The 60-claim Glenwood property is one of three Newfoundland joint venture projects in which Springer is earning a 50% interest from Noranda Exploration.
Trenching completed last month on soil anomalies encountered a narrow gold-bearing quartz vein within a shear zone. Follow up channel sampling yielded a high grade result of 43.2 g (1.2 oz) gold per ton over 2.6 ft. Recent diamond drilling on the showing intersected 4.05 g (0.12 oz) gold over 3.3 ft. The anomalous zone, called the Bullet showing, occurs within a 2-ft wide shear zone hosted by an arsenopyrite-bearing black shale.
In other news, the company reports it has made an offer, subject to regulatory approval, to acquire a 50% interest in 683 units in the Sulphurets and Eskay Creek gold camps of northern British Columbia.
The acquisition involves the purchase of all issued and outstanding shares of Arania Minerals, and Lauran Minerals, two non-reporting private companies. The acquisition will increase Springer’s position in the Sulphurets properties to 75% from 25%.
]]>
Be the first to comment on "Springer Resources reports gold zone"