North Springs Resources provides an update on the current drilling program at the Goldstar-One Arm Joe gold project, the company’s 20% owned property situated in Arizona.
The primary reports have shown that the company is continuing the drilling program as per the plan and that visual analysis performed on the primary target has identified several distinct rock discoloration segments that showed both iron oxide and quartz veining mineralization.
According to North Springs’ President, Harry Lappa, visual inspection of iron oxide and quartz veining mineralization is found to be positive, because both are believed to be the main gold carriers on the property and other gold producing properties in the region.
The company has extended the ongoing drilling program by 40%, from 15 holes to 21 holes and concentrates on seven high-priority targets. North Springs will drill three holes of different orientation and depth at each target. The drill program is likely to persist throughout a week, at around 100 ft per day. The company will log the recovered core samples, whose diameter is 3” from the property at a central location. Then, these samples will be sent for assay testing. The company has planned to publish the ongoing Goldstar diamond core drill program’s video footage on its website.
The company earned 20% interest in the property by funding $500,000 to the ongoing development and exploration program. In addition, the company has the right to purchase an extra 15% interest in the Goldstar property by funding $3,000,000 for additional exploration and development program.
Source: http://www.northspringsresources.com/