Archive for the ‘GoldSpring Inc. GSPG’ Category

Dutton Associates Featured Company: GoldSpring, Inc. (GSPG.OB)

Friday, September 19th, 2008

GoldSpring, Inc. (OTCBB: GSPG) is a North American precious metals mining company that holds contiguous property in the Comstock Lode District and a fully permitted gold and silver mine. Since 2005, the company has been acquiring additional properties around their Comstock Lode project in northern Nevada, expanding their presence and creating opportunities for further exploration.

As a company that is relatively new in the mining industry, GoldSpring has aggressively pursued potential opportunities, secured the proper permits, built an infrastructure, and brought the Comstock Lode project into production. The company believes in optimizing production, continuing to grow their reserve base through exploration and acquisitions, establishing a strong footprint in the Comstock, and maximizing shareholder value.

The Comstock Lode exploration project is located between Carson City and Virginia City, Nevada, just 30 miles southeast of Reno in an area known as American Flat. The company’s Gold Canyon and Spring Valley placer claims are located in Lyon County, Nevada, five miles south of their Plum property, in American Flat/Gold Hill, Nevada. The Plum exploration activities include open-pit gold and silver test mining, as well as a comprehensive analytical test involving the area.

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GoldSpring Inc. (GSPG.OB) Receives Updated Report on Resource Estimates

Wednesday, September 17th, 2008

GoldSpring Inc. (OTCBB: GSPG) today announced results from the updated resource estimate it received from independent geology firm Telesto Nevada Inc. in regards to its GoldSpring Hartford Complex in the Comptock Lode District. The report gives estimates of the contained resource gold ounces at the Hartford Complex, representing less than 2% of the company’s overall holdings.

The estimate report takes into consideration 19 additional drill holes that were not mentioned in the June 10, 2008, Preliminary Resource Report. Based on the previous report and current gold prices, the preliminary estimated valuation would have been $305 million.

However, the updated report marks a total of 57 drill holes from prior campaigns, indicating a resource of about 7.17 million tons grading 0.072 ounces per ton of gold containing 510,000 ounces of gold at a cutoff grade of 0.030 ounces per ton. Based on current gold prices, the company has the potential of approximately $418 million of identifiable resources.

The company’s missions are to increase reserves through exploration, expand its footprint in the Comstock, resume mining, optimize its production and maximize shareholder value. And with the recent updated estimate reports, the company may be well on its way to achieving these goals.

“We will continue to develop the drill indicated resource while exploring our expanded property position. We anticipate that the development activities will result in gold and silver production during 2009. Additionally, we will continue to explore for new deposits within the boundary of our consolidated land position.” Jim Golden, GoldSpring’s COO stated in the press release.

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GoldSpring, Inc (GSPG) Appoints Gene McClelland and Jeff Butwell to Consulting Team

Thursday, March 6th, 2008

GoldSpring, Inc., a North American precious metals mining company formed in 2003, announced that Gene McClelland, a metallurgical engineer, and Jeff Butwell, a mineral engineer, will be joining the Company’s consulting team. GoldSpring’s team now holds professionals in all aspects of mine management and mineral project development. Other team members include: Mike Norred, mine engineer; Dennis Andersen, professional mine engineer and Nevada certified environmental manager; and Dwight Juras, PhD, geologist.

GoldSpring’s President and Chief Executive Officer, Rob Faber commented, “We are very pleased to have Gene McClelland and Jeff Butwell help us oversee our ore analysis, conceptual design and the implementation of the optimal metal recovery facility at the Hartford Complex in the Comstock Lode. They are both highly regarded metallurgists with extensive knowledge of the Comstock Lode District. I look forward to working with them as we move closer to our scheduled resumption of mining the Hartford Complex in the summer of 2008.”

GoldSpring’s Chief Operating Officer, Jim Golden also commented, “We recruited Gene McClelland and Jeff Butwell after a substantive search for top metallurgist consultants. These two important consultants further strengthen the GoldSpring team. I respect their professional and leadership accomplishments. As part of the phase one drilling program, our team is further delineating the ore body in the Hartford Complex.”

With over 30 years of experience in precious metals research, Gene McClelland, President of McClelland Laboratories in Sparks, Nevada, has published over 100 articles about precious metals processing and holds three patents related to that process. He has been also teaching professionals for the past 10 years regarding various heap leach processing techniques. Mr. McClelland has also completed over 3,000 research and testing projects for metal recovery.

Jeff Butwell, the Metallurgical Consultant for T.P. McNulty & Associates, Inc., has over 40 years experience in metallurgical and process design and application in the precious metals recovery industry, has earned his M.S. in metallurgical engineering from Columbia University, and was the previous senior metallurgist for Whitney and Whitney, where he focused on process plant scoping, equipment sizing and flowchart design, operating and capital cost estimates, as well as plant operations.

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Hototc Featured Company: GoldSpring Inc. (GSPG.OB) Strikes it Rich with Positive Third Party Tests

Thursday, February 7th, 2008

Some may say “been there done that” but they wouldn’t be miners taking a second look at a once thought “played out” mining district. Today’s mining companies don’t use a pick and shovel to strike it rich but rather a testing service with a drilling machine. Either way, striking the “mother load” is still striking the “mother load”, even if it was the proverbial “mother load” in its day.

GoldSpring Inc., a gold and silver exploration and mining company, continues to expand its holdings footprint within the Hartford Complex of the northern Nevada Comstock District. December 2007 test drilling results, from an outside testing service, indicate that a parcel in question holds greater reserves, at a higher purity rate than initial tests had shown. Additional added benefits from the tests show veins close to the surface and at a length that crosses into an adjoining parcel held by the company.

Generally speaking, tests of this type bode well for the company’s past and current development strategy. Past strategic moves have lead to an infrastructure being put into place for expected operations to commence post haste. It has also lessened the chances of interference from approvals and permits agencies. Having confirmation of purity and location of the gold and silver keeps the company on schedule to meet shareholders expectations.

Following apparent successes, with regard to past plans laid, the company expects to continue its acquisition of parcels within the Comstock District that meet its guidelines. Now that confirmation has been made, all that needs to be done by the company is to get the gold and silver out of the ground, processed and sold. From a general perspective, this is not such a bad position to be in when the price of gold is hovering around $900.00 an ounce.

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