Penny Stock on Watch: North Springs Resources Corp. (NSRS)
  • Penny Stock on Watch: North Springs Resources Corp. (NSRS)
  • Stock Alert for North Springs Resources Corp. (NSRS)
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    Penny-Cap Stock on Watch: North Spring Resources Corp. (NSRS)

    Penny-Cap Stock on Watch: North Spring Resources Corp. (NSRS)

    Making gains for the fourth day in a row, North Spring Resources Corp. (OTC: NSRS) moved up 9.58% to close Thursday’s trade at $0.88.  Over 12.94 million shares traded hands during the session, topping the 30-day average of 1.50 million.  The rally took the price to a new 52-week high of $0.94 earlier in the day.

    NSRS shares have gained 52.1% in the last five days; 1,160.1% in the last month; and 8,721.0% in the last six months.

    Shares of Nevada-based North Springs Resources were boosted on news that final property and drill site preparations have been completed at the company’s 20% owned Goldstar/One Arm Joe Gold Project, which is located near Wickenburg, Arizona.

    Wilcox Professional Services LLC, the third-party engineering firm contracted to conduct and supervise the drill program at Goldstar, expects that a diamond core drilling rig will arrive at the property on Monday, with drilling to commence immediately after rig setup and testing. The company expects that a total of 15 holes will be drilled as part of this program to confirm and expand the known gold mineralization at Goldstar.

    According to the release, North Springs Resources earned its 20% interest in the Goldstar Property by already funding $500 K towards the current exploration and development program. It also has the right to acquire an additional 15% interest in the Goldstar Property by supplying $3 million in funding for further exploration and development.

    “The potential of the project is enormous. We are confident that the planned exploration work Goldstar could quickly prove up and expand the current gold estimate of 350,000 ounces and put us on track to build the next great high-grade gold mine in Arizona,” commented Harry Lappa, president of North Springs Resources.

    The Arizona project news came in just two days after the company provided an update on its letter of intent to acquire an interest in the Edum Banso Gold Project in Ghana’s $150 billion Ashanti Gold Belt District.  North Springs Resources shares leaped to a 52-week high on the news.

    North Springs Resources is focused on the evaluation, acquisition, exploration, and development of mineral resource properties. The Company, currently in the evaluation and acquisition phase of operations, is led by a skilled and experienced management team and independent consulting geologists with many years of experience. The company is committed to creating value for its shareholders by advancing its current holdings and by acquiring new properties with significant potential.

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