North Springs Resources Corporation (OTC: NSRS) is a mining firm involved in the exploration, evaluation, acquisition, and development of precious metal and mineral resource properties. In recent times, the NSRS penny stock has been generating considerable interest among the investors and traders.
In fact, the stock has made significant gains over the last one month, and the daily trading volume has been averaging between 20 and 30 million shares. Some market analysts continue to question the sustainability of NSRS quote stock price, but the stock has been delivering steady and noticeable gains to short term traders nonetheless.
Expanded Sampling Program
North Springs has just announced its commencement of an expanded sampling program at the company’s Imperial Gold Silver Property in Nevada. This expanded program will provided useful data to the company regarding its exploration plans for the property.
The data will be used in conjunction with the recent as well as historic results of explorations to arrive at a better evaluation and development of the property. The combined results will help the company prepare an intricate 3D model of the gold and silver bearing “vein structures” that are believed to be present at various spots in the property.
The first phase of the exploration plan for the Imperial Property focuses on a $250,000 program that will cover surface and underground samplings, environmental and geochemical studies, and 3D mapping of the area. This will be followed by a multi-targeted reverse circulation drilling program aimed at testing gold and silver mineralization that has already been identified. $50,000 out of the program fund has already been deployed to finance exploration costs at the property, and the remaining $200,000 exploration budget is expected to be funded over the next few days.
Harry Lappa, President of North Springs says, “The development of a detailed digital 3D model of the known mineralization and vein systems at Imperial will allow us to focus our 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.”
North Spring’s Imperial Property has shown increasingly promising results, which is one of the key reasons for the recent interest of the investors and traders in the company’s stock. The Imperial Property includes 24 mineral claims that cover nearly 480 acres of land.
The property also includes the historical workings of the superior grade Imperial Mine. Past exploration activities have identified four key target areas at the property that have been accorded high-priority status. These areas include Jasperoid Breccia, Imperial Fault, IP, and Resource.
Recent Sampling Results
Recent surface sampling and underground sampling activity has shown potentially two distinct mineralizing events at the Imperial Property. In one part of the property, a relatively higher temperature mineralizing event is thought to be connected with the veins sampled underground at the high-priority Imperial Mine location. This mineralization has a fairly close association between gold and silver and base metals.
Surface sampling at another part of the property has shown that the area had experienced a distinct lower temperature mineralizing event with gold associated with antimony. This unique lower temperature event reveals a number of important characteristics of a Carlin-type system that includes the presence of a thin-bedded calcareous host rock and jasperoid.
These are encouraging findings till now, and the company is aggressively looking at further exploration of the potential areas of the property. The NSRS penny stock price could be influenced significantly, depending on sampling results in the near future. Keep a close watch at the daily NSRS quote to know where the stock is headed.