results from the 2007 drill program at Guanajuato have outlined a new gold-silver
mineralized zone north of the Cebada Mine.
Three drill holes intersected the new mineralized zone near Section Line 3785,
about 800 m north of the Cebada shaft, over an area 50 m along strike by 50 m
down dip, still open in all directions. An old Penoles exploration tunnel along
the Veta Madre vein that passes about 50 m beneath the new drill holes was
reported to have intersected 4.62 gpt gold and 466 gpt silver over 4.27 m,
indicating that the high grade mineralization continues at depth.
Drilling highlights include 4.54 gpt gold and 316 gpt silver (16.5 oz per ton
silver equivalents, based on a 55:1 silver:gold ratio) over a 1.70 m core length
(5.9 ft) in hole CE 378-2 as shown in the following table:
-------------------------------------------------------------------------
Cebada Mine Drill Results
-------------------------------------------------------------------------
CoreTrue
HoleFromLengthWidthSilverGoldAg Equivalent
(no)(m)(m)(m)(gpt)(gpt)(opt)(ft)
-------------------------------------------------------------------------
CE378-1372.051.801.701943.5911.45.9
CE378-2336.701.701.403164.5416.55.6
CE383-1389.401.801.47904.389.75.9
The drilling of an additional 6 holes is now underway to better define this new
"3785" mineralized zone, as part of the 17,500 m drill program budgeted for
Guanajuato in 2008. The initial goal is to try and extend the new "3785" zone
updip towards surface.
Endeavour also announces that preliminary drilling results from the 2007 drill
program at Guanacevi have extended the known silver orebody at the Porvenir Mine.
Two drill holes intersected the Santa Cruz vein at depth, extending to the
northwest the previously defined resource area.
Drilling highlights include 1.45 gpt gold and 531 gpt silver (17.8 oz per ton
silver equivalents) over 2.10 m core length (6.9 ft) in hole NP 21-7, as shown in
the following table:
-------------------------------------------------------------------------
Porvenir Mine Drill Results
-------------------------------------------------------------------------
CoreTrue
HoleFromLengthWidthSilverGoldAg Equivalent
(no)(m)(m)(m)(gpt)(gpt)(opt)(ft)
-------------------------------------------------------------------------
NP21-7486.102.101.615311.4517.86.9
NP22-7472.153.552.283630.8512.011.6
Assays for an additional 2 holes are still pending in this area, and for recently
completed holes in the Santa Cruz mine area further to the southeast. However, an
underground drill has now been mobilized to test for deeper extensions to the
central part of the Porvenir orebody, as part of the 12,700 m drill program
budgeted for Guanacevi in 2008.
Endeavour currently has five drill rigs working in Mexico in five exploration
target areas, Cebada and Golondrinas at Guanajuato, Porvenir and Milache at
Guanacevi and Cometa at Parral. A total of 38,000 m of drilling in approximately
150 drill holes has been budgeted for the 2008 exploration program in Mexico.
Barry Devlin, Vice President of Exploration, commented, "We are thrilled to see
our exploration efforts at Guanajuato starting to pay dividends, with this
discovery of the new "3785" mineralized zone north of the Cebada mine. While
Endeavour has several high quality drill targets yet to be tested at Guanajuato
and Guanacevi, we will be putting new emphasis on drilling off this new zone as
well."
Barry Devlin, M.Sc., P.Geo. Vice President Exploration is the Qualified Person
who reviewed this news release and supervised the surface drilling and sampling
programs at the Parral, Guanacevi and Guanajuato Projects. A Quality Control
sampling program of blanks and duplicates has been instituted to monitor the
integrity of all assay results. All core samples are split at the Parral,
Guanajuato, or Guanacevi field offices and shipped to ALS-Chemex Labs, where they
are dried, crushed, split and 50 gram pulp samples are prepared for analysis.
Gold and silver are determined by fire assay with an atomic absorption (AA)
finish and lead, zinc and copper are determined by AA.
Endeavour Silver Corp. (EDR: TSX, EXK: AMEX, EJD: DBFrankfurt) is a small-cap
silver mining company focused on the growth of its silver production, reserves
and resources in Mexico. The expansion programs now underway at Endeavour's two
operating mines, Guanacevi in Durango and Bolanitos in Guanajuato, coupled with
the Company's aggressive acquisition and exploration programs in Mexico should
enable Endeavour to join the ranks of top primary silver producers worldwide.
ENDEAVOUR SILVER CORP.
Per:
/s/ "Bradford J. Cooke"
Bradford J. Cooke
Chairman and CEO
CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS
--------------------------------------------------
Certain statements contained herein regarding the Company and its operations
constitute "forward-looking statements" within the meaning of the United States
Private Securities Litigation Reform Act of 1995. All statements that are not
historical facts, including without limitation statements regarding future
estimates, plans, objectives, assumptions or expectations of future performance,
are "forward-looking statements". We caution you that such "forward looking
statements" involve known and unknown risks and uncertainties that could cause
actual results and future events to differ materially from those anticipated in
such statements. Such risks and uncertainties include fluctuations in precious
metal prices, unpredictable results of exploration activities, uncertainties
inherent in the estimation of mineral reserves and resources, fluctuations in the
costs of goods and services, problems associated with exploration and mining
operations, changes in legal, social or political conditions in the jurisdictions
where the Company operates, lack of appropriate funding and other risk factors,
as discussed in the Company's filings with Canadian and American Securities
regulatory agencies. Resource and production goals and forecasts may be based on
data insufficient to support them. Godfrey Walton, M.Sc., P.Geo., President and
COO is the Qualified Person for the Company as required by NI 43-101. The Company
expressly disclaims any obligation to update any forward-looking statements. We
seek safe harbour.
CONTACT: Hugh Clarke, Toll free: 1-877-685-9775, tel: (604) 685-9775, fax: (604)
685-9744, email investorrelations@edrsilver.com or visit our website,
http://www.edrsilver.com
SOURCE Endeavour Silver Corp.
OT: "We don't believe in bailouts, and I don't believe we would be able to support judges being able to change their bankruptcy rules," White House spokeswoman Dana Perino said.
Sooo, what are they doing with the banks??? LOL
The chart still looks fantastic. It's the same formation being repeated except higher as a month ago. Flagging out in the upper range. A trade below .014 is the time to get nervous. Right now it's behaving superbly. For now, I ain't skeered.
Since Copper just broke out. Picked up some of this just for fun.
18.06. Picked up EXK just for fun. Mas Silver por favor!
However, "the speed with which the metal recovered from its dip suggests plenty of players remain on the sidelines keen to buy dips, and that rate-cut expectations and rising inflationary pressures will continue to draw investment demand," Moore said in a research note.
Gold drops on report U.S. backs IMF gold sales
By Polya Lesova, MarketWatch
Last Update: 12:01 PM ET Feb 25, 2008
NEW YORK (MarketWatch) -- Gold futures dropped sharply Monday after a senior
Treasury official said that the U.S. supports the proposed sale of a part of the
gold reserves held by the International Monetary Fund.
Gold for April delivery fell $11.30, or more than 1%, to $936.60 an ounce on the
New York Mercantile Exchange.
"The support that the U.S. is now apparently lending to the recently proposed IMF
gold sales -- which is a departure from its previous negative stance on such
sales -- is causing a few to take profits," said Jon Nadler, senior analyst at
Kitco Bullion Dealers, in a research note.
"It is believed that the sales, slated to commence in April, might bring some 400
tons of gold out of the IMF vaults and onto the market," Nadler said.
David H. McCormick, under secretary for international affairs at the Treasury
Department, said Monday that the Bush administration considers the plan to sell
12.9 million ounces of gold as "probably the most viable" option to ensure the
long-term funding of the IMF, Dow Jones Newswires reported Monday.
McCormick said that there is "some confidence that there will be some support for
this" among members of the U.S. Congress and "broad-based support" for the plan
among members of the Group of Seven industrial nations, according to the report.
The IMF ranks as the number three holder of gold in reserves, after the U.S.
Federal Reserve and Germany's Bundesbank.
On Friday, gold finished down $1.40 but chalked up a weekly gain of $41.70. On
Thursday, gold surged to a record high of $958.40 an ounce.
Thursday's gains pushed gold toward overbought territory, as borne out by gold
appearing to struggle to rally to close out the week, said James Moore, an
analyst at TheBullionDesk.com.
However, "the speed with which the metal recovered from its dip suggests plenty
of players remain on the sidelines keen to buy dips, and that rate-cut
expectations and rising inflationary pressures will continue to draw investment
demand," Moore said in a research note.
Dollar gains
On the currency markets, the dollar got a boost against major rivals Monday,
after U.S. home-sales data were not as downbeat as many investors had expected.
See Currencies.
Click for Detail
The dollar index, which measures the greenback against a basket of six major
currencies, was at 75.573, up from 75.480 before the data and 75.514 in Friday's
late U.S. trading.
Resales of U.S. homes and condos dropped 0.4% in January to a seasonally adjusted
annualized rate of 4.89 million, even as inventories of homes on the market rose,
the National Association of Realtors reported Monday.
It was the lowest sales pace since the real estate group began tracking combined
sales in 1999 but was stronger than the 4.80 million pace expected by economists
surveyed by MarketWatch. See Economic Report.
Click for Detail
They still have to get the majority vote though.
silver back to 18 already.
IMF sales scare tactic. I added 1/3 more to GLD on the dip. Let's see how silly the lumpens are to fall for it.
Notice the word "some" in last post. It's nothing but a scare tactic.
McCormick: Some Confidence Congress Will OK IMF Gold Sales
McCormick: Some Confidence Congress Will OK IMF Gold Sales
Last week all the talk was how it is stupid to sell and then they sold. I bought. POG is 949 tonight. Who be stupid? We'll find out.
Heads-up: Look at the volume spike on IMR. Don't know which direction it's headed, but interesting!
I'm extremely encouraged in the face of DOWn -100.
I hear an echo.
18.10/948 I have this technical term to apply to that...WOO HOO!
The tune changes day by day. Just like the market!
It ain't over 'till the fat lady sings, but looky there...CDE 4.77 in the green while the DOWn is -90. For the moment, I guess I'm just a lucky guy.
POG may easily break 960 from here. The chart has been flagging out nicely and could mirror Platinum in that people won't believe how high this run can go. The reason I picked up the biggest chunk of GLD ever last week. So far, it's paid off nicely. Unless the DOW REALLY tanks, CDE won't fill that gap right away and will test 5 again in short order. Best case was a turnaround @4.72 hence my order @4.75. Looks more like a bounce @4.65ish. If not, can't win 'em all.
Actually, gold broke 950.
Now there's a sensible post!
I'll be back @4.75 for a short term trade. I hope!
If there ever was a time for divergence of everything gold from everything DOWn this is it!
No complaints. In since .003!
Picked this up today higher than planned in case it catches the CDE draft. Puzzling why HL used to be one of the leaders and is now lagging. I'd rather buy a laggard than chase a rocket. To easy to get burned. Tomorrow should be interesting.
Mighty strong run. Nothing goes straight up though. I'll catch it on the flip side. Already took profits on the last two runs. Meanwhile, loaded up on the Silver laggards. I'll trade those and pick up CDE when the big boys take some off the table.
Moved my re-entry up to 4.46. Last I looked, this is America and I can do that!