North Springs Resources Corp. (OTCBB: NSRS.OB) announced that drilling is expected to commence later today at the Company’s 20% owned Goldstar/One Arm Joe Gold Project (the “Goldstar Property” or “Goldstar”) located near Wickenburg, Arizona. In an effort to document exploration progress at the property, the Company intends to record significant events on video and make them available for public viewing through the North Springs corporate website.
The first video is expected to be available for viewing within the next 24-hours at www.northspringsresources.com.
North Springs anticipates that the drill program will include a total of 15 diamond core holes testing several high-priority targets. Previous exploration at the Goldstar Property assisted in the calculation of an estimated reserve of 500,000 tons with an average grade of 0.7oz gold per ton – which could yield approximately 350,000 ounces of gold.
“The Goldstar program is off to a fast start, and as planned, we are ready to drill at what could become the most prolific gold mine in Arizona,” stated Harry Lappa, President of North Springs Resources.
“Because this could be a historic moment for everyone involved, we have decided to document parts of the drill program on video. I hope that all our Company shareholders and the public can join in on the buildup of excitement as we drill for the next few weeks.“
North Springs earned its 20% interest in the Goldstar Property by already supplying funding of $500,000 towards the current exploration and development program. The Company also has the right to acquire an additional 15% interest in the Goldstar Property by supplying $3,000,000 in funding for further exploration and development.
Further updates regarding the Goldstar/One Arm Joe Gold Project and other North Springs business will be made as additional information becomes available.
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