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

    Penny Stock on Watch: North Springs Resources Corp. (NSRS)

    Shares in mineral resource company North Springs Resources Corp. (OTC: NSRS) have fallen as much as 55.7% in the last five days, pairing gains made earlier last week. Shares of the penny stock lost $0.16, or 27.2%, to close Wednesday’s trade at $0.43. Over 118 million shares traded hands during the session, against the 10-day average of 47.22 million.

    The penny stock dropped 20.8% in the last 30 days, though it gained 4,200.0% in the six months to date.

    North Springs Resources, which is currently in the evaluation and acquisition phase of operations, on Wednesday announced that an expanded sampling program has commenced at its Imperial Gold Silver Property (Imperial Property) in Nevada. The additional data to be derived from the expanded program will be combined with recent and historic exploration results to prepare a detailed 3D model of the gold and silver bearing vein structures known to exist throughout the property.

    Harry Lappa, president of North Springs, stated that the development of a detailed digital 3D model of the known mineralization and vein systems at Imperial will allow the company to focus its future drilling efforts for maximum impact.

    “Using the new 3D map to isolate specific veins and to pinpoint each hole location will also play a key role in expediting the preparation and application process for drill program permitting required by the Bureau of Land Management. I expect to be drilling at Imperial within 6 to 10 weeks.”

    Seen as a vital component in the company’s exploration portfolio, Imperial Property consists of 24 unpatented mineral claims covering about 480 acres and includes the historic workings of the high-grade Imperial Mine. Previous exploration has identified four high-priority target areas at the Imperial Property; Imperial Fault Target, Jasperoid Breccia Target, IP Target, and Resource Target.

    North Springs Resources announced in January that it has commenced phase one exploration at the said property in Esmeralda County Nevada, located about 150 miles northwest of Las Vegas in the Railroad Springs Mining District.

    Investors boosted shares in North Springs last month after the mineral resource company informed of its active exploration programs, which also include North Springs Property in Nevada and the Goldstar Property in Arizona.

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