NSRS, North Springs Resources, Completes Agreement to Acquire Interest in Edum Banso Gold Project

North Springs Resources Corp. (OTCBB: NSRS.OB) announced that it has executed a Definitive Agreement with Discovery Gold Ghana Limited to acquire up to a thirty five percent (35%) interest in the Edum Banso Gold Project (“Edum Banso”), a high-potential gold exploration property in Ghana, Africa.

Terms of the Definitive Agreement call for North Springs to acquire an immediate 25% interest in Edum Banso by issuing 10,000,000 restricted common shares of Company stock to the current shareholders of Discovery Gold. North Springs can acquire an additional 10% interest in Edum Banso by paying $250,000 to Discovery Gold and funding a multi-phase $1,000,000 work commitment in 2012.

The Company has already advanced $150,000 to Discovery Gold towards the total cash consideration with the balance of $100,000 payable within 30 days.

The Edum Banso Gold Project is a prime example of a high-potential and almost drill-ready gold property that we think has huge near-term upside from several significant targets,” said Harry Lappa, President of North Springs. “We look forward to working closely with our new partners and anticipate appointing a qualified Project Geologist to plan and lead the next stage of exploration.

Future exploration at the Edum Banso Gold Project will test known areas of gold mineralization and other geological structures which have already demonstrated the potential to host significant gold deposits. Planned exploration work at Edum Banso includes additional geological mapping, prospecting, soil sampling, trenching, and a reverse-circulation (RC) drill program targeting 15-30 locations.

The Edum Banso concession covers 20.60 km2 (5,100 acres) located approximately 35 km (21 miles) northwest of city of Takoradi in the southeastern portion of Ghana’s historic Ashanti Gold Belt. The concession is situated less than one mile from the border of the HBB Father Brown/Adoikrom open pit gold deposits currently being mined by Golden Star Resources.

Previous exploration conducted by Newmont Gold (2004) and others at Edum Banso included extensive geophysical (aeromagnetic) interpretation, soil and stream sediment sampling (5,758 samples), trenching (319 m total – 214 channel samples), auger drilling (252 holes), and rock chips (81 samples). To date, four distinct mineralized gold zones have been identified over an area approximately 5 miles long by a quarter mile wide, including two southern zones sharing contact with the unique circular shaped Mpohor Complex geologic structure, potentially one of the largest known gold bearing synvolcanic mafic intrusives on the African continent. The same Mpohor Complex structure and contact zones host the HBB Father Brown/Adoikrom deposits to the southeast.

Further updates regarding the Edum Banso Gold Project and other North Springs business will be made as additional information becomes available.

Source: Marketwire

Be fearful when others are greedy, and be greedy when others are fearful.” – Warren Buffett

If you really want to make some considerable profits from the stock market, it is possible to make a considerable amount of money on penny stock trading. When you find the right penny stock to buy, knowing when to buy and sell is the second most important tool to maximizing your profits.

Being technical, analytical or just flat-out greedy when trading penny stocks is the easiest way to limit profits and, sometimes, even lose your entire investment. You need to have a strong and strict strategy to achieve your goal of maximizing profits while minimizing risks in penny stocks.

Listed below are a few of the many points each and every penny stock investor needs to discover.

  • Do your own research.
  • Trade Responsibly.
  • Verify everything.
  • Move Fast or Get Left Behind.
  • Do not use market orders to enter a position, use limit orders.
  • Have a System That fits You.
  • If a Stock Gaps Open, Look for Pullbacks to Enter.
  • Plan a Trade and Trade a Plan.
  • Always use stop loss orders to protect yourself.
  • Positive Self- Belief.
  • Keep trading as Part of a Balanced life.
  • If a stock breaks below our alert price GET OUT. Do not wait.
  • View Trading as a Score in Points and Not In Money:
  • Always take your profits whenever you can. Do Not Be Greedy.
  • Work Hard at Learning How to Trade Properly and Keep Working.
  • Do something to make someone else’s life better today.

About AimHighProfits.com

AimHighProfits.com strives to provide you with the hottest stock alerts in the market in Real-Time. We focus on stocks that trade for $5 per share or less, some as little as a few pennies with upside potential.

Our goal is committed to producing and publishing the highest-quality insight and analysis of small-cap stocks, emerging technology stocks, hot penny stocks and helping investors make informed decisions and to inform you of the best stocks in the market before they move. Our focus is primarily on OTC stocks in the stock market today which have traditionally been ignored by Wall Street.

We have particular expertise with internet stocks, gold stocks, renewable energy stocks, biotech stocks, oil stocks and green energy stocks. There are many hot penny stock opportunities present in the OTC market every day and we seek to exploit these hot stock gains for our members before the average daytrader is made aware of them.

Aim High Profits Disclaimer

This is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances.

AimHighProfits.com is a wholly-owned subsidiary of Kelevra Media Innovation.

While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision.

Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

For a complete explanation, please visit our disclaimer page.

Last updated by at .

  Recent Penny Stock News