Nothing Can Stop The North Springs Resources (NSRS) Crash

As if the man has no shame, Harry Lappa, CEO of the pump and dump scam North Springs resources (OTCBB: NSRS) has published yet another press release about how the company is drilling and testing for silver and gold.

As they would say in the ‘hood where I grew up: Bitch Please!

The following was released by NSRS via Marketwire:

North Springs Resources Corp. (OTC.BB: NSRS.OB) is pleased to announce that it has completed the digitization of all historic underground sampling and surface drilling data from its 100% owned Imperial Gold Silver Property, located about 150 miles northwest of Las Vegas, Nevada (the “Imperial Property”). The complete digital database contains the results of over 250 underground samples and 79 surface drill holes, along with data from the Company’s own mapping and geochemical sampling program.

“We believe that this is the first time that all of the historic Imperial Property information has been put into one comprehensive digital database,” stated Harry Lappa, President of North Springs. “Analysis of this proprietary database will allow us to understand this property unlike any other previous operator, and as a result, design a highly focused property-wide drill program. I expect to announce more details about the proposed drill program shortly.”

Gold and silver results from the Company’s sampling of the Upper and Lower Adits at the old Imperial Mine confirmed the reliability of the historic underground sampling. The Lower Adit is 2,620 feet long and the Upper Adit 950 feet long. Both adits were sampled throughout. Historic vein sampling results over 3 to six foot widths range from 0.033 oz./ton gold and 0.055 oz./ton silver to 7.636 oz./ton gold and 0.23 oz./ton silver. Although much of the mineralized vein material in proximity to the adits was removed by past mining, extensions of the known veins at depth and potential undiscovered parallel vein structures will be tested with an upcoming drilling program.

A total of 15 historic reverse circulation holes have been drilled into the Imperial Property vein system. All were drilled from north to south across the west-northwest trending Imperial fault system. Several holes hit workings, but others intersect mineralized veins. Results range from a 20 foot intersection averaging 0.037 oz./ton gold and 0.14 oz./ton silver and a 10 foot intersection averaging 0.502 oz./ton gold and 0.54 oz./ton silver. Although the historic drilling appears to have been conducted to industry standards, results have not yet been confirmed by analysis of drill cuttings or re-drilling and should be considered preliminary until such time.

Over 20 historic shallow air track and reverse circulation drill holes were completed in the “Resource Target”, an open pit, heap leach gold/silver target. Results range from no significant gold to a 35 foot intersection averaging 0.072 oz./ton gold and 0.08 oz./ton silver. These results have also not yet been confirmed by analysis of drill cuttings or re-drilling and should be considered preliminary until such time.
Surface geochemical sampling and mapping is continuing at the Imperial Property to further define drilling targets. 3D modeling of mineralization found in underground sampling and drilling is in progress and a drilling plan is expected to be completed shortly. Environmental permitting of a multi-target reverse-circulation drill program will follow.

Further updates regarding the Imperial Gold Silver Property and other North Springs projects will be made as additional information becomes available.

Bottom Line: NSRS is a pump and dump and if you get burned, so be it. Consider yourself warned.


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