VANCOUVER, BRITISH COLUMBIA, September 19, 2013 – (ACCESSWIRE) - Sphere Resources Inc. ("the Company"), listed on the NEX Board of the TSX Venture Exchange (NEX – SPH.H), is pleased to make the following announcement:
As previously advised (News Release August 13, 2013) the Company believes the Railroad Fault system passes directly through the Poker Flats gold property, and is interpreted to comprise at least 3 sub-parallel fault strands, 1100 to 1750 metres in length adjacent to Sphere/Spartan's property blocks. Gold Standard Ventures Corp ("Gold Standard") has drilled several holes along these different faults, to the west of the Poker Flats property.
Today, Gold Standard reported, inter alia:
"- New drill hole RR13-11 intersected 98.1 meters of 3.26g/T of gold including, 17.1 meters of 9.98 g/T. 13-11 is located 70 meters west of previously drilled and reported hole RR13-08, that intersected 75 meters of 3.67 g/T of gold at essentially the same depth (about 275 meters below surface).
- The high grade mineralization encountered in 13-8 and 13-11 is essentially open in all directions. Drill hole RR13-12, in progress, is a 50 meter offset to the north of 13-8 and 13-11.
- New drill hole RR13-10, located approximately 150 meters south of 13-08 & 11, intersected 35 meters of 1.82 g/T in the upper breccia and 70.7 meters of 0.55 g/T in the lower breccia."
The Company, as recently advised, will focus its exploration efforts on areas of high grade gold on its highly prospective Poker Flats project in the Carlin Trend, Nevada. The Poker Flats property has the attributes to host a potential high grade deposit such as the high grade gold discovery approximately 500 meters from Sphere's western border identified by Gold Standard at the North Bullion Fault Zone on its Railroad property. There is no certainty further exploration will lead to discovery or development of similar deposits.
The Company intends to complete a CSAMT/IP survey followed by a 3,000 meter drill program to identify high grade feeder shoots from the continuation of gold mineralization of Gold Standard Ventures high grade gold discovery and other targets.
Malcolm L Stevens, Executive Chairman and President of Sphere Resources Inc commented: "We are very pleased to be working on a new financing technique to aggressively explore the Company's properties which could elevate the Company to a new level in respect of its industry peers."
About Sphere Resources Inc.
Sphere Resources Inc. is focused on identifying and appropriating exploration targets and other high quality assets in major global mining camps with a particular emphasis on precious metals. It is currently involved in exploring for gold mineralization in the Red Lake District of Ontario and in Nevada, USA on the Carlin Trend.
On behalf of Sphere Resources Inc.
Malcolm L Stevens,
Executive Chairman and President
Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward‑looking statements. Forward‑looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in mineral exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Sphere Resources Inc
Malcolm L Stevens
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.
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