News more results....
GOLD HILL, Nev., May 7, 2008 /PRNewswire-FirstCall via COMTEX/ -- GoldSpring,
Inc. (OTC Bulletin Board: GSPG) announced favorable drill results from its
exploration program at the Hartford Complex in the Comstock Lode region of
Nevada. Drill holes 25 through 27 are a continuation of the Company's definition
drilling program and show strong mineralization in and around the Hartford
Complex.
"We are excited by these additional results," said Jim Golden, GoldSpring's
Chief Operating Officer. "Assay results have been received from an additional
three reverse circulation holes since the last report of drill results on April
25, 2008. These drill holes, completed since December 2007, were designed to
test the extent of known mineralization in the Hartford Complex. High-grade
silver and gold mineralization was intersected in many of the drill holes and
all holes intersected multiple gold- and silver-bearing veins. The drilling for
holes 25 through 27 are highlighted by a twenty-five foot interval (285'-310')
grading 0.239 ounces per ton gold and 0.94 ounces per ton silver."
Summary Exploratory Drilling Results Table
The Company has initiated geologic and engineering efforts with the objective of
providing a report on the mineral resource outlined in the on-going exploration
program coupled with historical exploration data.
* Drill Hole 27: encountered twenty feet (0'-20') grading 0.044 ounces
per ton gold and 0.94 ounces per ton silver followed by ten feet
(140'-150') grading 0.063 opt gold and 0.56 ounces per ton silver,
eighty feet (175'-255') grading 0.044 ounces per ton gold and 0.38
ounces per ton silver and one hundred eighty feet (315'-495') grading
0.040 ounces per ton gold and 1.13 ounces per ton silver.
* Drill Hole 26: encountered twenty-five feet (0'-25') grading 0.025
ounces per ton gold and 0.88 ounces per ton silver at the surface. The
drill hole later encountered one hundred thirty-five feet grading 0.065
ounces per ton gold and 0.41 ounces per ton silver and forty-five feet
(390'-435') grading 0.029 ounces per ton gold and 0.69 ounces per ton
silver. This hole bottomed in ore.
* Drill hole 25: encountered from the surface to a depth of 60 feet
gold/silver mineralization grading 0.033 ounces per ton old and 0.80
ounces per ton silver, fifteen feet (135'-150') graded 0.034 ounces per
ton gold and 0.06 ounces per ton silver, followed by sixty-five feet
(165'-230') grading 0.029 ounces per ton gold and 0.50 ounces per ton
silver, fifteen feet (315'-330') grading 0.014 ounces per ton gold and
0.09 ounces per ton silver and seventy feet (525'-595') grading 0.015
ounces per ton gold and 0.14 ounces per ton silver.
To date, the Company's phase one drilling program results are summarized
in the table below.
Drill Hole Intercept Gold Grade Silver Grade
Number in Feet (ounces per (ounces per
ton Au) ton Ag)
27 0'-20' 0.044 0.94
140'-150' 0.063 0.56
175'-255' 0.044 0.38
315'-495' 0.040 1.13
26 0'-25' 0.025 0.88
240'-375' 0.065 0.41
395'-435' 0.029 0.69
25 0'-60' 0.033 0.80
135'-150' 0.034 0.06
165'-230' 0.029 0.50
315'-330' 0.014 0.09
525'-595' 0.015 0.14
24 0'-25' 0.052 0.64
150'-235' 0.103 0.54
285'-420 0.022 1.03
23 75'-235' 0.058 0.78
260'-300' 0.030 1.04
22 0'-20' 0.012 0.24
30'-40' 0.134 1.57
70'-140' 0.040 0.43
21 210'-305' 0.046 0.61
20 70'-75' 0.013 0.04
390'-395' 0.015 0.04
19 0'-45' 0.010 0.13
140'-180' 0.045 0.63
205'-230' 0.013 0.56
18 0'-40' 0.010 0.29
260'-265' 0.022 1.63
17 60'-130' 0.031 0.50
16 290'-300' 0.088 0.07
385'-535' 0.047 0.07
555'-755' 0.032 0.25
15 10'-25' 0.054 1.74
115'-320' 0.118 1.32
325'-365' 0.029 3.53
14 10'-40' 0.034 0.72
55'-80' 0.109 0.75
210'-225' 0.082 0.08
290'-330' 0.091 0.23
13 0'-70' 0.025 0.34
12 0'-60' 0.012 0.18
445'-460' 0.062 0.14
11 175'-265' 0.043 0.47
285'-350' 0.076 1.28
10 20'-400' 0.109 0.66
09 10'-25' 0.054 1.74
115'-320' 0.118 1.32
325'-350' 0.030 .020
08 40'-55' 0.037 0.17
85'-150' 0.060 1.04
07 15'-185' 0.068 1.50
06 35'-55' 0.029 1.27
120'-130' 0.164 1.19
135'-215' 0.033 0.29
245'-275' 0.037 1.29
275'-325' 0.003 1.71
05 30'-65' 0.038 0.90
120'-265' 0.045 1.27
04 50'-60' 0.006 0.09
All of the assays referenced herein and the data derived therefrom have been
performed and analyzed 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, focused in
Nevada, with extensive, contiguous property in the Comstock Lode District. Our
Company was formed in mid-2003, and we acquired two properties in the Comstock
Lode before the end of the year. We secured permits, built an infrastructure and
brought the exploration project into test mining production within a year of its
acquisition. The Company, in 2005, began consolidating the Comstock Lode by
acquiring additional properties in the district, expanding our footprint and
creating opportunities for exploration and mining. We are an emerging company,
looking to build on our success through the acquisition of other mineral
properties in the Comstock Lode District with reserves or exploration potential.
The Company's objectives are to resume mining, 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
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