Message #56 From:
NewsBot Date: September 23, 2008 11:00:23 PM
GoldSpring Going For The Gold With Expansion
Assay Results point to a fifty percent increase of the Known Gold and Silver Resource Footprint at the Hartford Complex
GoldSpring, Inc.
(OTC Bulletin Board: GSPG stock) announced that new assay results point to
strong gold mineralization 1,150 feet northwest of the known resource area in
the Hartford Complex, potentially increasing the resource footprint by fifty
percent. This ore body, based on geological data, is a continuation of the
prolific Silver City fault mineralization, which runs directly through the
known Hartford Complex resource area. In addition, the precious metals rich
zone appears to gain depth to the east and shallows to the west indicating the
direction of the deposit.
The Company performed step-out drilling to verify strong gold
mineralization results identified in two historic holes drilled in 1991. The
results from the Company's four drill holes, coupled with the historic drill
holes, show significant mineralization in this area. The six drill holes are
highlighted by near surface mineralization of 15' grading 0.321 gold ounces
per ton; 15' grading 0.276 gold ounces per ton; 45' grading 0.093 gold ounces
per ton; 25' grading 0.066 gold ounces per ton; and 20' grading 0.035 gold
ounces per ton.
'I participated in the early stage planning of the Hartford Complex's
Lucerne Pit with Rea Gold in 1991, and I have believed for some time that this
is an area which warrants our exploration focus,' said Jim Golden,
GoldSpring's Chief Operating Officer. 'I am very excited by these initial
assays, and believe that we should aggressively drill additional holes to
support our findings.'
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 increase
reserves through exploration, expand its footprint in the Comstock, resume
mining, optimize its production, 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 filings with the
U.S. Securities and Exchange Commission, 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
