Spartan Gold Ltd. (SPAG.OB) is “One to Watch”

By @ibtimes on

Spartan Gold Ltd. is a U.S. based junior gold exploration and mining company currently focused on the northeast region of Alabama. The Company is also pursuing opportunities in both the Carlin-Rain and Round Mountain-Northumberland Gold Trends in Nevada. The Carlin, and Round Mountain, and Northumberland Mining Districts of Nevada are each recognized for their major gold deposits. Trading on the OTCBB, Spartan Gold has its headquarters in Scottsdale, AZ.

The Company’s commitment is to asset growth and the continual growth of shareholder value through the development of highly prospective projects, accelerated exploration activities and the acquisition of viable resources. Spartan Gold has selected an international board of directors experienced in undertaking exploration, development and funding of numerous energy and minerals projects around the world. The directors, management and advisers of Spartan Gold have more than 90 years of combined experience in the exploration and development of global mining projects.

Spartan Gold’s main reserve site, which encompasses 320 acres, is located in Cleburne County, Alabama, 9 miles southeast of the city of Heflin. The property is located next to “Gold Hill” and is the central drain point for that hill. The State of Alabama Geologist has confirmed that this property is still one of the most desired properties in the State known to contain gold. This property has not been worked for over 120 years.

In December, Spartan Gold announced that it has signed an Option and Mining Claim Acquisition Agreement with Mexivada Mining Corporation for a property known as Poker Flats located within the Carlin Mining District in Elko County, NV. As terms of the agreement, Spartan Gold is responsible for financing the first stage exploration activities, while its joint venture partner will assume the responsibility to complete the mining feasibility study for the project upon completion of the exploration program. The Poker Flats properties comprise two non-contiguous blocks containing 25 unpatented lode mining claims, covering approximately 500 acres. The exploration goal at the Poker Flats prospect is to identify a 500,000 to 1,000,000 ounce open-pitiable mining resource.

Upon announcing the agreement, Mr. Richard Redfern, CEO and President of Mexivada, stated, “We are extremely pleased to be pursuing the historic and prolific Carlin gold mining camp with an extremely talented technical team working on the Property. We feel very confident in Spartan Gold’s ability to explore and prepare the property to drill ready status and to have Sphere Resources guiding the completion of required formal studies to validate the prospect.”

Also in December, Spartan Gold announced it executed an Option and Mining Claim Acquisition Agreement with Mexivada Mining Corporation for the Ziggurat property located in the Round Mountain-Northumberland Mining District, northern Nye County, Nevada. The Ziggurat gold property is located approximately 20 kilometers north of Round Mountain, Nevada, and comprises one contiguous block containing 57 unpatented lode mining claims, covering approximately 1,140 acres. The properties are in the vicinity of the large Round Mountain (Kinross-Barrick), Gold Hill (Kinross-Barrick), and Northumberland (Fronteer Gold) gold mines. The exploration goal at the Ziggurat prospect is to identify a multi-million ounce open-pittable gold mining resource.

According to Malcolm Stevens, Chairman & CEO of Spartan Gold, the existing data on the Ziggurat prospect is extremely encouraging because the mineralization is consistent with the producing adjacent properties. The agreement with Mexivada Mining Corp. for the Ziggurat property agreement offers Spartan Gold another significant opportunity to explore and potentially mine a concession in a very productive gold mining camp. Particularly encouraging to the company and its partners, this region has several valuable producing mines operated by recognized industry leaders.

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